Panacea Infosec India and Healmed Solutions USA form joint venture ‘Panacea Healmed’

Panacea Infosec, along with Panacea Bioedge, has partnered with Healmed Solutions to launch India’s first Artificial Intelligence (AI)-based digital, touch-free, voice-enabled mental healthcare technology platform ‘Panacea Healmed,’ according to a statement.

Panacea Healmed’s mental healthcare assessments introduced for healthcare institutions, corporates, educational institutions and social enterprises in India through its proprietary technology platform, provides individuals with direct access to clinical assessments that support risk and diagnosis, provide an immediate connection to care that allows individuals to self-manage and create responsive coping mechanisms through the delivery of personalised therapeutic support, the statement added.

It also notified that there is a huge demand for mental healthcare services in India. WHO estimates that the burden of mental health problems in India is 2,443 disability-adjusted life years (DALYs) per 100, 000 population and the age-adjusted suicide rate per 100,000 population is 21.1. The economic loss due to mental health conditions between 2012-2030 is estimated at $1.03 trillion, and 7.5 per cent of the Indian population suffers from mental health disorders.

Mental instability and illness constitute one-sixth of all health disorders, which comes up to more than 13 crore patients in India. This number was nearly 15 per cent of the global mental health and substance abuse patients. A large segment of the population is struggling with mental or behavioural health issues associated with the ongoing COVID-19 pandemic, including anxiety, depression, increased substance use and suicidal thoughts. Panacea Healmed’s mental healthcare platform provides support around various mental health issues, personalised care pathways and valuable preventive insights for healthcare institutions, corporate and social organisations. This, in turn, provides better access to care, improved holistic treatment options to better manage mental health and wellness of the affected populace, added the statement.

Further, according to the statement, the platform is currently utilised by employers, therapists and educational institutions, and offers a continuity of care programme that blends the supported intervention with technology, AI and human touch. This is accomplished through a suite of proprietary digital tools that are designed by clinicians and grounded in AI that is proven to positively impact outcomes.

Speaking in this regard, Megha Sharma, co-founder and CEO, Panacea Healmed, stated, “We are pleased to announce the joint initiative of Panacea Infosec and Healmed Solutions to transform mental healthcare delivery in India. Both the organisations have excellent track records in their respective domains and have created successful collaborations. We look forward to working together to unlock the huge potential in mental healthcare services.”

Adding to it, Dr Nidhi Goel, co-founder, Panacea Healmed, and founder and MD, Healmed Solutions, commented, “We have an aggressive multi-pronged Indian expansion plan for mental healthcare services. We recognise the significant opportunity and need for mental health support in India and can support healthcare organisations, corporates, educational institutions and NGOs to better manage the mental health needs of the people. With Panacea Infosec’s local presence, expertise and infrastructure in place, we expect to see significant growth in India as we continue with the integration of our solutions.”