Recently, we had the chance to sit down with Mihai Draghici, the Founder of MedicPad. He a serial entrepreneur with almost 20 years of enterprise software development experience launching various successful startups in the USA, Mexico, Canada, Europe, and India.
MedicPad manages the patient intake process and medical records using cloud-based software. The company works closely with medical teams to align patient intake strategy and efficiency goals to deploy advanced and customized applications and patient management systems that not only solve problems but add value to clinical organizations. They have developed Self-Checkin Kiosks to minimize human interactions in these times of social distancing. The kiosk allows patients to register their admission, be directed to the doctor’s office, and even pay for services using its self-service kiosk system.
Is the trend to move to reduce the human element in healthcare administration response to COVID, or a shift in our overall approach to healthcare?
This futuristic-sounding shift was coming regardless of COVID. I just think the pandemic accelerated the marketplace adoption for innovative ideas in healthcare which essentially in some form or fashion will end up replacing the “necessary paperwork” humans need to do now with a robotic process automation tool (which can run RPA/AI/ML/etc. operations with high accuracy and scalability) so that the human can go make more complicated decision doing jobs instead.
What is MedicPad’s value proposition?
We are the software nurses for medical doctors.
As there is a rush to “go digital” during the crisis, how do you differentiate the company from the competitive landscape?
We deliver tailor-made workflow improvements that not only provide immediate value and solve pressing problems, but we also investigate upstream and downstream systems when we architect and deploy the final solution, so it fits perfectly into the client’s organization and business processes with minimal impact to costs and risks.
What are the biggest challenges to launching a startup during the crisis?
We are participating in the HealthInc Accelerator Program here in Amsterdam and have learned how to adapt to the changing environment over the past few months quickly. We quickly found a problem to solve at MedicPad, which has a significant market/fit in this crisis, so the challenge we’re facing is how do we scale up quickly with our solutions and product offering globally.
How has being in an accelerator helped you in growing the company?
The HealthInc Accelerator in Amsterdam has been amazing. The experts and mentors that have been available to us for knowledge transfer sessions and business model design advancements have taken our startup to the next level, and we’re ready to scale up this year and raise a seed round by Q32020.
What are your plans after the demo day?
We want to continue building the sales pipeline through our global distributor partners and the opportunities they are creating for MedicPad in the USA, Germany, and the Middle East. We are actively running PoC projects already with these strategic partners: ShowBotiXX, CTS, Health Analytika, and EloTouch.
How do you manage the team in the current remote work environment?
It’s been effortless and very convenient. Our team is much more available remotely, and we are spread all over Europe (Portugal, Netherlands, Romania), so it wouldn’t even work any other way. We use Zoom and WhatsApp for pretty much everything, and it’s working well.
What has been your most significant success to date?
Our biggest success has been achieving the “1st Revenue” milestone this week! We feel it’s a pretty big deal after almost a year and half of working on this startup and building it up little by little (and very methodically) starting at raising angel funding, winning competitions and hackathons and bootstrapping our growth hacking thus far, plus going through the HealthInc Accelerator for the final push…so finally we sent our first official invoice (and got paid!).
What keeps you up at night?
Decisions. Decisions. Decisions. And a lot of organizing my priority task lists in my head before I go to sleep each night. It’s like playing a video game that has an unlimited amount of levels and new problems/challenges to solve every day. And I don’t sleep much either, so as a software engineer I prefer working at night vs. day!
Where will you be in 5 years?
On Mars, drinking a beer with Elon Musk.