Exclusive Interview Vijay Reddy – CEO Synthium Health

Mr. Reddy, thank you for accepting our request to interview you. It is indeed a pleasure!

The pleasure is all mine and I am honored to be here.

Let us start with a reference to all your previous experiences. From technology to real estate services and call centers, when did you receive “the call” to serve to the area of health?

Well… I started my career with a company called OSI systems, Inc. (OCI), a healthcare technology consulting firm in 1991. I was one of the first few developers who got hired right after my Master’s in Computer Science. I started as a developer and eventually became CIO (Chief Information Officer). From day one, my goal was to offer three times the value of pay I received from my employer. I always questioned and pushed myself to offer just that. I created an auto mapping software, which was central to all of OSI’s product lines. I remember, Ernst & Young used to be a big player in our space, but after our auto-mapping technology, their coding/mapping related services were no longer profitable to them, so they left the space. OSI then grew to have a niche in that space, and it expanded into thousands of hospitals in the USA (probably over 50% of the hospitals in the USA). Eventually, OSI was acquired by Med Assets, Inc. Prior to the acquisition, I left OSI and moved to India for about two years, due to my mother’s health issues. That was probably one of the craziest decisions I made. Anyway, during my stay in India, I launched a real estate services company, called Grih Rachna, a real estate portal with online and off-line presence, and Andhra Vision, an e-commerce portal, specifically for non-resident Indians. Grih Rachna received a lot of recognition, and we were ranked as one of the top five sites in India. Anyway, with the exception of this, I always worked in the healthcare space; launched several ventures, and as you know with the new ventures, some were successful, and some not. I always felt that my main purpose in this life is to make a difference in healthcare and technology.

Dealing with people’s money is a risky business, but dealing with their health is even riskier! How reliable can Synthium be to the citizens?

There is no risk to human health from Synthium. The purpose of Synthium is to facilitate procurement of supplies in a timely and efficient manner. We provide various tools to make this process transparent and effective. Additionally, we are also looking into creating a product line (similar to what Costco does with Kirkland) of quality products at a reasonable cost. If we accomplish what we are aiming at, the citizens will definitely see an impact on the wallets: increased savings.

How can someone reduce the costs of health care by simply “going direct”?

There are small and innovative medical device manufacturing companies who do not have the necessary resources to go to the market. Currently, they sell their products to distributers with low margins to spare, or the products are private labelled to be sold under big manufacturers. Either case, they are running on the razor thin margins. We want to help them by providing all the necessary tools to reach their potential market, by taking advantage of our “Go direct” initiative. On what stages does the process of becoming a member of this system goes through? All healthcare enterprises, such as suppliers, manufacturers or providers, have to become a member before they can access or transact on the platform. Once their membership is verified, the manufactures get to upload products, and the providers get to transact.

In what ways are you going to blend in the usage of tokens instead of money for the third generation, which is usually the one who needs the health care system the most…?

We will offer SHP tokens as an alternative currency on the platform, which means that the SHP token can be used in lieu of regular fiat for the sale and purchase of any product or service on the platform. We will be implementing this shortly after the crowdfunding TGE sale is completed.

Mr. Reddy, can Synthium Health become a speed-up to reducing the costs of specific medicines or pills, and why not even innovate to bringing up cures for several diseases?

There are many people who are working on cures for several deadly diseases, such as cancer etc. This is not my area of expertise, and I choose to stay away from that. However, the cost reduction in on any medicine or pills possible, and eventually we may bring the products from the platform for the direct-to-home delivery for patients.

This is a question that probably your future clients would like to have an answer from you: What is your opinion towards both Obamacare and Trumpcare?

The lawmakers and leaders are already working and evaluating what is best for people. After all, the people elected them to do that. My goal is to help make the healthcare supply chain more efficient than it currently is, and to create the much needed visibility for all the players involved. Ultimately, benefiting all of us: lower cost of healthcare.

Morally speaking, why do we consider health a marketplace?

Our scope is supplies’ marketplace. We are not into offering health or providing care. It is the function of the healthcare provider.

 

On behalf of CCBeast.com Klajd Heta

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One Comment
  • Exclusive interview with Vijay Reddy, CEO of Synthium Health – Synthium Health
    15 November 2017 at 12:58 am

    […] “There are small and innovative medical device manufacturing companies who do not have the necessary resources to go to the market. Currently, they sell their products to distributers with low margins to spare, or the products are private labelled to be sold under big manufacturers. Either case, they are running on the razor thin margins. We want to help them by providing all the necessary tools to reach their potential market, by taking advantage of our “Go direct” initiative.”  Read More… […]

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