January 5, 2023 • 30 mins
Luis Santiago is PEGASI's CEO and CTO. By training, he is a social communicator and marketing and public relations professor. By profession, he is a self-taught programmer, technology project manager, and Product Owner, with more than 14 years of experience in the area. He has ventured into banking, IT, and Digital Health. Luis was recognized in 2016 as one of the Young Leaders of the Americas by the American State Department, and in 2020 as one of the 35 Innovators under 35 in Latin America by the MIT Technology Review magazine. He has participated in dozens of international forums and events pointing out the importance of Healthcare digitalization in Latin America.
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Episode Transcript
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Speaker 1 (00:18):
Radio, Pandora or Deser.
Welcome to the Latin LeadersPodcast, a conversation with
leaders who have succeeded orplan to succeed in Latin
America.
Today, our guest is LuisSantiago.
Luis is Peas, c e o and c t o.
Luis was recognizing 2016 as oneof the young leaders of the
(00:40):
Americas by the American StateDepartment.
And in 2020, as one of the 35innovators under 35 in Latin
America by the M I T TechnologyReview Magazine, he has
participated in doses ofinternational forums and events
pointing out the importance ofhealthcare digitalization in
Latin America.
So, Luis, it's great to have youhere today.
(01:02):
Welcome to the show.
Speaker 2 (01:04):
Thank you very much, Julio.
It's great to be here and, andshare this space that, uh, many
leaders in the area have sharedbefore.
So it's a privilege anar.
Speaker 1 (01:13):
Awesome.
Thank you for that.
I appreciate it.
So, Luis, tell us about yourjourney.
How is it that you got to whereyou are?
Speaker 2 (01:21):
Well, thank you.
Um, yeah, we pegasi have abackground before working in the
healthcare IT area.
We had a company in Venezuela.
Uh, we closed that companyduring 2017, of course, uh, due
to the situation that we have inthe country.
Uh, at the time of closing, wehad around 8,000 users that we
had, uh, digitally transformed,uh, using EHRs in our Eerp
(01:46):
software.
And we were managing around twoelectronic medical records in
the country.
Um, so we were in contact during1617 with many facilitators, and
that said that it would be agreat idea to extend what we
were doing for Venezuela to therest of the, of the region.
So, um, afterwards, uh, in two19 we got into startup Chile,
(02:11):
which is a program that'sconducted by the Chilean
government.
And, uh, we got some grantfunding and we found here in CHI
extended to the US and we're nowcovering five countries in Latin
America with the services thatwe provide.
Speaker 1 (02:26):
Beautiful.
Wow.
That's quite impressive.
.
Thank you.
I, I wasn't sure about thestartup Chile part of your
story.
I didn't know about it.
I don't remember that part ofit.
I mean, that's quite a programthat Chile has is an example in
Latin America.
Speaker 2 (02:41):
Exactly.
And it, it's starting to, to bepromoted to other countries.
Actually, startup is starting tobe a success case in, in many
countries.
In, in Latin America.
Uh, we, we have the, the, theknowledge of, uh, certain
programs in Columbia that aredoing exactly the same.
We have, uh, Puerto Rico'scalled, called parallel 18.
Uh, the previous, uh, directorwas a director for Startup Chi
(03:04):
as well.
I
Speaker 1 (03:05):
Read it, yes.
Yeah,
Speaker 2 (03:07):
Exactly.
And, and it's a program that,um, these are programs are super
essential, uh, in, uh, creatingan ecosystem for, for startups
to grow in those spaces and thenstart expanding from those
specific countries and, andstarting exporting other parts
of America.
So where, where we didn't seethe opportunity in Venezuela
(03:30):
inability of the country, we, wefound opportunity and started
more extending from chi to otherparts of America emerge.
Speaker 1 (03:38):
Okay.
Very good.
Alright, so Luis, let's talkabout trends.
What, what do you see happeningin Latin America, uh, from the
political, economic, or socialstandpoint that is relevant to
our discussion today?
Speaker 2 (03:52):
Well, and that's a great question.
Um, we are currently focused ononcology.
So I'm starting seeing thetrends in the, in the area.
Um, we, we recently werereviewing, uh, many of the
reports from global, uh,starting.
And we saw the number of casesin the cases in drastic, uh, one
(04:16):
of the reasons cancer, somemedical circles called, uh,
middle class disease.
Uh, cancer happens when youdon't die, other things.
So
Speaker 1 (04:27):
I didn't know that.
I mean, that's fuzzy, maybe.
So middle class disease,
Speaker 2 (04:31):
Exactly.
It happens, for example, whenyou have Africa and Latin
America, uh, overcoming diseasessuch as small books or, uh,
dengue, malaria, uh, then peoplegrow old enough to, to have
cancer.
Uh, in the case of Africaparticularly, it's being called
an epidemic.
Right now you have around threeand cases reported every year
(04:55):
when there were 20 years ago,uh, or very few, many years ago.
So in, in that sense, uh, LatinAmerica is starting to see a
huge trend in, in cancerdeveloping in the region.
Uh, the, the, the first and mostprevalent one is, uh, breast
cancer, and the second one iscervical cancer.
In many cases, cervical cancerspecifically is caused by
(05:19):
classes 16, 18 high risk, uh,PPI virus.
And of course, if you startseeing papillomavirus as
something that's, uh, an, an stiuh, sexually transmitted disease
, uh, std I'm sorry, then youstart seeing the trend of, uh,
how cancer spreads like anepidemic.
So, uh, it, it's veryinteresting that, uh, when you
(05:41):
start seeing the diseases thatthe, the people have, uh, then
you start seeing that, uh, thesediseases are related to
overcoming, uh, extreme povertyin the region and, um, people
increasing their lifespan.
So you start seeing, uh,diseases that have been
prevalent in the developedworld, and they're starting to
(06:02):
show up in the developing world,and we are prepared to deal with
malaria.
We are prepared to deal with,um, we are prepared to deal
with, I don't know, small books,but we are not prepared to deal
with cancer.
So there's a huge trend in thedeveloping world to start
preparing for these, uh, middleclass diseases.
(06:26):
Um, and, and, and it'sinteresting because these are
niche that are not developingmedicine in the region.
So there's a huge need fortechnology.
There's a huge need for, forawareness, and there's a huge
need for education of people to,in order to avoid, uh,
developing these diseases
Speaker 1 (06:45):
And screening, I would say too, right?
Yeah.
I mean, innovative technologies,as you correctly said to screen
patients, because now, um, you,we have, um, newer technologies,
for example, just to give you anidea, I'm dealing with a client
of us who has probably the onlydevice in the world that can
(07:10):
detect the change of temperaturein the breast.
Speaker 2 (07:14):
Okay.
Speaker 1 (07:14):
Prior to, to a woman going to mammography.
So you have this little device,it's a$10,$20 device that you
get at the drugstore.
You put it in the fridge, andjust every three months or so,
just, uh, put it next to yourbreast and then it will give you
an indication of, uh, a changein temperature so that you have
(07:36):
an alert, uh, you tell yourdoctor and then you get sent to
mammography.
Speaker 2 (07:41):
So Exactly,
Speaker 1 (07:42):
Yeah.
Another technologies like thatI've
Speaker 2 (07:44):
Sent to, no, and, and it's amazing.
Uh, these are very, veryincredible technologies.
Uh, the, one of the keyadvantages of technology is that
, uh, the sooner you develop the, that technology and you have
that technology in the market,uh, for longer lifespans, uh,
then of course the technologycan become cheaper.
(08:05):
And it's something that's, uh,something that can be acquired
and massified in the, the world, for example.
Speaker 1 (08:11):
Exactly.
Exactly.
Alright, Luis, so let's talkabout what you guys are doing
with psi.
What problem are you guys tryingto solve with the, the, the
company and what challenges areyou facing in doing business in,
in Chile and the other countriesin the region?
Speaker 2 (08:30):
No, that's great, and thank you for that question.
Um, pretty much the thei isreducing, uh, time for, uh,
cancer, um, diagnostic and timeto treatment by half, uh, for
the developing world.
Um, this problem merges, like II said before, there, there are
(08:50):
some figures you have withcancer in 2020 and race between
comes specifically for, fromAmerican Africa.
And, uh, we have an disadvantage, uh, when for cancer detection
(09:12):
treatment, 60 days, um, in LatinAmerica, the meantime days.
So there, there are someresearch that indicate that for
every 30 days that you takepatient reduced by.
(09:33):
So yeah, you started with ahandicap when dealing with
cancer in our regions, you mighthave hundred, 2,050 days before
you get a, a certain diagnosis,uh, from the patient.
So, uh, that means that, uh, forregions such as Latin America,
(09:54):
Africa, south Asia, dealing withcancer is even more expensive
than, uh, not never to mentionthat the the dropping quality of
care and quality of life forthose patients, but it's
actually more expensive.
Cause when you start treatingthe patient, the patient is in a
, in a stage that's furtherahead, when you might have found
(10:14):
them in the develop world, instage one or two, you'll find
them in stage three or four herein LA America.
So what we developed issomething that we saw in the
region that was happening, this,uh, thing about moving cancer
information from one place tothe other.
For example, if you have thesuspicion that you have cancer,
the first thing is to create abiopsy, uh, or, or to take a
(10:37):
biopsy outta the tumor.
And then you might take one day,two days analyzing the report,
and then you have to wait forthe patient to pick that report
up and then take it to thephysician so the physician can
review it.
And then this whole processtakes 10 days.
And then you start, you have thebiopsy report and the physician
(10:58):
says that he alarm.
And now you have to the patientinto the, as fast as possible.
And that takes another days.
So in the patient might havecancer and moment the patient is
having the first went by.
(11:18):
So what we created is, uh, pgaan oncology information system
that allows you to haveeverything that is connected to
the patient's cancer suspicionin the same platform.
And, uh, which, uh, first allowsyou the access to the
information.
Secondly, gives you all thealerts and warnings that, for
(11:40):
example, a result is ready or apatient needs treatment at
certain point.
And third allows you to createstatistics outta all information
.
Idea is to create, create thisoncology information system that
first allows you to controlwhat's happening in the oncology
institution.
And second, and most importantly, is to connect all the dots.
(12:04):
Then, uh, you have all theinformation that you need to
make, uh, decision about thepatient.
So, uh, we started working in,in the first area that we
touched was, uh, suspicion.
Uh, we started working with, uh,screening protocols.
Uh, the first one we launched,we launched in July, uh, July,
(12:25):
2020.
In July, 2021, sorry.
Uh, in, in Ecuador inka, wescreened around 3000 women for
human, uh, reported to thephysician.
The up on the infection that wasfound.
(12:53):
This is high risk human virus.
Uh, those patients are at riskof, uh, probabilities of
developing, uh, cervical cancer.
Um, we are also extendingprotocol to, you know, uh, in
Latin America precursor, uh,lung cancer, uh, specifically in
(13:14):
Chile.
It's a very, very big problemdue to contamination.
And, um, then afterwards in thediagnosis and treatment phase,
we created a platform called,uh, which allows physicians to,
uh, remotely connect, uh, todiscuss patient's, uh, case have
(13:35):
all these, uh, assets, uh, inline for example, you have, uh,
your mammographies or yourimmunology reports, your
laboratory reports, your, um,anatomical path reports.
If you have, uh, molecularscreening of a patient, you have
that available as well.
So when you have thatdiscussion, you have all the
(13:56):
assets that you need, you createa treatment case or a treatment
plan, and the platformadministers the treatment plan
and gives you warnings when thispatient is supposed to have a
chemotherapy or what is the, theexpected date of the surgery for
the patient.
So it allows you to synchronizeall the resources that you need
to give attention to thepatient.
(14:16):
So, uh, in ensure, pretty muchwhat we do is we collect all of
that information and create asingle pipeline, uh, to join the
patient under care team in allof the patients, uh, uh, journey
throughout cancer, hopefully,uh, joining them also in
researching how they, uh, whatresult did they have from their
treatment, and how thattreatment will benefit a patient
(14:38):
with the exact same type ofcancer.
So in the end, it's connectingenough information from a region
that has 70% of that informationin paper, uh, in order to create
artificial intelligence thatallows you to predict and
prescribe the type of treatmentfor our patient, uh, a singular
patient
Speaker 1 (14:58):
Who pays for this platform.
Who's your client?
Yeah,
Speaker 2 (15:03):
That, that's very interesting.
We have, uh, different client,uh, we have a client and then we
have an end user.
Speaker 1 (15:09):
Exactly.
Yeah, I imagine that mm-hmm.
.
Yeah.
Speaker 2 (15:12):
Yeah.
Um, currently we, most of ourcustomers are, uh, pharma
companies, uh, that areinterested in conducting real
data, real research.
Uh, our biggest customer is wework Chile.
Um, then, uh, with what we dowith them is, uh, we created,
(15:35):
uh, an r and d platform thatallows, for example, a physician
to interact with the patient,store that information.
Then, uh, they send, uh, uh,consent form using the platform
that is digital designed by thepatient and allows their
information to be used inclinical research.
This is a completely automated,uh, process, and, uh, it gives
(15:56):
the, the pharma, uh, a hasslefree way to obtain high quality
data to perform the research.
Speaker 1 (16:03):
Absolutely.
Mm-hmm.
.
Yeah.
So, so the, for the client, I'msorry, for the end user, um,
well, I, I, I, I take that back.
So the platform is, is free oris easily accessible to a
hospital, easily accessible to a, uh, a patient so that they can
(16:24):
more freely enter the databecause they are really the
source of data.
And then you sell that data tothe pharmaceutical companies or
whoever, industry
Speaker 2 (16:36):
E Exactly.
We sell aggregated, anonymizedanalytics of that information.
Yeah.
We never sell the sourceinformation.
We actually don't, we don't haveaccess to it.
Um, whenever we enter theplatform, it creates, uh, its,
uh, encrypted.
Uh, there are two keys that canuncorrect the information.
The first one is from thephysician, and the other one is
(16:58):
from the patient themselves.
Uh, so we don't have anythingthat can identify a person.
Uh, we create our protocolsusing aggregated information,
and that is an information thatwe use, for example, to train
artificial intelligence.
Well, we have an alliance with acompany in Spain that's
, uh, with a company.
We're trading artificialintelligence algorithms to
(17:19):
predict the best course oftreatment for, uh, breast
cancer.
And, um, there are many otherthings that you can do.
For example, if you introduce anew medication or a new
chemotherapy treatment forcertain types of cancer, you can
validate the results in actualpatients.
Um, and that, that's, uh, theidea of, uh, having clinical
(17:41):
information as a source of truth, and giving physicians also
interfaces allow to create highquality clinical data, uh,
instead of, uh, just writingthings down in, uh, unstructured
processable performance.
Speaker 1 (17:56):
Yeah.
But, but was the experience ofthe physician or the patient,
uh, with the platform, because,uh, from the standpoint of a
hospital or physician, don'tthey find this redundant to have
to enter information in aelectronic medical record
platform, and then in yourplatform, I guess you're
(18:16):
separate.
How does it work?
How's the adoption?
Speaker 2 (18:20):
The, the platform works as an emr.
Uh, an e uh, we, we have, like,we were actually discussing this
, well, one of the, uh, thismorning, uh, they say, you
don't, Eva, there's no way youcan evade, uh, doing like ehr, e
R P software development.
I said, no, because most of the,uh, clinics in America are still
(18:42):
on paper.
Uh, there's a study from the,the international
telecommunications that saysthat Latin America has like 3%
of their clinical informationstill on paper.
So,
Speaker 1 (18:54):
Um, wow.
Speaker 2 (18:55):
Yeah, case
Speaker 1 (18:56):
Far.
If
Speaker 2 (18:57):
You wanna install, yeah, a beautiful tumor board
that will allow you to discusstwice as much, uh, cases, twice
as many cases, I'm sorry.
And during the, the week, then,uh, you start seeing that for
the Tmobile to work, youactually have to have digitized,
uh, assets.
So then you have to providethose physicians with some sort
(19:20):
of, uh, tool to actually, uh,digitize the information.
And then you have to installyour, uh, his software.
And then we, we started likeworking from the his, which is
the base, and then we startedadding like these cherries on
top.
Like for example, the tumorboard, the screening platform.
But you cannot have a screeningplatform or a tumor board if you
(19:42):
don't have an, uh, so we havelike two flavors.
It depends on the institution.
If they have a, is we createinterfaces with their his to
recover valid information to gointo the tumor board.
If you don't have a hip, no, ahis, don't worry, we have you
covered.
And, uh, then we create anecosystem for information to
(20:04):
move in the clinic in a digitalformat.
Speaker 1 (20:06):
Okay.
So right now, tray is cancer.
Are you looking, uh, does yourroadmap include other
indications or other therapeuticareas?
Speaker 2 (20:18):
Yeah.
Um, we currently are seeing the,uh, the space of chronic
diseases in Latin America is the, in Africa as well is the least
, the least inhabited, I'm sorry, by solutions, uh, because you
don't have anyone that'sintegrating, uh, information in
all of those spaces.
Uh, we have had, um, proposalsto, for example, this, uh,
(20:39):
tuberculosis protocol, uh,respiratory diseases.
There are, uh, prevalent in theregion.
Uh, we have had an invitation todo an Alzheimer long run test as
well.
Uh, so the, the space forchronic diseases is, uh,
interesting.
But the fact is that oncology isa very large niche in itself.
(21:02):
And, uh, we see a huge impactopportunity, uh, oncology
protocol.
Speaker 1 (21:08):
Excellent.
Very good.
Congratulations.
It looks like a thank you.
A promise in technology orplatform.
And what countries are youcurrently in right now in Latin
America?
Speaker 2 (21:19):
We are operating in Chile.
It's, uh, chiles, ourheadquarters.
We are doing, uh, we're workinginu, Dominican Republic.
We have a, like three or fourcustomers in Colombia.
Uh, looking forward to expanding, uh, faster in Colombia.
And we recently had interviewwith Primary care center in hon.
(21:45):
They want to start using theplatform, so probably gonna have
a couple customers in Hons.
Um, and, uh, then we'renegotiating with our first
customer in the us given thatthey have to, that takes a bit
longer, but trying to have, wehave few customers in many
countries.
(22:06):
The region, uh, every countrythat you see through is a, is a
challenge because, uh, everycountry has different, uh,
legislations.
And then you have to make surethat you're not stepping
anyone's sos.
Speaker 1 (22:20):
Exactly.
Yeah.
Uh, the, that's the nextquestion that I have for you,
Luis.
Challenges and best practices.
Uh, can we identify some chcommon challenges, uh, uh, among
all these countries?
I mean, across the board, haveyou seen kind of a partner of,
uh, of, of accessing the market?
(22:41):
Is it the language?
Every country has a differentkind of dialect in Spanish,
different way of doing things,or same things, uh, as you
correctly said, the, uh,legislation, the regulations are
a little different in everycountry in Latin America, and
that's a big challenge in theregion is so fragmented, right?
So please speak about challengesand, and if you can give us some
(23:04):
tips or best practices, that'llbe ideal.
Speaker 2 (23:08):
Uh, that, that's great.
Uh, that, that's a greatquestion.
I think, uh, the biggestchallenge, as I said, is the
difference in legislalegislations between the
countries and, uh, themisconception that Latin America
is a black country.
Like, for example, you have, and, uh, like in, in Europe, and
this is only recently, like 20years from now, uh, in Europe,
(23:30):
that you have a single, uh,entity that gives you access to
the whole market.
So in Latin America doesn't worklike that.
Every itself, every has theirpattern terms of information and
their, uh, legal framework.
Uh, for example, um, when, inour case, one of the things that
(23:53):
helped us, uh, penetratecountries faster is the fact
that we cover, uh, legislationin, in the US that's called,
it's, uh, extremely, extremely,uh, secure, one of the best
legislations in the world for,for accounting on, on patient
privacy.
And, um, that makes it, wheneverwe go into a country, we have to
(24:15):
learn like the, the key issuesthat we might find in the, the
country's legislation.
But it's usually faster and, andmuch easier to implement since
we comply with this very, verydemanding, uh, legislation.
We also, we also comply with isoand in many countries, the of
(24:37):
the law included for privacycontrol, uh, standard like a, a
nine, 9,001.
So if you comply with these, uh,international standards, it's
going be a lot easier to respondto what the country is requiring
from you.
I would say the, the other largechallenge is understanding the
(25:00):
customer in each of those, uh,countries.
They have different expectations, different technological
development stages.
And, uh, expecting, for example,a clinician from Chile to, uh,
have the same level or, or thesame awareness about technology
as a clinician.
Columbia is, it's very, very, isa severe understanding.
(25:25):
Um, um, there, there's probably,uh, more, at least in the
private sector here, some moreawareness for, uh, healthcare,
uh, technology and, andhealthcare information
technology in particular.
You might have in, in Columbia,perhaps not in Bogota, but uh,
in other cities of Colombia, oryou might find, for example,
(25:46):
example, I've been talking, uh,I've been talking recently with,
uh, the healthcare ministry.
Many other things that we'reproposing to them are, are
completely new.
They didn't know that it couldbe done mm-hmm.
.
And it's super interesting interms of, there's a huge amount
of opportunities, but of courseyour sales cycle be a lot
(26:07):
slower.
Cause there's a huge educationcomponent in that, uh, sales
cycle.
So, uh, you have to say topeople what they can expect,
what is the result that they'regoing to get and, uh, uh, what
is the, the type of revenue orthe type of increase in
(26:29):
efficiency that they'll get fromimplementing those type of
technologies.
Cause you have to tell them thewhole story.
Um, in, in many countries, I, Iwill guess that that
encyclopedic knowledge is notnecessary to, to be shared
because people already have it.
Um, here in Latin America, youhave to start from scratch.
Speaker 1 (26:48):
Hmm.
Interesting.
Alright.
Alright.
So Luis Yeah, go ahead.
Speaker 2 (26:55):
No, no, I was going to say, if you are the guy that
actually, uh, tells them thestory for the first time, uh,
then you are one step closer to,uh, getting the niche market,
uh, specifically for you.
Cause uh, yeah, you're theperson that knows, uh, about it
and you're gonna be the point ofpreference.
Speaker 1 (27:14):
Sure.
Yeah.
Yeah.
Alright.
So any best practices, uh, anysuggested, uh, tips or, or, uh,
courses of action that companiescan take when navigating these
waters and all these countries?
What would you say will be yourmuscles of, of wisdom?
What would you say to somebodywho's just starting to, uh, uh,
think about Latin America as aplace to do business based on
(27:36):
your, your challenges and, andhow, what you have done to
overcome them?
Speaker 2 (27:41):
Uh, I would say there are three things that you have
to do first.
Uh, get a, a close look of themarket that you're entering.
See if there's any localdominant, uh, driving force in
the type of technology thatyou're trying to introduce to
the market.
Uh, seeing the stage ofdevelopment that is also
important.
Uh, then when you get into themarket, you have to know that
(28:02):
latinamerican markets mo more onconnection and less on value
proposition.
So, uh, get a first customerthat's highly respected in that
society or that country.
Speaker 1 (28:15):
Mm-hmm.
reference, create
Speaker 2 (28:17):
Exactly.
Create, uh, success cases.
Uh, that's the most importantthing to do.
And you create that successcase.
Do not be shy in telling thatperson to introduce you who
might to their circle, who areinterested, who are interested
in having their technology.
Um, I, I would say there aresome countries where, where you
(28:39):
try to give that technology foryourself because it gives you
competitive advantage.
But in, in latinamericancountries, people are, are like
super happy to show off, uh, howgreat their technology is.
So that's something that you cantake advantage of
Speaker 1 (28:55):
Sure.
Theirs.
Speaker 2 (28:57):
Exactly.
And saying let's share this hugesuccess that we, people in your
circle, I'll make you look good.
And, uh, and, and it actuallyworks.
Who works super well.
Speaker 1 (29:11):
Great sales tool.
Yeah.
Thank you for that tip.
I mean, very nice.
I like it.
Speaker 2 (29:15):
No problem.
Speaker 1 (29:17):
Alright, so Luis, work close to the end of the
show.
Uh, how can people get in touchwith you?
Speaker 2 (29:22):
You can reach us on our website, tei io.
Uh, you can also write me myemail, Luis santiago psi io.
Uh, we have everything for youroncology needs, um, oncology
information systems that canactually help you reduce, uh,
the time that you take todiagnose and treat a patient
(29:42):
behalf.
Um, we're also probably going tobe in some events that you might
go to in the healthcareindustry, so be on the lookout
for us.
Speaker 1 (29:54):
Excellent.
You guys are active on LinkedIn,I'm sure, right?
Speaker 2 (29:57):
Yeah, yeah.
You can reach me.
My LinkedIn profile's profile.
We're active with both.
Speaker 1 (30:04):
All right.
Luis, thank you so much forbeing here.
It's been a pleasure sharingthis.
Thank you, um, information withyou.
Uh, thank you for sharing yourknowledge, your experience and
your vision to dominate theoncology marketing Latin America
exciting, uh, niche andprevalent that you're trying to,
to solve.
Congratulations,
Speaker 2 (30:23):
.
Thank you very much.
And and you too.
I'm a fan.
The podcast.
Amazing.
Well,
Speaker 1 (30:34):
Thank you.
Bye-Bye
Speaker 2 (30:36):
Byebye.
Radio, Pandora or Deser.
Welcome to the Latin LeadersPodcast, a conversation with
leaders who have succeeded orplan to succeed in Latin
America.
Today, our guest is LuisSantiago.
Luis is Peas, c e o and c t o.
Luis was recognizing 2016 as oneof the young leaders of the
(00:40):
Americas by the American StateDepartment.
And in 2020, as one of the 35innovators under 35 in Latin
America by the M I T TechnologyReview Magazine, he has
participated in doses ofinternational forums and events
pointing out the importance ofhealthcare digitalization in
Latin America.
So, Luis, it's great to have youhere today.
(01:02):
Welcome to the show.
Speaker 2 (01:04):
Thank you very much, Julio.
It's great to be here and, andshare this space that, uh, many
leaders in the area have sharedbefore.
So it's a privilege anar.
Speaker 1 (01:13):
Awesome.
Thank you for that.
I appreciate it.
So, Luis, tell us about yourjourney.
How is it that you got to whereyou are?
Speaker 2 (01:21):
Well, thank you.
Um, yeah, we pegasi have abackground before working in the
healthcare IT area.
We had a company in Venezuela.
Uh, we closed that companyduring 2017, of course, uh, due
to the situation that we have inthe country.
Uh, at the time of closing, wehad around 8,000 users that we
had, uh, digitally transformed,uh, using EHRs in our Eerp
(01:46):
software.
And we were managing around twoelectronic medical records in
the country.
Um, so we were in contact during1617 with many facilitators, and
that said that it would be agreat idea to extend what we
were doing for Venezuela to therest of the, of the region.
So, um, afterwards, uh, in two19 we got into startup Chile,
(02:11):
which is a program that'sconducted by the Chilean
government.
And, uh, we got some grantfunding and we found here in CHI
extended to the US and we're nowcovering five countries in Latin
America with the services thatwe provide.
Speaker 1 (02:26):
Beautiful.
Wow.
That's quite impressive.
Thank you.
I, I wasn't sure about thestartup Chile part of your
story.
I didn't know about it.
I don't remember that part ofit.
I mean, that's quite a programthat Chile has is an example in
Latin America.
Speaker 2 (02:41):
Exactly.
And it, it's starting to, to bepromoted to other countries.
Actually, startup is starting tobe a success case in, in many
countries.
In, in Latin America.
Uh, we, we have the, the, theknowledge of, uh, certain
programs in Columbia that aredoing exactly the same.
We have, uh, Puerto Rico'scalled, called parallel 18.
Uh, the previous, uh, directorwas a director for Startup Chi
(03:04):
as well.
I
Speaker 1 (03:05):
Read it, yes.
Yeah,
Speaker 2 (03:07):
Exactly.
And, and it's a program that,um, these are programs are super
essential, uh, in, uh, creatingan ecosystem for, for startups
to grow in those spaces and thenstart expanding from those
specific countries and, andstarting exporting other parts
of America.
So where, where we didn't seethe opportunity in Venezuela
(03:30):
inability of the country, we, wefound opportunity and started
more extending from chi to otherparts of America emerge.
Speaker 1 (03:38):
Okay.
Very good.
Alright, so Luis, let's talkabout trends.
What, what do you see happeningin Latin America, uh, from the
political, economic, or socialstandpoint that is relevant to
our discussion today?
Speaker 2 (03:52):
Well, and that's a great question.
Um, we are currently focused ononcology.
So I'm starting seeing thetrends in the, in the area.
Um, we, we recently werereviewing, uh, many of the
reports from global, uh,starting.
And we saw the number of casesin the cases in drastic, uh, one
(04:16):
of the reasons cancer, somemedical circles called, uh,
middle class disease.
Uh, cancer happens when youdon't die, other things
So
Speaker 1 (04:27):
I didn't know that.
I mean, that's fuzzy, maybe.
So middle class disease,
Speaker 2 (04:31):
It happens, for example, whenyou have Africa and Latin
America, uh, overcoming diseasessuch as small books or, uh,
dengue, malaria, uh, then peoplegrow old enough to, to have
cancer.
Uh, in the case of Africaparticularly, it's being called
an epidemic.
Right now you have around threeand cases reported every year
(04:55):
when there were 20 years ago,uh, or very few, many years ago.
So in, in that sense, uh, LatinAmerica is starting to see a
huge trend in, in cancerdeveloping in the region.
Uh, the, the, the first and mostprevalent one is, uh, breast
cancer, and the second one iscervical cancer.
In many cases, cervical cancerspecifically is caused by
(05:19):
classes 16, 18 high risk, uh,PPI virus.
And of course, if you startseeing papillomavirus as
something that's, uh, an, an stiuh, sexually transmitted disease
, uh, std I'm sorry, then youstart seeing the trend of, uh,
how cancer spreads like anepidemic.
So, uh, it, it's veryinteresting that, uh, when you
(05:41):
start seeing the diseases thatthe, the people have, uh, then
you start seeing that, uh, thesediseases are related to
overcoming, uh, extreme povertyin the region and, um, people
increasing their lifespan.
So you start seeing, uh,diseases that have been
prevalent in the developedworld, and they're starting to
(06:02):
show up in the developing world,and we are prepared to deal with
malaria.
We are prepared to deal with,um, we are prepared to deal
with, I don't know, small books,but we are not prepared to deal
with cancer.
So there's a huge trend in thedeveloping world to start
preparing for these, uh, middleclass diseases.
(06:26):
Um, and, and, and it'sinteresting because these are
niche that are not developingmedicine in the region.
So there's a huge need fortechnology.
There's a huge need for, forawareness, and there's a huge
need for education of people to,in order to avoid, uh,
developing these diseases
Speaker 1 (06:45):
And screening, I would say too, right?
Yeah.
I mean, innovative technologies,as you correctly said to screen
patients, because now, um, you,we have, um, newer technologies,
for example, just to give you anidea, I'm dealing with a client
of us who has probably the onlydevice in the world that can
(07:10):
detect the change of temperaturein the breast.
Speaker 2 (07:14):
Okay.
Speaker 1 (07:14):
Prior to, to a woman going to mammography.
So you have this little device,it's a$10,$20 device that you
get at the drugstore.
You put it in the fridge, andjust every three months or so,
just, uh, put it next to yourbreast and then it will give you
an indication of, uh, a changein temperature so that you have
(07:36):
an alert, uh, you tell yourdoctor and then you get sent to
mammography.
Speaker 2 (07:41):
So Exactly,
Speaker 1 (07:42):
Yeah.
Another technologies like thatI've
Speaker 2 (07:44):
Sent to, no, and, and it's amazing.
Uh, these are very, veryincredible technologies.
Uh, the, one of the keyadvantages of technology is that
, uh, the sooner you develop the, that technology and you have
that technology in the market,uh, for longer lifespans, uh,
then of course the technologycan become cheaper.
(08:05):
And it's something that's, uh,something that can be acquired
and massified in the, the
Speaker 1 (08:11):
Exactly.
Exactly.
Alright, Luis, so let's talkabout what you guys are doing
with psi.
What problem are you guys tryingto solve with the, the, the
company and what challenges areyou facing in doing business in,
in Chile and the other countriesin the region?
Speaker 2 (08:30):
No, that's great, and thank you for that question.
Um, pretty much the thei isreducing, uh, time for, uh,
cancer, um, diagnostic and timeto treatment by half, uh, for
the developing world.
Um, this problem merges, like II said before, there, there are
(08:50):
some figures you have withcancer in 2020 and race between
comes specifically for, fromAmerican Africa.
And, uh, we have an disadvantage, uh, when for cancer detection
(09:12):
treatment, 60 days, um, in LatinAmerica, the meantime days.
So there, there are someresearch that indicate that for
every 30 days that you takepatient reduced by.
(09:33):
So yeah, you started with ahandicap when dealing with
cancer in our regions, you mighthave hundred, 2,050 days before
you get a, a certain diagnosis,uh, from the patient.
So, uh, that means that, uh, forregions such as Latin America,
(09:54):
Africa, south Asia, dealing withcancer is even more expensive
than, uh, not never to mentionthat the the dropping quality of
care and quality of life forthose patients, but it's
actually more expensive.
Cause when you start treatingthe patient, the patient is in a
, in a stage that's furtherahead, when you might have found
(10:14):
them in the develop world, instage one or two, you'll find
them in stage three or four herein LA America.
So what we developed issomething that we saw in the
region that was happening, this,uh, thing about moving cancer
information from one place tothe other.
For example, if you have thesuspicion that you have cancer,
the first thing is to create abiopsy, uh, or, or to take a
(10:37):
biopsy outta the tumor.
And then you might take one day,two days analyzing the report,
and then you have to wait forthe patient to pick that report
up and then take it to thephysician so the physician can
review it.
And then this whole processtakes 10 days.
And then you start, you have thebiopsy report and the physician
(10:58):
says that he alarm.
And now you have to the patientinto the, as fast as possible.
And that takes another days.
So in the patient might havecancer and moment the patient is
having the first went by.
(11:18):
So what we created is, uh, pgaan oncology information system
that allows you to haveeverything that is connected to
the patient's cancer suspicionin the same platform.
And, uh, which, uh, first allowsyou the access to the
information.
Secondly, gives you all thealerts and warnings that, for
(11:40):
example, a result is ready or apatient needs treatment at
certain point.
And third allows you to createstatistics outta all information
.
Idea is to create, create thisoncology information system that
first allows you to controlwhat's happening in the oncology
institution.
And second, and most importantly, is to connect all the dots.
(12:04):
Then, uh, you have all theinformation that you need to
make, uh, decision about thepatient.
So, uh, we started working in,in the first area that we
touched was, uh, suspicion.
Uh, we started working with, uh,screening protocols.
Uh, the first one we launched,we launched in July, uh, July,
(12:25):
2020.
In July, 2021, sorry.
Uh, in, in Ecuador inka, wescreened around 3000 women for
human, uh, reported to thephysician.
The up on the infection that wasfound.
(12:53):
This is high risk human virus.
Uh, those patients are at riskof, uh, probabilities of
developing, uh, cervical cancer.
Um, we are also extendingprotocol to, you know, uh, in
Latin America precursor, uh,lung cancer, uh, specifically in
(13:14):
Chile.
It's a very, very big problemdue to contamination.
And, um, then afterwards in thediagnosis and treatment phase,
we created a platform called,uh, which allows physicians to,
uh, remotely connect, uh, todiscuss patient's, uh, case have
(13:35):
all these, uh, assets, uh, inline for example, you have, uh,
your mammographies or yourimmunology reports, your
laboratory reports, your, um,anatomical path reports.
If you have, uh, molecularscreening of a patient, you have
that available as well.
So when you have thatdiscussion, you have all the
(13:56):
assets that you need, you createa treatment case or a treatment
plan, and the platformadministers the treatment plan
and gives you warnings when thispatient is supposed to have a
chemotherapy or what is the, theexpected date of the surgery for
the patient.
So it allows you to synchronizeall the resources that you need
to give attention to thepatient.
(14:16):
So, uh, in ensure, pretty muchwhat we do is we collect all of
that information and create asingle pipeline, uh, to join the
patient under care team in allof the patients, uh, uh, journey
throughout cancer, hopefully,uh, joining them also in
researching how they, uh, whatresult did they have from their
treatment, and how thattreatment will benefit a patient
(14:38):
with the exact same type ofcancer.
So in the end, it's connectingenough information from a region
that has 70% of that informationin paper, uh, in order to create
artificial intelligence thatallows you to predict and
prescribe the type of treatmentfor our patient, uh, a singular
patient
Speaker 1 (14:58):
Who pays for this platform.
Who's your client?
Yeah,
Speaker 2 (15:03):
That, that's very interesting.
We have, uh, different client,uh, we have a client and then we
have an end user.
Speaker 1 (15:09):
Exactly.
Yeah, I imagine that mm-hmm.
Yeah.
Speaker 2 (15:12):
Yeah.
Um, currently we, most of ourcustomers are, uh, pharma
companies, uh, that areinterested in conducting real
data, real research.
Uh, our biggest customer is wework Chile.
Um, then, uh, with what we dowith them is, uh, we created,
(15:35):
uh, an r and d platform thatallows, for example, a physician
to interact with the patient,store that information.
Then, uh, they send, uh, uh,consent form using the platform
that is digital designed by thepatient and allows their
information to be used inclinical research.
This is a completely automated,uh, process, and, uh, it gives
(15:56):
the, the pharma, uh, a hasslefree way to obtain high quality
data to perform the research.
Speaker 1 (16:03):
Absolutely.
Mm-hmm.
Yeah.
So, so the, for the client, I'msorry, for the end user, um,
well, I, I, I, I take that back.
So the platform is, is free oris easily accessible to a
hospital, easily accessible to a, uh, a patient so that they can
(16:24):
more freely enter the databecause they are really the
source of data.
And then you sell that data tothe pharmaceutical companies or
whoever, industry
Speaker 2 (16:36):
E Exactly.
We sell aggregated, anonymizedanalytics of that information.
Yeah.
We never sell the sourceinformation.
We actually don't, we don't haveaccess to it.
Um, whenever we enter theplatform, it creates, uh, its,
uh, encrypted.
Uh, there are two keys that canuncorrect the information.
The first one is from thephysician, and the other one is
(16:58):
from the patient themselves.
Uh, so we don't have anythingthat can identify a person.
Uh, we create our protocolsusing aggregated information,
and that is an information thatwe use, for example, to train
artificial intelligence.
Well, we have an alliance with acompany in Spain that's
We're trading artificialintelligence algorithms to
(17:19):
predict the best course oftreatment for, uh, breast
cancer.
And, um, there are many otherthings that you can do.
For example, if you introduce anew medication or a new
chemotherapy treatment forcertain types of cancer, you can
validate the results in actualpatients.
Um, and that, that's, uh, theidea of, uh, having clinical
(17:41):
information as a source of truth, and giving physicians also
interfaces allow to create highquality clinical data, uh,
instead of, uh, just writingthings down in, uh, unstructured
processable performance.
Speaker 1 (17:56):
Yeah.
But, but was the experience ofthe physician or the patient,
uh, with the platform, because,uh, from the standpoint of a
hospital or physician, don'tthey find this redundant to have
to enter information in aelectronic medical record
platform, and then in yourplatform, I guess you're
(18:16):
separate.
How does it work?
How's the adoption?
Speaker 2 (18:20):
The, the platform works as an emr.
Uh, an e uh, we, we have, like,we were actually discussing this
, well, one of the, uh, thismorning, uh, they say, you
don't, Eva, there's no way youcan evade, uh, doing like ehr, e
R P software development.
I said, no, because most of the,uh, clinics in America are still
(18:42):
on paper.
Uh, there's a study from the,the international
telecommunications that saysthat Latin America has like 3%
of their clinical informationstill on paper.
So
Speaker 1 (18:54):
Um, wow.
Speaker 2 (18:55):
Yeah, case
Speaker 1 (18:56):
Far.
If
Speaker 2 (18:57):
You wanna install, yeah, a beautiful tumor board
that will allow you to discusstwice as much, uh, cases, twice
as many cases, I'm sorry.
And during the, the week, then,uh, you start seeing that for
the Tmobile to work, youactually have to have digitized,
uh, assets.
So then you have to providethose physicians with some sort
(19:20):
of, uh, tool to actually, uh,digitize the information.
And then you have to installyour, uh, his software.
And then we, we started likeworking from the his, which is
the base, and then we startedadding like these cherries on
top.
Like for example, the tumorboard, the screening platform.
But you cannot have a screeningplatform or a tumor board if you
(19:42):
don't have an, uh, so we havelike two flavors.
It depends on the institution.
If they have a, is we createinterfaces with their his to
recover valid information to gointo the tumor board.
If you don't have a hip, no, ahis, don't worry, we have you
covered.
And, uh, then we create anecosystem for information to
(20:04):
move in the clinic in a digitalformat.
Speaker 1 (20:06):
Okay.
So right now, tray is cancer.
Are you looking, uh, does yourroadmap include other
indications or other therapeuticareas?
Speaker 2 (20:18):
Yeah.
Um, we currently are seeing the,uh, the space of chronic
diseases in Latin America is the, in Africa as well is the least
, the least inhabited, I'm sorry, by solutions, uh, because you
don't have anyone that'sintegrating, uh, information in
all of those spaces.
Uh, we have had, um, proposalsto, for example, this, uh,
(20:39):
tuberculosis protocol, uh,respiratory diseases.
There are, uh, prevalent in theregion.
Uh, we have had an invitation todo an Alzheimer long run test as
well.
Uh, so the, the space forchronic diseases is, uh,
interesting.
But the fact is that oncology isa very large niche in itself.
(21:02):
And, uh, we see a huge impactopportunity, uh, oncology
protocol.
Speaker 1 (21:08):
Excellent.
Very good.
Congratulations.
It looks like a thank you.
A promise in technology orplatform.
And what countries are youcurrently in right now in Latin
America?
Speaker 2 (21:19):
We are operating in Chile.
It's, uh, chiles, ourheadquarters.
We are doing, uh, we're workinginu, Dominican Republic.
We have a, like three or fourcustomers in Colombia.
Uh, looking forward to expanding, uh, faster in Colombia.
And we recently had interviewwith Primary care center in hon.
(21:45):
They want to start using theplatform, so probably gonna have
a couple customers in Hons.
Um, and, uh, then we'renegotiating with our first
customer in the us given thatthey have to, that takes a bit
longer, but trying to have, wehave few customers in many
countries.
(22:06):
The region, uh, every countrythat you see through is a, is a
challenge because, uh, everycountry has different, uh,
legislations.
And then you have to make surethat you're not stepping
anyone's sos.
Speaker 1 (22:20):
Exactly.
Yeah.
Uh, the, that's the nextquestion that I have for you,
Luis.
Challenges and best practices.
Uh, can we identify some chcommon challenges, uh, uh, among
all these countries?
I mean, across the board, haveyou seen kind of a partner of,
uh, of, of accessing the market?
(22:41):
Is it the language?
Every country has a differentkind of dialect in Spanish,
different way of doing things,or same things, uh, as you
correctly said, the, uh,legislation, the regulations are
a little different in everycountry in Latin America, and
that's a big challenge in theregion is so fragmented, right?
So please speak about challengesand, and if you can give us some
(23:04):
tips or best practices, that'llbe ideal.
Speaker 2 (23:08):
Uh, that, that's great.
Uh, that, that's a greatquestion.
I think, uh, the biggestchallenge, as I said, is the
difference in legislalegislations between the
countries and, uh, themisconception that Latin America
is a black country.
Like, for example, you have, and, uh, like in, in Europe, and
this is only recently, like 20years from now, uh, in Europe,
(23:30):
that you have a single, uh,entity that gives you access to
the whole market.
So in Latin America doesn't worklike that.
Every itself, every has theirpattern terms of information and
their, uh, legal framework.
Uh, for example, um, when, inour case, one of the things that
(23:53):
helped us, uh, penetratecountries faster is the fact
that we cover, uh, legislationin, in the US that's called,
it's, uh, extremely, extremely,uh, secure, one of the best
legislations in the world for,for accounting on, on patient
privacy.
And, um, that makes it, wheneverwe go into a country, we have to
(24:15):
learn like the, the key issuesthat we might find in the, the
country's legislation.
But it's usually faster and, andmuch easier to implement since
we comply with this very, verydemanding, uh, legislation.
We also, we also comply with isoand in many countries, the of
(24:37):
the law included for privacycontrol, uh, standard like a, a
nine, 9,001.
So if you comply with these, uh,international standards, it's
going be a lot easier to respondto what the country is requiring
from you.
I would say the, the other largechallenge is understanding the
(25:00):
customer in each of those, uh,countries.
They have different expectations, different technological
development stages.
And, uh, expecting, for example,a clinician from Chile to, uh,
have the same level or, or thesame awareness about technology
as a clinician.
Columbia is, it's very, very, isa severe understanding.
(25:25):
Um, um, there, there's probably,uh, more, at least in the
private sector here, some moreawareness for, uh, healthcare,
uh, technology and, andhealthcare information
technology in particular.
You might have in, in Columbia,perhaps not in Bogota, but uh,
in other cities of Colombia, oryou might find, for example,
(25:46):
example, I've been talking, uh,I've been talking recently with,
uh, the healthcare ministry.
Many other things that we'reproposing to them are, are
completely new.
They didn't know that it couldbe done mm-hmm.
And it's super interesting interms of, there's a huge amount
of opportunities, but of courseyour sales cycle be a lot
(26:07):
slower.
Cause there's a huge educationcomponent in that, uh, sales
cycle.
So, uh, you have to say topeople what they can expect,
what is the result that they'regoing to get and, uh, uh, what
is the, the type of revenue orthe type of increase in
(26:29):
efficiency that they'll get fromimplementing those type of
technologies.
Cause you have to tell them thewhole story.
Um, in, in many countries, I, Iwill guess that that
encyclopedic knowledge is notnecessary to, to be shared
because people already have it.
Um, here in Latin America, youhave to start from scratch.
Speaker 1 (26:48):
Hmm.
Interesting.
Alright.
Alright.
So Luis Yeah, go ahead.
Speaker 2 (26:55):
No, no, I was going to say, if you are the guy that
actually, uh, tells them thestory for the first time, uh,
then you are one step closer to,uh, getting the niche market,
uh, specifically for you.
Cause uh, yeah, you're theperson that knows, uh, about it
and you're gonna be the point ofpreference.
Speaker 1 (27:14):
Sure.
Yeah.
Yeah.
Alright.
So any best practices, uh, anysuggested, uh, tips or, or, uh,
courses of action that companiescan take when navigating these
waters and all these countries?
What would you say will be yourmuscles of, of wisdom?
What would you say to somebodywho's just starting to, uh, uh,
think about Latin America as aplace to do business based on
(27:36):
your, your challenges and, andhow, what you have done to
overcome them?
Speaker 2 (27:41):
Uh, I would say there are three things that you have
to do first.
Uh, get a, a close look of themarket that you're entering.
See if there's any localdominant, uh, driving force in
the type of technology thatyou're trying to introduce to
the market.
Uh, seeing the stage ofdevelopment that is also
important.
Uh, then when you get into themarket, you have to know that
(28:02):
latinamerican markets mo more onconnection and less on value
proposition.
So, uh, get a first customerthat's highly respected in that
society or that country.
Speaker 1 (28:15):
Mm-hmm.
Speaker 2 (28:17):
Exactly.
Create, uh, success cases.
Uh, that's the most importantthing to do.
And you create that successcase.
Do not be shy in telling thatperson to introduce you who
might to their circle, who areinterested, who are interested
in having their technology.
Um, I, I would say there aresome countries where, where you
(28:39):
try to give that technology foryourself because it gives you
competitive advantage.
But in, in latinamericancountries, people are, are like
super happy to show off, uh, howgreat their technology is.
So that's something that you cantake advantage of
Speaker 1 (28:55):
Sure.
Theirs.
Speaker 2 (28:57):
Exactly.
And saying let's share this hugesuccess that we, people in your
circle, I'll make you look good.
And, uh, and, and it actuallyworks.
Who works super well.
Speaker 1 (29:11):
Great sales tool.
Yeah.
Thank you for that tip.
I mean, very nice.
I like it.
Speaker 2 (29:15):
No problem.
Speaker 1 (29:17):
Alright, so Luis, work close to the end of the
show.
Uh, how can people get in touchwith you?
Speaker 2 (29:22):
You can reach us on our website, tei io.
Uh, you can also write me myemail, Luis santiago psi io.
Uh, we have everything for youroncology needs, um, oncology
information systems that canactually help you reduce, uh,
the time that you take todiagnose and treat a patient
(29:42):
behalf.
Um, we're also probably going tobe in some events that you might
go to in the healthcareindustry, so be on the lookout
for us.
Speaker 1 (29:54):
Excellent.
You guys are active on LinkedIn,I'm sure, right?
Speaker 2 (29:57):
Yeah, yeah.
You can reach me.
My LinkedIn profile's profile.
We're active with both.
Speaker 1 (30:04):
All right.
Luis, thank you so much forbeing here.
It's been a pleasure sharingthis.
Thank you, um, information withyou.
Uh, thank you for sharing yourknowledge, your experience and
your vision to dominate theoncology marketing Latin America
exciting, uh, niche andprevalent that you're trying to,
to solve.
Congratulations,
Speaker 2 (30:23):
Thank you very much.
And and you too.
I'm a fan.
The podcast.
Amazing.
Well,
Speaker 1 (30:34):
Thank you.
Bye-Bye
Speaker 2 (30:36):
Byebye.
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