The economic afflux to analyse the healthcare services has been used for many decades. With WHO ranking India 112 out of 190 countries, the country seems to be in a deep crisis and desperately needs a system that could not only help people in urban areas but rural areas too. Our country faces a growing need to resolve health concerns in specific areas like STDs, Malaria, etc. The increase in ageing population, rising economy and development of primary care facilities are predicted to shape the structure of healthcare services in India. Improving internet connectivity and use of smartphones to access services has added to the growth of the country, not only economically but from a perspective of health too. Health-tech startups are coming up in India rapidly and this sector has seen the highest amount of investment in recent times. Moreover, these startups are also adding to the rapid growth of this sector. With lifestyles changing, taking care of one’s own health seems to be a lost cause. To resolve healthcare problems by providing basic knowledge, booking appointment with a doctor, getting tests results to predicting a problem, Healthiply came into being.
Founded by Vivek Singhal and Abhishek Bhardwaj in December 2015, Healthiply is a health-tech startup focused on early detection of health issues and prevention of lifestyle diseases. Vivek has spent several years in India and USA working for leading MNCs and startups. He has long experience in telecom and digital industries in Business Strategy, Mobile tech, Social Commerce and Telecom solutions, in leading MNCs like IBM, AT&T, Schlumberger, HCL-HP etc. Vivek holds a BE from IIT Roorkee and MBA from Georgia State University, USA.
Abhishek is a leader and an evangelist in internet and social media industries with specialization in marketing, media and web analytics. He has helped countless organizations in achieving an effective web strategy and powerful online presence. Abhishek has deep insights in Search, Social Media and User Engagement and has mentored several emerging startups in the internet and mobile ecosystem. His last startup Erachnida was instrumental in driving web innovation for many leading clients in USA, Europe and India. He is an Engineer by education with a B. Tech in Electronics and Communication Engineering.
Talking on the same Vivek said, “A basic Indian visits doctor only when the problem is existent. We want to drive a behavioural change, to make this possible we came up with this venture. From preventive healthcare services, to follow-up checkups to providing basic knowledge through online seminars and conferences, we provide all.”
Consumers can book these tests online and the platform guides them through the check-up process, sample collection and online delivery of lab reports. Healthiply closes the loop on a preventive check-up and puts the customer through a tele-consulting and telemedicine cycle with its panel physicians. The tele-consultation leads to follow-up care recommendations for medicines and future checkups, which are set into a reminder app used by the consumer. This leads to complete lifecycle management of healthcare. All of the health records including lab reports and doctor prescriptions are stored in the mobile and web version of Healthiply EHR system (Electronic Health Records) for future references and sharing. The company is planning to introduce lifecycle management, health reminders, data analytics and disease prediction.
Monetisation & Traction
As the company has tied up with various diagnostic labs, clinics and hospitals, it monetises by charging these clinics and centres. The commission goes upto 40-50% of total transaction, Vivek added.
The company claims to have served almost 2000 customers since its inception. “Our sales are growing by 50% on an average month-over-month since inception in Nov 2015. We have some of the best healthcare content online as well as a 1 lakh+ strong community on our social platforms, that is engaged in health discussions,” Vived quoted.
Funding & Market
The company is currently being bootstrapped and is looking to raise $500,000. Vivek said, “A lot of angel investors have approached us in the past few weeks and we’re actively in touch with them.”
According to IBEF, Healthcare industry is growing at a tremendous pace owing to its strengthening coverage, services and increasing expenditure by public as well private players. During 2008-20, the market is expected to record a CAGR of 16.5 per cent. The total industry size is expected to touch US$ 160 billion by 2017 and US$ 280 billion by 2020. As per the Ministry of Health, development of 50 technologies has been targeted in the FY16, for the treatment of disease like Cancer and TB.