Healthcare is ahead of the curve when it comes to innovation and technological advancement. Healthtech remains the intersection between health and technology. The basic needs of a developing country like India include this sector as one of its top priorities. The delivery of healthcare services have undergone an evolution in past few years. For many natives, the cost of services and most importantly access has been an issue since many years. Not only in rural areas but urban areas are also in compelling need. Moving towards the work culture, where eating has no time, medicines become a lost cause. To fulfil basic medical needs to stay healthy from buying medicines online, setting up vaccination reminders to consulting a doctor through chat, HeyCare came into being.
HeyCare was founded by Deepak Tomar in October 2015. His aim is to leverage technology in assisting people with the necessary information, tools and support in following medications. Deepak said, “At HeyCare, we have developed an idea or an m-Health solution that will benefit the consumers, vendors, or a complete Healthcare Industry. We are revolutionizing the way patients and doctors connect, keeping our aim to serve the maximum population and changing the perspective of healthcare in India.”
Deepak has been senior executive with over 12 years of extensive experience in international business and technical leadership in the Information, Internet, and Services industries. Designing and building IT architectures and products to meet the needs of information intensive clients has been Deepak’s forte.
Services offered by the company
- Buying online medicines: It has been a difficult task to manage work and health simultaneously. How many times has one desired to order medicine like food? Be it for your family or your own, compromising health has never been a safe option to choose. One can now easily buy medicines through this app.
- Pill Reminder: Well, you can buy medicines but who’ll remind you to take them? Family? Becomes too difficult to take call reminders for medicines, specially from your mother. Well, the app doesn’t just tell you when to take your medicine but also how to take it and with what.
- Vaccination Reminder: How does one know when to get your kid vaccinated for polio, hepatitis B etc? Well, this app just does the work.
The company will soon come up with services like Doctor Appointments, Diagnostic Labs, and HeyCare Wallet. When asked Deepak about the medical healthcare records, he stated that they have a cloud-based system where its users can upload their healthcare records which then makes it easy for doctors to diagnose the patient.
Monetisation & Traction
The company monetises on a commission based model, where they earn from selling medicines, aggregating doctors, setting up appointments with diagnostic labs etc. Also, through their HeyCare wallet they charge 2% of every transaction. The company is also planning to tie up with pharmacies and providing them analytics.
The claims to have between 500-600 downloads in just 14 days of the app launch. Further, Deepak said that they haven’t started the marketing process but will soon enter the arena. “After we launch the second version of the app, we’re going to initiate the marketing process.”
Funding & Market
The company is currently being bootstrapped. On the same Deepak quoted, “We’re looking to raise $800,000. These funds will be deployed in marketing and product development.”
According to a report published on 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%. The total industry size is expected to touch $160 billion by 2017 and $280 billion by 2020.”