Business Category: Healthcare
Founding Year: 2014
Startup Stage: Revenue Generation
Support Required: Funding Mentoring Others
Fund requirement (): 80000000
Structure of the Company: PVT Ltd.
Executive Summary: Medi360 is a health service provider working on a low cost Tele-health platform (Diagnostics, EMR capture and consultation), reliable doctor network and last mile delivery through physical clinics managed by an operator/ a medical assistant across rural India.
Market need: We are addressing the need for accessible and affordable healthcare services in rural India. Currently our focus is in the states of Bihar, Chattissgarh, Jharkhand and Eastern UP. This problem is severe, as highlighted in some of the data below. For example as highlighted in the data below, a large proportion of population (10,000+ per lakh) suffer from chronic illnesses, however, less than 50% of them seek treatment for the same. http://www.censusindia.gov.in/vital_statistics/AHS/AHS_report_part1.pdf Some of the ground level issues are the below: 1. Low public spending on healthcare 2. Low doctor to patient ratio 3. High percentage of rural population These factors have contributed to a very high cost of healthcare in private sector, which many poor patients are forced to pay as there are no credible alternatives. Moreover, a number of solutions on the ground are either focused on medical devices in a particular area or non-scalable business models that beyond a point do not provide a compelling long-term solution for providing on the ground primary healthcare attention in the underserved areas.
Product/Service description: The Medi360 solution aims to provide quality healthcare services to low Income population in areas where there is a paucity of doctors. It comprises of the following components: 1. Technology platform - Medi360 Hospital / Clinic in a Box, a cloud based End to End Technology enabled low cost Tele- health solution which comprises of: a. Electronic Medical Records b. Integrated diagnostic devices – Vitals (BMI, Temperature, BP, SpO2), ECG, Blood Glucose and other strip based blood tests as required c. Remote consultation and Prescription The deployment is in the form of mobile unit accessed thru an Android Tablet 2. Doctor network with committed capacity from General Practitioners with additional capacity provided on schedule by specialists 3. A last mile delivery network leveraging private operators to set up Medi360 clinics; (Pharmacies, village entrepreneurs etc) manned by technicians and a strong operational framework to manage on ground operations
Customers/Users: Our end customers are rural patients who are looking for easy access to quality healthcare. They are adult men and women who work on the farm, own shops or are migrant laborers. Our users are rural entrepreneurs who are associated in the Healthcare segment and would like to formally get involved and Local government: We will have data with respective to ailment and diseases in these areas and the same can be used to derive useful patterns for healthcare providers and government.
Revenue Model: Our revenue sources are as follows: a. Consultation revenue share b. Diagnostic revenue share c. Referral commissions (pharmacies, secondary consultations, labs) d. Rental fees e. Platform sale – government deployment or sales of platform to other parties interested in setting up rural healthcare delivery network like NGOs etc Recurring revenue sources are: a. Entrepreneur / Private Doctor / Pharmacy Sales – Rental fees b. Platform sales (Government sales, NGOs) – AMC, which is typically 15 – 10% of the platform sale revenue c. Individual Customers / Patient – Treatment of chronic ailments for example packages for diabetics, cardiac ailments etc
Current traction: We are running 12 centres across Bihar, Chhhatisgarh and UP.