Healthcare facilities and their reach, and the availability of medical practitioners including doctors, nursing staff, and paramedics is not yet up to par in our developing nation. A patient has to go through the pain of not getting appropriate and optimum care at the required time and at an affordable cost. A lack of access to expert opinion and aac badly organised healthcare system are some of the other pain points. There is a lack of healthcare awareness not only among the poor and illiterate but also among the educated population. Abdul Sabir Khan and Satinder Singh Arora saw an opportunity in these gaps and founded Niramaya in March 2015.
Abdul says, "We are looking to provide a healthcare ecosystem which can give all medical/healthcare information at one touch and simultaneously share knowledge of healthcare service providers with people."
The masses are made aware about healthcare issues and healthcare services providers using social media and the Niramaya portal.
Niramaya offers three packages to healthcare service providers. Each package allows its customer to share the story of the patient, critical case, blog, or information.
According to Satinder, "Niramaya means well-being. The company’s name is actually Managelete Healthcare. The word ‘managelete’ is a conglomeration of two words — ‘manage’ plus ‘athlete’. This defines our presence in healthcare and driving fast nature towards our goal."
In Madhya Pradesh alone, it has an approximately Rs 100 crore market constituting around one lakh healthcare service providers. In India, there are around 20 lakh healthcare service providers, which means a market size of Rs 2,000 crore.
Till now, Niramaya has over 77 paid healthcare service providers. It has made more than Rs 7 lakh in 10 months. The company is soon aiming to register 500 doctors in each city.
Niramaya charges a subscription fee for product and support services. Their other sources of revenue include:
- Special care package
- Lab referral expert opinion fee
- Other major source of revenues will be advertisement from medical and insurance companies
As Abdul explains, "Life-time value of an average customer is near Rs 60,000. This average is calculated per five years, i.e, 5* 12,000. This gives us a conversion rate of 20 percent.”