The bootstrapped platform gives access to a comprehensive range of healthcare services across three broad categories: emergency, medical assistance and wellness.
Emergency services in the form of a calming voice at the other end of the phone is no less than a godsend in times of distress, be it due to an accident, reporting a burglary or grappling with a health scare. Kolkata-based Gunjan Poddar has always been fascinated by the 911 emergency service in the US. He wanted to create something similar in India, where people can be assured that they have someone ready to attend to their health and medical emergency needs round the clock.
Thus, with a clear vision, Gunjan bootstrapped HealthyBillions into being in September 2014, with an initial capital of Rs 3 crore. The startup gives access to a comprehensive range of health services across three broad categories: emergency, medical assistance and wellness. It offers on-call doctors, round-the-clock emergency ambulance service, medical opinion and diagnostics, medicine drop-offs at home, preventive wellness plans, etc.
The startup has over 2,000 partners—diagnostic centres, hospitals, dental and eye clinics, and ambulance service providers—across India. HealthyBillions follows two membership models.
“Commercialisation of healthcare is making it hugely difficult for the common man to get immediate attention in case of healthcare requirement. There is no knowledge repository/guidance for a common man to refer or talk to in case of any healthcare requirement,” says Gunjan, who has completed his Master's from Purdue University.
Earlier, he had worked as a director in companies like TechShu, BusinessPro Technologies, Limtex InfoTech and Teleus Pty.
Headquartered at Kolkata, HealthyBillions has 100 employees and is currently present in Delhi NCR, Bengaluru, Mumbai, Hyderabad and Chennai as well. The startup generates revenue from facilitation fees from services utilised by the members, and corporate membership/wellness programmes. Currently, they have 35,000 members in Bengaluru and Kolkata.
“We have a strong partner management team in each city, which work towards ensuring all partners are accredited and have standard operating systems in place to match our requirements. We also sign an agreement with all partners to ensure our members get what we promise,” says Gunjan.
In November 2016, HealthyBillions raised Rs 5 crore from a UK-based firm, and used it to build up its technology, and also for marketing, sales and operational efforts. The startup aims to reach 10 lakh members by 2020.
In terms of revenue and employment, healthcare in India has become one of the largest sectors. Healthcare comprises a host of services, which include those of hospitals, clinical trials, outsourcing, telemedicine, medical tourism, health insurance, and use of medical devices.
According to India Brand Equity Foundation, the overall Indian healthcare market is worth around $100 billion and is expected to grow to $280 billion by 2020, a compound annual growth rate of 22.9 percent. Healthcare delivery, which includes hospitals, nursing homes and diagnostics centres, and pharmaceuticals, constitutes 65 per cent of the overall market. The Healthcare Information Technology market, which is valued at $1 billion currently, is expected to grow 1.5 times by 2020.
Digital healthcare startup Practo Technologies has raised $55 million in series D round of funding led by Chinese investment holding company Tencent Holdings, which will be used for expanding its product portfolio. Bengaluru-based health technology startup SigTuple Technologies has raised $ 5.8 million in series A round led by existing investor Accel Partners.
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- healthcare delivery
- India Brand Equity Foundation
- SigTuple Technologies
- Digital healthcare start