Bootstrapped healthcare startup Clinivantage connects patients with doctors in real time
Delhi-based Clinivantage is an integrated digital platform that is patient-centric, and connects patients with doctors, hospitals, caregivers, and service providers.
At a glance:
Startup: Clinivantage
Year it was founded: 2017
Founders: Nilesh Jain, Dinesh Samudra and Abhay Chopada
Sector: Healthcare
Where it is based: New Delhi
Problem it solves: Doctor and patient content
Funding: Bootstrapped
The cloud has made data sharing easy in today’s world. Everything - from pictures, to content, to videos - is easily shareable and accessible. Yet, 37-year-old Nilesh Jain found that sharing healthcare data with a doctor in real-time for an opinion was difficult.
“It was courier across the globe of all the reports – from MRI to CT scans. I wondered, in an age where we can do banking without going to the bank, and pretty much everything is moving to online, why not healthcare, and that is how Clinivantage was born,” says Nilesh.
Along with his friends Dinesh Samudra and Abhay Chopada, Nilesh started Clinivantage, where the patient was the main focus. It is an integrated digital platform that connects patients with doctors, hospitals, caregivers, and service providers in real-time.
By placing the patient at the focal point, the platform brings speed, simplicity, transparency, and efficacy to patient care. Working as a platform-as-a-service (PaaS), the startup helps in qualitative and quantitative optimisation of therapy decisions in a patient-centred, multi-professional setting.
How does it work?
Clinivantage enables doctors, therapists and specialists, connect with patients anytime and anywhere. It works with small, medium and tertiary care hospitals in private and public health space, and the platform manages transactional, clinical, administrative and commercial data seamlessly in an integrated system to deliver outcomes expected by provider management.
The team has built a consumer-facing connect app called MyLife for retrieval and storage of medical records, access to primary care providers, and live access to all types of connected networks by collaborating with across the care provider network Telemedicine.
The MyLife app also helps to capture metrics related to a patient’s health. It shows the progress a patient has started making after starting the recommended therapy.
After passing on the information to the patient via MyLife app, it delivers the results at a certain price. Clinivantage also helps a healthcare provider interact with his patients, assess their condition in real time, offer advice and suggest the appropriate remedies, irrespective of geographic location or time zone.
The practitioner facing app - CareBridge - helps remote care across all patient provider facilities (multiple hospitals, clinics, etc) and systems.
The data the healthcare providers collect can be subject to cognitive analysis, which will allow them to further investigate findings and use them for optimisation, risk stratification and prediction.
The revenue model
Clinivantage’s primary revenue model is to charge a monthly subscription fee. The B2C platform provides freemium services, while some features charge a on monthly subscription fee.
“Clinivantage technology is used to streamline processes and address the traditional challenges. Some of the technologies that would shape the future of healthcare industry in India may be PaaS, IoA (Internet of applications), instant device IoT integration, Artificial Intelligence (AI), Machine Learning (ML), and telemedicine,” says Nilesh.
In the second year of operations, the team claims to have garnered a revenue of Rs 1.5 crore. Nilesh says the company has closed deals with 34 hospitals so far.
Sector and future plans
There are several startups in the healthcare doctor-connect space. These include Sequoia-backed Practo and 1mg. In July last year, 1mg had acquired Medd, a diagnostics and imaging tests marketplace, in an undisclosed deal.
And in April the same year, Practo also rebranded itself as a complete healthcare platform that focused on appointments, consultations, health records, and insurance. Practo also ventured into the online pharmacy space late last year.
The total healthcare industry size is expected to touch $280 billion by 2020. Nilesh believes the healthcare industry is getting patient-centric. India's software HCIT (healthcare information technology) is expected to be valued at $1.45 billion in 2018, with CAGR of 30 percent year-on-year.
Clinivantage currently is looking to raise $5 million in funding, which it intends to use for scale and expansion across the globe. It will use the amount raised in product development, deployment of resources for implementation, and for administration. In the long term future, Clinivantage is looking at a 24-hour connect between the patient and those monitoring them.
