How Rupeetalk founder started up in the healthtech sector with his e-diagnostics startup
There are multiple diagnostics centres in the nook and corner of every city, and healthcare services at the doorstep are becoming increasingly popular. According to Technavio Plus, the home healthcare services market size in India will grow by $32.6 billion during 2018-22.
Companies in this sector charge differently for each test, at different places. So how does one decide where to go? The dilemma remains whether we should avail services of known brands or try a new centre?
Gurugram-based KlinicApp has done away with varied pricing by introducing the 'One Nation, One Price' concept. This means if you request for a service in Kochi or in Kolkata, the cost of the service remains the same.
Founded by Satkam Divya, Parvendra Singh, Shwetabh Walter, Sandeep Saraf, and Amal Sardar in November 2015, KlinicApp is an e-diagnostics startup. Irrespective of which city one books services from, the startup charges its users the same for tests.
Healthcare services at your doorstep
KlinicApp provides end-to-end standardised diagnostic tests at home. Its tech-enabled team collects samples and the tests are conducted in NABL (National Accreditation Board for Testing and Calibration Laboratories) certified partner labs.
One can book tests or a healthcare package either by visiting the website or the app (available on both Android and iOS), or simply by calling the helpline number.
"Customers can choose when and where they can avail the service," explains Satkam.
Users can either pay online while booking the tests, or during the time of sample collection. Basic tests like Platelet count is priced at Rs 99, while packages such as Advance Vitamin Profile costs Rs 1,599.
"Our trained phlebotomists visit the patient's house at a time convenient to her. The sample is then sent to one of our certified partner labs," Satkam adds.
KlinicApp has partnered with labs that are NABL, ISO, and CAP-certified. Two of its lab partners also include GD Lab and Diagno Lab.
KlinicApp has its own fleet of on-ground technicians. It trains phlebotomists in-house.
"Any employee who is hired from outside the healthcare industry has to undergo a mandatory 15 days of training," Satkam says.
Most of the test reports are usually available within 12 to 24 hours, depending on their complexity.
Founder Satkam Divya talks about their startup:
How it all started?
"My sister and father-in law underwent kidney transplants within a span of two years and diagnostic tests had become routine for us. My experience of these tests were not up to my expectations when it came to hygiene, safety, and reliability," says Satkam, who is also the Founder of Rupeetalk.
An alumnus of IIM Lucknow, Satkam (42) is a seasoned entrepreneur. As a director in PolicyBazaar, he was heading the Mobile Commerce and Marketing vertical.
"One of the learnings from my last venture was that whatever is core to the business, has to be core to the company. The idea was to manage all the core job responsibilities in-house. I looked for people who have worked with me in the past and finalised the founding team with people with the relevant experience, pedigree and most importantly, the passion and a cause to bring disruption in the diagnostic industry," says Satkam.
Thus, the co-founding team consists of five members, each with more than 10 years of experience in their respective domains, and have previously worked with Satkam.
Co-founder Parvendra (37) has worked with AskmeBazaar, NetAmbit and Gcube Software before joining Satkam's team. Shwetabh (33), alumnus of BITS Pilani, has been into product management for more than nine years. He has previously worked with NetAmbit, Rupeetalk,and Dr Reddy's.
Sandeep (36) holds a Masters Degree in Management from Wales University and has previously worked with United Healthcare, managing its India operations.
Amal (37) has spent more than 10 years in app development. Also a former-PolicyBazaar employee, Amal holds a Masters degree in Computer Science from National Institute of Technology.
The total team size of KlinicApp is 43.
KlinicApp earns its revenue directly from the end customer (patients). The startup has so far raised Rs 1.75 crore through multiple angel rounds. It has also raised an undisclosed institutional round recently.
"We were always very clear about not burning cash while building the business," says Satkam.
KlinicApp claims to have served more than 1.1 lakh patients till now, and has conducted more than 7.3 million tests, worth Rs 14 crore. The startup generated a revenue of Rs 3.76 crore in FY 2018-19.
"Although the company is operational throughout India, we have a strong presence in West and South India," says Satkam.
According to a RedSeer Report published in January 2018, the Indian diagnostic market was growing at nearly 15 to 20 percent and was estimated to be worth Rs 40,000 crore.
What makes KlinicApp stand out is its technology approach. It replaces the intermediaries, making the value chain more efficient and more affordable to the end user.
Moreover, 'By taking the brand approach, KlinicApp is able to solve the problem of pricing, products and service standards," says Satkam.
KlinicApp has aggressive growth plans for the next five years.
"We plan to grow by 200 percent in the next couple of years and then look to stablise it to about 100 percent year-on-year growth in the following years," says Satkam.
Currently, KlinicApp's primary focus is strengthening its logistics. "We are planning to add around 3,000 technicians and phlebotomists in the next two years in 12 cities," he adds.
KlinicApp is also developing AI-based technology to predicatively suggest how one is susceptible to develop lifestyle disorders.