Practo is on a mission to make quality healthcare affordable and accessible for over a billion+ Indians. We believe in empowering our users with the most accurate, comprehensive, and curated information and care, enabling them to make better healthcare decisions. Practo is an Indian startup where it provides a platform for online doctor consultation. The application enables users to connect with the best doctors at affordable fees. Practo is also a SaaS company where it provides software to hospitals. From the integration with the software, all the tasks and events can be digitalized.
Now, hospitals are leveraging technology to have a better connection with patients. Maintain the patient’s records in digital form. Now doctors can share any patient’s health report with a few clicks. So, technology plays a vital role to bring doctors’ and patient connections closer. Practo made all the efforts to bring digitalization into the hospitality industry. Even Practo software helps doctors to manage their consultations online.
Practo was started in 2008 to provide or install software for hospitals. Now, the startup is serving more than 20+ countries. In India major cities like Bengaluru, Mumbai, Pune, Delhi, Hyderabad, Ahmedabad, and many more Practo services are available.
Entrepreneurs do not have a specific designation. To become an entrepreneur it is not necessary to do some specific course. But one should have the vision and hope to build a better future for others. Startups always strive to bring new technology or services to make people’s lives better. Some entrepreneurs have the vision to follow. Even they will be building business ideas on their passion as well. Incidental entrepreneurs are those entrepreneurs who will instigate or be inspired by specific events. Those events have made a deep impact on their life. So, those will devote their heart and soul to building startups to solve specific problems.
Even Practo startup has started on one such incident. Shashank ND is a Btech graduate from the National Institute of Technology in Karnataka. Once Shashank ND’s father was suffering from knee pain. So, Shashank and his father consulted the doctors. Finally, his father undergoes knee replacement surgery. But also his father is so suffering from knee pain severely. So, Shashank ND was in search of the best doctors. But he could not find any platform where he find the right one. As a result, he was frustrated and helpless. Finally, Shashak ND found the doctor and he told me to send the report’s photographs. But the doctor was unable to view the report as it did not appear clear. The format was not supported to get the best clarity. So, the doctors once again told me to send the report via mail. Then Shashank consulted the doctors and was told to bring the hard copy. As doctors had only the option to view the reports from his software. There were no other options like printing or sharing in that software. Then Shashank ND understood the poor quality of the software.
Targeting these doctors or clinics would be a challenging task but they would have a large enough market even if it does not focus on the members of the old-school healthcare system.
Practo has two distinct products, with their revenue models:
Healthcare Provider/ Doctor facing practice management software, sold as a subscription-based SaaS product.
Practo Ray is offered at two price points, Rs. 999 and Rs. 1999 per month. The premium plan also includes a cloud telephony-based IVR system for doctors.
Practo – Funding And Investors
Practo funding has raised a total amount of $228.2 Million over seven rounds. But now the company is looking to raise over Rs 60 crore in debt funding from an investor, Trifecta Venture Debt Fund. The funding is said to be in six tranches, while according to the MCA filings the health tech platform has already received the first tranche amounting to Rs 15 crore in May 2021. The last Practo funding was in August 2020, when it raised $32 million in a funding round led by A1A Company.
The company has got 10,000+ doctors and 30k monthly booked appointments presently in their system. They have got over 10 million electronic patient records which are doubling every passing year. They have got around 7.5 million unique patients and over 7 million appointments take place every year. In terms of revenue, this company has been growing at 50 to 100% QoQ.
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