What made you certain that your business model can succeed in a country like India, where we believe in word-of-mouth while opting for a health care service provider?
Actually, we're not really trying to replace word-of-mouth but in fact we augment it. If you look at word-of-mouth today w.r.t doctors, it is highly unlikely that more than one or two of your friends/family members can tell you something concrete about a doctor. In contrast, you can get 10 friends to tell you about which movie to watch. We looked at this and realised it was completely broken. So we decided to fix that and built Practo Search-a product that helps millions of consumers today in deciding on which healthcare professionals to visit.
With Practo search, we provide significantly more details and information about a healthcare practitioner including years of experience, degrees, affiliations, specialties, etcetera. Along with this, we've also built a great system called Practo Feedback, which enables verified patients to share their experience for other patients to read and decide.
Having said that, Practo Search is completely free for consumers and doctors-we want to list all the healthcare professionals in the world and make them easily available to consumers.
With respect to monetization, we have Practo Ray-the cloud based software for doctors and clinics that helps them automate and digitize their practice. We're the pioneers in building a feet-on-street sales model for a SaaS product and doctors love this because they get real engagement and can see how the product functions in their own environment before buying it.
How is Practo providing easy medical access for people in India?
Our mission is to help mankind live healthier, and longer lives. We believe this is possible if only we improve the healthcare experience for consumers by simplifying it and centering the industry around them.
Guided by our 'patient first' philosophy, we've taken the unique route of listing all doctors. The entire process of booking and accepting appointments is completely free, because this ensures that patients have the widest possible choice. We've also realised that information needs to be accurate so we don't use third-party data-our team literally goes road by road and city by city to find and list all the healthcare professionals.
Our goal of course is to list all healthcare professionals and not just doctors, and today, we've a list of 200,000 healthcare professionals, 10,000 hospitals, and over 5,000 diagnostic centers, making us the world's largest appointment booking platform.
How is the acquisition of Qikwell working for Practo? What are your acquisition plans further?
We believe acquisitions are a great way to add new and innovative technology to our offerings. We're constantly in talks with many great entrepreneurs and look forward to collaborating with them.
Sign up for CIO Asia eNewsletters.