Why are Doctor-Patient platforms so successful in India?
The need for medical attention has over the years increased with an increase in population. The ever-increasing need for a medical professional has necessitated the introduction of advanced methods of health care delivery with consideration to speeding, accuracy, and promptness. Consequently, several medium or platforms have been developed to this effect. Primarily designed and developed for the medical field, the doctor-patient platforms were aimed at strengthening and advancing the relationship between doctors and patients.
The doctor-patient platforms serve as a medium of interaction between qualified professional doctors and patients. It is a platform where patients can share their medical records and health histories with professional doctors.
The platforms bring the doctors and patients together through the use of internet connectivity thus, making it easier for patients to contact any nearby doctor, seek medical advice and fix an appointment with a doctor under a very comfortable atmosphere.
Globally, there are several existing doctors-patients platforms that have contributed immensely to the efficiency of healthcare delivery. In India, there are hundreds of such platforms that have improved the quality of healthcare delivery throughout the entire country. Some of these platforms include Practo, Zoylo, Lybrate, Refadoc, Portea Medical, Docengage, Livehealth, Ozone Forum, Just Doc, Ask Apollo, Healnt and Medimetry amongst numerous others, that creates the link and connection between doctors and patients for prompt and easy health care services.
These doctors-patients platforms in India have overtime impacted the health delivery status of the entire Indian population positively through the effective and efficient provision of a varying degree of professional medical services which includes telemedicine, patient empowerment programs, patient engagement initiatives, consultation services and population health management.
The quest for improved service delivery by the various startups in the healthcare field through the doctor-patient platforms has engendered huge investment into the sector. For instance, Practo, one of the leading medical service providers in India has invested a huge sum of $124 million to create a befitting doctor-patient platform and enhance its service delivery to the general public. As a result, Practo now has over 200,000 professional doctors on its doctor-patient platform that handles over 10 million searches per month.
Also, Lybrate, another popular startup in the domain have an investment base of about $11.4 million for the advancement of its doctor-patient platform. Consequently, the health care provider now has over 80,000 vetted doctors on its platform who attends to patients’ needs on a daily basis.
With the integration of technology into the healthcare system in India, the healthcare market which is currently worth over $100 million is projected to grow at a CAGR of 23% to over $280 by the year 2020.
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Reasons behind the success of this business model
There are some key reasons behind the huge successes recorded by the doctors-patients platforms in India. While these could be seen as basic principles for general business growth and success, the application and thriving of these principles in the Indian business environment make it noteworthy. The determination to create a world-class medical huge is one common drive of all the healthcare startups in India that have really solidified the basis for a successful business growth in the healthcare sector. Another major secret behind the success of the doctors-patients business model in India is the huge investment by the numerous startups in the domain.
It is noteworthy to state that these platforms have grown to become successful; despite not owning a medical facility or physical structure of their own. This success is thus, attributed to the promptness and efficiency in connectivity created by these platforms in linking patients with the appropriate doctor
The doctor-patient platforms as a business model in India have introduced series of attractive services and initiatives that have served as a cause of attraction to patients. Some of these services include the provision of 24 hours reliable medical consultation services, telemedicine, patient engagement programs and effective payment mechanisms. Additionally, some of these startups have introduced some forms of monetary rewards for patients who refer other patients to use their platforms. These aforementioned services make the doctor-patient platform business model an attractive service provider to consumers.
The concept of the doctor-patient platforms has drastically reduced the cost of healthcare delivery in India. For instance, Portea which is one of the leading startups in doctor-patient platforms provides chemotherapy for 30 to 40 percent less than what hospitals charge. It was estimated that the cost of drugs, as well as admission, doctor, nursing and ancillary charges, sums up to Rs 25,000 in private hospitals as compared to Rs 16,000 being charged through the doctor-patient platforms in India.
The doctor-patient platform business model has been estimated to make an annual revenue of about $2.3 billion. With a growth rate of 8% per annum, the yearly revenue is projected that by the year 2020, the total revenue of all doctor-patient platforms per annum will rise to $280 billion.
Top 10 Doctor-Patient Platforms in India
There are numerous doctor-patient platforms in India as previously stated. Some of these platforms are highly rated than others based on the quality and efficiency of services they provide to the general public. Below are the ten most rated doctor-patient platforms in India.
|Practo||Provides 24 hours online consultation services with about 100,000 verified doctors.|
|Portea Medical||Provides doctors consultation services, elderly care and home care.|
|DocEngage||Provides home care and manages patients record efficiently.|
|Livehealth||Provides affordable 24 hours online health care services.|
|Zoylo||All day medical consultation services.|
|Ozone forum||Creating awareness among patients and doctors as well as ensuring common procedural practices.|
|Lybrate||Provides a 24 hours access to health care, cost-effective with over 100,000 doctors.|
|Justdoc||24 hours consultation services with prompt response to patient’s questions.|
|Medimetry||Provides mobile doctor consultation services.|
|Refadoc||Provides 24-hour online emergency services.|
The doctor-patient platform in India has over the years proven to be a very successful business model due to the determination of all relevant stakeholders to meet the healthcare needs of the populace as well as the steady inflow of huge investments.
The effectiveness and efficiency of these platforms have really improved the quality of healthcare delivery in India with a projected potential for further significant improvement and contributions to the health sector.
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