Will invest $ 15 million over a period of three years in preventive healthcare
To make healthcare available to all, docprime.com, the latest healthcare venture of Policybazaar Group announced its expansion to 12 major states of India-Andhra Pradesh, Telangana, Karnataka, Tamil Nadu, Gujarat, Maharashtra, Punjab, Madhya Pradesh, West Bengal, Uttar Pradesh, Rajasthan and Chhatisgarh. With this, Docprime.com that already has a strong presence in Delhi and NCR will extend services to a total 34 cities of the country.
Docprime.com, a platform that provides free online consultation and allows patients to book appointments with over 20,000 doctors and 5,000 diagnostic labs at discounted rates across the country will also invest $ 15 million over a period of three years in preventive healthcare.
According to Ashish Gupta, CEO, Docprime.com, “With the ever-increasing burden of lifestyle diseases and other illnesses in India, the only way forward to curb out-of-pocket healthcare expenses for the average Indian is through preventive healthcare. Our latest investment of $ 15 million, will be utilised to encourage people to look after their health proactively with regular health monitoring and preventive actions. For this, the company also plans to expand to 100 cities with 1,00,000 doctors and 20,000 labs in 2019.”
He further added, “Docprime.com will spend 40 per cent of the money on educating people, spreading awareness on preventive healthcare and servicing the customers with affordable solutions. It will spend the remaining amount on expanding the business reach and extending the team of specialist doctors for in-house free consultations.”
A highlight feature of the company is its cashless transactions. This means that the customers pay directly at the time of booking an appointment and no extra charge is levied post the doctor’s consultation. It also allows flexibility in rescheduling it and providing 100 per cent refund in case of cancellation. The company is committed to providing best-in-class service to its customers and hence, offers a discount of up to 60 per cent on doctor and lab bookings and up to 80 per cent on health check packages. This is a first and rare in the healthcare industry.
The company that was launched in August last year is the third venture of the Group which already owns insurtech player PolicyBazaar.com and lending marketplace, Paisabazaar.com. It received initial internal funding of $ 50 million from the parent company Etechaces Marketing and Consulting in September. The company also aims to expand B2C business to corporates which will potentially contribute 20-30 per cent to the company’s total revenues going forward.