Posted by Blog Admin
On May 3, 2017
Doctor Insta: Doctor Insta is India’s first “Video-Medicine” platform that provides the best-in- class Medical Consultation Instantly: Anytime. Anywhere.
We offer the medical consultations using our Omni-channel approach thru Web, Android & iOS apps Via Phone, Video or Chat. Doctor Insta is already providing its services through B2C (Retail) as well B2B2C (Corporate) Channel to millions of users across India.
Doctor Insta endeavors to bridge the gap between Doctors and Patients through a digital platform and empower people to lead healthy lifestyles, enhance productivity, reduce infection rate and increase life expectancy.
One of the most fundamental opportunities in our society today is the easy access to basic healthcare services through technology. The extremely low ratio of Doctors to Patients in India and other developing countries is one glaring gap and therefore the healthcare system needs alternatives to the conventional brick and mortar model. Doctor Insta strives to bridge this gap between doctors and patients through a digital channel of primary healthcare delivery anytime, anywhere.
Mr. Amit Munjal, (Linkedin Profile) Founder and CEO of Doctor Insta:
● Ex-CFO and Head of Investments/Divestments at $120 Billion Division of CitiBank, USA
● Ex-Senior Vice President of Growth & Investment Strategy at Bank of America-Merrill Lynch, USA (managed a $100 Billion Investment Fund)
● Prior stints in Corporate Strategy Practice of Deloitte Consulting (Clients: Yahoo, Google, Expedia.com etc.) and with Lehman Brothers in Europe and Asia
● Regular Speaker on NDTV, CNBC, ETNow, Microsoft Summit and is covered extensively by National Dailies
● MBA from Indiana University-Bloomington, USA; Advanced Management from Harvard Business School and CFA Charterholder from CFA Institute, USA
Doctor Insta provides health consultations online through Phone, Video and Chat. A consultation can be scheduled in four simple steps and in 3 minutes or less. Patients download the app (iOS or Android) and after initial registration can book an instant appointment with the Doctor. They have the option to schedule at the time convenient to them with the doctor of preferred specialization. The patient consults with the doctor and then receives an e-prescription and additional notes. A follow up consultation is also provided free of cost within 7 days after the initial appointment has been booked.
Telemedicine is an established concept in USA. The core team studied the model for three years before moving to India. We hired some of the best and the brightest technology people to develop the App and the website for Doctor Insta. Our HD video calling platform works seamlessly on 3G/4G. With Video, the doctor can look, listen and engage with the patient to diagnose their issues and provide an effective treatment plan.
As the saying goes- necessity is the mother of invention. The idea for Doctor Insta came to founder and CEO, Mr. Amit Munjal on a trip to Hawaii. He fell ill and there was no immediate medical help nearby. A video consult solved his problem and saved his time. He felt that a change is needed in India as well to bring ‘On-Demand’ preventive and curative healthcare to everyone’s doorstep. He moved to India in January 2015 and started working on this idea. He invested his own savings in building the prototype. It took few months to create the product and conduct the alpha and beta testing before formally launching services in December 2015.
One major roadblock is the adoption and engagement of telemedicine in India. Although a) PM Modi and the Indian government strongly support telemedicine and b) Independent research studies show us that 70% of the OPD cases do not require any in-person visit, yet people in India may feel the need of going to OPD. Slowly and steadily people are accepting this fact and soon Telemedicine will disrupt the status quo of Indian healthcare system.
The only way to overcome these challenges is to educate people about the benefits of telemedicine and slowly but steadily people will understand and adopt the services.
Doctor Insta can bring a revolution in the healthcare sector. Doctor Insta application offers a plethora of services across key healthcare services including Psychology, General Medicine, Diet & Nutrition and Paediatric. It delivers a platform to patients for engaging with a doctor requiring medical help 24*7 and also acts as a database to keep personalized e-records with uploaded notes and prescription pertaining to each consultation. The company takes the convenience to another level for its users. There are over a million doctors in India and each on an average do around 50 consultations a day. With this app/platform, more than 70 per cent of these consults can be done. So, over a three-year period, we intend to capture 2 per cent of this market; this translates into one million consults/day on Doctor Insta platform in India alone.
In 2016, the company held a $2.5 Million Pre Series A round of funding from Round Glass Partners, Seattle, WA (USA) and BrahmaX Ventures, Los Angeles, CA (USA). Earlier funding round included a seed funding of $0.5 million in 2015 from BrahmaX Ventures and Angel Investors in US & India. The new funds are being utilized for promotions, marketing and product development.
The healthcare market is still nascent and the opportunities are ample. The total addressable market in India is around $25 Billion. There is equally big market in other developing countries and smaller developed nations. India has over 1 Million Doctors and each of them does ~50 Consults a day. Our Plan is to take 2%-3% of this market.
Doctor Insta has brought in two new innovations which are a first for India. One of them is called Health ATM and it, essentially, comprises a mini laboratory in itself. These ATMs are big kiosks that are placed in malls or corporate parks. The customer can walk in and get a basic check-up done, such as getting one's blood pressure, sugar levels, heart rate and more checked.The start-up is also catering to rural areas as well, where they have appointed doctors or partners who have the tablets with the application installed. Patients are able to visit the doctors and get a basic consultation. In the villages, the consultation fee has been fixed at Rs.100-150. Our aim is to save close to 10,000 man hours by providing 2,500 consultations every day, by the end of the year.
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