KlinicApp, founded in Nov 2015, is a digital brand in the $6B pathology services space. The vision is to democratize access to pathology services for 1 billion+ Indians through a proprietary health-tech software platform to educate, acquire, service & retain the customers. BWDisrupt spoke to the core co-founding teaam: Satkam Divya, Parvendra Singh, Shwetabh Walter, Sandeep Saraf, and Amal Sardar.
Excerpts-Within just one and half years’ time, it has become one of the fastest growing and trend setting e-diagnostic company, bringing affordable lab tests with standardized services at doorstep of patients/ consumers. KlinicApp is solving the customers’ problem of discovering pathological services through its in-company developed technology platform (App & website) and standardization of home services by well-trained phlebotomists from its certified lab network PAN India.
How was it started?Satkam Divya, Cofounder and CEO of the company, has conceptualized this health-tech venture completely out of his personal experience because of the inconvenience/ friction he went through while availing healthcare services for a chronic disease happened to his close family member.
Later, Parvendra Singh, Shwetabh Walter, Sandeep Saraf, Amal Sardar joined him in this venture, and all of them together feel equally strong about technology making a difference in the end to end delivery of healthcare services. So together they have started this company to build a digital healthcare consumer-facing brand to serve Indian consumers at the place and time of their need.
Tell us about your Unique key feature/services?1. A Price Comparison between various labs available PAN India in 40 cities, 2. Standardized Services at home by well-trained phlebotomists ensured by KlinicApp, 3. Easy and all time availability of reports, even the historical ones on the App. 4. Round the clock service availability.
How is it different from existing ones?KlinicApp’s focus towards creating value for the ecosystem with the help of technology differentiates it from rest of the players in the Industry today. 1. Pricing comparison of same test across labs 2. Technology Integration with the labs and phlebotomists. 3. Real time status of the sample collection.
What is your current Funding status?Company is seed funded by Fire InfoTech.
What is your Monetization model?Commission earned from Labs on the total monetary worth of Blood test conducted through KlinicApp.
Please share some Traction details?Current Annualized Gross Booking Value – INR 20 Cr, 10X Growth in the Last 6 Months, Served more than 70K customers, Registered Customer Base on KlinicApp platform – 1.5 Lacs, Conducted more than 1 Mn tests so far.
What kind of Future plans do you have in mind ?1. Plan to do INR 50 Cr in the FY 17-18, 2. Continue to invest in technology for better customer experience and price value.
What are your Marketing plans?We will use mix of brand & Internet marketing to target the customer.
What kind of Challenges you faced intially? 1) Lack of technology being used at unorganized labs 2) Training healthcare professionals for blood sample collection 3) Making services available on odd hours.
Please tell us about your Market size & Opportunity? Healthcare market stands at USD 110 Bn, growing at 20% CAGR, expected to get to USD 280 Bn by 2020, key growth drivers of the industry are rising income and affordability, Growing elderly population, Medical Tourism, Insurance penetration, Lifestyle diseases and awareness about preventive healthcare.
Diagnostic services market stands at USD 6 Billion (2014-15) and growing @ 17% CAGR, key growth drivers here are increase in evidence based treatments, demand for lifestyle diseases related tests, increased awareness and focus on preventive disease and wellness. With over 1 lac labs in the country today, 75% of labs are unorganized and small, operate with very minimal use of technology, rest 25% is being run by branded players.
One of the problem/opportunity on the supply-side is that the capacity utilization is extremely low and hovers at around 25%, and for consumers it is difficult to discover and compare the blood test prices, do the tests at home and keep the reports at one place. KlinicApp aims to bridge this gap between Labs and consumers and bring value to both.
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Soumya is a young writer and journalist, with bachelors in Multimedia and Mass Communication. She is an alumini of the Asian College of Journalism, and finds politics and sustainability intriguing beats to work with.
