LiveHealth : Bridging The Gap Between The Healthcare Providers And The Consumers

LiveHealth is a healthcare IT company founded on 21st October 2013 by Abhimanyu Bhosale and Mukund Malani.

The company thrives to deliver the best connected experience through their products by bringing the eco-system experience in healthcare, where health providers and customers are connected on a single platform.

The organisation offers a next generation cloud based and mobile ready solution for the Healthcare Providers which helps them take control of their practices & manage it better with insights & analytics.

With revolutionizing healthcare delivery the company also help providers manage their day to day processes better. This makes them better at reducing delivery time drastically.

Chitrakshi Suneja Interacts With Abhimanyu Bhosale, Founder, LiveHealth And Spoke To Him

Description

Disconnected experience is one of the biggest problems in healthcare industry & the existing contemporary IT solutions make it even more evident. LiveHealth aims to solve this by building an ecosystem of applications specially designed for each stakeholder - doctors, providers & patients.

Currently, the healthcare delivery system is fragmented and hence the end user experience is completely broken. There are just handful of healthcare companies who are working on the delivery side of healthcare. We are trying to bridge the gap between the healthcare providers and the consumers by connecting them and allowing them to communicate in the best possible way so they both benefit from it.

People do not have their medical records managed electronically and even if they are, they do not have easy access to them. We enable healthcare providers to digitize the medical records of their patients and deliver them right on our platform. Patients can manage their medical records on our platform and track their health parameters via a mobile app on daily basis.

We want to help health providers, patients, health researchers, government bodies, etc. analyze the vast amount of medical data generated on a daily basis at the provider’s end which otherwise is only provided in the form of paper-based reports and PDFs and is not at all useful.

Idea Generation

During my first visit to a hospital in Pune for my grandfather’s checkup, a doctor handed over a file of medical records with test results. After around three-four regular visits, it was difficult to keep track of medical reports and files. So, when I finished my bachelor’s degree in computer engineering and was working with electronic medical records (EMR) company in Pune as an intern, I began thinking.

I realized that there was no solution available to manage records safely and smartly. A business idea struck me. Me and my college mate Mukund Malani decided to start a platform which would not only help healthcare providers manage records smartly and securely but also send it to patients on a app to reduce time and hassle of communication.

So in November 2013, we both started a company called LiveHealth.

Special Key Features

Seamless Overall Experience : The experience which we deliver not only to the consumers but also to the diagnostic centers & doctors is unparalleled. The consumer can book a home collection & pay online using the mobile app and gets the reports delivered on the phone with every process in between at the centre completely automated which guarantees accuracy and reliability. On the other hand, the doctors can work across multiple centers through a single app getting patient reports on a click. Similarly the diagnostic centers can work across multiple locations & not worry about huge technology overheads & implementations.

Mobile : We are the only company out there who has mobile apps on both iOS and Android for patients, Doctors, Diagnostics & Healthcare workers. Patients can store and upload all their medical records, book appointments and pay online using multiple payment gateways. Doctors can view patient history and approve reports remotely. All the apps work even on a 2G network so there is no requirement to have fast internet connection.

Data & Insights : At a monthly volume of 1.5 Million records we generate & work with large amounts of information. We are currently using that information to generate insights for doctors for performance trends and general health trends of the centre. We are working with doctors to health patients manage & monitor their health with actionable data.

Payments : Payments is a huge part of the overall convenience. 45% of the payments done by healthcare organizations are partially paid at first visit. We enable payment on the fly so that people can pay when the reports are ready and view the report on the app.

Support : The healthcare stakeholders are not very technologically sound. So understanding & migrating to newer technology is difficult. Our support team & methodologies help providers get started with our solutions much faster. We have a on-boarding TAT of 15 days. So we migrate the entire systems & processes of a healthcare provider / diagnostics to our solutions in less than 15 days.

Affordable : Our solution is the most affordable in our space. The pricing is per month basis so the customer doesn’t have to pay a lump sum amount along with an Annual Maintenance Charge (AMC).

Challenges Faced

The biggest challenge we have faced, is to explain to the healthcare providers why they should use technology to manage the medical records and to deliver the best experience to their patients through collaboration and communication. Like any other industry, healthcare providers have been trying to resist the tech change, but it’s a matter of time.

Funding Details

We have raised our first round of angel funding of USD 3,00,000, in October 2015, from healthcare veterans like Dr. Rajaram Samant, CEO of Akumentis Healthcare, and Dr. Pramod Dhembare, founder and MD, Fidelity Diagnostics.

With this funding we developed and launched mobile apps for patients to enter the B2C space and for our geographic expansions.

Through our sales offices in Pune, Mumbai, Bangalore and Vadodara, we have on-boarded diagnostic centres in 28 cities across India like Delhi, Mumbai, Ahmedabad, Pune, Nagpur, Aurangabad, Vadodara, Rajkot, Nashik, Nanded, Kolhapur, Hubli, Davangere and more. We also have established our presence in Dubai, Malaysia and Sudan and planning to expand in Singapore, Thailand, Jakarta in South East Asia and Middle East region.

We have emerged as the fastest growing management solution for the diagnostic centers and labs in past six months. We have generated more than 10 million medical records so far. We generate 60-70 reports per minute and we are adding 4-5 diagnostic centers a week thereby increasing patients and medical records.

We are planning to enter healthcare space by next year. We have initiated plan to raise funds to scale up our presence in 10 more cities in India by 2017. We also have plans to enhance our base in South East Asia and Middle East region by next year. Apart from expansion, we will also take up co-branding with diagnostic centers making sure that quality of care is universalized across the region and pricing is also universal across the region. We are coming up with a model to maximize the standardization of quality care.

Monetization Details

We want to have every stakeholder in the healthcare ecosystem using our solution so that the overall experience that the end user gets is seamless. Currently we provide our software as a service (SaaS) to the diagnostic centers and labs at an affordable subscription range between Rs. 999 and Rs. 9,999 per month, depending on the complexity of the offering and the number of centers they own. We charge the diagnostic centers and labs for using our software. We also charge them for customization of the modules as per their requirements. We also provide health care providers with a personal page for themselves where they can publish and sell health packages online and the consumers can book and purchase these packages using our multiple payment gateways. We charge a very small percentage of the package amount to the health providers for the same. Our monthly revenue ranges from Rs. 8-10 lakh.

Traction Details

Currently LiveHealth has powered 270+ Diagnostic Centres and their 35,000+ Doctors to cater 10 million+ medical records to 4 lakh+ patients.

Marketing Plans

We connect to and network, participate/ sponsor national and international conferences, exhibitions for associations.

We believe in organic growth. Our marketing team visits every Laboratories, Diagnostics & MRI & CT Centers in a city and does thorough research of the market and internal connections between the customers in the city. We understand their requirements and propose solutions where we can accommodate their operational workflow into our system.

We build strong relations with our existing customers through consistent healthy communications and support. After a few years on service, we propose various ways in which they can improve their efficiency and quality of delivery understanding from the data in our solution. We work in different ways being a technology partner for healthcare providers in their journey. We do a lot of co-marketing activities with them - like community health camps, corporate health checkup camps to reach out to and acquire potential patients /customers on our platform through app download and assure maximum business . This boosts our sales on other side.

Market Size & Opportunity

There are more than a one hundred thousand diagnostic centers and labs across India and that is the main market we are looking forward to tap. We are more focused on small and the middle size centers. We initiate our sales with the biggest centers in a city and once they are on-board the smaller ones follow.