This startup brings you a one-stop solution for preventive health and well-being
The Indian healthcare market is worth US$ 100 billion and is expected to grow to US$ 280 billion by 2020 at a CAGR of 22.9 per cent as per the IBEF data. The rise of technological ways in the delivery of healthcare is further adding to growth of this sector with HealthTech emerging as a new sector altogether. Startups are eyeing this synergy of health and technology as an opportunity and are coming up with newer ways of planning and delivering good health.
One such startup is Plan My Health, a digital wellness initiative of the JWL group. Plan My Health is based on planning and delivering wellness & healthcare services through technology. Wellness India spoke to Akshay Shah, the founder CE and MD of Plan My Health to know more about his venture and the road to growth.
Plan My Health is a compressive and one stop solution tech platform for students, children, employees etc for preventive health and fitness improvement program in India, ideated by Shah. “Curative services were like post-mortems. So, I wanted to bring in prevention, wellness and well informed health concepts to institutions like schools and corporate,” Shah said.
Elaborating the business DNA of Plan My Health, Shah said, “We do 360 degree health checks along with medical consultations like general, optical, dental, psychological, diet, physical along with a few diagnostics based on age band and gender. We put all these into an EMR(Electronic Medical Record ) to create a health analytics for disease and issue cluster. Then we create Annual Health Awareness Programs & Wellness Sessions based on issues identified by health Analytics.”
Current presence and expansion plans
Shah says that wellness and prevention for corporates, schools and societies was always the core for his venture. He started the venture with a basic angel funding of Rs 3 crore. His 3-year-old venture now has a strong market presence in Mumbai, Pune and Surat.
Telling us about his expansion plans, Shah said, “We are scaling both horizontally and vertically. While we are looking at spreading out to 10 more cities, we are also going across newer categories like more corporate sectors and real estate. Our model is a pan-India one including rural India by CSR & PP Model. In fact, we are also looking at growing globally.”
Reaching the right areas, facing challenges
Plan My Health’s target customer, as Shah puts it, “is someone who wants to get healthier and wants to prevent themselves from future health risks. We look at these sectors - corporates, schools, societies and insurance companies, and communities.”
The average ticket price of Plan My Health is INR 199 to INR 4999. Talking about the biggest challenge in the process of moving up the growth ladder, Shah said, “There have been regional language challenges, lack of quality health professionals, training and negotiating best rates with service providers.”
Shah says that their app, health scoring algorithms, onsite wellness and well informed members are things that make them stand out in the competition. He concludes saying, “We want to create a bigger reach and wider network for our members.”