Practo’s first product was software that helps doctors and clinics manage their data better. It also provides them visibility online. This was their feet on the street strategy.
They then started to connect doctors, hospitals and diagnostic labs. This gave them some revenue. They also charge doctors for premium listing on their platform.
Doctors on Practo
Practo has brought together the entire healthcare ecosystem on a single technology-enabled platform. This platform allows users to do various tasks like finding doctors, booking appointments with them, consulting online with a doctor, getting medicines delivered, doing lab tests, and much more.
The company has over 100,000 verified doctors on its platform. It also provides an option to find doctors by name, specialization, location, availability and ratings and reviews. Its platform is accessible to patients across the country and abroad, making it a convenient way for people to connect with healthcare providers.
One of the ways Practo makes revenue is by charging for its services to doctors, clinics and hospitals. It also makes money by displaying ads on its website and mobile app. The company’s telemedicine business grew by over 1000% during the Covid-19 pandemic.
As of now, Practo has more than 20 million registered users worldwide and over 3 million annual consultations. Its services are available on Android and iOS platforms. The company also offers a software development kit for developers to integrate the platform into their apps. Its team consists of engineers, designers and product managers who work together to ensure the best experience for users. The company’s vision is to transform healthcare for billions of people. Its goal is to offer a seamless experience by linking all aspects of the healthcare industry on one platform.
Appointments on Practo
Practo’s platform is designed to connect doctors and patients. It offers a wide range of services including online consultations, medicine delivery and diagnostic test booking. The company also helps people find the best doctors for their needs. It has a comprehensive list of doctors and offers various payment options.
The app also provides a variety of features for doctors, such as an appointment management system that makes it easy for clinics to manage daily appointments and mark availability to see patients. Additionally, the app lets doctors share their information with patients through text, images and video calls. It also helps doctors connect with new patients and improve user engagement.
Besides, patients can get their medicines delivered to them in a few hours after a consultation with a doctor. This service is available in many cities. The app also allows patients to upload their medical history so that doctors can easily see it and make a better diagnosis.
The company is growing rapidly, and it is making a significant amount of revenue. The company is expanding its offerings to include more countries and types of services. In addition, it is investing heavily in technology to make its products better and faster. The company also plans to make its product more user-friendly and mobile-friendly. Moreover, it is working on enhancing its telemedicine feature to increase its presence in India.
Consultations on Practo
Practo’s consulting platform allows users to connect with doctors via a video call. The company also offers a variety of medicines that can be delivered directly to your door. It also publishes regular health articles, which help patients identify their problems and make better decisions about their health.
Lal and his team have been able to scale the business by making it easier for people to find doctors and make appointments online. They have also expanded into other markets, including Malaysia and Brazil. The company is still experimenting with its products and is looking for ways to improve them. It is also working on a data platform that will allow doctors to anonymously audit any consultation.
The platform also offers a range of other services, including finding hospitals and diagnostic labs. It is a great way to navigate the complex healthcare system without having to travel. The app also provides doctors with access to patient records, which helps them improve their care.
Despite the challenges of disrupting the healthcare industry, Practo is well on its way to achieving its goals. It has a clear strategy and the infrastructure to succeed. However, it is still facing significant execution risks. The company is expanding too quickly and risks overshooting its financial projections. It also faces competition from other players in its market.
Medicines on Practo
Practo has built an integrated healthcare technology platform with healthcare software systems, search engine capabilities, electronic medical records, and a preventive healthcare marketplace. This enables doctors and patients to find, ask, and consult about healthcare online in a few easy steps. The company has raised over $125 million from marquee investors, including Sequoia and Tencent.
The underlying technology of Practo’s healthcare platform is based on a series of questions that help determine a patient’s symptoms and then matches them with a doctor who can answer them. The company also offers other services, such as ordering medicine, registering with hospitals and clinics, and scheduling appointments.
As the market for healthcare technology continues to grow, Practo is positioned as one of the top-performing companies in this space. The company’s revenue model is based on a variety of different sources, including commissions from doctors and pharmacies for bookings and consultations. It also earns revenue from ad spaces and selling medicines to chemists and drug stores.
In addition to generating revenue through these channels, Practo also offers its healthcare software products to hospitals and clinics. The software helps them manage appointments, digital payments, and other financial aspects of the hospital. This revenue stream is a key driver of the company’s growth. It also gives doctors the opportunity to increase their reach and increase patient volume by listing themselves on Practo.