“Necessity Is The Mother Of All Inventions!” Someone has very rightly said that the most a hit companies are created out of personal pain factors. When we face a hassle and we aren't able to find a strategy to it, in desperation we Create One!
That is exactly what this younger boy – Shashank ND studying B. Tech in IT from the National Institute of Technology in Karnataka did! He went through a tough scenario in his existence wherein he felt nothing however helpless, and to make certain no person else has to undergo the sort of situation, he with the help of his buddy Abhinav Lal created the ultimate solution. He Created Practo!!!
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Shashank ND – A lesser regarded name amongst the commoners, is the founder and CEO of Practo Technologies! Personally a media shy Shashank does now not decide upon to reveal a great deal approximately himself, but is truely a true legend in the making!
As most of us have already seen their tv commercial; Bangalore primarily based – Practo Technologies is combos of merchandise which goal at both connecting the sufferers to the doctors and vice-e-versa or assisting the medical professionals control their clients / patients or paintings.
Out-beating all its competitors like HelpingDoc, DocSuggest, Qikwell Technologies and MediAngels.Com, Practo really is India’s exceptional and the most important Healthcare App.
Trivia: – Shashank Was Also Selected For The Indian National Olympiad In Informatics(Inoi) In 2005
What Is Practo?
Clearing the confusion first; Practo Technologies is a combination of products – Practo Ray & Practo.Com, which become based by Shashank ND & Abhinav Lal in 2008!
Practo Ray which turned into fashioned first, technically speaking; is a web clinical exercise control software made for and used handiest via docs and different scientific personnel’s simplest.
Practo Ray offers numerous capabilities for the gain of the doctors and others including – appointment scheduler, digital clinical document services, prescriptions, billing capabilities, IVR telephony and other healthcare control services.
This SaaS (software as a carrier) device can best use this product after purchasing the subscription of this software. Basically, the number one cause for its formation is to improve the clinical practice management for docs or different clinical experts.
Some of its Features and its Plans consist of:
1. RAY STARTER (Rs. 999/month)
- Calendar and Appointment Scheduling
- Patient Database Management
- Electronic Medical Records
- Easy and Quick Billing
- Automated SMS to Patients and Staff
- Custom Printouts
- Reports and Analytics
2. RAY PRO (Rs. 1999/month)
- All the features to be had in Ray Starter
- Advanced Reports and Analytics
- Product Retail
- Inventory Management
- Practo Access Zones
Now on the opposite stop; Practo Technologies in 2013 additionally launched their other patron-focused product known as Practo.Com.
Practo.Com is a portal that facilitates patients locate medical doctors in different cities and to make it more simpler, the portal ranks medical doctors on the basis of their very own studies (due diligence) and patient recommendations. The beauty of this portal is that, in case you are new to a place and don't have any clue approximately the docs there, then this could become honestly helpful.
Additionally, none of the events i.E. The docs or the patients should pay for the service. Practo earns its revenues from commercials on the site.
Now, lately it has come to light that there are numerous form of malpractices going on round when it comes to the healthcare enterprise in India. Hence to shield itself and its clients, Practo goes a further mile to ensure historical past verification of all the docs listed on its platform, via doing thorough academic, membership and registration test with the Medical Council of India (MCI) and makes sure that every single medical doctor listed on their platform has an MCI wide variety with them.
Trivia: – Practo Is A Product Of Naabo Medical Solutions!
The Formation & Growth Story Of Practo!
Phase-1
So it all commenced within the year 2008!
Shashank was studying on the National Institute of Technology, Surathkal (Karnataka). While he became busy along with his studies, he changed into hit with the information that his father had to go through a knee substitute surgical operation.
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Shocked till the center, he started out taking all of the necessary steps earlier than the surgical procedure. Wile at it, he had to ship his father’s clinical information to take a 2nd opinion of an American Physician approximately the operation that his father changed into cautioned.
But to his unfortunate luck and because of the shortage of technology in those hospitals and clinics, he became unable to get admission to enough information, to make an knowledgeable decision before placing his father’s life in the doctor’s palms.
Clearly, this incident left a large impact in his head, and unlike the relaxation of the loads, he determined to take the topics in his very own palms and solve the problem for accurate.
He approached his near pal and classmate Abhinav Lal, whilst he became in his very last-yr biotechnology on the National Institute of Technology, Surathkal (Karnataka), and together, they deliberate to build a software program to simplify fitness care.
The coding of the first version of Practo was completed inside weeks itself, soon after which they also easily located medical doctors who have been interested in their product.
And ultimately, the duo set up Practo Technologies Pvt. Ltd., pretty of their university hostel dorm room itself, in 2008.
Phase-2
Their first product become Practo Ray, a web management software program which gave the medical doctors the leverage to upload and store clinical statistics, prescriptions, affected person history, billing time table, make appointments, and many others.
Phase considered one of Practo Ray became in a manner a demo-like software which become created primarily based on the comments they'd acquired from the docs.
Dr Ranjani Rao, founding father of V2 E City Dental Centre, a chain of three dental clinics in Bangalore, turned into considered one of Practo’s first clients. Even after having a front office staff, she still went with the software program due to the fact their process become being made simpler and allowed them to make appointments, remind sufferers about visits, allowed her to scan her time table remotely and so on.
With the unavailability of some thing of this kind, in reality this software program worked of their favour and shortly, they were given selected at a Start-Up Acceleration Program initiated through Morpheus Venture Partners in 2009.
The schooling & mentorship they obtained on the software boosted their self assurance significantly; as a result via the cease of the 12 months, after its of entirety they expanded their second office in Chennai, Delhi and Mumbai as well.
Their only focus at that time turned into to spread the awareness amongst the medical doctors and the patients and the tempo, approach & concept with which they were transferring ahead, achievement became absolutely impending.
With the achievement of its demo model, the duo decided to move stay and flow into the software program among the alternative doctors in Bangalore, a lot of whom started out the use of it to streamline their exercise.
By 2011; after putting their base properly & getting decent commercial enterprise from the primary few cities they with a group of simply 9 people, later extended their attain to Hyderabad and Pune as properly.
To add to that, clearly they knew that the sector turned into now shifting to mobiles and it turned into very critical for them to be on it too, so with the aid of the cease of the 12 months Practo released their first ever Practo Ray Android App as nicely.
Phase-3
Next, the corporation made an unusual circulate and launched their Unique IVR Service- Practo Hello which helped the medical doctors to be linked to patients.
But the biggest leap changed into whilst in 2013, Practo Technologies launched their client- targeted – Practo.Com! Clearly, the motive of this portal turned into to boom their range and to make it more consumer-pleasant, and to tap the masses. And in line with the founders, the motive for tapping the clients so past due changed into actually because they would no longer were able to tie up with such a lot of docs in this kind of short notice.
Anyways as noted above, it had functions like a ‘Unique Appointment Booking System’ which allowed patients to ebook right away-confirmed appointments with docs. And eventually they ended the year via launching a Practo Ray App for iPhone users.
By now the enterprise had reached to different heights; that they had reached to come to be a 120- employeed corporation which catered to approximately 8000 doctors, the cloud-based totally carrier managed about 10,000 appointments an afternoon and the data of nearly 3 million sufferers. – mentioned on livemint.
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Another leap the enterprise took was when they decided to head worldwide! In the equal 12 months, Practo launched their first ever office in Singapore, and in a matter of approximately two years because their release, Practo Ray additionally have become the biggest on line clinic management software company in terms of marketplace proportion.
Later, Practo changed into also visible offering themselves to the European marketplace at the IDS Conference in Cologne, Germany as an initiative to soon mark their presence there!
And looking at their contemporary statistics; Practo currently lists nearly 95,000+ doctors on its platform, who're spread across 100+ cities with near 5+ lakh particular traffic a month, with nearly 1,500+ particular appointments an afternoon, truely they're main the manner.
Adding to that, in addition they have expectations to the touch 20+ lakh visitors a month, with approximately 5,000+ appointments made in a day and Rs. 20+ Cr. In sales soon.
Other than that; to boom cognizance approximately the platform, Practo has also lately pop out with their first tv campaign.
To sum up the campaign, it's been performed by means of Lowe Lintas, and is seen featuring customers from throughout various age-corporations who encounter diverse health-associated problems however are not able to locate the relevant scientific assist, and subsequently hotel to the Practo app and discover the nice doctors near their locations.
Coming to the prevailing, Practo is now to be had in 12 cities across India and is used by more than 10,000 docs, who save more than sixteen million health data.
With a team electricity of 500 personnel; the business enterprise is presently developing at a price of nearly 20-40% MoM (Month on Month) and is likewise in preparations to lease a thousand extra employees with the aid of March 2016.
Over the next one year, Practo also plans to extend to 35 towns in general and ultimately to 7- 10 countries.
Other than that; they are also running on something called ‘My Health Records’ characteristic on their gift platform. Using this option a consumer would be capable of upload his clinical records thru invoices and reports throughout hospitals.
Lastly, speaking approximately their investment; the agency has raised a complete of $124 Million from buyers like – Tencent Holdings (Lead), Altimeter Capital, Google Capital, Matrix Partners, Sequoia Capital, Sofina and Yuri Milner, up to now.
Other Affiliations & Acquisitions!
– Shashank is the ‘Founder circle member’ of iSPIRT Foundation – Genii, a technology offerings firm based by using Varun Vohra and Aditya Anand targeted on product layout and improvement, became acquired by using Practo in July 2015.
The entire team of Genii would be joining Practo. Apart from strong growth, another purpose for the acquisition became their long time vision of making Practo the remaining Health App!
- FitHo Wellness – a leading virtual fitness answer founded by Dhruv and Prachi Gupta become obtained Practo in April 2015, again keeping in mind their long time vision. The acquisition also took place because the organization intends to enlarge into the healthcare space and this will simplest help them easily introduce their services and move into the preventive healthcare space.
FitHo is already a profitable challenge where more than 6% in their customers pay Rs. 900-a thousand on a median, according to month.
The founders of FitHo, would now be running for Practo, where Dhruv will be taking up the function of Product Head for Preventive, whilst Prachi can be taking over the position of GM – Operations, New Segments.
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It is likewise believed that the organisation might also be acquiring the proprietary set of rules and advice engine, which automatically recommends custom diets and exercise regimens to customers, on the basis in their life-style, health requirements and food alternatives.
Other than that; Practo has additionally mentioned that, that is simply the primary stage of their acquisitions and has planned numerous other acquisitions in the close to future.
