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Health care solutions through simplified tech.solution

India, Tamil Nadu
Market: Consulting, Medicine, Services, Mobile applications
Stage of the project: Prototype or product is ready

Date of last change: 08/05/2019
Min investment
$  20.000
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Total required
$ 400.000
Rating
equalizer 66 из 1000
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Idea

To reduce error in hospital work flow, reduces the cost of health care services,waiting time of patient in hospitals and travelling time and expenses to go to a hospital , etc.

Current Status

We have few customers for the product- Raj PIS

Market

The Market:
Private and Government Hospitals, Medical Practitioners (Tele-health Clients), Small Clinics, NGO connected with rural pockets, Medical Devices Manufactures and Research Organisations.
Service providers of Health care @ Home/Old age homes atc.

Problem or Opportunity

1.Neglect of Rural Population
2. Shortage of Medical Personnel
3. Expensive Health Service
4. Poor Health Infrastructure
5. Diagnosis Of Illness due to lack of specialists
6. Poor access (internet / 3G / 4G) technology
7. Lack of awareness and education about health(care)
8. Choice of right technology partner
9.Well informed and modern day doctors and patients are realized the importance and use of these type of app.
10.We can target doctors having general practice in more than one places. They can consult a patient while travelling or away from hospital locations and access patient info anywhere and anytime.
11.Opportunity for hospitals to convert tele patients into a outpatient or inpatient.
12.Telemedicine facility of a hospital or a nursing home could be a value added service for patients. It may augment their revenue.
13. A hospital with telemedicine can cover more geographical area and enroll more patients in their roll.
14.Hospital if necessary can have second opinion with other leading medical experts through this technology at low cost.
15.Opportunity for remote patient monitoring on vital parameters.
16.Boon to home for aged and orphanage to have these facility to meet medical emergencies at any time.
17.Acceptance and usage of small smart electronic medical devices will compliment or go hand in hand with Telemedicine PIS.
18.Having a telemedicine facility at leading medical store is an opportunity for patients going to medical store without a valid prescription from doctor for any ill health to buy right medicines.
19.Telemedicine with Raj PIS may facilitate live stream of 2D or 3D video to other needy groups.
20.It could be a suitable substitute for any bogus doctors with well trained nurse at any rural place.
21.There are many US or UK portals make use of telemedicine and charge $20 to $48/consultation..It has started to yield result in major cities in India.
22.Telemedicine PIS can be played major role in medical tourism field if we position it properly.
23.There are Hospitals, Nursing homes, Clinics looking for these type of latest IT solutions before going for NABH accreditation or ISO certification.

The mobile health industry in India is expected to reach US$ 3.6 billion by 2020

Solution (product or service)

Raj PIS is powered by latest generation Android,web and cloud technologies, which ensures virus free environment and stores data in a secured Linux/Cloud server. Patient Information System can be easily used and managed by doctors, specialists, paramedical and other staffs in a hospital. The entire work flow in a hospital is automated and entire documentation is digitalized.Raj PIS for Clinic or Hospitals with EMR,ICD Code 10, Templates,etc. This application working on SaaS revenue generation model. Also,it facilitates Teleconsultation through video call, Remote patient monitoring and Health care @ Home.Simple to use.

Also, it has OPD, IPD, lab, Pharmacy, Patient modules etc.

It bring down the cost of health care, travel time and waiting time in the hospital

Competitors

eclinicalworks,Practo,Docmoc etc.

Advantages or differentiators

1.Simple to use
2. It is a work flow based, cloud app on SaaS revenue generating model 3.Smart phone with high hardware configuration and 3G/4G internet connection are available as on today in many countries including India. They are widely available at affordable cost. This paves the way for the acceptance and usage of this Raj PIS app.
4.Doctors and patients have already started to use WhatsApp, audio call, mail etc. of telecommunication technology features for exchange of medical data/records, images, files etc. as part of direct or remote consultation through smart phone with 5 or + inch size. Therefore, we can convert these target group after 2 or 3 rounds of persuasion.
6.Govt. supports digitalization of patient records and access of these records from cloud server.
7.Doctors can have all patient information in their hand (phone) and access those information anytime anywhere.
8.Saving on travelling time and cost is ensured, waiting time in hospital queue is removed and consulting cost is reduced.
9.Raj PIS is backed by open source technologies and data are encrypted. Role based work flow is followed for transactions with restricted access control feature.
10.Raj PIS ensures 100% paperless environment and digitization of records
11. According to a US survey, 70% of the patients are satisfied with telemedicine service
12.Telemedicine is very popular in US,UK and few parts of Europe. We hear lot of news about it in India. Trade shows, Conferences etc.
13.No dedicated resource is required to maintain server.

Finance

As it is a cloud based application with SaaS revenue generation model.
We can bill @ $250/Hospital/Nursing home/Clinic/Month.
If we have a efficient marketing team, we can add approx 10 Hospital/Nursing home/Clinics per month.

Revenue from 1 hospital for one year= $250 *12 = $3000/year
For 5 years = $15,000
Then, revenue from 100 hospitals = $15,00,000/year

Business model

Engage the market with both Online and Field Sales Team.
Field sales constitute both Direct Account Team and Sales Channel/Alliance Team.
Create a separate channel for Tele-health service focus, through NGOs, Rural Bodies and CSR.
CSR are one of the best changes that have happened in India in recent times. In 2013 amendment in the Companies Act, CSR was mandated, and the act has formally brought more companies to the fold.
There are many other opportunities
B2B
B2C

Money will be spent on

Money will be spent for marketing, cloud storage, to develop modules using AI, Big data etc.

Offer for investor

It will be shared at the time negotiation

Team or Management

Risks

1.Low quality internet service and smart phone may hinder the service
2.Govt. rules and regulations may create distraction
3.Hospital staffs may resist the digitization efforts
4.Lack of proper plan to face the Competition
5.Lack of proper pricing may affect our revenue generation model
6.Services without proper disclaimer may lead for legal problems

Won the competition and other awards

Wilfred, MD of Raj InfotechBiz Solutions Pvt.Ltd. is a Trivandrum Healthcare Leadership Award Winner.

Website address

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video
Website address