Konsult Aims to Monetize 60% of All Medical Consultations
When you need emergency medical help but you are far from a doctor, Konsult will come to your rescue.
Konsult App core team; Anshul Mittal, cofounder on extreme left
Anshul Mittal, cofounder of Konsult App, the tele-consultation platform says, “Dr. Puneet Agarwal, the other cofounder of Konsult, has been in the medical field for the past 25 years. Dealing with the patients and the unwell it was always at the back of his mind that there were other thousands of patients who couldn’t get through to him when they were in emergency situations.
He felt the lack of a proper communication channel, more so for his international and outstation patients. Thus, in order to provide a technologically strong, flawless medical supervision to patients, Konsult came into being in May 2016. “
Konsult panel of doctors comes from Medanta – The Medicity, Max Hospitals, Fortis Hospitals, Apollo Hospitals, Artemis Hospitals and Paras Hospitals.
Here’s more on Konsult from Anshul:
What is the market size and opportunity for tele-consultation?
Total market for relevant consultation is close to 700 to 800 million consultations every year. Out of this more than 60 percent of the consultations can be done remotely.
[A consultation with a general physician may start at about 400 rupees. Simple math ought to tell you that this is a lucrative market]
How does it Konsult work?
Our brand works on three different models, namely:
1. Post consultation or follow up model - Konsult App acts as an interface between doctors and their patients. Usually after the first in-OPD visit, there is no channel for the patients to consult their own doctors remotely. Data shows that more than half of all follow ups can be done remotely without the patient being physically present. Hence, the patient-not-present (PNP) market is a huge opportunity and focus area for us.
Moreover, consultations using Konsult turn out cheaper because the patient pays based on the duration of the call and also saves time and cost. Konsult also lets patients and doctors share medical documentation for review and opinion through an in-built chatting interface.
2. Second opinion - Konsult has also evolved into a credible portal for taking second opinions especially in case of chronic and serious ailments. When it comes to health, people don’t want to compromise and want to provide patients credible and quality services.
3. Konsult offline / non-smartphone solution - To cater to those patients we have designed an offline solution which offers the same services as the app based solution. Users can buy recharge coupons and consult the doctor through Konsult’s IVR based system. Nobody else has a solution specifically designed to cater to the huge Indian populace who travels great distances for healthcare especially rural patients.
What’s unique about Konsult?
We work with hundreds of renowned specialists from top Indian medical establishments. Doctors are available 24X7. There is no prior booking or appointment.
What is the funding status and monetization model?
The company was started with a capital contribution from the promoters and later on we have raised two rounds of seed funding from angel investors. The company is currently syndicating a pre-Series A round of funding.
How do you look at expansion?
The company is syndicating the next round of funding to scale and propel growth. The idea is to add 10,000 doctors in the next one year.
Our operations is our backbone and currently we have about 1,000 doctors on Konsult App on boarded within 6 months. So far we have served more than 25,000 patients. January saw in excess of 12,000 transactions and more than 20,000 engagements
What challenges are you facing in running your business?
We are building a business that has high barriers at the entry level. Online consultation is a relatively new concept for Indians. It takes a lot of time to build the faith and educate the audience of the work process.
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