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Policybazaar Group Invests $50M into Its Newly Launched Healthcare Venture DocPrime

DocPrime has tied-up with 14,000 doctors and 5,000 diagnostic labs at present and aims to expand its network to 1,50,000 doctors and 20,000 labs across 100+ cities.

DocPrime, the latest healthcare venture by EtechAces Marketing and Consulting Private Limited (“Policybazaar Group”), announced that it has received initial internal funding of $50 million from the parent company. The Policybazaar Group also owns India’s leading insurtech brand PolicyBazaar.com and leading lending marketplace, Paisabazaar.com.

DocPrime connects patients with doctors in real time and bridges the gap between need and fulfillment using state-of-the-art technology and a robust offline network. Besides providing free consultation on chat and phone by in-house team of health experts, it also facilitates booking of doctor appointments and lab tests at discounted rates and will soon be giving the option of OPD subscription packages with unlimited consultations and tests. The company is targeting 1 million free medical consultations by March 2019 and up to 5 million by March 2020.

According to Yashish Dahiya, CEO and Co-founder, Policybazaar Group of Companies, “Healthcare sector has a lot of untapped potential and currently, the services are not affordable and accessible for all. With rising out-of-pocket expenses, there’s a need to provide quality healthcare at competitive prices that can be accessed by anyone, anywhere. As a Group, we wholeheartedly support docprime.com’s vision to provide a customized experience and maximize health benefits for everyone.”

Excited about the investment, Ashish Gupta, CEO, DocPrime said, “We intend to use the capital in providing seamless user experience and bringing innovation in the healthcare space. Our focus is to make the services more customer-friendly driven by transparency, trust and sustainability. We are bringing innovation through use of various technology tools like AI, data science and deep analytics.”

He further added, "Our core offerings include free consultation services through chat and phone from our in-house doctors, and discounted doctor and lab appointment bookings to encourage consumers in seeking expert medical advice and getting right solutions in a timely manner. Soon, we will also bring a unique OPD subscription-based product, which will cover unlimited consultations and diagnostic tests."

DocPrime has tied-up with 14,000 doctors and 5,000 diagnostic labs at present and aims to expand its network to 1,50,000 doctors and 20,000 labs across 100+ cities. Currently, appointments can be booked with doctors and labs based in Delhi-NCR but from next month onwards, the facility will be made available across all major cities including Mumbai, Bangalore, Hyderabad & Chennai.



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