This Healthtech Start-up Brings Care to Your Doorstep
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.Making good health a priority, HealthCare atHOME is bringing personalized and professional health care services in the comfort of your home. Its co-founder and chief executive officer Vivek Srivastava, in an exclusive interview, speaks about industry dynamics and the way forward.
Take us through your company’s journey?
HealthCare atHOME started its operations with staff strength of two in 2012. Exceptional customer experience (NPS > 65%) helped us grow from a small start-up to a 1500+ member organization that has proudly served 4,00,000+ patients across 70 cities and delivered medicines across 100 locations through our pharmacies in 13 cities. We are the largest player in the integrated pharma services. We work with all the top pharmaceutical companies in India to deliver patient support programs. We work with top hospitals in the country and also work with almost all the large healthcare insurers now to deliver services. We also signed a joint venture with M3 Inc a listed Japanese multinational company with > USD 9bn market cap.
What kind of services do you offer through HealthCare atHOME?
We can provide a complete spectrum of healthcare procedures at the patient’s home with the exception of surgeries and emergency medical procedures. Some of the key services offered by HCAH include setting up ICUs at HOME, providing cancer treatment at home, elderly care, post-operative care, home dialysis, home nursing and physiotherapy along with providing plethora of clinical procedures at home thereby delivering almost 70 per cent of all clinical services at home. We act as a one-stop shop for the pharma companies to manage their patient journey right from awareness, screening, diagnostic, onboarding of patients, clinical services, patient training, compliance management and Patient Assistance Programs. We also deliver chronic medicines to patients right at their doorsteps all over India.
Who are your top competitors?
In the home healthcare market Portea, Nightingale, Care24, Apollo Homecare are our competitors though we have the highest level of clinical capabilities and geographical spread amongst all. In the integrated pharma space, we are the dominant player. Why is healthcare segment growing so fast? The overall Indian healthcare market is worth around US$ 100 billion and is expected to grow to US$280 billion by 2020, a Compound Annual Growth Rate (CAGR) of 22.9 per cent. The market for home healthcare in India is projected to reach $6.2 billion by 2020. The sector’s growth was mainly driven by growing population and rising life expectancies. Increasing incidence of lifestyle and non-communicable diseases such as cardiac diseases, cancer and diabetes. Growing middle class, rising incomes and increase in awareness and insurance penetration. In the years to come, we expect to witness a paradigm shift in the Indian healthcare. The preference to get home healthcare is also on a rise. If India has to reach global challenges on healthcare front by 2020, functional hospital beds have to increase from 0.9 to 4 per 1000 population, which is an increase of 470 per cent. Home Healthcare can help bridge this gap as it has the potential to transform healthcare delivery in India, reducing the pressure on the hospital infrastructure, ensuring smooth transition from hospital to home, reducing chances of re-admissions, giving quality healthcare in Tier I and Tier II cities and reducing treatment cost.
How HealthCare atHOME is different from others?
Our key differentiators are 1.) Strong Management Team 2) Clinical Credibility: We follow CQC UK guidelines. Have strong hiring, training (simulation-based and electronic), competency and audit process (onsite, telephonic and video based) 3) Maintain a Net Promoter Score of more than 65 percent and have very high patient satisfaction rate 4) Follow a care plan based approach 5) Technology-based documentation and monitoring.