2 Minute Summary
Practo is an app for Online booking appointment with a Doctor. It aims to Make your clinic visits cashless, paperless and painless. It was founded by Abhinav Lal (CTO) and Shashank ND (CEO) in 2008. Both are born in Bengaluru and studied at B.Tech, computer engineering at National Institute of Technology, Karnataka. Both are born in Bengaluru and studied at B.Tech, computer engineering at National Institute of Technology, Karnataka. It has over 4 million monthly users and 120,000 appointments booked every month, with traffic growing at 24 per cent per month. For Doctors facing practice management software they offered two price points, Rs. 999 and Rs. 1999 per month. The premium plan also includes a cloud telephony-based IVR system for doctors. A@Also, They are Promoting them through Doctors and Digital Marketing. Practo is funded by 11 investors. Trifecta Capital Advisors and Tencent Holdings are the most recent investors. It has acquired 5 organizations. Full Detail in Blog.
Detailed Case Study on Practo Business model:-
Making your clinic visits cashless, paperless and painless ~ Motive of Practo Business Model
Have you ever searched for an online doctor?
If you have ever booked an online appointment with a doctor, you must have heard about Practo.
But have you ever wondered how Practo Business Model earns works?
We have got all covered for you.
After reading this blog, you’ll get the detailed information regarding the Business Model of Practo and all the online Medicine Business Models.
Healthcare is one sector which has always lacked the full-fledged of IT.
Online doctor is a term that came during the 2000s, used by both the media and academics.
Keep reading and learn how a twenty-year-old NIT Graduate dared to take a different path.
Business Model of Practo with their website has taken it to a different level.
It has the facility of being delivered to Doctors appointments system, now chat with top doctors, Tests & health checkups and Medicine and more.
What’s in it for me?
Online Medicine Business
In recent years in India, startup growth level is increasing very fastly in all the field and making India digital and most of the people go through online.
Online medicine business is also a new way to become digital and people search for an online doctor appointment for their treatment.
When we go to buy medicine in the market, we only getting 10% or 15% discount on worth RS-100 or 200, but when we go through online we get 20% or 30% discount in Medicine.
That’s why many people in India go to buy online medicine to get more and more discount.
Founder
Abhinav Lal (CTO) and Shashank ND (CEO) behind this Successful leading business in Medicine in the health industry.
Both are born in Bengaluru and studied at B.Tech, computer engineering at National Institute of Technology, Karnataka.
Story of Practo:
The founders Abhinav Lal and Shashank ND launched in the year 2010.
Shashank ND was frantically getting together his father’s medical record and scanning them.
He wanted to get a second from the American physician, for an operation that his father was about to undertake.
If that does not bed enough, he was also unable to access enough information about the doctor.
To make an informed decision before putting his father’s life in his doctor’s hands.
This incident urged Shashank and his classmate, Abhinav Lal, to set up Practo Technologies Pvt. Ltd.
The Duo founded the company in Bengaluru, in 2008, when they were still college students in their final year of engineering (B. Tech, computer engineering) at National Institute of Technology, Karnataka.
Though numerous players have come into the practice management space since began, Shashank believes that razor focus on product quality and support has enabled it to maintain a steady lead.
Practo growth Members
Practo.com has over 1,20,000 doctors listed from over 310 Town and Cities in India with comprehensive service in metros of Bangalore, Delhi, Mumbai, Hyderabad, Chennai.
It has over 4 million monthly users and 120,000 appointments booked every month, with traffic growing at 24 per cent per month.
How Practo earns
Practo has two distinct products, with their revenue models:
-Healthcare Provider/ Doctor facing practice management software, sold as a subscription-based SaaS product.
-Practo Ray is offered at two price points, Rs. 999 and Rs. 1999 per month. The premium plan also includes a cloud telephony-based IVR system for doctors.
-While this is a free product for both patients and doctors, Practo.com allows contextual advertisements from hospitals and clinics in the demarcated section of the website.
Marketing Strategy
Practo is an online platform where a customer can search and book appointments with a doctor conveniently.
It has shown it’s the witty and engaging approach in its marketing campaigns.
Its popular digital campaigns “If you could sing to your doctor” even encouraged a sequel campaign named “If your doctor could sing to you”.
How often do you see that happening?
It has a success mantra to superbly executed campaigns. Their core idea is to create engaging and witty content for users and bring a smile on their faces using humour.
Promotion through Digital Media:
It has majorly been promoted through digital media with an active presence on social media platform such as Facebook, Twitter, LinkedIn, Youtube.
It is currently promoting itself by positioning as ‘your home for health’
The main aim is signifying simplicity which has been offered by the platform to the consumers and other stakeholders.
They promote itself to the B2B segment through social media, TV adverts and offers free profile creation of doctors and provides free- trials of its software for the B2B customers.
Practo Marketing Campaign:
Find the right Lab for Liver Function tests:
Marketing Campaign:
Find the Right Psychologist:
The only pervasive problem would be the inability of some of the old school doctors and patients to convert as they would be too well adapted to the prevalent system and would not be changed.
The reputation of these doctors over the years would give them a cushion and would not necessitate them to adapt to changing technologies.
Challenge faced:
Targeting these doctors or clinics would be a challenging task but they would have a large enough market even if it does not focus on the members of the old school healthcare system.
Funding (CrunchBase)
| Categories | Fitness, HealthCare, Marketplace, SaaS, Wellness |
| Headquarters Regions | Asia-Pacific (APAC) |
| Founded Date |
2008 |
| Founders | Abhinav Lal, Shashank ND |
| Funding Status Late Stage | Venture |
| Last Funding Type | Series E |
| Number of Employees | 5001-10000 |
Practo Investors
| Number of Lead Investors | 3 |
| Number of Investors | 11 |
Practo is funded by 11 investors.
Trifecta Capital Advisors and Tencent Holdings are the most recent investors
| Investor Name | Lead Investor |
Funding Round |
Partners |
| Trifecta Capital Advisors | Yes | Series E – | — |
| Tencent Holdings | Yes | Series D – | — |
| RTP Global | No | Series D – | — |
| Matrix Partners | No | Series D – | — |
| Altimeter Capital | No | Series D – | — |
| RSI Fund | — | Series D – | — |
| CapitalG | No | Series D – | — |
| Sofina | No | Series D – | — |
| Sequoia Capital India | No | Series D – | Shailendra Singh |
| Thrive Capital | No | Series D – | — |
Mobile App Metrics by Apptopia
| Downloads(30 Days) | 16,667 |
| Monthly Download Growth | -1.6% |
It has 16,667 monthly app downloads. The most popular apps downloaded are – Doctors and Medicines, Practo Pro – For Doctors, and Consult & Profile Management.
| App Name | App Store | Monthly Downloads |
| Practo – Doctors and Medicines |
Itunes Connect |
|
| Practo Pro – For Doctors | Itunes Connect |
|
| Consult & Profile Management | Google Play | — |
| Practo Synapse | Google Play, Itunes Connect |
— |
Competitors :
Netmeds
Netmeds is an online store which sells Medicine in a wide range of prescription medicine and other health product conveniently available all across India.
1mg Business Model:
1mg is a digital healthcare platform that makes healthcare accessible. They provide consult with qualified and registered doctors on chat for free.
Acquisition:
Number of Acquisitions 5
It has acquired 5 organizations.
Their most recent acquisition was Enlightiks on Dec 16, 2016.
| Acquired Organization Name | Announced Date | Price | Transaction Name |
| Enlightiks | Dec 16, 2016 | — | Enlightiks acquired by Practo |
| Insta Health | Sep 14, 2015 | $12M | Insta Health acquired by Practo |
| Qikwell Technologies | Sep 2, 2015 | — | Qikwell Technologies acquired by Practo |
| Genii Technologies | Jul 9, 2015 | — | Genii Technologies acquired by Practo |
| Filho | Apr 23, 2015 | — | Fitho acquired by Practo |