ShifaCare is a multi-user % way virtual consultancy with real time health care
professionals, a Healthcare App which allows any Patient to connect with any
doctor or multiple doctors for multidisciplinary care in English and 65
Indian languages from smart phone via Video call to get diagnosis, second
opinion, consultation, prescription and get the medicine delivered to their
home and launched in Dec 2019 in India.
Current Status
Launched in India Dec 2019 with 5,000 Downloads
Market
- 1.3 Billion Population growing 17%/ 10years
- 1 Million Doctors, Highest Doctor Patients Ratio of 1:14,000
- 70% population lives in 500,000 Villages, No Access to specialist
- 23,000 Hospitals with 300,000 Rural Beds makes it 0.6 Bed / Village
- Travel Cost to City specialist is higher than Medical Consultation
- Chronic Disease follow-ups on smartphone Can reduce total treatment cost by 50%
Problem or Opportunity
India is Out of pocket market for health care with 1:14,000 Doctors /Patients Ratio - lowest in the world with 400Million Smartphone users to connect Doctors to patients provides new market opportunity for mobile Health tech
Solution (product or service)
Shifa App which allows any Patient to connect with anydoctor or multiple doctors for multidisciplinary care with unique 5 way video call in English and 65 Indian languages from smart phone via Video callto get diagnosis, second opinion, consultation,e-prescription and get the medicine delivered to theirhomes on Smartphones in India
Competitors
Practo
mFine
1Mg
Advantages or differentiators
- Multiuser for multidisciplinary medical care from Phone
- Multilingual matching algorithms for Patients to connect with same language Doctor/s
- Crypto algorhytham secured e-prescription
- Nexus of Doctors in 70 Specialities and GPs with Family profiles in one ecosystem
- complete payment gateway from Patients to Doctors
Finance
ShifaCare aims to have 10,000 Doctors on platform providing 35 Medical Consults a day for 18 working day a month with Average Consult fee of Rs 300 will Generate $25 Million USD Revenue for ShifaCare
Doctor Consulting Revenue (US $) 254,417,816
Revenue - Traditional Consulting (US $) 240,808,273
Revenue - Video Consulting (US $) 13,609,543
Shifa Service Fee 10%
ShifaCare Revenue (US $) 25,437,924
Business model
App Is Free To Download And Use For Doctors, Patients Will Pay 10% Service Fee On each Consultation Fee of the doctors.
Money will be spent on
This Investment of $2M USD will last ShifaCare for 24 Months, Which will enable Shifa to acquire 10,000 Doctors on platform and will generate $25 MUSD in Revenue.
New market Development and global rollout is a big challenge to overcome
Incubation/Acceleration programs accomplishment
No
Won the competition and other awards
Winner Top 50 Healthcare Companies IFAH 2019 UAE
Invention/Patent
EcrytoRx is unique prescription which is secured by Crypto-Key and world first two way interactive prescription where Doctors can generate prescription and patients can document adverse events in real time