Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Mykare Health.
The health care system in India has numerous public and private Health centres at different levels. There are district hospitals, primary health centres, community health centres and more. Still there are associated Challenges With it, like - poor infrastructure and low quality control. Health facilities in India is insufficient for such huge population.
Mykare has brought affordable healthcare facilities so that every common Indian can get benefitted from their service. They encouraging innovation and collaborations to improve medical service. They help people throughout the treatment, from picking the patients to make them reach the destined centre, the treatment, and post treatment care at minimal charges.
Read to know about Mykare health startup, founders, and the story of its growth.
Mykare Health - Company Highlights
| Startup Name | Mykare Health |
|---|---|
| Headquarters | Bangalore |
| Industry | Healthcare |
| Founder | Senu Sam, Rahmathulla, and Joash Philipose |
| Founded | 2020 |
Mykare - About
Mykare - Industry
Mykare - Founder
Mykare - Idea & Startup Story
Mykare - Name, Tagline, and Logo
Mykare - Products & Service
Mykare - Business model
Mykare - Customer Acquisition after Startup Launch
Mykare - Challenges Faced
Mykare - Grwoth
Mykare - Competitors
Mykare - Future Plans
Mykare - About
Mykare Health seeks to develop India's biggest asset-light healthcare network for elective surgeries and preventive care, with the goal of improving the healthcare experience of every ordinary man. Mykare is a comprehensive platform powered by artificial intelligence. It's a hassle-free platform-driven end-to-end surgical journey for patients, with AI-enabled screening, Flexible Payment & No Cost EMIs, transparent and affordable pricing, AI-enabled Insurance platform, 24*7 In-app care, 20 to 40% cost savings, unlimited post-care, pickup and drop, and free room upgrade, family-like on-ground care. All Mykare facilities are Covid SAFE and have high-quality surgeons and recognized centers.
Mykare - Industry
Looking at the elective surgery market size and medical travel industry in India and small number of hospitals in India, the hospitals will be mostly a place for inpatient care and most of the other functionalities will be start disintegrating.
Mykare - Founder
Mykare has been founded by Mr. Senu Sam, Mr Rahmathulla, and Mr Joash. Senu Sam is the key founder and CEO of Mykare. Mr Rahmathulla serves as CTO and Mr Joash is the CPO of the company.
The founding team is from Sales, Tech and Product/ Ops background. This diversity is the key for the senior leadership. The team focus on individual strength area and coordinate each other.
Mykare has started with 2 people and now it has a team size of 22 people.
One of the main culture they are building is the family atmosphere. They also make sure high respect and value to every human being who comes along.
Mykare - Idea & Startup Story
Senu Sam got the idea to develop Mykare when his father was hospitalised to a small hospital in his native town for surgery, and he flew down to coordinate the entire process. When he put himself in the shoes of an ordinary patient, he saw the entire process develop from a different angle. This made him question how his father was one of numerous people around the country who were waiting in the hospital with no idea what they were going through. This is when he realised there was a need for an end-to-end technical platform experience with tailored and standardised treatment for patients seeking low-cost surgical care.
Arbaz Sayed
Mykare - Name, Tagline, and Logo
The name Mykare health has been chosen to make sure to get closer to every common man.
Mykare - Products & Service
75% of India's population lives in Tier 2 or Tier 3 cities, whereas 80% of doctors and healthcare facilities are present in Tier 1 cities; as a result, a large number of patients go from tier 2 and 3 cities to tier 1 cities for better treatment. Mykare help these patients in finding out the most affordable treatment along with travelling, accommodation, and aftercare.
Mykare has tied up with under utilized small & medium hospitals in India. It enables partner hospitals with technology, patient access, and branding. The brand utilises the underutilized facilities & their senior surgeons for the procedure.
MyKare operates with four facilities in Chennai and plans to expand its services in the whole South Indian region including Tamil Nadu, Karnataka, Kerala, Telangana, Andhra Pradesh, and Maharashtra.
Mykare - Business model
Mykare works on revenue share model with the service providers.
Mykare - Customer Acquisition after Startup Launch
Due to the population of India, it's a country with a lot of demand for affordable healthcare. Connecting these patients to the right affordable centre is the first challenges in the demand side. Mykare started developing POC centres in every city through which they onboard the patients. On the other hand, Supply facilities are available and underutilized.
Like any other startup journey they have tried out a lot of options. Their initial focus was only on a market place model, however they came across many situations where the experience for the patient who has to travel has a lot of challenges when they reach the facility. This is the reason they decided to take care of the end to end journey of the patient right from first touch point, on ground and Post Care.
Ashwini
Mykare - Challenges Faced
Maintaining the quality of the patient care and their experience was the big challenge initially. After the learnings, they have deployed out of care teams to make sure this is taken care of.
Mykare - Grwoth
Mykare is operating its business at 4 Domestic and 1 International Locations. They are planning to start 20+ centers and 10 Demand cities. They have been approached by 1500 patients in last 9 months and 420 surgeries were performed. They are growing with 300% YOY revenue growth.
Mykare - Competitors
Mykare top competitors are:
- Pristyn Care
- Glamyo Health
Mykare - Future Plans
Moving forward they are planning to partner with some international companies in healthcare space.
FAQs
Who is the founder of Mykare?
Mykare has been founded by Senu Sam, Rahmathulla, and Joash Philipose.
When was Mykare founded?
Mykare was founded in 2020 at Bangalore.
What is the service offered by Mykare?
Mykare help patients in finding out the most affordable treatment along with travelling, accommodation, and aftercare.
Source :- https://startuptalky.com/ Author :- Preeti Karna Date :-February 20, 2022 at 10:43PM