Bengaluru-based healthtech startup HealthPlix has raised $6 Mn in its Series B funding round. The investment has been led by JSW Ventures with participation from existing investors Chiratae Ventures and Kalaari Capital.
The company said it is doubling its efforts to help doctors provide in-person or remote consultation to patients using the same digital platform seamlessly. It has raised $10 Mn till date.
Founded in 2014 by Raghuraj Sunder Raju, Sandeep Gudibanda and Prasad Basavaraj, HealthPlix began with a focus on outpatient care. But the company appears to have changed its focus towards SaaS with clinical software for doctors in digitising their entire clinical operations and clinical treatment methodologies.
The company says that it has built intellectual property around “longitudinal representation of the patient’s treatment journey” and in delivering actionable clinical decision support to assist medical practitioners in real-time and deliver better health outcomes.
HealthPlix’s smart Electronic Medical Record (EMR) software performs a wide range of clinical operations. For medical practitioners, HealthPlix assists with its clinical decision support (CDS), helps generate e-prescriptions under 30 seconds and digitally manages the entire operations of its clinics.
The HealthPlix mobile app enables patients to avail video consultations with specialist and super-specialist doctors. HealthPlix claims to assist in more than 50,000 consultations on a daily basis across 12 medical specialities in more than 180 cities across India.
Sandeep Gudibanda, cofounder and CEO of HealthPlix Technologies said, “We have been helping thousands of doctors in India to elevate their clinical practice to truly an evidence-based treatment methodology using HealthPlix EMR and now we believe that we can use Real World Evidence (RWE) Platform to assess the efficacy of various treatments being deployed and thus contribute our bit in the research of much needed COVID treatment.”
The company said during Covid-19, it digitally-enabled an additional 15K doctors to offer video consultations to their own patients. The company is also exploring collaborations with the State governments to bring Covid-19 disease information on a single platform and assess outcomes of various treatments adopted by leveraging its Real-world Evidence (RWE) capabilities.
Gaurav Sachdeva, managing partner of JSW Ventures said, “We are excited to partner with HealthPlix to build the de-facto technology platform for doctors in India as well as to realise the vision of using medical insights to improve health outcomes. We believe that HealthPlix is uniquely positioned to take advantage of strong tailwinds that the Indian healthcare industry is experiencing in terms of increased medical information capture, interoperability, and automation.”
According to a 2017 study published in the Annals of Family Medicine, doctors dedicate twice as much time to creating electronic health records for patients as the time spent meeting patients. Further, a Mayo Clinic report suggests that spending less time with patients can even lead to burnout symptoms such as emotional exhaustion, depression, among others.
According to Datalabs by Inc42, there are a total of 4,892 startups in the Indian healthtech space as of 2018. Overall, the healthtech startups in India raised a total of $504 Mn between 2014-2018.
IBEF estimates that the Indian healthcare market will be valued at $372Bn by 2022 and healthtech startups are expected to play a key role to back this growth and startup incubators are helping these startups to grow and market themselves better.