Challenge accepted! This hilarious catchphrase was used by Barney Stinson – the character played by actor Neil Patrick Harris in the American sitcom How I Met Your Mother – every time he stood up to take up the craziest of challenges. He never shied away from any of them and tackled them with utmost dedication. Flashback to all the challenges faced by the health-tech startups – the numerous obstacles in the path of these startups that decided to venture into this domain, well aware of what they were getting into.
This sequel is not meant to dissuade the budding health-tech entrepreneurs from entering this space. Therefore, instead of continuing the never-ending list of challenges involved, the focus shall be on the kick-ass ability of health-tech startups to convert these challenges into opportunities.
Turning Venom Into Antidote
“Every challenge is an opportunity in itself, as it makes us iterate and improve our product to be able to make more people get benefitted from it. These challenges will exist and even new problems will surface, but that will actually give the opportunity to learn new ways to tackle them,” says Saurabh Arora, CEO & co-founder of Lybrate.
The unorganised nature of the healthcare space in India is a major hurdle for these startups. Practo found an opportunity here. It decided to build its own healthcare map of the world. It has its on-ground team that literally goes street by street, city by city, to capture doctor and clinic information, which is then carefully verified to ensure the authenticity of the shared information.
The other really big challenge is that the healthcare information is not digitised and hence not readily accessible all the time. This means that most consumers don’t really have a comprehensive healthcare history – which can often lead to incorrect or sub-optimal diagnosis and treatment.
To deal with the same, Practo came up with its cloud based SaaS practice management software for doctors, called Practo Ray. “We enable them to manage their practice (scheduling, billing and inventory) and most importantly – create and share digital records with their patients and patients can in-turn share them with others if they want,” explains Shashank ND- Founder and CEO of Practo.