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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 detailed information regarding 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

-Founder of Practo

-Story of Practo Business Model

-The Growth Members

-How Practo Earns

-Marketing Strategy of Practo

-Problems Faced by Early Stage

-Funding Details

Practo Competitor

-Acquisition

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 also 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.

Practo-business-model-case-study-how-practo-earns

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.

practo-business-model-case-study-founder-ofpracto

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.

success-story-of-practo-business-model

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 percent per month.

How Practo earns

Practo has two distinct products, with their own 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 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 humor.

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:

practo-campaigns=business-model-practo-case-study

Marekting Campaign:

practo-marketing-campaign-business-model-case-study

Find the Right Psychologist:

practo-business-model-case-study-marketing-strategy

Problem Faced by Early Stages

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.

Challange 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

Operating Status                      Active

Funding Status Late Stage       Venture

Last Funding Type                    Series E

Number of Employees              5001-10000

Practo Technologies Private Limited

         

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

practo-investors-practo-business-model-case-study-of-practo

Investor Name  Lead
Investor 
Funding
Round 
Partners 
Trifecta Capital Advisors   Yes Series E –
Tencent Holdings   Yes Series D –
RTP Global   NoSeries 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-business-model-case-study-practo-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-competitors-of-practo

1mg Business Model:

1mg is a digital healthcare platform that makes healthcare accessible. They provide consult 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, 2016Enlightiks acquired by
Practo  
Insta Health  Sep 14, 2015$12M Insta Health acquired by Practo  
Qikwell Technologies  Sep 2, 2015Qikwell Technologies acquired by Practo  
Genii Technologies   Jul 9, 2015 Genii Technologies acquired by Practo  
Fitho  Apr 23, 2015 Fitho acquired by Practo  

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Practo Business Model | Case study | How Practo Earns?
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