The Indian healthcare segment has been growing steadily in the past decade. The introduction of technology-based services has helped increase transparency for people. It has also improved the consistency of available information.
Mumbai-based PSTakeCare is one such healthcare initiative. It offers information on doctors and hospitals in the user’s vicinity and allows them to book appointments accordingly. The information available includes consultations, facilities, rooms, ambulances, and reviews.
The PSTakeCare website was launched in June and the company is a team of graduates from IIT Bombay and Institute of Chemical Technology, Mumbai. The idea was conceptualized in November 2014 after Pratik Chinchole, co-founder at PSTakeCare, realized there was a lot of information asymmetry existing in the healthcare market. Uneven pricing and fees for medical procedures make it difficult for patients to assess the quality of the medical help available. “We realized that the three-dimensional network of doctors, hospitals, and the services they offer needs to be showcased and put up front for the consumer,” Chinchole said while speaking to Tech in Asia.
Currently PSTakeCare is active in Mumbai and has 60 hospitals and over 100 doctors on its portal. The user can search for the required treatment in a particular area and the search will produce a list of hospitals and doctors providing this service, along with the cost and the quality attached to it through the ratings – thus enabling transparency. PSTakeCare is also working to increase its doctor and hospital database. Once contacted by a professional, PSTakeCare conducts background research before adding the service to the list.
“Healthcare is not a luxury product. A good doctor could charge you less and still do a good job, and that’s where we come into the picture,” says Chinchole.
Before setting out, the PSTakeCare team conducted market research on the existing competition, the gaps in supply and demand, and how the company would be different from the existing players. Companies like Practo, Qikwell and Surgerica are well established in the sector in terms of information discovery. When asked about taking them on, Chinchole said, “The key differentiation is our product and none of the competition delves into the services like us. We help the consumer make decisions on our platform with the quality and cost parameters for every medical service that is listed.”
PSTakeCare is currently angel funded and is looking to raise a seed round in the near future.
Going ahead, PSTakeCare is focusing on improving its product and expanding across India.