The Neon Show The future of Healthcare in India ft. Prasad Kompalli, Founder, Mfine
During the pandemic & lockdown since last year:
# Initially people weren’t able to visit a doctor personally;
# And, currently both the patient & the doctor try to avoid meeting physically unless it's absolutely necessary
During this period, Telemedicine has grown silently and rapidly, revolutionizing Indian healthcare.
Recent report by EY, has predicted robust growth in the country’s telemedicine (e-consults & e-pharmacy) sector between now and 2025 – at a 31% compound annual growth rate, securing up to $5.5 billion.
And today we have Prasad Kompalli, CEO & Co-founder Mfine, which is acing this tailwind with an over 8x growth in users, and adding 250 hospitals to its platform, taking the total partner hospitals to over 550, in just the initial months of lockdown.
Mfine, which was started in 2017, is enabling doctors to diagnose more number of patients, with higher accuracy, thanks to its AI & ML integrations.
During the podcast, Prasad talks about their learnings of a customer’s journey on product, his view on the future of telemedicine in India and his advice to first-time entrepreneurs entering this sector.
Notes -
02:23 - Growing up in Vijayawada; Engineering background at family
10:06 - Key learnings from working at Myntra
13:59 - mfine thesis: Power of mobile & healthcare being a data-driven business
16:54 - Current Scale: Monthly transactions & Customer journey
18:36 - Early investments from Stellaris & Prime Venture Partners
29:42 - What worked: Primary care & Digitizing specialist care
32:39 - What didn’t work: You can’t inflate the demand
37:55 - Advice to first-time health care entrepreneur
46:34 - Being a Calm vs Aggressive startup CEO