Before reading, remember your last visit to a doctor, that Smell, patient queuing system, waiting rooms, etc. India is a country that has a dismal doctor-to-patient ratio.
Our country has one doctor for every 1700 people; if we consider only specialists, the ratio will be one doctor for every 5000 people.
There are 1000 primary healthcare cases & about 100 secondary healthcare cases reported in a hospital every day, and this number is rising along with the rise of chronic disease.
About Mfine
Mfine is a Digital Primary Healthcare platform that offers on-demand professional diagnostics and health check-up services. One can access these services from comfortable places like home, office, holiday places, schools, and mountains, where healthcare services are tricky.
The company was founded in 2017, and he defined the primary health sector with a different vision.
Their main focus is always on providing the best, reliable and hassle-free healthcare services at the fingertips to all.
To make this happen, they are taking the help of artificial intelligence. Using Mfine, one can quickly consult doctors online from their preferred hospitals via Video or Chat and get a health check anywhere.
About Founders, and how they start Mfine
The central brain behind Mfine was Ashutosh Lawania and Prasad Kompalli. They founded the company in December 2017. Later they were joined by Ajit Narayanan and Arjun Choudhary.
Let’s have the small introduction of all founders and founder members.
Prasad Kompalli (CEO & Co-founder)
Prasad Kompalli is a European School of Management and Technology (Berlin) alumnus.
He completed his post-graduation in business management IMD Switzerland and INSEAD France.
He holds 7 patents in data and mobile technology. He was one of the top 200 global leaders at SAP.
In SAP Labs, he held strategy and general management roles. He was CBO at Myntra also.
Ashutosh Lawania (Co-founder)
Ashutosh Lawania is studied at IIT Kanpur. He co-founded Myntra, and he has extensive experience in the field of consumer internet and technology.
Ashutosh Lawania has been an active angel investor in various internet technology start-ups.
Arjun Choudhary (CBO & Founding Member)
Arjun Choudhary is an IIT Roorkee alumnus. He leads the strategic business growth of the Mfine. In Myntra, he delivered 50x business growth during his tenure as a Senior Director, Growth and Sales. He also worked as a Global Capacity Planning Analyst at Amazon.
Ajit Narayanan (CTO & Founding Member)
Ajit Narayanan is an electronics engineer. He is driving product and technology for mfine.
His current research includes knowledge representation, virtual assistants, and explainable AI.
He has over 20 years of experience and holds expertise in creating products & e-commerce organizations building, healthcare, analytics, mobile, consumer internet, and Platform integration.
Business Model, how Mfine makes money
Mfine’s primary source of generating income is commissions from customer consultation, lead-generation fees from hospitals and corporate tie-ups. Except this, the company is also generating revenue through nominal consultation fees from their user.
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Funding and Investment
Mfine has raised a total of $97.6M in funding over 8 rounds, and their latest funding was raised $17.2 million in Series B.
Some lead Investors are SBI Investment, SBI Ven Capital, BEENEXT, Stellaris Venture Partners, Prime Venture Partners, Moore Strategic Ventures, Heritas Capital, Caretech Pte Inc, Alteria Capital, etc.
Future plans
The company plans to expand its hospital network across India. With Mfine services for the management of primary, secondary and chronic care, the company aims to be one of the largest hospitals in the world.
The company plans to bring 2500 doctors of top 250 hospitals from 10 cities on his virtual hospital platform in the coming few months.
In addition, they are planning to increase their investment in mobile engineering and hardware integration, artificial intelligence.
Achievements
More than a lakh customers have consulted on Mfine in the last 1.5 years. The company’s customer base is increasing month over month, and over 500 MD/MS doctors from across 100 hospitals are practicing on the company’s virtual platform.
As a result, Mfine has been able to expand its reach beyond the physical boundaries.
Currently, Mfine serves 800 towns in India. Mfine Patients are consulting for primary care and consulting super specialities services like cardiology, fertility, and oncology.
Conclusion
At the start of the article, we discussed the dismal ratio of doctors over Indian people. On the other hand, we have over 350 million smartphone users and falling prices of bandwidth. Mfine found the gap and filled it with their services and added value in living.
If you are planning for something new, anything could be a new blog, a YouTube channel, a Social Media influencer, etc. Just try to be stand out.
Find the Gap between need and availability. Bring an idea to add some value to day-to-day lifestyle and bang! Who knows, next will be the you on whom we will cover a story in our Inspirational story section. Till then, work on your dreams and keep visiting our website.
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