Practo is a Software as a service(SaaS) tool.It is an internet based service to schedule appointment with doctor. With the help of practo you can search for doctors based on specialty and location, doctor name or clinic name. You can also search based on the area inside the city, availability, timings and consultation fee. After finding the right doctor for yourself you can directly schedule an appointment from the app.
Practo connects its users with all the necessary things they need to take care of themselves and their family for example assessing health issues, finding the right doctor, booking diagnostic tests, obtaining medicines, storing health records or learning new ways to live healthier.
Founders Of Practo:
Practo was founded by Shashank ND and Abhinav Lal. Both Shashank and Abhinav were last year student in NIT Karnataka when they started working on the project in 2008. They both were studying computer engineering at NIT Karnataka.
The idea came across when Shashank’s father needed a knee surgery and they finalized a specialist in US. The Doctor wanted to check all the medical records of the patient before giving any of his opinion. But there was no easy and secure way to get all the reports and prescription across and then send to Doctor in US.
This Incident triggered the idea of practo. Shashank discussed it with Abhinav who is computer expert and both worked on the idea.
Shashank also believe that there should be a common platform where patients can write a review of doctor which can be helpful for other patients.Practo made feedback system and attempts to collect the most helpful and reliable feedback from patients.
What is Procto Ray:
Practo Ray is a tool made for doctors and sold to them on an annual contract basis. This tool helps doctors to manage the patient’s health record, the billing and the clinic.
Procto Funding and Procto Revenue:
Practo has raised around 124 million dollar and is using the money raised to make health records easier to access for doctors, and for patients it is making doctors available on the mobile app. Big investment companies like Yuri Milner, Google Capital and Sequoia Capital are backing the Practo to expand its business in selling hospital information management services.
Practo Business Model:
Practo make revenue from two sources.
- The first source is premium listing. The first listing showed on a search is sponsored listing and the doctors, clinics and hospitals have to pay for the listing price to keep them on the top. The same model is used by Zomato for restaurant businesses.
- Second source of revenue is Procto’s tool for doctor called Procto ray. It is a tool made for doctors and sold to them on an annual contract basis.
Practo is a powerful medium that serves a patient by finding required doctor and booking an appointment and a doctor by giving him/her a platform to manage their patients and practice. It offers hassle-free scheduling at all hours and everyday access to reports and records.Practo Search has the distinction of being Asia’s number one search engine that helps in finding the right and best doctor. More than 1.5 million users search through 120,000 doctors and make 120,000 appointments through this portal on monthly basis.