Seed stage impact investor Unitus Seed Fund has invested in Healthcare Marketplace MedyPal, on which consumers can quickly get quotes for medical procedures from different health service providers who bid for their business.
The startup will soon go live with healthcare service providers across South India, said Unitus which has made other investments as well in the healthcare segment. The healthcare services market in India will be a $100 bn market by 2015.
Currently, most people look for advice from friends and family to select services. “This is especially challenging for low income families who have less information, education, connections and financial reserves,” said Unitus.
Meanwhile, on the supply side, healthcare providers are looking to increase utilization of their facility & staff. Medypal bridges this gap. Commerzpoint, the company which runs Medypal, was founded by serial entrepreneurs P Rammohan and Brahmesh D Jain. The duo had co-founded Healthsprint Networks, a health insurance exchange.
Delhi based startup Medeel, launched in February 2013, one of the new entrants to the frugal medical startup scene in India, also offers similar services to consumers. Typically, revenues are generated from hospitals, that are willing to pay a commission on patients who come through the service provider.
Doctors and hospitals in states like Karnataka are not allowed to advertise their services either as the medical council doesn’t allow them to do so.
Last month, Unitus invested in affordable Eye screening starutp Welcare Health Systems and social marketplace GoCoop.