The company that I have chosen is Practo (a simple website
which helps provide end to end communication between the user and lakhs of
doctors). Firstly I analysed the company and then wrote a success story on the
same and then after further analysis I understood the reasons why and how did
PRACTO become so successful in such a short period of time.
Practo was started by Shashank ND in early 2008’s when he realized that the Indian society had a major
gap which needed to be fulfilled. His father had fallen severely ill and all
Shashank wanted was a simple 2nd opinion on his father’s condition
from a renowned doctor all the way from America. Because of lack of simple resources
he was unable to secure a connection between himself and the doctor hence along
with his friend Abhinav he decided to solve this. 10 years ago two twenty
something engineering graduates decided to go against the world by not taking
up regular jobs and choosing mainstream jobs but creating their own company to
help india get better health care easily. The company was founded in Bangalore
and because of the ideas uniqueness received a funding of around 4 million
dollars in the first round of fund allotment in july 2012 and is planning to
raise another round of funding in series B.
Practo initially helped
establish seamless connection between the doctor and the patient however now
with the immense growth of the company practo deals in everything healthcare
from health insurances to providing appointments to online consultations to
managing customer medical details including bills, x-rays online in their
secure servers. This startup succeeded because of the sheer passion in their
founders to build something important. Their objective, pace was excellent and
with the huge customer demand success soon followed.
Soon after initially opening
up in Bangalore they started spreading to many other states knowing fully well
that this was the right time for expansion. Also sensing the growing number of
internet users were mobile users who performed minimal recharges, the team of
Practo released their first version of the Practo (android) app which was
pretty space and data usage efficient which only got better with time. Later
the IOS version of the same was also released. To increase their customer base
they started instant conformed appointment bookings with doctors. The next step
for them was to procure funds to move to other countries. Just recently they
shifted to latin America making their presence known in 5 countries with consumer
and software business and 10 additional countries with enterprise software
Also the efficient method of
dealing with grievances helps instill a sense of comfort in customers and thus
increasing their reach by good ratings and good word of mouth increasing their
Shashank says the roadmap of
Practo has been a rocky one but now with around 50 million monthly appointments
and 200,000 healtcare providers and using a sustained marketing campaign we
will be ensuring that we reach out to as many patients as possible through all
possible media. This would help increase awareness among patients and also help
the healthcare ecosystem.
Reasons for PRACTO’s Success:
Market (Customer) need: The product was something which people didn’t realize was an important
necessity until it was made.
No Competition: During the startup days, this company had NO competition at all because
this was a brand new idea.
Customer Satisfaction: From the start their main aim was to see to it that the people are
happy. This is ensured by their award winning customer service which is
available either online or through call centers.
Basic features like doctor information is free of cost and payment is only
required for actual booking of appointments.
Apt marketing: From the beginning they knew what was right to be done, from door to
door marketing to now advertisement done by a US based company, the Practo team
has taken all the right initiatives.
Focus, Motivation, passion, commitment: The Practo team was focused on not earning money but
rather were motivated by helping the people and feeling a gap in society.
Great domain specific knowledge: Being CS engineers both the co-founders had great
knowledge of all technical things, from website development to app development.
This helped them have a steady idea on how to proceed further.
Willing to adapt: The practo team initially just wanted to set up doctor consumer
interaction but later seeing the demand in the market decided on adding additional
features (like storing patient records)
Fundraising Skills: The founder of Practo believes that you should always have a 30 second
pitch ready so that you never miss an opportunity.