A hyperlocal healthcare startup — Medzin, aims to change the way the healthcare products and services delivered in India. It is making everything accessible and affordable to the users with changing traditional methods.
Over the time the contribution of technology has been increased in the healthcare industry and a number of startups are coming up in this segment with their innovative ideas. They are disrupting the healthcare segment by changing the ways of hospital management and delivery of health care services. The New Delhi based MedZin has been opened a new doorway in this segment through launching a mobile app for making healthcare purchases painless for everyone. Simply, it has become a one stop solution for healthcare assistance with bringing accessible and affordable health care to one and all.
The Brains That Came Up With This Great Idea
Medzin is a brainchild of Vishnu V Shankar, CEO (Lingayas University), Suyash Mohan, CTO (Maharshi Dayanand University), Madhav Shankar, COO (Mahatma Gandhi University) and Raghav Sarda, CFO (University of Nottingham) who came from different backgrounds with different expertise. All these four enthusiastically started this business as they all were troubled by the common problem of overpriced healthcare services and unavailability of medicines. This problem aggravated to start working on this idea jointly and from that time there was no turning for all of them. The final idea of Medzin came into force after months of deliberation, rigorous ideation, and a strong market study under the Medhealix Health Tech Pvt. Ltd.. They researched extensively the healthcare segment and key problems like purchasing, availability, affordability etc.
A Proven Business Model
MedZin works as a local health aggregator that connects users directly to the doctors, health experts and all other service providers of nearby areas online. Started in the end of 2015, MedZin is presently operational in New Delhi and will soon be available in Bengaluru & Hydearabad to make the healthcare purchases easy. This is a fast growing healthtech startup that claims fastest delivery of health care services directly at users’ doorstep. Users can buy medicines and daily supplements as per their convenience online. They can book appointments with the doctors in their locality with no hassle. They can also get daily supplement delivery according to the doctor’s recommendations. Vishnu V Shankar, CEO, mission shared, “We have deigned the layout of MedZin in a way that it allows users to find out information easily about their recommendations. In addition, it also makes online appointments easy with the doctors from across city.”
MedZin operates on both iOS & Android platforms. It caters reliable and verified healthcare solutions to make “ON-TIME DELIVERY” within just 120 minutes possible after the validation of a prescription and order confirmation. This platform has integrated different health care services like medicine delivery, pharmacy, labs, doctors appointments and a lot others on a single platform.
Targeting A High Potential Market
Healthcare is an area that has immense potential. It is an massively gratifying industry either from growth perspective as well as from sustaining an entrepreneur who is serving in this segment. As per a market analysis report from India Brand Equity Foundation, the Indian healthcare industry is being a $100 billion USD market currently and expected to grow to $280 billion USD by 2020. Madhav Shankar, COO said, “As the market is huge and we are very much confident about ourselves. Nothing can stop us and soon we will be expanding in other metro cities including Mumbai and Bangalore apart from adding products and services.”
Raised Seed Funding on Idea Successfully
It has raised a seed funding of around 100K USD from investors, namely, A M Sikander and Haridas T, who shows faith in Medizin business model and its perseverance. The raised funds was utilized majorly for Product development, promotion, initial marketing & operations expansion to gain traction.
The MedZin is also concerned about the quality diagnostic tests and have been taken care of many other things. It is adding more features to bring a plethora of offerings to both the vendors and customers. The founders team confirmed, “We have extended our domain in different areas and designing a customized application for our partnered labs and doctors so that the users do not feel deprived of quality and affordable services.” Moreover, an ongoing inventory tapping system gives them a competitive edge over others in the market. This in how in such a short span of time we have endeavored half of our journey by creating our own USP. Further, it is planning to expand into the big data analytics, advanced inventory management system with new technology features.