All Your Healthcare and medicines need are at your finger Tips.
It is truly said that “Health is Wealth”; as staying hale and hearty is the key to a fulfilling life. But how many of us have the right access to quick and suitable healthcare facilities, or can even buy medicines in times of an emergency? 1mg comes to the rescue and helps people to stay hale and heartly at the snap of your fingers.
The inception of 1mg in the Indian market has swerved the traditional healthcare mode with a digital approach. Being India’s largest health platform, 1mg caters to more than 5 million customers across cities such as Delhi, Chennai, Hyderabad, Bengaluru, Kolkata etc. Taking advantage of the rapidly growing technology, the company thrives to cater its customers with an array of healthcare services via the digital platform.
The concept of 1mg is based on the exceptionally designed micro services architecture that lets them assemble an integrated user profile by providing its customers with a complete healthcare experience, including diagnostics, doctors and pharmacy. Furthermore, making it easier and convenient for the end-users, 1mg ensures to broaden their customer’s awareness on the vast healthcare sector via professional and technological expertise.
Apart from having easy access to doctors and medicines, one can also save up to 80% on the medicine bills and get authentic, detailed information on various medicines, by certified pharmacists.
The Minds behind 1mg
The launch of 1mg in the Indian market was initiated by Prashant Tandon, the founder of the company. Born and raised in New Delhi, Prashant has attained his MBA degree from the Stanford Graduate School of Business and a degree from Indian Institute of Technology, Delhi (IIT-D). Before launching 1mg, Prashant was also the co-founder and managing director of HealthKart and has also worked at McKinsey & Company which is based in San Francisco.
On the other hand, Gaurav Agarwal is the Co-founder, CPO and CTO of 1mg. Earlier, Gaurav was the Business Head at Zynga, one of the renowned gaming companies. Gaurav has completed his B.Tech in computer science from IIT Delhi and was previously the CTO in HealthKart. Additionally, 1mg is run by a group of technologists, MBA graduates, doctors, pharmacists and various other specialists who hold an experience in not just healthcare, but also technology and management.
Prashant Tandon – Mind Behind 1mg
What makes the company extraordinary is the fact that some of the individuals at 1mg have previously launched their own startups. One such person is Vikas Chauhan, Co-founder of 1mg and also the founder of the local grocery business, Freshndaily, which was launched in 2010.
1mg, as a company has been recognized by the government of India as an m-health initiative for a consumer’s usage. The company is also recognized as the winner of the m-Billionth award for m-Health in South Asia, and has been ranked as the finalist in the e-health category at the Manthan Awards, Asia Pacific.
What makes 1mg a distinctive company?
Apart from catering its customers with complete healthcare services, 1mg also provides them with detailed, individual healthcare information and transaction services. The website further offers them information about various health topics, diagnostic tests and medicines along with numerous supporting features such as pregnancy alerts, interaction alerts, pill reminders etc.
Any patient can easily connect with licensed pharmacies and recognized diagnostic labs along with the feature of searching for suitably preferred doctors, appointment booking and online consultation. Not just this, the website also lets its customers buy various ayurveda and homeopathic medicines online.
Today, the company has gained thousands of customers who solely rely on the website for their healthcare needs. In addition, the company has gained acclamations from various reputed media companies, alongside an award, for launching the best mobile app in south Asia. Although the website is designed in a detailed manner, their mobile app also can be easily accessed with user friendly features. Following are the figures that were achieved in the year 2015.
Total Medicines searched in 2015 – 4 Crore
Total Substitutes searched in 2015 – 10 million
Total Cumulative time spent by users on 1mg – 144 man years (12 lakh hours)
One of the core aims for the launch of this service by its founders was to distribute real, authentic knowledge about the healthcare to their customers, which is very difficult to attain these days. Evidently, healthcare issues in India are seldom addressed in detail or appropriately. Challenging this situation, 1mg strives to empower the Indian customers with detailed healthcare knowledge and bring about a change in the Indian Healthcare market.
Doing this will further make the customers aware of the right and wrong and opt for better choices, thereby resulting in choosing optimum health plan. Over the years, a lot of customers have been either misled or have been extorted of huge amount for healthcare. This is where 1mg plays a major role in bridging the gap between the healthcare facilities and the consumers.
The Business Model of 1mg
The business model of 1mg consists of merged online transactions that help a user in terms of pharmacy, Ayush, doctors, labs and diagnostics. On the other hand, 1mg benefits by acquiring commission from their healthcare partners for getting them customers and profits. However, the company has also planned to introduce various other monetization models via advertisements.
Therefore, with the use of latest technology and professional expertise, 1mg ensures to deliver complicated healthcare services in a more simple and refined manner to its customers.