VaidyaRx a health-tech startup launches a unique patient-centric mobile app offering patients, doctors and retail pharmacies, a first-of-its-kind platform that addresses prescription adherence and compliance issues.
Through actively engaging the patient and healthcare providers, it aims to streamline the patient-physician-pharmacy loop thereby generating value for all three stakeholders. With this unique service, they have projected upward of $2 billion in earnings in their 5-year financial projection apart from the transformational social impact that it will bring into the Indian healthcare system, the startup said.
India’s doctor: patient ratio is highly skewed and estimated at 1:834. This is only a part of the problem.
"Follow-up care after a patient is discharged from hospital is often neglected that play a critical role in patient recovery directly impacting healthcare outcome. Prescription compliance and adherence is also a rampant problem in India as most common people do not fully understand their prescription and diagnosis. VaidyaRx is addressing these problems by combining its digital innovation and the power of localized pharmacies and the existing provider ecosystems," it said.
Tarun Gupta, Founder and CEO of VaidyaRx says, “Our long-term vision is to empower patients with regards to their personal health, and gain control of their medical data, better educate about their diagnosis and prescription related issues. In addition, the local pharmacy stores can leverage our platform to engage with their customers and see sustainable increase in revenue and stay competitive. Patients can also place reviews and feedback about the services of pharmacies and doctors.”
Prakash Thakur, Cofounder & President of VaidyaRx envisions “We have large datasets available, and will leverage our artificial intelligence capabilities to gain further actionable insights, decipher multi-drug side effects, predictions and prognosis of various chronic diseases that are rampant in India. We are also looking to raise $2.5 million funding from the investors, to fuel our research & development and rolling out future product developments.”
First Published: IST