The Indian diagnostics market has never had it so well, and if the trends are any indication, then we are going to have catalytic growth in this industry segment. Affordable quality diagnostics for all and especially in semi-urban and rural areas will drive India’s vision of ‘Swasth Bharat, Shrestha Bharat’.
As per the IBEF report, the Healthcare market in India is expected to reach US$ 372 billion by 2022, driven by rising income, better health awareness, lifestyle diseases, and increasing access to insurance. In the Economic Survey of 2022, India’s public expenditure on healthcare stood at 2.1% of GDP in 2021-22 against 1.8% in 2020-21.
Rupam Das is the Founder and CEO of Acculi Labs Pvt. Ltd. Acculi Labs brings down complex pathology tests to the pocket of clinicians and patients by replacing complexity with the help of mathematics and algorithms.
Products and service offerings of Acculi Labs Pvt. Ltd
Rupam Das says, ”Acculi Labs is a very simple company. Our tagline is we don't misguide patients. And that's a one-line statement. Now, what does that mean by not misguiding? We provide a complete light solution to people. At a time, when healthcare talks about diseases, diagnosis and then people treat you so they give them medicine for a diagnosed condition.
Our theology is that there is no such thing called disease. Life is all about anomalies. And life is all about living with those anomalies. So we diagnose the things that could be improved in life. There is the reason for changing the perspective from identifying the disease to looking at our life as a whole, through machine intelligence, human intelligence, observation, and a very detailed oriented system. We give back life to people.
Just to give you an example of what we do, I'll share a short story. There's a small seven-year-old girl who never could stand up and who could never speak since birth she's an autistic child. Her parents consulted many doctors and had lost hope. They were with us for three months. And now for the first time, she is with us and she spoke “Maa” after seven years. People who are already frustrated or people who have lost hope in something, the most complex cases, come to us for a respite because most of them give up all the time thinking about the disease and everybody just talks about the disease. So we diagnose what better could be done in their life. And we give back give that person a new life.”
USP of Acculi Labs Pvt Ltd
Rupam Das informs, “We are not really a preventive healthcare company. In fact, we are one of the toughest you call the serious healthcare companies out there at this time. Our patient rating is more than 96% which is a miracle in healthcare almost 92% of the patients leave us to never come back.
We are not really into preventive health care. We deal with serious cases which are recurrent like piles, hypertension, and allergy. We take all these complex cases. We serve them. We identify the root causes. We identify each and every dimension of the life, then we provide the treatment as well as rehabilitation, which means back into their lives. So our unique value proposition is people.
So other than the technologies that we have built. In fact, here we are right now world number one in some of the keywords such as online mental health test, and female test. We provide a comprehensive set of tools to our own men, to take care of them to test their own health, emotional health and menstruation health, etc. But barring that, what nobody can compete with is our value system. For example, you don't take cuts from the farmers, or references, which you call the excess medication. Our rate of medication per prescription is only 0.63. Whereas the Indian standard is about 2.83. We reduce the medicine of people from their life. So that's our USP. So, we minimize the part of the disease and medicines cost.
Clients have benefited from Acculi Labs Pvt. Ltd
Rupam Das states, “The numbers are very difficult to state in the medium. We generally handle about 15 to 35 cases every month which are very complex cases, like cancer or cardiac cases. So, a case is about 15 to 35 every month, and we work with the families and their extended families. We are into a kind of premium segment. There is a general segment which is called Public Health and this is totally free for everybody i.e. each and every citizen of the Global Citizen. We have built several online tools. So you can go and check your own health, liver, kidney, anything without any blood test. There are set of instructions. Just follow the instructions and we don't charge money for that. We serve about 500 patients freely every month through that. This is the number but we hope to provide services to about 10,000 daily patients two years down the line.”
Utilization of funds for Acculi Labs Pvt. Ltd
Rupam Das says, “Acculi Labs has innovated in the domain and I would like to share with you that we have also innovated a financial instrument called PIO, Public Angel Investment offer through which we raised about 1.3 crore rupees from 114 investors. So starting from the delivery person, our tea delivery to a housemate, everybody's an investor in the Acculi Labs. So that company is now being formed.
The objective is to promote sustainable businesses, and ethical businesses rather than just promoting the scalable business because anything that quickly skills is just cancer and virus. Any normal growth, for example, or a dog's baby, it grows in 7-10 days, a human baby takes about 3 years to at least start speaking. So we realize that the startup ecosystem is not going the way that it should go. And there is very minimum participation. So we created a platform for fundraising also. And not only that, we are right now raising funds for another three companies. So there are about 400 investors who have got associated so it's an RBI NMC-approved instrument. So we made a change over there.”
Revenues in FY22 and at the end of FY23 for Acculi Labs Pvt. Ltd
Rupam Das informs, ”Our target is to recover irrecoverable cases by a factor of one case daily. We evaluate our success with the number of lives saved rather than the number of money being made because we make a lot of revenue from research and the other base.
For us, healthcare is kind of a religion, which is a social responsibility. So whatever revenue that comes from the businesses, obviously, if you measure the number of cases, you can estimate it. But if you can save 365 lives that have been given up by the conventional healthcare, and if we do that one case, or daily, that's the ultimate target that we have, besides serving this 10,000 people every day, over a period of the next two years time.
So when we serve 10,000 people, obviously there will be some cross that would be coming in, but revenue would always be an add-on inaccurately lapse principle. We are not really because a lot of principles are based on not misguiding people, so for example, if a patient comes and we refer them for a blood test, any other company or hospital would make money, but we don't make that money. That's why we do not suggest too many tests and medicines. So by keeping the revenue aside, our duty is most important. So, our revenue would be one life daily.”
When you look into a mother's eyes, whose 7-year-old girl was crawling even in puberty, and when parents see their daughter stand up, that emotion cannot be described in the words. This emotion cannot be described in the years business is for money, but business is for people also. So if you serve people, you serve the economy, then you anyways earn money. Now, the value of the system or business should be known to what impact you are creating in people's life. Can you be replaceable? Can that girl be made to stand up by anybody else? No. So we want to do such miracles which they call one every day. And that should be a good number for the viewers to judge.”
Goals and future expansion plans for Acculi Labs Pvt. Ltd
Rupam Das states, “We provide services to the entire globe. 30% of our patients are from the US. About 15% of our patients are from the UK it's global, and because of the kind of people we serve, they have been rejected by the Global Healthcare System. Alright. So it's not only an Indian mother's problem, an autistic child is a problem for a lot of mothers.
A girl who is going into an extreme amount of mood swings and not having regular menstruation and she's on OCPs. It's not just limited to India, it's a global problem. So you have to ask the question of whether your priority is going to be a billion-dollar company, or you are going to stand for the sole men who are not able to get back their life and make at least 1000 such women become mothers. So it's a global audience. The expansion will happen organically. It's almost like a moment so good, that people will get connected, and they will take this moment forward. And these 2027 we're planning for IPO. So I hope the numbers reach them.”
Advice for young entrepreneurs
Rupam Das says, “I can share some wisdom from my life is that life is all about people. If you have people, your life is sorted. If you have somebody to love you, respect, and talk to you, life is sorted. Life is not all about numbers, excel sheets, AI, and ML. 18 million years ago, irrespective of what the industry says, if a person really goes deep down and does everything of his own to start with, don't think about the scalability and fundraising.
India is a great country where people stand by you. So, once you get back into the ground and solve somebody's problem, it's not the product, which matters, it's your human attitude, how much humanity and humility and human values you can adapt to because there'll be a lot of people who will stand by you, you have to suffer a lot of people, if you can just still startup, any business or any responsibility is a responsibility towards people, then I can assure you that there is no such thing called failure, there is no such thing called losses, people will not need a lot of money and whatever money they need, of course, our private investors are always there for the founders who are serving people.”
He further says, “It's about the emotions you see. With more money, you can buy more food, but the more food you eat, you will have liver disease, but with more value, you will get better sleep and sleep. You can buy no medicine that can give you the sleep.”
Edited By: Dr.Rati Parwani
Contributed By: Rupam Das, Founder & CEO of Acculi Labs Pvt. Ltd