The estimated worth of the Indian diagnostic sector is about $10 billion (2021 figures) and a CAGR of 14% at present. Although diagnostic services contribute to about <5% of the overall healthcare industry, their critical nature can be accessed from the fact that the remaining 95% of expenditures are based on the results obtained.
It was deduced from a recent study that there is 1 diagnostic lab per Ten thousand people by the most optimistic estimate in rural and semi-urban areas. 74% of existing labs are primarily concentrated in urban areas and hospitals, leaving vast swathes of rural India uncovered.
Of the nearly 1.1 lakh medical laboratories in the country, whose test reports determine over 70 percent of medical decisions, just about 1,039 are accredited.
Dr. Arpit Jayswal is the Founder and CEO of PhleboIndia a Gurugram-based startup. PhleboIndia is an online aggregator platform that connects labs and patients by providing a time-bound solution for the home collection of all lab test samples from anywhere and at any time to the patient’s preferred lab. PhleboIndia has collected 500+ samples in Vadodara alone and has an overall network of 500+ partner labs.
Product offerings of PhleboIndia
Dr. Arpit Jayswal says, “The Diagnostic market in India is totally fragmented and unorganized. Being a doctor and medical professional in healthcare for 8-10 years, diagnostic tests at OPD and home sample collection are very important. So, we have come up with technology-based facilities at the doorstep by going to the laboratory which might be a hassle. Lab tests may cause a waste of time due to long waiting queues.
Just like there is the presence of swiggy and zomato for the food system, we should be organized for the diagnostic market as well. We started this 4 months back and went to live in Vadodara along with Gurgaon, Indore, Bhopal, Surat, and Hyderabad. We are currently in 7 cities in India and planning to cover 100 cities in India within 3 years. We are aiming to provide standardized time-bound diagnostic services from labs. Being an aggregator of labs, we are giving the option for patients to choose the lab which is the top priority. Some patients prefer their lab tests to get done from well-known familiar labs to them. So, we are just supplying end-to-end supply chain logistics solutions through which the patients get services from their lab at their doorstep within 60 mins of booking it.
Why Choose PhleboIndia Labs? USP of PhleboIndia Labs
Dr. Arpit Jayswal says, “There are many other digital platforms that also provide home sample collection services.”
Lab as per choice
The major difference is that we are empowering the local labs by giving options to patients to choose the lab as compared to other digital platforms. While with other labs you need to choose their labs. We have data from more than 1000+ labs at present from which you get the freedom to choose their labs.
Widespread reach across India
We are onboarding all the labs in cities. Each city has more than 200+ labs available on our platform. This includes national and local labs.
Mobile application to choose labs
We do have a mobile application for ISO to choose the labs for their choice. One can access all the labs available in the city through a mobile app.
Lab availability in all cities across the country
Other platforms for home sample collection have labs available only in tier 1 cities. If patients book lab tests from tier 1 and tier 2 cities, their samples travel through thousands of km in tier 1 cities which raises the question of quality. Cold chain logistics is very important in the case of blood tests and routine tests. Out of 100, 85% are routine tests like thyroid tests, diabetes, and CBC. For these, travel time is a big issue technically.
Strict TAT (Turn Around Time)
We are very strict with TAT for blood sample tests. For example, for the diabetes test, the TAT is 2 hours, so we provide a report in 2 hours only. The patient sample is focused on traveling to local labs with our platform, so this saves time.
PhleboIndia focussed on Prescriptive Testing
Less than 5% of people are focussed on full body checkups. In PhleboIndia, we are providing prescriptive testing. This means patients who have received prescriptions from doctors are majorly applicable. We also prescribe health checkups. But, we are more into prescriptive testing rather than preventive testing.
PhleboIndia is purely dedicated to lab testing
Other platforms provide doctor consultations and sell wellness products and pharmacies. We are purely dedicated to lab testing and home sample collection services. So, we provide the best quality in a time-bound and standardized manner.”
Lives touched so far by PhleboIndia
Dr. Arpit Jayswal informs, “We have crossed more than 5000+ patients.”
Funding for PhleboIndia
Dr. Arpit Jayswal states, “PhleboIndia is bootstrapped at present.”
Revenues for FY 2022 -2023
Dr. Arpit Jayswal informs, “We have started 4 months back and operational for 2 months. We have generated a revenue of 25 lacs in 2 months. Our planning for the year 2023 by December would be targeted at 1.25 cr.“
Expansion plans and goals
Dr. Arpit Jayswal says, “We are planning to reach 25-30 cities in the next 10 months along with more than 7500+ labs onboard. We are aiming for expansion globally in tier 1, tier 2, and tier 3 cities for home testing services. People are more health conscious and everyone wants things at their doorstep. We are trying to get diagnostic tests in an organized manner with technology and automation.”
Lab diagnostic test for rural areas
Dr. Arpit Jayswal says, “In the last 1-2 years, the government has started towards the NABL accreditation for all diagnostic centers. We have criteria listed on board that the lab should be accredited and run by a pathologist. There should be quality control for blood-related reports. In the next 5 years, with PhleboIndia, we are planning to standardize all labs on our platform.”
Piece of learning
Dr. Arpit Jayswal says, “Being an entrepreneur, it's all about working hard. One has to be dedicated to concept, goal, and idea. Solving the problems of the people of the country is definitely going to work. In the last 2 years, as per govt data, there are more than 65000 startups in India. People are more aware and come up with ideas, and concepts to achieve success. Doing hard work with dedication toward ideas is a key point to success.
Edited By: Dr. Rati Parwani
Contributed By: Dr. Arpit Jayswal, Founder & CEO, PhleboIndia