Shreyans Mehta is the co-founder of MedCords, which aims to solve the problems of accessibility, affordability, and quality of healthcare in India. Shreyans and his friends Nikhil Baheti and Saida Dhanavath started MedCords with its subsets Sehat Sathi and Aayu. He was also the co-founder and CMO of IndiaRead.com.
Shreyans begins, “When we started MedCords, we aimed to felicitate and serve the people of Bharat in the most efficient, affordable, and trusted manner. Before starting MedCords, we traveled across four states i.e Rajasthan, UP, MP, and Bihar to find out the major healthcare challenges in India. And then we realized that if we want to solve the problem of healthcare, we need to leverage the network of medical stores because they are a great influencer to patients in smaller cities. We are India's first completely physital healthcare network that can provide instant consultation in less than 30 minutes and deliver medicine to your home in less than an hour because of the hyperlocal network of doctors and medical stores which we have created.”
Shreyans describes, “We have 3 apps
- Aayu app for the consumer – Health management app – Family health history, book consultation, order medicine from nearby medical stores, book lab test, symptoms assessment, and doctor’s video
- App for medical stores – Growth ka super app, Make physical medical store digital and online, Complete CRM, better customer relationship management and procurement. These medical stores act as Digital Healthcare centers for rural areas. We have empowered rural retail medical stores with technology and they can empower their villagers with the best consultations and quick delivery of medicine.
- Web app for doctors
Empowering Medical store
When asked about the competition present in the market, Shreyans Says, “I don't believe in competition. We are solving such a big problem via the medical store. Their reach is unparalleled. Our focus is on India minus the top 10 cities. We have seen that the local medical store is always there for your needs. Medical stores are the first point of contact for healthcare whom we are digitally transforming thereby enhancing the healthcare experience of the consumer using the power of local medical stores.”
Shreyans informs, “We have a customer base of 3.5 million families who are using our Aayu app. Apart from this, we have 40,000+ medical stores. We are strongly rooted in Rajasthan where 30% of the medical store is working with us. We are also expanding to nearby areas like Delhi NCR, UP, Bihar, MP, and Maharashtra. The retail medical stores are also empowering themselves with E-pharmacies. They can serve people in their vicinity much faster than anyone else.”
Funds and utilization
Shreyans mentions, “We have raised approx. 5 million dollars. With these funds, we have built a huge network of medical stores and doctors. Medical stores look after all the logistics and delivery. Through these medical stores, we are able to deliver 3.3 lacs order/month = 12 crores/month. 90% of these orders are delivered in less than 60 minutes. Thus, MedCords can deliver superfast services in the healthcare industry to the consumers of Bharat.”
“Since the retail medical store is also a businessman, he tries his level best to keep his customer happy and sticky. Faster returns, quicker delivery, and an automatic reminder of medicine are some of the tricks that bind their customers. On average, a customer is using our app 5 times a month. We have seen a trend that people in smaller cities bond with convenience and quicker delivery than discounts.”
Shreyans concludes, “We are planning to expand to 10 states in the next 18 months. Our target is 150K + medical stores across Bharat. Our first target is to cover the Hindi-speaking states and then east and west. We have created the barrier of ordering low.”
(Edited by Renu Gupta)