We live in a country where the healthcare industry is still far from being perfect. Patients in need of treatments and surgeries often have to face a large number of challenges. The absence of transparency in the pricing of healthcare packages and improper medical care are some of them. To address these issues, Mykare Health, a digital health startup from Kochi began its journey.
Spearheaded by co-founder Senu Sam, Mykare Health’s visionary ambition extends beyond the ordinary. Sam envisions creating India’s largest asset-light, affordable hospital network. By using the power of technology he aims to make healthcare services accessible and affordable to all.
The Inspiring Chapters, in this feature, is sharing the story of the creative startup Mykare Health which aims to reshape the healthcare industry in India.
Mykare Health – The Beginnings
Senu Sam’s decision to reshape the healthcare landscape for Indians was triggered because of one incident. When his 65-year-old father needed neuro-brain surgery, Sam faced the uphill battle of navigating healthcare in India’s smaller hospitals. The lack of information about the treating doctor, transparency in pricing, and post-surgical support left him grappling with uncertainty. He understood how unorganized is the healthcare industry in India. This triggered the foundation of Mykare Health.
Senu Sam worked in premium hospitals like Apollo and Gleneagles Global for over 12 years. This helped him understand the problems that patients face when they want the best treatments at affordable prices. However, there always remained a few gaps in the healthcare industry.
Sam, alongside Rahmathulla TM and Joash Philipose, recognized the pressing need to bridge these gaps. Small and medium-sized hospitals cater to a significant portion of India’s healthcare needs. However, they often struggle to provide quality care due to financial constraints. These hospitals must exist as they offer affordable medical services. And, this has been highlighted by the Indian Medical Association itself. And, this has been highlighted by the Indian Medical Association itself.
The common vision of all 3 of them led to the inception of Mykare Health in 2021. From the very beginning, they concentrated on a patient-first approach. The startup wanted to tackle every pain point of the healthcare journey.
The Competitive Edge of Mykare Health
Mykare Health follows a detailed framework. It starts from researching and paneling specialist doctors to providing zero-cost EMI options and end-to-end operational support. The startup’s core focus is on elective surgeries across various disciplines. They include orthopedic and vascular care, urology, proctology, laparoscopic procedures, and cosmetic surgery.
Mykare Health makes things easier for patients. They show clear prices, help with insurance, give free rides, let patients talk to doctors, and support them after the treatment. These initiatives also benefit smaller healthcare facilities to a large extent.
Mykare Health is not just changing things in the Indian healthcare industry – it’s doing much more. With a team of over 20 trained counselors and 800 senior doctors, the startup has already counseled over 85,000 patients. They are really dedicated to making healthcare easy to get. Their platform works smoothly, making it easy for patients and hospitals to use. Mykare Health wants to go further and create a big network of hospitals in India that are affordable and of good quality. It’s like a safe place for middle-class people to get good care.
The Growth Story and Future Vision of Mykare Health
Within a very short span from its inception, Mykare Health’s impact has been profound. Right now, Mykare Health operates in 12 cities, including Kochi, Thiruvananthapuram, Chennai, Bengaluru, Coimbatore, Pune, Madurai, Hyderabad, and Vishakhapatnam. They have a growing group of over 100 hospitals and more than 4,500 beds.
The startup works together with small and medium-sized hospitals and skilled surgeons. This teamwork helps patients save money – around 20-30%. It is also making healthcare infrastructure better by being transparent and maintaining good quality. Mykare Health is now growing and expanding to more cities in South India.
Mykare Health’s commitment to quality and accessibility is further exemplified by its partnership with 10+ NBFCs and fintech platforms, offering a variety of medical loans to assist users.
Mykare Health Funding
In June 2023, Mykare Health got $2.01 million in seed funding from renowned investors. This is helping them to make patients’ experiences better and grow their work. With an asset-light model, they are uplifting small and medium hospitals. Mykare Health is all set to make things better for patients and spread good changes.
Amidst a crowded market of healthcare startups in India, Mykare Health stands out through its stringent vetting process for onboarding specialist doctors and hospitals. Mykare Health aims to make healthcare better and faster by optimizing existing resources. They don’t want patients to wait for too long to get the right care.
As Mykare Health navigates uncharted territories, it embodies the essence of true progress – where a vision to heal and uplift becomes a reality for countless lives!
