Healthtech SaaS startup HealthPlix raised $22 million in a mix of equity and debt funding in its Series C led by Avataar Venture Partners and SIG Venture Capital where existing investors including Lightspeed Venture Partners, JSW Ventures, Kalaari Capital and Chiratae Ventures also participated.
Doctors can use HealthPlix to create a complete medical profile for their patients, which will help them during follow-up consultations. HealthPlix will use 80% of its new funds to expand its doctor base and invest more in its sales, product, and engineering teams. The remainder will go towards clinical decision support, which will help doctors treat patients more effectively. HealthPlix is also looking into a few business models in the insurance and payer spaces.
The platform is aimed at doctors who run their own clinics and are looking for technological solutions to improve their efficiency. HealthPlix also uses AI to help doctors write prescriptions faster while also keeping track of patient history and consultations.
According to Chaitanya Raju, executive director, HealthPlix allows doctors to write long prescriptions with a few clicks rather than writing them themselves. The platform also allows doctors to translate prescriptions into a language that the patient understands.
HealthPlix also provides doctors with access to collective intelligence to help them understand a few characteristics such as what diseases are surfacing in which areas and what treatment regimens are being used by various patients and doctors.
According to the startup, it has over 10,000 doctors on board who treat 2.5% of the country’s population with its proprietary software. Gudibanda stated that HealthPlix’s goal is to reach 25,000 doctors by 2024 and 50,000 by 2025, treating nearly 15% of India’s population, or approximately 21.11 million people.
Gudibanda also stated that HealthPlix sees approximately 110,000 patients per day and has facilitated over 70 million consultations to date. According to a report healthcare SaaS is set to become a $3.5 billion market opportunity by 2025, growing at a three-year compounded annual growth rate (CAGR) of 45%.
