Combining healthcare, AI, and insurance expertise, MedPay is building the largest connected care network of healthcare providers to make unorganized, standalone OPD centers a part of the digital ecosystem. Understanding the challenge that clinics and pharmacies are not tech-enabled or digitally equipped, it is providing a technology layer for various partners to access the OPD network for hyperlocal services. Unlike other inventory-based e-commerce platforms, it works with standalone clinics, pharmacies, and diagnostics, enabling them to digitally transact with neighbourhood customers. This is also helping insured patients to avail cashless OPD services near them. In less than one year, MedPay has generated ₹46 million revenue for stand-alone OPD in MedPay Connected Care Network.
MedPay operates a 2-sided marketplace, enabling OPD centers to be part of the digital ecosystem on one side and partners such as insurers and B2C companies on the other side. The partners can access the MedPay connected care network for various hyperlocal services. The company has built an API layer on top of its connected care network and using these APIs, Partners can access the network for service fulfilments. For instance, insurance companies can use MedPay APIs to offer a large OPD network to the insured for cashless services. It is aggregating the demand from various partners and utilizing this network for service fulfilments, thus creating more value to the standalone centers. MedPay Connected Care Network consists of 57000+ OPD health centers present in 500+ cities across the country and aims to touch 100,000 centers in the next few months.
“In India, OPD comprises more than 70% of total healthcare delivery but the space is highly unorganized and is not a part of the digital ecosystem. This unorganized nature makes it difficult to innovate and offer tech-enabled services in OPD. Through building a connected care network, we are enabling our partners to access a large network of physical OPD centers using technology, thus benefiting everyone in the ecosystem. Additionally, due to the pandemic, many of the corporate employees have moved to tier 2 and 3 cities from metro locations and healthcare companies are still able to offer seamless OPD services to their users using our network,” said Mr. Ravi Chandra, CEO, MedPay.
About MedPay: Medpay is a technology company building an AI-powered platform that connects healthcare service providers like Doctors, Pharmacies, and Diagnostic centers to insurers. In short, it provides cashless OPD service to customers through Medpay. Their network is called MedPay Connected Care Network (CCN). MedPay Connected Care Network is spread through 500+ cities in India. Unlike other E-Commerce Platforms, MedPay works with stand-alone Clinics, Pharmacies, and Diagnostics enabling them to digitally transact with neighbourhood customers. It has processed an OPD Total payment volume of USD 3 million+ in one year.