A faster and more convenient payment system: Customers to only scan a QR code to avail cash-free services
Kenko, a leading health financing company, is proud to announce the launch of Kenko Pay, a revolutionary feature that is set to transform the way healthcare expenses are managed in India. This innovative solution allows Kenko subscribers to settle their medical bills cashlessly using their subscription benefits, eliminating the need for out-of-pocket spending.
Traditionally, individuals have had to pay for healthcare expenses upfront and then go through the arduous process of seeking reimbursement. This often led to delays, added paperwork, and uncertainty about receiving full reimbursement. With Kenko Pay, all these hassles are a thing of the past.
Here’s how Kenko Pay can be used for a cashless doctor consultation:
- With the Kenko app, subscribers can easily locate nearby healthcare facilities, such as pharmacies, clinics and diagnostic test centers
- Following a visit, subscribers simply scan the UPI QR code at the doctor’s clinic
- The consultation fee is automatically deducted from their Kenko benefit, with payment instantly received by the healthcare provider, just like a standard UPI transaction
- Subscribers can conveniently upload bills and prescriptions for future Kenko benefits
Kenko Pay leverages the UPI network, ensuring compatibility with any healthcare facility accepting UPI payments. During a transaction, Kenko employs cutting-edge AI technology, utilising the user’s GPS location, facility coordinates, and QR details to verify the transaction’s legitimacy and process the payment securely within 60 seconds. Post-transaction, machine learning models rapidly digitise user-uploaded bills, facilitating future use of Kenko benefits.
Currently, this feature is available at over 15,000 doctors’ offices across 16+ specialties in 500 cities in India.
Another groundbreaking feature introduced by Kenko is the ability for subscribers to add their family doctors to Kenko’s list in case they are not already on the network. On submitting doctor details through the app, Kenko’s dedicated team ensures that the doctor is listed within 24 hours, enhancing accessibility and convenience for subscribers. Thousands of doctors have already been requested by Kenko’s subscribers and the overall doctor count is expected to reach 50,000 by year end.
Future Functionalities and Expansion:
Post a doctor consultation, Kenko subscribers can walk into 100,000 pharmacies across India to pick up prescribed medicines by scanning UPI QR codes and settling bills cashlessly with their available Kenko app. Leading pharmacy chains are also integrating their billing systems with Kenko, providing a seamless over-the-counter payment experience where Kenko subscribers need to just share their registered phone number and OTP – an experience similar to paying via paytm wallet.
In the future, subscribers will also be able to use their benefits for ecommerce purchases related to healthcare expenses.
Aman Priyadarshi, Head of Product at Kenko Health, emphasized, “Our primary focus is to develop tech-driven solutions that effectively address the healthcare financing needs of Indians. Traditional health financing companies often fall short in prioritizing the customer experience, burdening individuals with a cumbersome claims process designed to combat fraud. With Kenko Pay, we’ve significantly enhanced the customer experience, making benefit utilization as simple as regular payments, all while reducing the risk of fraud to an unprecedented level within the industry. This starts an era in health care financing where claims are a thing of the past.”
He further highlighted that every Kenko Pay transaction generates valuable insights into usage patterns across India’s healthcare facilities, which have traditionally operated offline. This breakthrough paves the way for a healthcare revolution in India, enabling Kenko to not just help healthcare facilities increase business but also proactively identify and solve their working capital needs.”
Garima, a mother of two with a Kenko Forever subscription, shared her experience, stating, “Kenko has provided an incredibly seamless experience. Just last week, when my younger daughter needed to consult a dermatologist, I not only easily found a highly qualified doctor but also realised substantial savings of Rs. 3,500 on the doctor’s consultation, medications, and laboratory tests, all without any out-of-pocket expenses.”
In conclusion, the launch of Kenko Pay marks a significant milestone in the realm of healthcare financing. This innovative solution not only streamlines the customer experience but also redefines how Indians manage their healthcare expenses. With an expanding network of healthcare providers, pharmacies, and exciting future e-commerce capabilities, Kenko is at the forefront of transforming the healthcare landscape in India. This endeavor promises to make healthcare more accessible, cost-effective, and efficient for individuals across the nation.
About Kenko Health:
Kenko Health is a health financing company. With a focus on promoting interoperability within the healthcare system, Kenko is trying to improve the efficiency and effectiveness of the system and make it easier for individuals to access the care they need. It is redefining how products are designed and priced and working with industry players to create sustainable financing models for the $250bn+ OPD market, which needs to be addressed by traditional insurance companies. Kenko Health operates out of 40 cities across India, including Delhi, Mumbai, Bengaluru, Kolkata, Nagpur, Indore, Lucknow, Vijayawada, Kochi, Mangalore etc.
Kenko is a comprehensive healthcare app with a Kenko Store offering 1 Lakh+ non-prescription products. It features OPD coverage, digital convenience, a robust provider network, and daily healthcare services. With 300K+ customers and 200+ corporate partnerships, Kenko secured $12M in its Series A round led by Sequoia Capital India in February 2022, with participation from Beenext, Orios, 9Unicorns, and Waveform Ventures.
