The globe has become smaller as a result of several technological advances and discoveries. Online services are increasing in any industry. The healthcare business has also succumbed to the need for online services. In today’s globe, the Practo business model is one of the most popular models used in the online healthcare industry.
After the outbreak of COVID-19, online medical consultation has grown in popularity at a rapid rate. The global mHealth apps market size is projected to grow from USD 80.87 billion in 2023 to USD 861.40 billion by 2030, exhibiting a CAGR of 40.2% during the forecast period.
Next in line were teleconsultations related to ENT and orthopedic issues with an increase of 600% and 400% respectively.
Practo is India’s first appointment scheduling system for telemedicine. It was created in 2008 by a group of young entrepreneurs. Due to its creative user interface and improvements in arranging appointments via mobile applications or the Internet, it has been a tremendous success.
People can schedule hassle-free appointments for various diagnostic tests as well as seek rapid consultation with recognized and certified doctors from the comfort of their own homes. Let’s thoroughly learn about Practo business model and associated concepts.
Launched in 2008, Practo is an Indian-based online healthcare company founded by Shashank ND and Abhinav Lal. Their mission is to provide quality healthcare affordable and accessible on a global scale.
Some other important facts about Practo include:
Practo bridges the gap between doctors or health professionals and patients. They offer seamless services to customers by providing amazing features. It includes book appointments, online consultations, medicine delivery, diagnostic Tests through Practo Associate Labs, and more. Additionally, they offer plus, subscription-based health plans.
Practo has provided easy access to patients to manage multiple functions in a hassle-free manner. Following, we’ve discussed Practo’s work. Let’s learn:
Unlike traditional consultation, Practo asks the patients about the problems they are facing. Once the patient answers those questions, Practo analyzes the symptoms and based on that recommends the doctors.
Practo provides a list of doctors to patients. These doctors are highly reputed and skilled and are available for online consultations. The user then can select the doctor and make the payment. And the consultation process starts.
With the help of this amazing feature, users can look up for the best doctors available in their locality. For instance, if you’re looking for a Pediatrician, Practo will show you the best doctors and their clinics available in your area.
Users can order medicine at their doorstep without any hassle. All they need to do is to upload a valid prescription.
When creating and building an appointment booking software like Practo, you must pay close attention to several criteria. And the most significant ones are:
To build and construct a successful appointment app, it is critical to first identify the basic personality qualities of the target audience. While developing the app, developers must keep local traditions and other geographical characteristics in mind.
For example, in a few nations, multilingual applications are receiving more answers due to people’s inclination to communicate in their local language.
Don’t let complexity derail your user experience. Even if you create something valuable, consumers will lose interest if they confront a difficult layout or navigation to progress.
As a result, try to create basic yet remarkable software to provide a seamless and enjoyable user experience.
In today’s economy, data privacy is becoming a need to remain competitive. To protect patients’ important health information, developers must provide an additional degree of protection. To secure data security, use cloud development.
The practo business model of an organization is considered a conceptual framework that supports the viability of a product or an organization. It shows how the business works, how it generates income, and how it is progressing to meet its objectives.
Therefore, the practo business model contains the processes and guidelines that the organization adopts and follows.
Now let’s analyze in detail the characteristics of Practo’s textile business model mentioned above.
Practo business model has numerous enterprise devices and every unit has sure values that can be furnished to its participants. It gives several unique price propositions to its diverse stakeholders namely, patients, doctors, hospitals, clinics, etc. with the goods and offerings below.
For Medical Professionals and Clinics:
Practo’s distinctive goods and services for doctors and clinicians are as follows.
Apart from the devices mentioned above, namely Practo Prime and Practo Reach, the Practo portfolio includes unique products placed in hospitals.
Practo has a sizable clientele, which includes:
Integrated Laboratories: Prato’s partner’s inpatient clinical trials include various medical or diagnostic laboratory standards in the industry.
Customers may access their health concerns, talk with a doctor online, purchase prescriptions, arrange laboratory testing, and more using Practo’s digital healthcare portal, practo.com.
Practo’s main activities include:
The following is the point in Practo’s client relationship:
The following are the three Practo income streams:
Proceeds from the selling of software to providers such as hospitals and clinics, such as SaaS software solutions. Practo uses a registration-based platform to deliver all services to its stakeholders, such as physicians, clinics, and hospitals.
Revenue from in-person sales or consumer interactions, in which Practo receives commissions for services including finding physicians and appointments, purchasing prescriptions online, and consulting with doctors online.
Revenue from advertising or segregation from hospital-like providers who use the Practo platform to acquire sponsored listings. It deducts the expense of advertising from numerous institutions that wish to promote their services on the Practo website.
Practo earns money through its one-of-a-kind goods and services, which include:
It’s not feasible to calculate the cost of a Doctor Appointment Booking app because it depends on so many variables. The cost of development is usually determined by the features, functions, and platforms used by app development firms.
For a preliminary estimate, consider an app with basic functionality priced between $15,000 and $30,000. And if you want an app with more advanced technological capabilities, the price tag might be anything between $35,000 and $55,000.
The majority of online client booking systems are constantly evolving. They are continuously improving and gaining new features. Many government entities are currently using this sort of application to assist in minimizing wait times.
It is fair to assume that the competition between various online booking providers will intensify each year. As a result, developing the proper and distinctive doctor consult app is critical. We, Apptunix would be happy to help you if you want to build a doctor booking app.
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