Varun Gera is a firm believer in new ideas, innovations and ways to push the limits to make solutions easy and efficient. “With technology at the heart of everything we do, we are able to integrate our network partners—across pathology, diagnostics, consultations, pharmacy, etc.,— and bring good health closer to you,” says the founder and CEO of Mumbai-based health services start-up, HealthAssure.
Gera started HealthAssure with a clear focus to address the largely unorganised primary care services market in the country. “It was set up to address the gap that existed in the market for customers (business-to-business and individuals) needing better day-to-day health and the primary and preventive healthcare providers. In India, while hospitalisation and emergency treatment has matured over the last decade, the primary care segment is still largely fragmented and gaining importance rapidly,” he says.
Cut to present. This health services start-up has built over 2,500 primary care centres in 850 cities. It has acquired some large firms in the insurance/corporate segment—Apollo Munich, Mylan, Max Life, Deutsche Bank, MetLife, Max Bupa, Cigna, Bharti Axa, Cigna, Wipro, Deloitte, Fedex, among others—as clients for this purpose.
HealthAssure services 30,000 customers per month. “In 2015, we serviced two lakh customers and we see a market potential of 3 million customers annually,” remarks Gera. In financial terms, his venture has clocked Rs 30 crore this year and expects to more than double that next year. “We have invested more than $3 million in building HealthAssure so far,” says Gera.
The first round of funding came in through serial entrepreneur and investor Rajul Garg and Shuchin Bajaj in January 2015. In October, the same year, it received the second round through a Singapore-based banker and investor. It is now in the process of talking to investors for raising Series A funding.
“Technology is in our DNA,” says Gera, who was earlier the CEO at United Healthcare India and has also worked with other large corporates such as GE Money and ICICI Bank. “Our state-of-the-art software application, developed in-house, allows for network management, steerage to network, client management, finance integration and partner portal. Our technologically-advanced Scheduler is based on complex algorithms. We have designed our mobile app keeping in mind our clients’ needs. It helps them carry out all their activities with just a few finger taps, hence making the entire process robust and efficient,” he adds.
HealthAssure largely provides services to two customer segments—corporates and insurance companies. “For both these segments we provide access and discount through our wide and deep network across 850 cities for their customers or employees. With our primary care network and product, corporates can finally extend their global employee health benefits to their employees in India as well. Corporates can create their own plans from a wide range of services such as diagnostics, pathology, GP consultation, dentist, paediatric, vaccinations, homecare, at any budget point,” he informs.