This article is based on an interview that Biotechin.Asia conducted with Hindustan Wellness.
When was the company founded and who are the founders?
The idea was established in Sep 2013 and November is when we started operations. It has been over 2 years now and the organization has only grown. Mr Siddharth Sangwan is the founder and CEO of Hindustan Wellness.
Siddharth Sangwan founded Hindustan Wellness in September 2013 with a fresh approach of end to end preventive & managed healthcare to an otherwise curative focused Healthcare industry. He currently serves as Chief Executive Officer of Hindustan Wellness. Under his leadership, Hindustan Wellness has acquired over 30,000+ engaged and healthier customers and has successfully conducted over 30 Lac lab tests and 37,000 doctor (tele) consultations.
Before turning an Entrepreneur, Siddharth Sangwan was heading ‘Customer Acquisition’ for online Verticals at Times Group. He was instrumental in turning around the matrimonial segment of the business by delivering multi fold growth during his tenure. Siddharth started his career at the young age of 17. By the age of 19, he was already heading a unit of 200 employees, taking care of end to end business process starting from sales to delivery. In his career spanning 12 years, Siddharth has played a key role in setting up and expansion of the domestic segments of iEnergizer and Serco (previously Infovision Group).
Siddharth is married and lives with his Family in Gurgaon.
What is the startup all about?
Hindustan Wellness is a technology driven preventive healthcare startup. India has always had a curative focused healthcare market where the focus is the disease and its cure and not the prevention the disease and hence there lies a huge gap. Also, what existed in the name of preventive health are these 3 kinds of setups:
- Preventive healthcare provided by hospitals: A hospitals goal/aim is to cure, so the idea of preventive care really contradicts with their business philosophies. Most of the preventive healthcare units are actually ‘Patient hunting units’ where the real money lies. The focus then becomes not doing the tests but finding a lead/customer who can be converted into a patient.
- Preventive healthcare run by Labs – In the name of preventive health care, laboratories do a list of tests (which is an integral part but only an initial part of preventive care as a whole) and handover the report to customer. They don’t consult or manage the customer’s health in any way. It’s a transaction which is complete after handing over the report.
- New Age Healthcare platforms – who would suggest a panel of tests to the customer or sell a Health Card (with discounts at hospitals, clinics and labs), but would direct the customer to a hospital or a lab for the transaction.
Hence we identified a gap wherein there wasn’t a single agency/ lab/ organization which would not just do an accurate assessment of the customer’s health but also give him/her a transparent & unbiased advice, in a language that the customer, empower the customer to manage his/her health by constant guidance and support and thereby reversing any lifestyle disorder, which would otherwise convert into a disease. All this is integrated and driven by a very robust technology.
Our services include quality pathology testing (samples are collected from the customer’s home and reports are delivered to the customers inbox within 8 hours), Doctor On Call (DOC), Dietician on Call and Health Management by a Specialist Health Manager.
How much are the products/services priced at? How has the response been so far?
Our bestselling product is a packaged product called ‘Master Wellness’ which is priced at Rs. 2950. It includes 67 tests, 2 doctor consultations, dietary services and health manager services for an individual. We also offer stand-alone services like Doctor Consultation On Phone etc. priced at very affordable rates like Rs. 299/- but what sells most are our packaged services.
The pricing of our corporate offerings are dependent on the services requested, organization vide strength etc.
We have had a phenomenal response so far, within a span of 2 years we have over 30,000 happier & healthier customers with over 65% repeat purchase.
Any buyers/users from different parts of Asia? What is your reach in Asia and other parts of the world?
Though physically we are in 2 cities but currently we are servicing clients across the country through our corporate services, doctor on call (DOC) and diet on call services. Our retail packaged services are offered in Delhi/ NCR only. The diet on call services are also used by customers in Middle East Asia as well.
Taking a cue from PM Modi’s looking East initiative, after India, we are interested in exploring markets like Malaysia, Indonesia and Singapore in both corporate and retail segments. As all our processes are enabled by a robust technology and the services are easily accessible on digital and tele-platforms, expanding our operations will not be a challenge.
What is the business/revenue model of the company?
Hindustan Wellness has two revenue channels:
- Retail Revenue Channel: We package our services for the retail customers and these packages are designed based on multiple factors like ailment/ health concern (Diabetes, Heart, Bones, Thyroid, Anemia and Vitamin deficiencies etc.) Age (Kids, Elders etc.), Gender etc. (though a customer can also buy standalone services too). The packages include health checkup services clubbed with Doctor On Call, Dietician on Call, Health Mate and Health Manger Services.
- Corporate Wellness Program – This is an 8 steps process where the wellness initiatives are customized for the corporate’s needs. The programme is designed by health and wellness experts with the aim of improving the overall health and wellness quotient if the employees. The programme consists of bucket list of health checkups, seminar, health talks, health dashboards, customized wellness activities, seminars etc. (Link to the Corporate Wellness Program http://hindustanwellness.com/chief-health-officer/)
What other streams of revenue do you foresee? What are the future plans for your company?
We are betting big on our Health Management App which we aim to launch soon. This will become the single platform to address all the health, dietary and lifestyle queries. It will also act as a repository of all his health records which will be digitized to help provide the user meaningful & actionable health insights. It shall also provide the user a space to compile as many pieces of personal medical information into one spot. The app will be engaging enough to help the customer track & monitor his progress on a regular basis with the health of dashboards and scorecards. It will directly be linked to his Healthmate account as well.
On the product front, we will continue to transform the digital healthcare industry and keep adding more features & services to our products e.g. we will soon be launching the video conferencing facility for doctor consultations. Moreover, with the app, we would be in a better position to promote our standalone products like doctor on (video) conference (now Doctor On Call – DOC) and diet on (video) conference without any geographical restrictions.
What are your achievements so far?
We were the pioneers in introducing doctor consultation on phone to the healthcare market in India.
- We have given a proof of concept the industry by successfully conducting over 37,000 (non-emergency) consultations over the phone by eminent & experienced doctors from India’s most reputed medical institutes. We are one of the most successful platforms for this service in the country.
- We have helped over 30,000 customers live a healthier and better life.
(Link to 1 of the customer testimonials: https://www.youtube.com/watch?v=25w37tIbPSE)
- Awarded by one of Asia’s leading legal process company as their ‘Most Outstanding Partner (Health & Wellness)’.
- Awarded ‘Special Corporate Responsibility Award’ by 360 degree Foundation.
- I have been awarded as the “Entrepreneur of the Year” by Medgate Today.
- Recently, I have also been awarded the ‘Young Entrepreneur of The Year’ (2016) at the 6th MT Healthcare Awards held at Mumbai, India’s most prestigious healthcare awards.
Your thoughts on biotech and healthcare startups in India/Asia, in general?
Two things that are going to define Healthcare in the times to come are ‘Technology’ and ‘Convenience’ for the end user/customer. I am extremely optimistic about the future and there is a huge potential in the sector. There is a huge gap which exists in the need and supply in healthcare today, and hence there is a market for the companies like us to fill in this gap by making the customer, their health and their convenience our focal point.
Also, there are newer & better healthcare technologies coming in the market every day to help equip professionals track customer health and the baton is with companies like Hindustan Wellness to take these technologies to (in a shape & form accessible and understandable by) the end user/ customer and pass on the real benefit of these innovations to the society. We must ride on the wave of biotech innovations for scalability and revenue growth and vice versa.
I am quite confident that the next billion dollar startup will emerge from Healthcare.
Any advice for biotech/healthcare startups? How has your startup journey been as a founder?
Healthcare industry is a very high impact industry and must revolutionize the lives of people. Here is my advice to the entrepreneurs in the healthcare sector:
- Make an Impact– If you are in the healthcare space, do not just look at your startup as a business venture; try to be an organization that makes a positive difference in people’s life. Work with this philosophy and your venture will flourish itself.
- Understand your customer and work backwards– Don’t leave any stone unturned to recognize & understand the customer & his needs and craft an impeccable experience which will stay with him for life.
- Persistence– Healthcare (service) as an industry has been very slow and not so technology friendly. Your idea might not get immediate acceptability because the industry has not changed from a lot of time e.g. online closures are not as quick as they might be in the e-commerce segment but hold on to the ground because people will accept & stick to you for long if your service has value.
- Stay with a problem & work towards a solution– After identifying the gap, stay with the problem and work towards a solution and your idea will take the best shape automatically.
- Be original– Have an identity and originality of your idea and product.