In our technology driven world, good healthcare services have become a major concern, almost for everyone. People are in need of good healthcare but a large piece of the information that is being provided to them is incorrect and many times misleading. The internet has now become a tool to spread unchecked facts and generate revenue with click-baits.
For example, if you search, why am I feeling tired? Search engine says, “It could be due to Insomnia, Anemia or due to some stress”. Now, the confusing part here is, all these three conditions are insanely different from each other.
Surprisingly, the question always carries its answer. It means technology is the solution for problems it created. During our research related to intervention in healthcare we found a Kolkata based start-up that provides fast and easy solutions for a number of healthcare needs.
Angeldoc Healthcare is a business in the health tech industry that claims to offer affordable health services with internet. The business is in prototype stage now and is soon expected to launch.
Health-tech uses the internet and technology methods to cure diseases and disabilities. In short, when any individual or company sends an online prescription or a person orders medicines on the internet they become a part of the health tech ecosystem.
Ranjan Dey, Founder, Angeldoc Healthcare founded another successful venture as Ultraedge Management (OPC) Pvt Ltd. It is an Indian Non-Government Company, actively providing Business Services. Ranjan has started his career as Technical Head in Promind Software Technologies Pvt Ltd and now owns two companies. Ultraedge Management (OPC) Pvt Ltd is running successfully while Angeldoc Healthcare is in prototype stage. Below are some questions we asked from Ranjan, related to what and how Angeldoc Healthcare provides.
Q. How does it feel to achieve/be nominated for the small
business award?
A. It was unbelievably awesome; I still feel emotional when I think about it now, as it’s one of the best things that has ever happened to me. It’s wonderful to receive not just recognition, but public recognition for something you have done and – in this case – something that I took a risk to do. People have now listened to my story, looked at my business and believed that it is something good.
Q. When did your business begin?
A. I think every entrepreneur has a different path. If I look back on my career I probably started my business 2 years before I actually applied for a business license. Unbeknownst to me decisions I was making 3 years before the idea of starting a business even presented itself to me.
Q. Why did you decide to start your own business?
A. This is a question I ask myself before I make many purchases, and it’s one that I return to when I think about my work schedule and what matters to me in terms of activities related to my life. As you think about why you want to start a start-up it can help to ask yourself why you are moving forward on this path.
a. It’s not just about the money
The first impulse many people have when thinking about starting a business is to say that they hope to make more money. However, when an entrepreneur drills down a little deeper, there’s a good chance that it’s not truly just about the money. Money could be a helping element to reach our goal but it should not be the goal.
b. Freedom and flexibility
A. Business is like freelancing but full time. It provides a great deal of freedom and flexibility in life. I am able to set my own schedule, and I can choose my clients.
c. Make a difference
I’ve met several people who start businesses because they want to make a difference. Do you see a need in your community? Could I start a business address that I need? One of the realities of life is that you can make a profit and still make a positive difference in your community and even in the world. If you want to make a difference and can see how to do it with a successful business, that’s even better. Carefully think about why you want to start a business, and move forward with that as your motivation. When things get tough and they will, having a solid reason to hold on to rather than just making money can help you stick with it.
Q. What was your first objective when you founded your business?
A. One of the most important reasons to plan my plan is that you may be held accountable for the projections and proposals it contains. That is especially true if you use your plan to raise money to finance your company. Let's say you forecast opening four new locations. An entrepreneur may have a beef if, due to circumstances you could have foreseen, you only open two. A business plan can take on a life of its own, so thinking a little about what you want to include in your plan is no more than common prudence.
Q. How many people work for your company?
A. Ten
Q. What products or services do you offer?
A. Healthtech is a virtual and mobile-based platform that will bring all the healthcare related services under one umbrella that benefits both patients and healthcare service providers. It aims to create a Digital Platform which will act as a One Stop Destination for all the healthcare needs of its clients.
We are the only complete preventive and primary healthcare care provider operating online. We aggregate all the services in one place offering holistic care to customers. We believe that prevention is better than cure and hence proactively keep track of our customer’s health.
Q. What methods do you use to promote your business?
A. There are a number of ways to promote the business, registering the business with Google is a small yet crucial step that every business should take. Doing this allows potential customers to find the company's location and hours of operation easily. Customers can also post reviews of the business.
Another thing that can help in promotion of the business is social media. Over time, social media has become less of a nice-to-have and more of a business necessity. Social platforms allow a business to actively inform, attract and engage with the followers. Initially registering a business on social media is free but creating paid posts and other forms of social media ads will still require an investment. Traditional forms like Television or Radio advertising costs more money but has a wider reach than other methods.
Q. How difficult was the start, what was the motivation and what was the reason for starting the business?
A. Starting a business brings many different emotions in entrepreneurs, including passion, excitement, and impatience. We have what we think is a great business idea, so we want to get started, hit the ground running, and see progress immediately. It's often difficult to stop speeding ahead and take the process step-by-step, especially when some of the steps are tedious. However, it's very important to take time to identify your motivation before starting a business.
Q. Please tell us what is the current industry trend of your sector?
A. In 2020, e-pharmacy saw a 200 percent increase in orders, and post-COVID, it was adopted more than 2 times.
• During 2020, teleconsultation platforms received 300 percent more consultations.
• 80 percent of those who requested teleconsultations were first-timers.
• Government initiatives such as the announcement of Telemedicine Practice Guidelines, National Digital Health Mission (NDHM), and E-Access to healthcare will be crucial for the sector.
• The Indian health tech sector has received USD 3.4 Billion in funding since 2014.
• The market size of the e-diagnostics market in India was USD 70 million in 2020, with a CAGR of 66 percent. In 2020, the health tech sector recorded 77 deals raising USD 455 Million in funding.
Q. If you were not a businessman. What else would you have been?
A. If I hadn’t come into this business, I would have been a singer.
Q. What are some dos and don'ts for aspiring entrepreneurs?
A.
Do’s:
· Start something: A Blog, a website, a group, anything. Action is what counts so, take action, even if it's not a very significant progress towards your business, this step would get the ball rolling. Try it.
· Solve a problem. To find out what business, look at the current players and their services, interview a few customers and identify a problem or issue with current product and service. Then, solve it.
· Make a Network - Talk to anyone and everyone, tell them about your business when they ask what you do, soon you’ll master your business pitch and be connected to lots of people; you never know who you’ll bump into.
Don’ts -
· Don’t just wait for the perfect time, it’s an illusion. Perfect timing doesn’t exist. It’s either now or never.
· Hire friends only if they are equally if not more excited and motivated for the business. Enough said.
· Never try to do it all by yourself. No one can. So learn the art of delegation and outsourcing.
· Never ever blindly fall in love with your Idea. This one is the most important because you don’t want to blindfold yourselves to the feasibility part of the business. A business in order to be profitable has to be feasible and sustainable.
Q. What motivates you the most?
A. The ability to learn new things. Having an opportunity to be exposed to a new team or department. Getting a chance to work inside a particular industry. Working inside of an industry where the employee has a strong passion.
Q. Business is another name for taking risks, before starting any new things, how do you overcome your fear?
A. Entrepreneurs, including me, are often questioned about anything we do. Perhaps it’s one reason we became entrepreneurs in the first place - to prove that we’re better off doing whatever everyone else thinks we shouldn’t. In fact, you could argue that being an entrepreneur is less about building a business and making money, and more about having the power to shape your own destiny.
Angeldoc is addressing the pain point of Indian customers by providing solutions to a major problem in the healthcare sector. According to the Indian and Mobile Association of India and Praxis alliances report, the Health-tech market is growing at a whopping 39 percent of current annual growth rate and is expected to reach USD 5 billion by 2023. The health technology market of India presently stands at USD 1.9 billion, which is 1 percent of the total Indian healthcare market.
In 2020, the global digital health market size was USD 145,884.3 million. The numbers are expected to reach USD 767,718.9 million by 2030, with a CAGR of 17.9 percent from 2021 to 2030. The COVID-19 outbreak will have an optimistic influence on growth of the global health tech market.
