“Personalized homecare industry is poised for continued growth”

Amol R Deshmukh, Founder and CEO, MedRabbits takes us through the latest trends in homecare market, his company’s initiatives, and future outlook

0
77
MedRabbits Healthcare, a tech-based home healthcare platform brings fast, convenient and cost-effective home healthcare to the customer’s doorstep. To date, the company has catered to over 10,000+ appointments and have partnered with over 20 hospitals, 200+ nurses, attendants, physios, therapists and doctors.
In this exclusive interaction, Amol R Deshmukh, Founder and CEO, MedRabbits takes us through the latest trends in homecare market, his company’s initiatives, and future outlook

BV LogoWhat inspired you to start a personalized homecare company? Key milestones achieved in the journey so far?
MedRabbits was founded by myself and Anshad Ameenza to deliver comprehensive home healthcare services through a technology-centric approach. The driving force behind its inception was the recognition of the need for more organized home healthcare options, structured job opportunities in the healthcare sector, and a lack of transparency in the market. We as founders drew inspiration from our personal experiences, particularly during Amol’s father’s illness in 2017. Our firsthand encounter with the complexities of caregiving and the challenges in finding skilled and reliable healthcare professionals at home revealed a significant gap in care delivery. Consequently, MedRabbits was conceptualized to bridge these gaps by offering organized, technology-driven healthcare services and aiming to revolutionize the accessibility and delivery of healthcare.
Among the key milestones, we have achieved over 10,000 appointments and 3,000 customers across multiple cities in India. We have launched a medical value travel service for International and domestic patients in June 2023. We have also introduced ‘care now, pay later’ model, addressing financial constraints, making quality healthcare more accessible. Moving forward, we have collaborated with NRBC Bank PLC and DHAKA Bank Limited, leading financial institutions based in Dhaka, Bangladesh
BV Logo
What are the services offered by the company and how does it differentiate itself from traditional homecare services?
MedRabbits utilizes technology to deliver comprehensive home healthcare services. Their range of services covers a diverse spectrum of critical healthcare needs at home, including nurses, physiotherapists, diagnostic procedures like Home X-ray and ECG, ambulances, medical equipment, and personalized care plans tailored for the elderly, encompassing both preventive and intensive care. In a groundbreaking move, the company has expanded its offerings to include health-value travel services, addressing the growing field of medical tourism.                                      
“The integration of smart devices, wearables, and remote monitoring tools allows healthcare providers to gather real-time data.”
MedRabbits distinguishes itself in the industry through unique selling points (USPs) that set it apart. The prioritization of a technology-driven approach ensures a smooth user experience. The innovative Care Now, Pay Later (CNPL) model, offering interest-free EMIs over 3-6 months, introduces a level of financial flexibility previously unseen in home healthcare services in India. The adoption of premium pricing underscores their commitment to delivering top-notch healthcare experiences, positioning MedRabbits as a provider of high-end services. The company’s focus on user-friendly technology and customer convenience reflects its dedication to exceeding user expectations in the rapidly evolving landscape of healthcare services.
BV Logo
Could you explain your approach to personalized care? How do you tailor services to individual needs?
At MedRabbits, our commitment to personalized care is at the core of our healthcare philosophy. We recognize that each individual is unique, and their healthcare needs should be addressed with a tailored approach. Our process begins with a comprehensive assessment that delves into the patient’s medical history, lifestyle and personal preferences.
We prioritize individualized treatment plans, crafting interventions that not only target specific medical conditions but also resonate with the patient’s values and goals. Leveraging advanced technologies and data analytics, we continuously monitor and adjust our approach to ensure real-time responsiveness to changing health dynamics.
Patient education is paramount in our strategy and we believe an informed patient is an empowered one. By providing clear, accessible information, we empower individuals to actively participate in their healthcare decisions. Communication is a linchpin in our personalized care model. We foster an open dialogue, encouraging patients to share their concerns and preferences. This collaborative approach allows us to build a strong patient-provider relationship, enhancing the overall quality of care.
BV Logo
What technologies or innovations do you utilize to enhance the quality of care provided to clients?
We have always been a tech first company and utilize a number of in-house as well as outsourced technologies in order to ease operations and conduct data analysis. We are a keen follower of Zoho and subscribe to several of their accounting products. There are two reasons for this – firstly to support an Indian company ; secondly, to emulate a successful bootstrapped company.
Our tech team is also very talented and have developed a lot of the CRM and customer user experience tools in-house. Our comprehensive online booking system allows customers to book a service of their choice at their own convenience. Our in-house mobile app offers a host of functions in addition to those on the webpage.
“In the last two fiscal years, the company has garnered the revenue of Rs 80 lakh and 1.29 crore respectively.”
BV Logo
How do you ensure that caregivers are well-trained and equipped to provide personalized care?  
We employ a comprehensive approach to guarantee our caregivers possess the skills, knowledge, and empathy required for providing individualized and high-quality care. Our training programs emphasize the significance of compassionate communication, active listening, and building trust to create a supportive and patient-centered environment. We foster a culture of continuous professional development, encouraging caregivers to pursue further certifications and specialization in areas relevant to personalized care.  Regular feedback and performance evaluations are integral components of our training strategy. We equip our caregivers with the latest resources and technology to enhance their ability to provide personalized care.
BV Logo
Your views on the market growth and future trends shaping the personalized homecare industry?
Technological innovations play a pivotal role in shaping the future of personalized homecare. The integration of smart devices, wearables, and remote monitoring tools allows healthcare providers to gather real-time data, enabling a more precise and tailored approach to patient care.  Another key trend is the emphasis on holistic and patient-centric care. Beyond addressing specific medical conditions, personalized homecare now encompasses a comprehensive approach that considers the mental, emotional, and social well-being of individuals.
The COVID-19 pandemic has accelerated the adoption of telehealth and virtual care solutions, further transforming the landscape of personalized homecare. Remote consultations, digital health platforms, and telemonitoring have become integral components of care delivery, offering convenience and accessibility while ensuring patient safety. Looking forward, the personalized homecare industry is poised for continued growth, with an increasing focus on personalized treatment plans, advanced analytics, and continued integration of technology.
BV Logo
What was the company’s revenue in the last and current fiscal year and your expectations from FY 2024-25?
 In the last two fiscal years, the company has garnered the revenue of Rs 80 lakh and 1.29 crore respectively. We expect a stable growth in the upcoming financial year.
BV Logo
What are your long-term goals and vision for the growth and impact of your personalized homecare company?
With a commitment to thorough exploration within our existing cities and a parallel initiative to extend our global footprint, MedRabbits has recently announced the commencement of its services in Bangladesh. In the year 2024, MedRabbits is strategically advancing its international expansion efforts into Africa and the Middle East.  The company envisions comprehensive growth by expanding its customer base, diversifying services, and fostering team growth. Deepening its presence in existing cities and venturing into international markets, the company aims to address global healthcare needs.
MedRabbits is also exploring new opportunities in specialized care services such as palliative care and managing assisted living centers. Leveraging technological innovations and strategic partnerships, MedRabbits remains committed to customer service excellence. Aligning these strategies, the company aims to solidify its position as a leading and forward-thinking healthcare solution provider.

*This interview was first featured in the May-June 2024 edition of BV eMagazine.