Med2House, technology enabled pharmacy.

by Anilkumar Gangadharan

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10000

Flexible Funding

About the project :

Executive Summary

Indian health care industry is estimated to be USD100bn in 2015 and expected to reach USD280bn by 2020 with a CAGR of 23%.  The per capita income is growing at a CAGR of 7.6% enabling individuals to access quality and preventive health care. The disease profile in India is also changing from infectious diseases to lifestyle-based diseases requiring incessant medication.  Healthcare Consumers also started preferring convenience in terms of home delivery and discounts.  Future of the industry is predicted to be driven by large investments by organized retailers and technologically driven players.

Value Proposition: We aim at providing on demand medicines and other healthcare products and services to customer at their convenient place and time at affordable price.  Quality in service will be ensured through personalization and quick response while technology, order aggregation and just in time inventory model will be used to bring affordability.  Customers can avail our services through Mobile application, web portal, phone call and WhatsApp.

Market Identification: The market for Med2house are consumers who seek for prescription, OTC, complementary, alternative and natural medications, health care products and supplements in for conditions like Diabetics, heart care, Hypertension and preventive health care.  Indian pharmaceutical market is estimated to be USD 30 billion in 2015 and is expected to reach USD 55 billion in 2020, with a CAGR of 17%.  On a geographical landscape, Med2house can reach out to the key cities of the state of Kerala by March 2017.  Tier II cities in South India can be covered in next two years followed by pan India operation.

Products and Services: Our products and services will include convenient delivery of prescription and OTC drugs, healthcare and wellness products.  We will also provide platform for customers to avail services like laboratory tests and diagnostic imaging through tie up with service providers, health insurance.  Our website and mobile application will provide information about physicians as well. 

Sustainable Competitive Advantage: We plan to achieve the competitive advantage of personalised service with inbuilt convenience.  Convenience will be achieved starting from our user friendly prescription upload facility through WhatsApp / mobile application to delivery at doorstep.  To achieve cost efficiency, we would be aggregating orders and sourcing it from distributor just-in-time by locating centers closer to distributor hub.

Legal Viability:  Drugs and cosmetics Rules 1945, does not distinguish between conventional and online internet sale/distribution of drugs.  The prerequisites for dispensing drugs are drug license, presence of pharmacists and Doctor’s prescription.

Marketing: Our marketing focus will revolve around creating a ‘Need to Come Back’ thought in the minds of our customers.  We will keep a fine balance between digital and traditional media in marketing.  Customer acquisition will be boosted by going local through tie ups with old age homes, diagnostic centers, labs, apartments etc.  We will also have initial promotional offers for the first purchase and also the referral bonus. 

Operational Plan: We propose to have two channels of delivery – same day delivery by our own team or third party logistics providers at door step of customers and a courier model for the places where we do not have our own delivery centers.  Operational efficiency will be achieved by locating our centers closer to distributors. 

Technology Platform: We will provide a true Omni-channel solution with a rich e-commerce and m-commerce platform to order products. All orders placed on the portal will be visible on the mobile app and vice versa giving users a unified experience.   

Management Team: Our founding team is a rich blend of cross functional experience in Pharmacy, Finance, IT, Business Intelligence, Lean Operations and Marketing functions. We bring together over 75 man years of corporate experience from diverse industries.

Risks and Challenges :

We have started operations in Kochi and is making gross profit.  We expect to make net profit in the month of September.  However, the risk will be our ability to raise further rounds of funding to support our scaling up.  Founders are confident about the busines model as we are keen to ensure that every transation creates some contributions to cover the fixed cost.  

Other Ways You Can Help :

Please refer your friends and family members to avail our services 

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