Nivesh Khandelwal founder of LetsMD.com completed his studies from University of Pennsylvania and The Wharton School. His family is engaged in healthcare sector over four decades.
New Delhi-based healthcare fintech start-up went live in January 2017. In Delhi NCR it has empaneled 300 hospitals and is now all set to expand its presence in five metro cities including Bengaluru, Mumbai, Chennai, Hyderabad and Pune by January 2018. Their vision is to bring entire healthcare ecosystem comprising hospitals, finance companies, and insurance and drug companies on its platform in long run.
LetsMD helps users compare hospitals, look at doctor videos, compare pricing for their surgery and book an appointment at the hospital of their choice. It then gives the user an option of converting their surgery bill into an EMI at low interest. The healthcare fintech start-up will go live with 40 elective surgeries on its platform by the end of April 2017 including IVF, gynec procedures, cardiovascular surgery, pediatric, knee replacement, ophthalmology procedures, liver and kidney transplant etc. Currently it covers only IVF treatment. Around 1,000 super specialties doctors performing elective surgeries were expected to be live by the end of April.
Patients undergoing surgeries at our empaneled hospitals are not required to pay interest rate. The hospitals treating them pay 6 to 9 per cent of total treatment cost to them as subvention fee. The amount of loan a patient can take depends on his credit profile, his bank statement, salary slips. LetsMD offers medical loan ranges from Rs. 30,000 to Rs. 5 lakh in an hour to 3 days, he said. Till date, the company disbursed Rs. 20 lakh as medical loan to 100 patients undergoing IVF treatment. Initially two years, our focus is on patient financing. They are planning to go live with financing other players in healthcare ecosystem including doctors to upgrade their facility by 2019.
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