India’s healthcare industry aims to achieve universal health coverage where all individuals and communities receive quality health services without suffering financial hardship, according to a 2020 KPMG report titled “Healthcare 3.0 – Reimagining Healthcare over the next decade ”. Healthcare entities like MediBuddy – a comprehensive digital healthcare platform – are pushing India’s healthcare industry one step closer to quality healthcare for all, especially during the time of the pandemic.
was founded by alumni of IIT-Madras Satish kannan and Enbasker D. The duo realized that 70% of health problems could be viewed, diagnosed and treated with remote online medical assistance. And that access to qualified and qualified health professionals was a serious problem.
Through its complex network of healthcare providers across India, the MediBuddy platform enables users to book hospital stays, preventive care services, insurance services, COVID-testing 19, vaccinations and more. Today, MediBuddy’s omnichannel platform allows patients to book online and offline consultations. It also has a network of partners of more than 90,000 doctors, 7,000 hospitals, 3,000 diagnostic centers, 2,500 pharmacies, as well as a team of 1,200 members in 22 Indian cities. The platform handles 35 lakh patients per day!
Chunky payment solution
MediBuddy gives patients real-time access to consultations with specialist physicians in 21 different medical departments, and allows them to order medications and book lab tests at home. Customers have access to high quality 24/7 healthcare through the app and website.
With such a large network and high traffic on the platform, coordinating with multiple payment sites and managing e-commerce integration was starting to become a problem. Moreover, in the event of a system bug or virus, MediBuddy also had to evaluate several aspects before fixing the problem. Targeting a pan-Indian clientele, the startup wanted to ensure the smoothest payment experience. They began to actively seek out transparent and secure payment solutions. By doing its due diligence with the biggest brands in the payment space, and after careful analysis of market information, MediBuddy chose Razorpay.
Single payment platform
When Satish and Enbasker set out to create the platform, their biggest challenge was to overcome the reluctance and ambivalence many Indians felt towards online consultations. Building transparent and secure customer experiences was of the utmost importance and a key part of partnering with.
Two fundamental advantages attracted MediBuddy to Razorpay: simple integration and rapid deployment. Web and mobile application developers could integrate the Razorpay checkout by including a single line of code or a custom button on their websites. Satish added, “The onboarding process is quick and comes with a lot of features that don’t require you to upgrade. It seemed like a perfect one-stop solution for us.
Razorpay provided a quick and smooth onboarding process for the MediBuddy team, and it was only a matter of time before both organizations were able to get the whole process in place. It provided user-friendly dashboards and reporting mechanisms that allowed MediBuddy to adapt to new processes in less than a month.
As the partnership progressed, MediBuddy was able to build confidence in its online offerings through Razorpay’s offerings, including an automated billing mechanism, simple and efficient payment tracking, exciting reward programs, Full support for web and mobile applications (with easy chargeback) and the convenience of fast refunds for users.
Razorpay is also PCI-DSS and ISO: 27001 compliant. It uses 128-bit SSL / TLS certification for data encryption and tokenization to ensure sensitive data is protected against fraudulent activity.
Open new frontiers
The founders of MediBuddy believe Razorpay has helped them target their efforts into new and untouched areas of business through the data, insights and analytics it offers. “Since our partnership with Razorpay, we have seen substantial growth on a monthly basis. In the first six months, MediBuddy has seen 16% growth on the platform, mainly due to the wide range of rewards and offers now available ”, they added. Additionally, Razorpay’s instant refund process and 24-hour TAT (turn-around time) for all queries has also resulted in higher customer satisfaction. It also supports a dedicated team for specific campaigns to manage escalations. These services and processes have allowed MediBuddy to keep abreast of any payment issues. Emboldened by these developments, MediBuddy now seeks to offer its services to a wider audience.
Dedicated to providing clients with a 360 degree solution for their healthcare needs, MediBuddy hopes to help over 1 lakh of patients per day. In its roadmap for the future, Razorpay will play a key role as the healthcare platform is eager to launch a new payment mechanism for its offline channels such as medical camps. “Razorpay is truly a customer-centric organization. They ensured extremely easy to use and hassle free dashboards, instant refunds and payment methods, ”Satish added.
As the pandemic continues to drive change in healthcare and more healthcare tech companies scale up to fill the industry’s most important gaps, the MediBuddy and Razorpay partnership is a testament to how technology can be harnessed to provide quality health care to millions of Indians without any geographic constraints.