Healthcare in India
While India has made leaps in overall development in the past three decades, access to and affordability of quality healthcare hasn’t kept pace. India today has just one government doctor for every 10,926 people. Overall, India has 0.7 doctors for every 1000 population. WHO recommends at least 1 doctor for every 1000. In order to meet the Who recommendations India will need another 2.07 million doctors by 2030. According to the data compiled by the World Bank, India spends only 3.5% of its GDP on healthcare, way too less compared to even other developing nations like China which spends 5.2% of its GDP. And, majority of India’s healthcare spending is coming from the private sector. So, in the near future the situation is not going to dramatically improve even as the government intends to double the public healthcare spending to 2.5% of GDP by 2025.
So, policy makers are turning to technology for answers. Technology through Artificial Intelligence could provide an answer to this incredible shortage of medical professionals in our society. Prasad is building India’s most notable AI-powered healthcare platforms that provides instant access to high-quality and reliable healthcare, especially for non-emergency conditions.
Telemedicine as a space has seen its share of highs and lows. Some startups raised tens of millions of dollars to make telemedicine a widely adopted utility but have fallen short. So, when Prasad thought of Mfine he knew he had to take a different approach where quality, safety, trust and technology formed the four corners of a durable solution.
I first met Prasad when I was working at Kalaari Capital. In 2017, he exited Myntra after his meteoric rise through the ranks and co-founded Mfine along with Ashutosh Lawania who was a co-founder at Myntra too. Despite being a senior executive at SAP & Myntra, Prasad didn’t have an air of superiority and was very grounded. And, when you listen to this episode you will notice how eager he was to learn from his team and others. I suppose this trait sets the best entrepreneurs apart from others.
In this episode…
Prasad and I both come from the same city Vijayawada in Andhra. And, even more funny coincidence is that Prasad studied in the same college where my mom used to teach. Naturally this made a very fun episode.
I ask Prasad about his experiences growing up as the youngest of 3 brothers. We also talked about his failed first attempt at startups and what encouraged him to go back to starting up with Mfine. Prasad also talks about the lessons he learnt at SAP and how he evolved as a leader in both Myntra and Mfine. Catch this and many more interesting musings in this inspiring episode.