1mg is India’s leading online healthcare platform that makes healthcare accessible and affordable around the country. It crossed more than 5 million app downloads and more than 9 million monthly website visitors. 1mg provides Quality Healthcare on your fingertips!
About the speaker
Gaurav Agarwal, co-founder at 1mg, India’s Leading Online Pharmacy & Healthcare Platform. He leads the product and growth team at the diagnostic and medicine delivery platform and spends his time on strategic aspects of technology, figuring out new tech areas where 1mg can invest.
About the Journey
“The journey was very exciting and accelerating when we started 1mg we felt this is the area of big need for consumers. Information was not easily accessible about healthcare and medicines in our country. There was a lot of confusion around it because there were so many brands. As startups have broad roles and responsibilities. Mainly, I look after product technology, data science, and growth.”
“There were a lot of hurdles and honestly, they keep changing. Initially, the first hurdle we faced was nobody believed that it was possible to build an integrated health platform. We had multiple transactions and digital tools on one platform. We were bullheaded and overcame everything with belief.”
To listen in detail about more hurdles faced by the cofounders of 1mg, listen to the complete podcast above.
Eventually, 1mg has worked very actively and proactively to change the different perceptions and to make it reliable and trustworthy.
“1mg has focussed on chronic patients, the ones who have repeated and regular need for medicines. One of the biggest problems they face is the different brands of medicines and the unavailability in pharmacies. That is when chronic patients chose the online way to access healthcare services.”
“Diagnostics is the fastest-growing segment wherein you can book a slot for the test and someone will come to your home to draw a blood sample and then take the sample to a lab of your choice. We partnered with more than 100 certified labs”
COVID impact on healthcare
“Definitely, healthcare has also been affected. Whereas, the offline healthcare industry has been affected more. People now prefer buying online over offline but even a few online segments have been affected.”
“We have an independent business line, we work with diagnostic labs. Patients get their prescriptions written offline and then book a test or order medicines.”
This is how 1mg altered finances and changed the lives of many people, as Gaurav explains an incident he recalls-
“A person from a village in Karnataka had shared how he was from a very poor background and his family had a monthly 5000 Rupee medicine bill. As he was internet savvy he came to know about 1mg and figured out how to find substitutes for the medications his parents were on. He then consulted a doctor and switched to the substitute medications that were cheaper but equally effective due to which he could save up to 2000-3000 Rupees a month.”
“I believe there is no easy answer to this. We have to slice and dice the consumers and hypothesize on what could be an unmet need. Experimentation and information can always help to learn.”
Further, he explained a campaign about COVID which was their way of marketing.
A message to the budding entrepreneurs
“Think of new healthcare problems to solve and to make India healthier.”
This is how a simple thought of making healthcare more reliable & trustworthy changed the outlook on the healthcare industry and made the common man’s life easier and healthier.
About Game of Growth
The game of growth is a podcast show by Truepush, the world’s #1 free push notification platform. The show mainly focuses on inspiring and motivational unheard stories of successful entrepreneurs who start over with a simple thought and build exceptional business strategies around to bring a change in the world.
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