Healthcare App Development Practo Business Model: How Practo Works & Earn

The internet, from morning news to late-night food shopping, is making everything easier. Especially after COVID-19, the use of the internet has exponentially increased all over the world. COVID has forced us to make the best use of the internet—from getting all the latest updates instantly to connecting with our friends, family, and colleagues. The Practo Business Model is an example of how the internet has enabled seamless access to healthcare, further illustrating how the internet has covered it all.

The Internet provides us with an easy in do all the daily small to big tasks in our lives and hence, the healthcare industry is no exception. With the help of the Internet we can book our appointment or even consult with our doctors sitting at home, isn’t it…amazing, it is right? Everybody knows that online medical consultation has grown in popularity in the last few years at a rapid growth rate. 

In addition to that, according to a report, the global mHealth apps market size is projected to grow from USD 80.87 billion in 2023 to USD 861.40 billion by 2030, with a CAGR of 40.2% during the forecast period. This huge data clearly shows that mobile healthcare is here to stay and is ready to fly for exponential growth all over the world. 

After seeing this huge growth of Practo doctor consultation and its benefits for their patients many organizations are attracted to online medical consultation apps and when it comes to the best online consultation app, who is better than Practo? We all know that technology is no more a side topic to be discussed as its innovative applications have created a massive impact on every industry and the healthcare industry is one of them.

Technologies like the Internet of Things, Machine Learning, and Artificial Intelligence integrated applications, are contributing to this massive growth globally and have made the healthcare industry more advanced and promising. If we talk about today’s data then according to a report, over 73% of global healthcare organizations are implementing IoT to monitor and maintain their resources. 

This huge figure will definitely attract more healthcare business owners to implement this in their business as well. Practo offers multiple benefits this will not only help you maintain your resources but will also minimize your day-to-day manual tasks so that you can focus on some other important tasks. Hence, it will increase your business efficiency. So, we have discussed that the Practo Business Model is the best model that will give you the blueprint for success in the mHealth world.

In this blog, we are going to tell you everything about the Practo Business Model, the Practo revenue model, how it works, and how you can take advantage of it and build your Practo Like app. So, are you ready to go on this success-oriented journey? Let’s get started…

What is the Practo Business Model? 

With the establishment in 2008, Practo is a digital platform that is now available in 15+ countries. Practo is an online health platform that helps in connecting patients to doctors and healthcare professionals. In addition to that, it allows consumers to book appointments, check-ups, consultations and order medicines by uploading prescriptions and all this can happen with Practo sitting at home. 

If we talk about its success rate then the report says that Practo has raised around 124 million dollars recently and it approaches big companies like Yuri Milner, Google Capital, and Sequoia Capitals. These companies are strongly backing the Practo business model to expand their business reach and generate good revenue. 

The founders of Practo Mr. Shashank ND and Mr. Abhinav Lal want to build an ideal medical healthcare app and their mission is to make quality healthcare affordable and accessible on a global scale. And after seeing the success and buzz of the Practo App it looks like they have achieved what they have manifested. 

Let’s discuss some interesting points about the Practo app for doctors that will leave you amazed and hopefully give you the idea to implement these points in your business so that you can also build a Practo Like App.

Some other critical facts about the Practo app:

Headquarters: Bangalore, Karnataka, Practo Technologies Private Limited has its headquarters in Bangalore, the site of IT. this is a smart move to make as this gives them all the latest information regarding their business, and their competitor’s business, and they can easily analyze what they have to do next and what not. 

Number of Employees: Practo Technologies has 5001-10000+ employees so that they can track every single action in the market and employees can implement the latest thing instantly. 

Total funding: Practo has about $228.2 million in funding this is because Practo to do multiple things at a time without thinking about pennies. 

Practo account bridges the gap between doctors or health professionals and patients. On Practo multiple fantastic features offer the best services to customers by providing amazing features. In addition to that, it also includes Practo doctor consultation, appointment booking, and much more.

Additionally, there is also a plus subscription available. This subscription-based health plans that are known as Practo Pro, Practo Plus, Practo Prime, etc. Now, as we have Discussed What is Practo and its major points of success so, now we are going to learn about how it works.

How Does The Practo Business Model Work?

According to customer reviews and the growth rate of Practo, it is one of the best one-stop solutions for all the healthcare needs of any patient. Practo app works on three different stakeholders that we are going to discuss in our next section called “How Practo Works.” With the help of these stakeholders, Practo works seamlessly and helps doctors reach their patients and patients to reach doctors from any time and anywhere. So, let’s see how this amazing model works: 

1. Patients

Patients are the first stakeholders where a user or a customer can seamlessly consult with any doctor in just a few simple steps. 

Health Consultation

For patients, there is a feature called health consultation where patients can enquire about any health problem by filling out a form with certain details. 

Practo Search

Again in the patient feature, there is another brilliant feature which is the search option. Here the patients can easily search for doctors and laboratories at any location. Also, the given filters can help in refining the list of doctors based on experience. 

Consult Doctor

Patients can choose the required version of Practo for consultations with doctors also the platform ensures a response to every query; this is the reason it is so famous. 

Order Medicines

With this feature, you can also order medicines online. Moreover, it possibly has all the medicines available that are rarely available in the market. 

Health Articles

With all the medical facilities Practo app has health articles on every topic so that one can read them and gain more and more knowledge about his/her health condition and other diseases. 

2. Doctors

Doctors can simply manage their daily appointments and mark availability to see patients it helps both patients and doctors. Using the Practo app and Practo website solution doctors can seamlessly improve user engagement. In addition to that, the Practo App for Doctors also offers Practo Consult, Practo Health Feed, and Practo Profile.

Moreover, doctors can also get listed in the database of Practo by creating a profile on the app. And others can see all the details about the doctors like their specialty, work experience, timings, etc. This helps patients to choose their consultants according to them. So, here is how you can get a Practo doctor appointment easily and can consult with them. 

3. Clinics & Hospitals

There are two major Practo SaaS software Practo Ray and Practo Search with these two SaaS software hospitals or clinics can achieve efficiency in managing daily operations. This software can be installed at any hospital for multiple operations. In addition to that, Practo Search helps you check hospitals, clinics, or doctors sitting at home with this you can also ensure consulting with the right doctor. Now as we have discussed the three stakeholders which are the foundation of the Practo Business Model.

Now let’s see what are the factors that can affect the creation of a Practo-like app. 

Also Read: How to Build App like Practo : Cost and Features

Important Factors For Creating A Practo Like App

For an app like Practo, it’s important to know what are the crucial factors that can help in the Practo like app for betterment. So, in our next section, we are going to learn about those vital factors. 

Know Your Target Market

To start building an app like Practo first, you need to know and recognize your target market. Moreover, if you are thinking of building a healthcare app like Practo then you must keep in mind the geographical characteristics.

Keep off the Complexities

In any Mobile app development procedure, it’s possible that one can face some complexities but it is important to stay away from them. But how you or developers can do that well, testing can be the ultimate solution. You should test the mobile application before introducing it to the market. So, to build an app like Practo India and then test it avoids all the complexities apart. 

Data Safety

In today’s fast and digitalized world where economy and data privacy are needed to remain competitive, it helps you stand out in the market. Data is the most important thing and it is vital for any app to save patient’s data and all health information. Developers must provide the extra layer of security if you hire the best Mobile app developers who can build you the best mobile healthcare app. 

They will give you the extra layer of security which is important for every patient’s crucial information. Now, as a business, you also know the things that are important for proving the best security features, data security, using cloud development is the best and the most proven approach in the market currently. 

So these are the factors that affect the creation of the Practo like app. Now you must want to build a medical healthcare app, so in our next section, we are going to learn how to build a Practo app. Moreover, this app also provides Practo video consultation.

How To Build Your Practo Clone

Here in this section, we will discuss “How to build a healthcare app.” To build an app like Practo and to enhance the performance of your healthcare app then user-friendliness, security, and cutting-edge technologies are important. So, what you can do for this, well the solution is the Internet of Things. With the help of IoT, you can incorporate high security in your healthcare application so that customer can use it without any tension of losing their critical data. 

Furthermore, the application also needs enhanced privacy and the latest AI technology for optimizing the careful delivery. By performing all the latest technologies you get to know how Practo earns.

Key Areas of Improvement:

Interoperability: Interoperability is the key area of improvement as it facilitates a smooth flow for patients. 

Clinical Decision Support: It helps healthcare professionals make the best choices to suggest treatments and drug doses using thorough data analysis.

Telehealth Features: Enhance telehealth capabilities to include secure video consultations.

Data Analysis: Use big data analytics to derive valuable insights that ultimately improve patient care results.

Secure Messaging: Improve communication between healthcare providers and patients that also follows healthcare privacy rules.

EHR Integration: Connect your app to EHR systems to provide healthcare providers with complete access. 

Machine Learning: Incorporate machine learning techniques to discover trends and the development of treatment strategies.

Voice Recognition: Add voice-activated functions for healthcare workers to access patient data without typing.

Advanced Imaging: Enhance your application with artificial intelligence and machine learning functionalities for early diagnosis and treatment strategizing.

Health Data Sharing: Enable the safe exchange of patient data between various healthcare entities.

Practo Revenue Model: How Practo Earns 

Practo’s revenue model is different from other similar models. They have already fixed a certain percentage of money for every service or booking later on, they expanded it and came up with more resources.

Commission on Booking

Commission and booking imply that for every medical service booked online, customers pay a certain extra price which goes to Practo, it was the initial source of Practo revenue. 

Charges

Practo charges are differentiated in a way where a certain amount of commission from doctors, clinics, pharmacy stores, and hospitals for getting listed on the app and Practo’s website.

Practo Ray: Practo ray includes Practice Management Software for doctors for that they need to pay monthly fees which is the largest revenue source.

Practo Plus: Plus is a subscription-based healthcare plan for patients. Practo gets some revenue from this by offering unlimited consultations to patients.

Whether it’s a doctor or a patient they have to do Practo registration to list in the Practo model. Now it’s time to let you know the best features of the Practo app that you can include in your healthcare online app so that it can also generate revenue like Practo.

Features to Include Practo Like App

Features for patients: 

Profile Creation

Doctor/Clinic Search

Hassle-Free Appointments

Real-Time Consultations

Medical Records Access

Medicine Delivery

Payment Options

Features for doctors:

Professional Profiles

Appointment Management

Patient History Access

E-Prescriptions

Transactions & Analytics

Features for admin: 

Comprehensive Dashboard

User and Appointment Management

Doctor and Clinic Oversight

Financial and Delivery Management

Conclusion 

This blog concludes that this is high time for all medical business owners and if you are already planning to do so then TechGropse is the best choice to make as we have read the ideal Practo business model and other similar models as well. That’s why we know all the pros and cons of this kind of model. To achieve the best practices like mobile applications choose us. TechGropse, a leading healthcare app development company, is the perfect choice to make. We are your ideal development partner leaving no stone unturned for undefeatable success.

Why TechGropse? 

TechGropse can be your best partner as we have the world’s best professionals so, you can Hire Dedicated Developers to integrate AI, IoT, and blockchain into your healthcare online app. In addition to that, TechGropse has 10+ years of experience in providing IT solutions so, you can trust us easily. To date, TechGropse has successfully delivered 1000+ projects and you can be the next member of TechGropse’s client family. So what are you waiting for? 

Benefits of partnering with TechGropse

• 10+ years of experience 
• 1k+ successful project deliveries 
• 200+ technology experts 
• 1+ years of free maintenance & support 
• Deals with every industry

Let’s connect, and revolutionize the healthcare online app!