Practo’s hospital management system, Insta, trusted by 1500+ healthcare centres globally, announce its transition to SaaS model to drive more value, efficiency, flexibility and scalability for its partner clinics and hospitals.
The development, part of the company’s holistic growth and profitability strategy, is expect to impact the topline positively, with a 25% increase in healthcare centres.
With this move, the company aims to improve its integration, enabling timely upgrades and greater ease of use, at 4x lesser costs as compare to conventional IT infrastructures.
Insta’s ambitious expansion path includes going deeper into the Middle East and Indian markets by providing for local needs.
It will also enable hospitals to improve operational efficiency by 20%-25% with minimal revenue leakage.
Post-acquisition in 2015 by Practo, Insta has grown 368% in terms of the number of hospitals and clinics using the service and is clocking a 25%-30% revenue growth year-on-year, over the last two to three years.
Due to consistent on-demand service and highly automate systems, the retention rate for the business has been 92%, one of the highest in the industry.
Insta is associate with hospitals like Apollo Health and Lifestyle, Ovum, Bansal, Omni Hospitals in India and Emirates Healthcare, Right Health, Etihad Airways Medical Centre, VPS- Lifeline, VPS-Lifecare, Valiant Clinic in UAE amongst others.
Abhinav Lal, Co-founder and Chief Technology Officer, Practo Said :
Vikas Kumar, CEO, Insta, Said :
Sudha Kamalnath, Chief Operating Officer, Sagar Chandramma Hospitals, Bangalore Said :
Like many other industries, Covid-19 has put a spotlight on the need for the adoption of healthcare systems to SaaS-based models.
And the cloud computing market in healthcare is estimate to reach $51.9 billion by 2024.
The adoption of cloud-base solutions also helps healthcare organisations to cut down on the unnecessary expenditure of maintaining legacy IT systems while providing greater collaboration for better patient care.
About Insta by Practo
Insta by Practo, a division of India’s leading integrated healthcare company Practo, is a cloud-based hospital information management system, powering 660+ medical establishments across 22 countries including India, UAE and Saudi Arabia.
Insta is use by clinics (both standalone and chains) and hospitals for automating their clinical, operational and financial processes such as scheduling, registration, out-patient and in-patient management, billing, electronic medical records (EMR), ward and bed management, diagnostics, advanced insurance and lab equipment integration, operation theatre, pharmacy and inventory management, specialty modules like dental, dialysis, IVF, Pediatrics and so on.
Headquarter in Bengaluru, Insta was founded in 2008 and acquired by Practo in 2015 and serves customers through hundreds of hospital and clinic chains.
Some of Insta’s key customers include Apollo Health and Lifestyle Limited, Motherhood, Peopletree, Ovum, Bansal, Omni Hospitals in India and Emirates Healthcare, Etihad Airways Medical Centre, Right Health, VPS- Lifeline, VPS-Lifecare, Valiant clinic in UAE.
About Practo
Practo is on a mission to make quality healthcare affordable and accessible for over a billion+ Indians.
It is India’s leading integrated healthcare company that connects the entire health ecosystem together, including patients, doctors, surgeons, clinics, hospitals, pharmacies, and diagnostics to generate exceptional value and service for all, especially the end consumers.
It integrates different parts of the patient’s healthcare journey so they can have a seamless experience, right from primary healthcare viz. finding and booking an appointment with verified doctors, consulting doctors online with ETA as low as 60 seconds, getting medicines delivered and lab tests conducted at home, providing health plans to corporates, to secondary healthcare procedures across 20+ specialties.
Practo also makes software products that help healthcare providers ranging from small clinics to large hospitals digitise and deliver more efficient and higher quality healthcare to millions of patients around the world.
As technology becomes an integral part of healthcare, Practo has also become an essential enabler in helping doctors understand the nuances of managing and securely storing all health data.
Practo encrypts all data with 256-bit encryption, uses HIPAA-compliant data centres, and is one of the few healthcare companies to be ISO 27001 certified.
Practo is present in 22 countries, helping over 30 crore patients, by connecting them with 1 lakh + verified doctor partners.