Since it’s inception in 2018, Praava Health, a company that combines telemedicine with physical clinics, has gained popularity among the mass population of Bangladesh with its growth tripling every year.
On Monday, the organization announced that it has raised a seed amount of $10.6 million.
Currently Pravaa Health serves 150,000 patients and in 2020, it also processed 75,000 Covid-19 tests in-house.
Most of Praava’s patients currently pay per visit, and its pricing is somewhere between Bangladesh’s public healthcare system and more expensive private hospitals.
It has also introduced membership plans with a flat rate for unlimited access to services.
Its “brick-and-click” model, including online consultations, also allows it to reach patients throughout the country, especially in the rural areas, reports the online news portal Techcrunch.com.
Virtual healthcare accounts for about 40% of Praava’s services including telemedicine and an online pharmacy.
With its new funding, Praava will focus on building a “super app” for patients, to consolidate all of its digital services into one mobile app.
The company has a flagship medical centre in Dhaka and a network of 40 smaller clinics throughout the city. It also plans to open 10 more healthcare centers in Dhaka, before expanding into Chittagong.
Bangladesh is one of the fastest-growing economies in the world, but there is a severe shortage of healthcare workers for its 170 million people. The World Health Organization estimates that there are about three physicians and one nurse for every 10,000 people, and most work in urban hospitals, even though 70% of Bangladesh’s population is in rural areas.
This means people have to travel long distances for consultations that may last less than a minute.