30 August 2018 | News
mfine believes the outpatient care program will help corporates create a ‘wellbeing-focused workplace’ and also enable them to build better employee retention.
Image credit- palatonogroup.com
mfine, an AI-powered, on-demand healthcare service, recently announced the launch of Outpatient Care Program targeted at employees of corporates; a first in India. mfine’s corporate program offers unlimited consultations and will cover all outpatient needs of an employee and their immediate family members, including parents, children and spouse. In the first month, the company has partnered with 15 organizations including PUMA, Zivame, Livspace and Careernet etc. and has over 5000 employees on-boarded as part of the program in these companies.
Under mfine’s corporate program, employees can avail unlimited video consultations, health checks, health record management and home services. It will also include long-term care programs for pregnant women and patients having chronic ailments such as diabetes, arthritis, etc. Additionally, mfine will provide various digital health tools to employees to track and manage their health. They will have access to doctors from top speciality and super-speciality hospitals and will also include access to home services such as lab testing and medicine delivery.
Traditionally, hospitalisation and personal accident cover are the most widely provided corporate health benefit across the world. But studies suggest that only 8% employees avail these benefits. Very few companies, less than 10%, offer outpatient as a benefit. When they do, it is usually limited to a general physician and does not cover specialist care. Studies do suggest that better health benefits leads to higher employee retention and overall satisfaction. Recent studies have revealed that an average person spends 90,000 hours at work and nearly half of India’s private sector employees suffer from depression, anxiety and stress. It has also been found that a large percentage of people in the corporate sector face the risk of diabetes, hypertension, and other lifestyle-related disorders. All of which have a direct impact on a company’s growth. Various reports indicate that outpatient expenses including medical check-ups, doctor fees, and medicines account for a higher chunk than the actual hospitalization expenses. Timely OPD care will also help in bringing down the instances and cost of hospitalisation. mfine outpatient care will also help reduce the economic burden for corporates (because of non productivity and absenteeism) by providing instant and continuous access of quality care from best hospitals.
mfine believes the outpatient care program will help corporates create a ‘wellbeing-focused workplace’ and also enable them to build better employee retention. Offering hospitalization benefits is no longer sufficient and providing easy access to primary care at the premises is something all large companies will benefit from. The mfine corporate program will also enable personalised healthcare for employees where healthcare packages are curated to cater to the lifestyles, genetic makeup and health risks of each individual. For example, one employee might be in need of a weight management plan, while another could need counseling and therapy.
mfine follows a unique model of partnering with leading and trusted hospitals instead of aggregating individual doctors on the platform. Hospital partnerships enable mfine to make high quality care of trusted doctors available on a digital channel – for the first time in the country. mfine has already partnered with 45 leading hospitals and has more than 100 doctors on its platform, who consult with patients across ten specialties. For the hospitals, mfine is their new center on the cloud bringing in more patients and offering premium services, long-term care programs, super specialties without any upfront investments.
The startup has raised over $6 million and has 60 employees in Bengaluru. The company is planning to clock over One Hundred Thousand consultations by the end of 2018. It will be expanding its presence across 5 cities in India and will look to partner with more than 50 top hospitals across the country.