'By Dec 2017, We Will Venture Into Bengaluru, Chennai, Hyderabad And Mumbai'

Tenzin Thargay, Co-founder, LetsMD, a healthcare fintech start-up, in an interaction with Prathiba Raju, elucidates on how the company aims to make healthcare accessible and affordable to 50 per cent of India’s population which doesn’t have access to tertiary-level care due to unavailability of immediate liquidity

- Prathiba Raju

What made you venture into healthcare financial start-up?

LetsMD focuses on small scale hospitals and 90 per cent of our clients are from small hospitals. As these hospitals work more like rental shops, LetsMD supports them to establish a robust customer relationship management (CRM) and help them attract nearby patients. Today, 50 per cent of the rural population in India and 30 per cent in urban India go for loans or sell assets to pay their hospital bills. Large PSU banks are more inclined to corporates, and personal loans for the salaried class. This is the reason why micro finance institutions are faring better in one or two states in South India, while in North India, the picture is grim. Bajaj Finserv provides personal loans and SRE, Fullerton, Sriram Funds are inclined to infrastructure finance. A lot more needs to be done in medical loans and this is where we want to make our presence felt.

How has been your journey been so far? What are your expansion plans?