Get to know: Amit Munjal
Galen Growth Asia (GGA) partners with top brands around the globe, savvy investors and passionate startups to accelerate and deepen their understanding of the exciting HealthTech ecosystem in Asia Pacific. GGA is always looking to shine a light on the ecosystem, as well as on the people who are doing amazing things in HealthTech in the region.
Amit is the founding CEO of telemedicine startup Doctor Insta, having had a wealth of experience in the finance industry. With a dedicated user base of over 2 million people in India, Doctor Insta aims to be the biggest telemedicine providers in the country.
Galen Growth Asia: It is great to meet you Amit! Can you tell us more about your story?
Amit: The idea of starting Doctor Insta dawned upon me when I used a similar service while vacationing in Hawaii in 2012, where I had an injury and a video consultation platform came to my rescue right away, saving me time and money to find a doctor on a remote island. I was inspired to launch something similar in India aiming to bring the “On Demand” preventive and curative healthcare to everyone’s doorsteps.
Since its launch in 2015, Doctor Insta has emerged as the highest rated healthcare provider in India with a dedicated user base of over 2 million users. Doctor Insta has been able to acquire global clients in our journey to democratise healthcare. These include companies like American Express, Fedex, Concentrix, Tata etc.
GGA: Wow! That’s a great story. What would you say is the most exciting part of the ecosystem?
Amit: Healthcare is one of the most important aspects of anyone’s life and accessibility to quality healthcare services is still a major challenge in developing countries like India. We are striving to fix the current problem of Accessibility, Reliability and Consistency in India’s $100 Billion Healthcare Market and to bring quality healthcare to everyone’s finger “taps” – anytime, anywhere. 70% of the total OPD cases do not require in-person visits. These mild to moderate issues can easily be resolved through telemedicine! With video, phone and chat, our specialists can engage with the patients to diagnose their issues and provide an effective treatment plan.
GGA: As a person raised in India, how connected are you to this continent?
Amit: I was born and raised in Asia and then moved to America for my further studies. Following on to my corporate career across America and Europe, I moved back to India (Asia). I strongly believe that since Asia is a congregation of some of the fastest growing developing countries, it provides huge growth opportunities to entrepreneurs to solve major problems of these countries across varied sectors like healthcare, education, financial services. The total addressable market for virtual healthcare in India is around $25 Billion. The market is still nascent and the opportunities are ample. There is an equally big market in other developing countries and smaller developed nations. India has over 1 million doctors and each of them does around 50 consults a day. Our plan is to take 2%-3% of this market and give the people of India (and then other Asian countries) access to high quality healthcare services!
GGA: What about your favourite place in Asia to work?
Amit: My favourite city in Asia for business is Singapore for its greenery, connectivity and ease of doing business.
GGA: Singapore is indeed a place well-known for her greenery! My next question for you is: what is the best piece of advice you have received?
Amit: The best piece of advice that I ever received is that persistence and perseverance can make the impossible, possible.
GGA: That is a great piece of advice! Other than words, who really inspires you?
Amit: Mother Theresa and Bill Gates!
GGA: What have you learnt recently that just blew you away?
Amit: I recently learnt the art and science of being a new parent, which entails everything from feeding the newborn to changing diapers; The whole process blew me away as it takes so much to raise a child. This whole exercise made me appreciate my parents even more and made me realize that every parent is an unsung hero of their homes.
GGA: That is really uplifting and inspirational! If you had the chance to start all over again, what would you do differently?
Amit: I will not change a thing in my life as I love the way it has evolved. I have learnt far more from my failures than from my victories.
GGA: How do you unwind?
Amit: To unwind, I read, workout or travel to some new country to explore an entirely different culture.
GGA: Will you recommend our readers and people in business a book to read?
Amit: Zero to One by Peter Thiel.
GGA: Give us a shameless plug for your business!
Amit: Healthcare for all- Anywhere, Anytime, is the Mantra that our company, Doctor Insta, stands for. We are trying to pull every possible stop in this journey to democratize healthcare, improve life quality & expectancy, increase human and in turn national productivity.
GGA: What would you like to achieve at the 2018 GGA HealthTech Summit?
Amit: As a rapidly growing company, we at Doctor Insta are keen to attend this summit and show to the world and other investors, the benefits of virtual health consults for people to increase productivity and reduce absenteeism (20% improvement) as well as improve health (25% healthier). Other than that, this summit will help us gain meaningful insights into the new and upcoming trends in the healthcare industry.
GGA: Last but not least, how should our readers connect with you?
Amit: People can connect with me thru following mediums:
GGA: It has been fantastic speaking with you, Amit. Thank you for your insights!