Diagnostics just a click away

City-based healthcare startup LabTalk, a diagnostic laboratories aggregator will soon launch www.labtalk.in to provide even small-scale diagnostic centres a platform to promote their business. Addressing a conference in city, Rajashekhar Reddy, founder director of Labtalk.in said that city has hundreds of diagnostic laboratories. Barring few like Vijaya Diagnostic Centre, Apollo Laboratories, Elbit, Tapadia, Lucid, Pathcare, rest are small and unorganised and don't have bandwidth to reach out to people across the city.

LabTalk integrates little over 700 big, medium, small and non branded diagnostic labs spread over the city. “Most people are unaware of the facilities that a particular laboratory is providing. They are unsure of the branches and their locations. The main intension of launching LabTalk is to make people aware of the facilities, locality, price and various branches that are available with particular diagnostic center, for a preferred test in the city,” he said.

People who have the access to internet can log on to www.labtalk.in and can fix an appointment online, choosing the test, the diagnostic lab, area and the preferred time. The patient’s details are to be filled in and an appointment is fixed immediately.

The patient can also find the different tests available at that particular center and the price for availing that test. People who don’t have access to internet can call the toll free number 1800-3010-4466 to get their queries cleared. “The various packages available at the centers are also made available in the website. At present we are partners with eight diagnostic centers in the city, we hope to spread this chain,” Reddy added.We would like to help consumers save money on lab tests. Also offer them right packages so that many diseases can be prevented at initial stages.

It will be a single source ready reckoner for diagnostic laboratories in the city. Customers can explore them, study their services, compare rates and book service online. Salient features of LabTalk include employee assistance for booking and consultation; home sample collection, offers, online reports etc.

This business model is new. It is the first time in both Telugu states that the online aggregating business is now spread to diagnostic services, as prevention is given more importance than cure, the promoters are confident of business prospects. It will also enjoy first mover advantage.

The diagnostic business in India is worth Rs .30,000 crores ($ 5 billion) and several lakhs of tests done every day. The diagnostic business in city is estimated to be around 1000 crore and is growing at a rapid rate of 12 to 15 per cent, as people and medical fraternity is preferring evidence based treatment.

Diagnostic labs in city conduct nearly 5000 different kinds of tests and almost five lakh tests are performed in city every day. Hence an aggregator like LabTalk is most important and need of the hour, said Rajashekhar. But, what is so surprising us most of these labs are unorganised. Don't have accreditation. Our endevour is to make them tech savvy, professionalise their service and take those services to customers and help them do more business, he added.

It saves time, energy and efforts for the patients and their family members, he added. We anticipate a business worth Rs.1crore in first year and in next five years we will achieve a business turnover of Rs. 25 crores, added Rajashekhar. Diagnostic labs aggregation is a proven model. Already few players like Healthion, Practo, 1mg formerly Healthkart Plus are operating in certain pockets and are said to be doing well.