Comments
Healthcare start-up, Even has raised $15 million in funding from Alpha Wave and Aspada (Lightrock).
Other existing investors in the company include Khosla Ventures, Founders Fund, Lachy Groom, Palo Alto Networks CEO Nikesh Arora, CRED CEO Kunal Shah, and DST Global partner Tom Stafford.
“India’s fee-for-service healthcare model effectively forces patients to go to the doctor only when an illness reaches a critical stage. In other cases, patients are advised by hospitals to admit themselves for 24 hours to become eligible for insurance payouts, which may or may not happen,” the company said in a statement.
It added, “Patients, hospitals, and insurers work in silos with different and misaligned incentives creating huge mistrust at each stage of care. Even wants to bring back focus on patient care and build a trustworthy healthcare delivery model where a successful health outcome is also a profitable one.”
Matilde Giglio, Co-founder, Even said,“Upon onboarding and throughout a member’s journey, our doctors collect and study important information about members’ health and suggest ways to mitigate risks. Comorbidities like diabetes, high cholesterol, high BP, obesity are quite common in India, and are often uncontrolled due to reluctance in visiting a doctor and not getting health checks unless there are symptoms.”
Giglio added, “Just to set more context about how important this is, 50 per cent of users found out for the first time that they had diabetes during our onboarding health check-up.”
Tejasvi Ravi, Healthcare Lead at Lightrock India said, “We are delighted to see the traction that the Even team has demonstrated since their launch in 2020. Even is a revolutionary model that integrates care delivery and financing, ensuring that members make the best health decisions for themselves with the support of high-quality doctors incentivized to deliver patient outcomes.”
Ravi added, “We are very excited to partner with Even as they continue their journey of encouraging Indians to adopt healthy behaviours.”
Company profile
Headquartered in Bengaluru, Even is a registered clinical establishment and healthcare provider. Its monthly subscription allows its members to access a personalised team of doctors, diagnostic tests and hospitalisation cover of up to ₹1 crore.
Its experienced medical team offers comprehensive preventive care to detect critical illnesses early on and improve clinical outcomes through evidence-based and strategic interventions.
Even was founded with the mission to simplify healthcare in India which poses challenges such as lower penetration of health insurance and fee-for-service care that puts a disproportionate financial burden on people, it said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.