Telangana’s Health Minister Dr. C. Laxma Reddy
unveiled www.labtalk.in, a first of its diagnostic laboratories aggregation platform here in city today. It is a unique business model of Hyderabad’s Healthcare Start Up, Labtalk here in city in a function held today morning in a city hotel.
The Health Minister Dr. C. Laxma Reddy also unveiled an App—Labtalk, an Anroid Mobile Application and a Toll Free number 1800-3010-4466 of the same.
Speaking on the occasion Dr. C. Laxma Reddy laueded efforts of the Health Care Startup, Labtalk for coming out with a first of its kind diagnostic laboratories aggregation platform. He congratulated them. He said it was the need of the hour. Awareness is most important. Preventive Health Checkups can save people from lot of health related problems in future. Healthcare begins with diagnostic and preventive checks. So diagnostic laboratories aggregation service will become most sought after service in future, he said.
Labtalk, Diagnostic Aggretation services will be useful to those who don’t have time to go to laboratories to get preventive tests done. It save time and effort, observed Dr. C. Laxma Reddy.
Speaking on the occasion, Dr. KVVR Lakshmi, Director Laboratory Medicine of Centuy Super Speciality Hospitals said, aggregating diagnostic laboratories is the service to the society. It is an innovative service. Lab test is the first step in health care, Dr. Lakshmi said.
Hyderabad's Healthcare StartUp Labtalk becomes one of the very first diagnostic laboratories aggregator in South India. And it enjoys first mover advantage too.
Welcoming the gathering, Rajashekhar Reddy, Founder Director of Labtalk.in said 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 integrated almost all the major diagnostic labs in the city. These include Vijaya Diagnostic Labs, Tapadia, Lucid, SRL Diagnostics, Medcis, Elbit Medical Diagnostics Ltd, Lucid, India's leading and most reputed diagnostic chain and others. Only NABL ACCREDITION LABS are aggregated as of now. National Accreditation Board for Testing and Calibration Laboratories (NABL) is an autonomous body under the aegis of Department of Science & Technology, Government of India. NABL has been established with the objective to provide with a scheme of laboratory accreditation through third-party assessment for formally recognizing the technical competence of laboratories.
Soon more labs will be integrated. The city is said to be the home for over 700 Diagnostic Laboratories. We will only integrate those credible labs which are credible and known for reliable diagnostic services, Rajshekhar informed.
Our objective behind Labtalk is to bring unorganised diagnostic labs on to one single plat forms, widen their reach and improve users experience with their services, so that they go for preventive tests. Labtalk is an Initiative of Preventive Healthcare. Labtalk's focus is to give the user the choice of choosing the Diagnostic Canter with affordability, accessibility, Quality and Transparent Service.
It Provides Technology platform with home sample collection and delivers and saves the reports online hence saving users valuable time and money at his convenience.
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.
LabTalk gives you access all commonly prescribed medical lab tests and blood analyses at consumers doorstep with top Diagnostic Canters having decades of experience for accuracy and reliability.
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 crore ( $5 billion) and several lakhs of tests done every day.
The diagnostic business in city is estimated to be around 1000crore and is growing at a rapid rate of 12 to 15 per cent, as people and medical fraternity is prefering 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 endeavour 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. 25crore 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.