HealthCareMagic, a health and wellness portal, which I reviewed earlier, has raised series A funding of $2.5 million from Accel India. The startup has around 50 employees, of which 34 are doctors.
The funding will be used to improve infrastructure, sales & marketing and call center.
That is great news !! Its great to see startups execute so well and move to the next set of challenges ! VC funding is definitely a great validation of their idea and execution.
via VCCircle
Some time back, I had a small discussion with Shekhar Palash-the guy who seems to be behind this venture.
I too had brought up with him, the issue of reliability of such reviews. Myself and one another member who participated in that thread(www.thinkdigit.com/forum/showthread.php?t=79924), we being in medical profession know how wrong patient reviews can be. He replied that they would be scrutinizing each and every review by verifying identities of both parties involved.
Also I am not sure how honestly the operations will be carried out. Most large-scale private hospitals cannot survive without “marketing”.
He also said that advertising from pharma companies will be their major source of income. But I doubt if that will stand true because pharma is doctor-promoted industry. Patients mostly have to buy those brands prescribed by the doctor.
Overall, I feel this is just gonna made it a commodity! Lets see how it works!