Meddy, a doctor booking platform founded in 2016 has raised a $2.5M in Series A round to scale up its operations in the UAE.
This consumer-facing platform helps patients find the best doctors and book appointments with them. It allows them to find doctors best suited to their needs based on a wide array of filters and patient reviews.
Meddy also provides a suite of products to clinics and their marketing teams to manage bookings, patient reviews, and analytics.
Haris Aghadi, CEO at Meddy, said “In the last 6 months, we have more than doubled our bookings and provider network in the UAE. We are excited to have more fuel to keep working on our mission to help patients make informed health decisions”
Meddy has already on-boarded major healthcare providers such as NMC, Zulekha Hospital, American Hospital, Al Zahra Hospital, etc. to provide patients the widest range of doctors to choose from.
Meddy has facilitated more than a hundred thousand bookings to date, generating over $50 million in billings to hospitals and clinics in Qatar and UAE.
In an interview with Aghadi, AMEinfo asked and received more insights on the following 5 questions:
1-Can you provide a complete list of backers, their location and their share of investments for the Series A funding?
- Modus Capital (NYC)
- Kasamar Holdings (Abu Dhabi)
- Innoway (Dubai)
- QSTP (Qatar)
- Dharmendra Ghai (Health Tech Angel, Global)
- Several other angels
2-What is the key behind your growth in terms of bookings, i.e. what needs does the business fulfill?
Meddy offers patients a convenient way to find all the information about a doctor/clinic without having to manually call several clinics to find that out. For example, imagine you want to find a female dentist, who speaks French, is located in Business Bay area and accepts Axa insurance. One way is to manually call several clinics to find that information. Or you could opt for a smarter, easier way by using Meddy, which enables you to not only perform that search under a minute, but also check the feedback of other patients, before making an appointment with the doctor of your choice. We enhance access to healthcare information so patients can make informed healthcare decisions.
3-Can you provide a breakdown of your source of revenues?
4-What healthcare savings in terms of time and finding the right healthcare services are patients benefiting from?
From our research we found that patients, on average, do 2-3 visits before they settle down with a doctor they like. This is due to various factors such as language barriers, bedside manners of the doctor, gender preference and proximity, among others.
Another reason is patients are more willing to shop around, because most of them have health insurance, which means they are not too concerned about consultation fees. They want to find the best doctors under their insurance network. Imagine how inefficient this is in terms of time and money spent on unnecessary consultation visits. These costs are covered by the insurance companies who end up covering for these visits. However, to recover that cost they eventually hike their annual insurance premiums, resulting in employers having to pay more for insurance. As you can see, these inefficient methods of finding the right healthcare provider leads to a vicious cycle that makes the entire healthcare system inefficient and more expensive.
By using Meddy on the other hand, patients can instantly find the right doctor based on their criteria and are usually very satisfied with their first visit itself, meaning they are less likely to spend time searching for a physician they are happy with. According to our estimates we have saved over $30 million in unnecessary consultations to the doctors.
Our mission is to help healthcare providers attract new patients and improve patient experience. We improve their online presence by focusing on quality content and building modern consumer products to make it easier for patients to find information and book appointments with them. We take care of their online presence so they can focus on what they are good at – providing outstanding care to patients and improving their lives.
– Our aim is to drastically increase our provider network in Dubai and Sharjah and also launch in other Emirates.
– In order to cater to the increasing demand, we are aggressively hiring across all the roles.
– We recently launched Hakeem – a new healthcare blog to provide patients with quality and relevant healthcare information. Quality content has been one of our core strengths and we’ll be doubling down on it to provide patients even more information they need to make an informed health decision.
– We are also investing heavily into our product and engineering teams to improve application performance, so patients have the best possible experience using our products.
– We will also be launching new products in Q1 that will drastically enhance the patient experience when they visit a hospital/clinic.