Hyderabad-based Multiplier Solutions helps hospitals generate revenues

Hyderabad-based Multiplier Solutions looks to break-even by 2018; to raise more funds.

By Author   |   Published: 4th Aug 2017   10:30 pm Updated: 4th Aug 2017   10:52 pm
Multiplier Solutions

Hyderabad: The advent of digital marketing has become all-pervasive however the healthcare sector has been still struggling to get a hold of this. Being highly capital driven sector, healthcare has not concentrated much on marketing for a long time. Thus, to fill this void Hyderabad-based Multiplier Solutions was formed. Started by Saumya Prakash and Vikram Kumar, the company provides machine learning and artificial intelligence-based solutions for hospital chains, diagnostics centres and clinics to improve their patient diagnostics and generate more revenues.

Launched in 2012, the company’s primary focus has been to provide revenue solution for healthcare by providing analytics driven marketing solutions. The product analyses patient data and integrates it with machine learning and cloud technology and provide customised marketing to patients. On the one hand, while this helps in increasing revenues for the hospital it also helps patients get specific information about their health.

Speaking to Telangana Today, Prakash said, “I was earlier working for big corporates for their financial vertical and Vikram (who is also my husband) has been part of analytics in many technology companies. However, I saw an opportunity in the healthcare space as the fintech space was getting stagnant. That is when we decided to take the plunge and start something of our own.”

The company recently raised $1.5 million from Norwest Venture Partners which it plans to use to get into international markets like Middle East and Latin America. It also plans to get into newer technologies like chatbots for better patient engagement and also for internal marketing analytics.

“We are targeting a client base of 100-150 by end of this year from the current 40 clients. We are also looking at getting into newer sectors in the healthcare space like pharmaceuticals and others,” Prakash said. The company works with 7 out of top 10 hospital chains of the country including Apollo Hospitals, Columbia Asia and others.

Without disclosing the seed investment, Prakash added that Multiplier plans to go for its next round of funding in the next 12-18 months and also look at break-even in the next one year.