Brand in Focus | AffordPlan
Affordplan is flourishing in the intersection of healthcare and finance to both improve affordability and institutionalize preventive care.
Affordplan is a new-age fintech operating on the cusp of healthcare and finance. Headquartered in Gurgaon, Affordplan was born with a vision to solve for India’s healthcare - improving access by improving affordability. Its unique flagship product - Affordplan Swasth is a bouquet of offerings tailored for healthcare providers as well as healthcare seekers. Currently partnered with 150+ hospitals across the country, Affordplan has an active footprint in 20+ cities with lakhs of patient families as its patrons.
The idea driving Affordplan has always been to reduce the gap between healthcare providers and healthcare seekers through financial accessibility and affordability. With Affordplan, the idea is finally taking shape for all stakeholders. Healthcare providers can enjoy increased per-patient revenue realization, while healthcare seekers can enjoy reduced medical bills through a full financial stack of products.
Through its flagship product Swasth, AffordPlan extends a full stack of financial services to patients that allows them to save up to 15-20% on their medical bills with an Affordplan partner hospital.
Patients get access to a YES BANK-backed prepaid wallet upon signing up. Payments made through Swasth towards doctor visits, lab tests, diagnostics, as well as medicine purchases, earn the patients cost savings that can be used for subsequent medical purchases.
This is a single payment platform that also allows patients to create goal-based IPD plans for elective treatment, allowing them to pay in smaller installments ahead of their treatment while earning additional financial savings on their treatment cost.
Some of them are…
Affordplan Swasth allows a patient to save up to 15% on their out-of-pocket expenses at the OPD visits including doctor consultations, lab tests, and medicine purchases.
Hospitals, on their part, can help create better patient journeys with Swasth in the form of tailored offers on preventive check-ups, ongoing treatment regimes, and consultation. The Swasth platform also allows hospitals to take timely feedback from their patients while helping drive more efficient, contactless payment experiences.
“With 5 years of working with healthcare providers and seekers, we've been able to champion last mile delivery with hospitals and patients alike. This gives us a unique edge. We like to pride ourselves on being a player that is enabled by tech but driven by people and insights” says CEO Aditya Sharma, capturing the brand's uniqueness succinctly.
Vision, Mission, Philosophy
Affordplan’s vision is to make healthcare more accessible and affordable using technology.
Healthcare finance has been limited to medical loans and medical insurance for the longest time. There is a glaring gap as far as out-of-pocket expenses are concerned and there aren't many players that are addressing this. Healthcare finance or payments remains largely untouched owing to a disorganized market and complexities of the value chain both on the demand and supply side. Affordplan attempts to fix this through technology, people & partnerships
Brand Leadership – a brief profile
Affordplan is ably led by Aditya Sharma, the Chief Executive Officer at Affordplan. He is a graduate in Business from the prestigious St Xavier’s College in Kolkata and received his MBA from University of Lancaster, UK.
Aditya brings vast experience across investment, retail and healthcare sectors having dabbled in Marketing, Operations, Strategy, and P&L. As Partner at some of India’s reputable fund players, he’s held investor positions in healthcare and other impact-led initiations.
The disruptive headways engineered by the brand so far has been acknowledged across frontiers. Some of the recognition and accolades flying-in their way from all quarters are…
Affordplan endeavors to build a unique healthcare distribution network across all healthcare delivery systems in a bid to revolutionize finance and payments in the country.
There are products that endeavor to take these interventions to the heart of India. Community wellness & Insurance happens to be one such endeavor along with flexible credit.
Affordplan is expected to grow at CAGR of >100% for next three years and will increase its footprint from current base of 20+ cities to 75+ cities with more financial products which will help Indian consumers bring down their cost of healthcare.
“Citizen welfare is the cornerstone of any country’s well-being and prosperity. Healthcare plays perhaps the most critical role if we are to achieve sound growth and prosperity. Unfortunately, healthcare inflation and expenses are soaring. The need of the hour is for the government and private sector to use technology and finance and find a way to focus on not just curative but also preventive care. We at Affordplan remain committed to this cause”
*This story is published by VOH team.*
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