Practo’s hospital management system, Insta, announced its transition to the SaaS model. The company aims to improve its integration, enable timely upgrades, and establish ease of use at four times the cost compared to conventional IT infrastructures.

The development comes as a part of the company’s growth and profitability strategy and is expected to impact the topline with a 25 per cent increase in healthcare centres. Insta’s growth strategy includes going deeper into the Middle East and Indian markets by meeting local needs. The move will also allow hospitals to increase operational efficiency by 20–25 per cent while minimising revenue leakage, said the company.

Balancing growth

“We remain committed to our goal of balancing growth with profitability. This transition to SaaS is a strategic step in that direction as it helps us anticipate revenues, shorten sales lifecycle, and deepen integration, thus, creating a more predictable ecosystem for both growth and profitability. We are the leaders in the Middle East market and will continue to invest in that market, to grow both market and revenue share. The Indian market is ripe for SaaS; it provides much-needed agility that healthcare players are looking for, thus, giving us the confidence of further expansion, in a shorter period of time,” said Abhinav Lal, Co-founder, and Chief Technology Officer, Practo. 

Since its acquisition, the company claims to have grown 368 per cent in terms of the number of hospitals and clinics using the service and is clocking a 25-30 per cent revenue growth year-on-year, over the last two to three years.

Advantages over traditional systems

Vikas Kumar, CEO, Insta, said, “SaaS-based cloud solutions have many advantages over traditional systems, such as lower costs, better data security and interoperability, and easier access to information and data sharing.”

Insta is associated with hospitals including Apollo Health and Lifestyle, Ovum, Bansal, Omni Hospitals in India and Emirates Healthcare, Right Health, Etihad Airways Medical Centre, VPS- Lifeline, VPS-Lifecare, and Valiant Clinic in UAE amongst others.

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