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Pay-per-use the new model for med-tech firms in India

Apurva Venkat  |  Bengaluru 

Medical technology start-ups are beginning to shift to a pay-per-use model for their diagnostic devices as they look to gain acceptance in a crowded Indian market. These start-ups have been able to convert hospitals and clinicians into customers with the lure of not having to make a large initial investment to buy the device, but only smaller monthly payments. Several med-tech start-ups are now switching to a pay-per-use model, with TRICOG, Cyclops and BPL being among those that have seen some initial success. While Bengaluru-based Cyclops' device that can diagnose vertigo based on ...

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Pay-per-use the new model for med-tech firms in India

Medical technology start-ups are beginning to shift to a pay-per-use model for their diagnostic devices as they look to gain acceptance in a crowded Indian market.These start-ups have been able to convert hospitals and clinicians into customers with the lure of not having to make a large initial investment to buy the device, but only smaller monthly payments. Several med-tech start-ups are now switching to a pay-per-use model, with TRICOG, Cyclops and BPL being among those that have seen some initial success.While Bengaluru-based Cyclops' device that can diagnose vertigo based on eye expression costs half as much as imported devices, the company found more takers for its subscription model. Also, since the data collected through tests were now accessible to Cyclops, it is now focusing on early detection rather than diagnosis."For a start-up to offer a pay-per-use model, the advantage is that the access to the data remains with the company. When I have all the data, it is much easier to Medical technology start-ups are beginning to shift to a pay-per-use model for their diagnostic devices as they look to gain acceptance in a crowded Indian market. These start-ups have been able to convert hospitals and clinicians into customers with the lure of not having to make a large initial investment to buy the device, but only smaller monthly payments. Several med-tech start-ups are now switching to a pay-per-use model, with TRICOG, Cyclops and BPL being among those that have seen some initial success. While Bengaluru-based Cyclops' device that can diagnose vertigo based on ... image
Business Standard
177 22

Pay-per-use the new model for med-tech firms in India

Medical technology start-ups are beginning to shift to a pay-per-use model for their diagnostic devices as they look to gain acceptance in a crowded Indian market. These start-ups have been able to convert hospitals and clinicians into customers with the lure of not having to make a large initial investment to buy the device, but only smaller monthly payments. Several med-tech start-ups are now switching to a pay-per-use model, with TRICOG, Cyclops and BPL being among those that have seen some initial success. While Bengaluru-based Cyclops' device that can diagnose vertigo based on ...

image
Business Standard
177 22