Loop Health
Loop Health, based in Maharashtra, India, is a healthcare company that combines high-quality primary care with insurance services for employers, serving over 500,000 members and partnering with more than 1,000 companies.
Services
Loop Health provides a variety of healthcare services tailored to the needs of employer-funded health insurance markets in India. These services include customized group insurance with competitive rates from trusted insurers and unlimited primary healthcare, featuring 24/7 free virtual consults with medical experts. Additionally, the company offers weekly wellness sessions focusing on activities like yoga, pilates, zumba, nutrition, and sleep. Their Employee Assistance Program emphasizes chronic care management for conditions such as diabetes, hypertension, maternity, and elder care, alongside mental health counseling and policy strategy design.
Healthcare Solutions
Loop Health positions itself as India's first Health Assurance company by addressing gaps in traditional health benefits. Their offerings include unlimited primary care visits at asset-light clinics and traditional hospitalization insurance. The integrated approach aims to provide comprehensive healthcare coverage, including doctor visits and telemedicine services along with hospital stay coverage. Loop Health's model not only covers employees' healthcare needs more holistically but also aims to lower insurance premiums by enhancing access to doctors and preventive care.
Partners and Reach
Loop Health has established itself as a significant player in the healthcare services market, serving over 500,000 members and partnering with more than 1,000 companies. The company operates primarily in India and South Asia but also offers services remotely, including partly remote options. With a specific focus on Pune, Loop Health serves 22 companies and 5,500 members, underscoring its growing influence and reach in the regional healthcare landscape.
Growth and Financial Metrics
Since its inception, Loop Health has demonstrated impressive growth, achieving $85,000 in ARR and experiencing 200% month-over-month growth during its time with Y Combinator's Winter 2020 batch. The company has processed over 80,000 claims and maintains a gross margin of 70%. Employers utilizing Loop Health’s services are charged $15 per member per year, with an additional $25 for prescriptions, lab tests, and hospitalization referrals. These competitive pricing strategies enable Loop Health to attract a diversifying client base.
Technology and User Experience
Loop Health leverages technology to enhance user experience and streamline healthcare management. Their mobile app, which is highly rated at 4.8 out of 5, allows easy access to healthcare and insurance services. It includes features like a 24/7 claims helpline and HR tools for managing benefits effectively. The HR tools provide functionalities such as policy management, easy enrollment, a claims dashboard, HRMS integrations, and monthly reporting. This technological approach supports Loop Health's mission to offer seamless and efficient healthcare services.