Practo already owns the demand — roughly 110,000 international visits a month on doctor pages. This is the plan to convert that demand into hospital admissions, and the P&L that follows — built all the way to EBIT, in ₹ lakh.
India is one of the world's top medical-value-travel destinations. Demand is large and growing, but today it leans heavily on a single source country — which is both the risk and the opportunity to diversify.
Bangladesh was ~75% of 2024 arrivals; medical arrivals fell 44% / 67% YoY in Nov / Dec 2024 on geopolitical strain. Diversifying toward GCC, Africa and Iraq is higher-value and more durable — exactly the geo-mix Practo's traffic can steer.
₹16.4 Cr revenue (FY24) · ~207K visits/mo · NABH-first marketplace, broad specialties.
~$3.5M ARR* · $600K pre-seed · AI cost estimator, 6,000 hospitals — closest to our thesis.
~$25M* · since 2007 · US/Canada → Mexico, India, Thailand; bariatric / dental / cosmetic.
~970K enquiries · #1 by verified reviews · Turkey / Korea / Thailand-led, broad.
Fortis MVT revenue ₹639 Cr (FY26); Apollo intl-patient revenue +28% YoY — but captive to their own hospitals.
~110K/mo non-India doctor-page traffic — targeted demand that rivals or exceeds most facilitators' entire site.
Most buy traffic and lack continuity-of-care. Practo generates demand and has 40L+ verified reviews + Health Feed.
A demand-gen engine plus the Assured verified network — neither of which rivals can easily copy.
Capabilities #2 and #3 (both 1/10) gate the two conversion ramps in the model. Fixing them is what moves admissions — and EBIT. #1 and #4 are strengths to leverage.
Keyword research per target geo, then build new localised landing pages per geo / procedure to capture and steer demand.
Build the funnel tech: OTP, telephony, locale & language, WhatsApp, and sharpened value-prop messaging.
Partner with a last-mile provider (visa, travel, translator) for a fee — with attribution designed in so leads don't leak.
Leverage the Assured network, and use medical tourism as the wedge into yet-to-hunt Super KAs (top-tier hospital key accounts).
#2 (tech) and #3 (partner) unblock conversion; #1 and #4 compound the upside but don't move it alone.
Partnering #3 is fast and low-capex — the trade-off is an ongoing fee + dependency.
If the partner owns the patient, you recreate the leakage. Own the relationship and the record.
Fold the last-mile fee into the P&L so EBIT reflects the true cost of capability #3.
A fully tunable P&L: traffic → leads → admissions → revenue → EBIT, with conversion ramping as the build lands. Inputs are deliberately conservative (1% page conversion; 1.5–2.5% lead-to-admission).
Practo is the only player that generates international demand instead of buying it — and already runs the Assured verified network. The opportunity is to close two conversion gaps and turn existing traffic into a profitable medical-tourism line.