BestDoctor BestDoctor
Since 2015
Russia
Central Federal District of the Russian Federation
Moscow
Vasilisa Kozhina street, 1
Top managers:
Wolfson Vlad Sergeevich
Content |
BestDoctor is a healthcare company that develops technology-based insurance and service products for people and for business. According to BestDoctor representatives, the company was "the first in the country" to offer corporate medical care under the self-funding model.
As of February 2019, the main product of BestDoctor is technological VHI (voluntary health insurance). for companies. A single IT platform allows the user to sign up for the clinic to consult a doctor online, issue an electronic medical record. Corporate clients receive medical expense analytics and can manage the medical program online.
History
2022
Negotiations with Rosbank Insurance on the integration of companies
On November 18, 2022, the insurance company BestDoctor and Rosbank Insurance, part of the Interros group, announced that they were negotiating integration in order to create a representative on the Russian insurance company market capable of offering their customers the largest range of high-tech products and services. Read more here.
Interros acquired a stake in the BestDoctor VHI service for legal entities
On October 6, 2022, BestDoctor announced an investment of 1 billion rubles. A group of investors has invested in the VHI service for legal entities, including Vladimir Potanin's Interros. Under the terms of the agreement, Interros buys a non-controlling stake in BestDoctor with the ability to introduce its representative to the company's board of directors.
The financial terms of the transaction were not disclosed. According to Sergei Suverov, investment strategist at Arikapital Management Company, in the previous round, BestDoctor could have estimated $90 million.
{{quote 'If the transaction occurred according to a previous assessment of the project, then the future share of Interros will be about 20%, "Suverov said in a conversation with RBC. - The deal shows that the market is alive and there is a positive trend to regain interest in tech assets. }} According to Arthur Shubaev, vice president of Advance Capital, the current deal was supposed to take place according to the assessment of the round in which Winter Capital participated.
According to the CEO and co-founder of BestDoctor Mark Sanevich, Interros' investments open up opportunities to scale into new segments and synergies with the group's assets for both BestDoctor and BestInsure. Interros CEO Sergei Batekhin expressed confidence that as a result of the partnership, BestDoctor will take a leading position in the VHI market and in the insurance market as a whole.
BestDoctor plans to strengthen the medical ecosystem of the VHI product by the end of 2022 and develop a line of insurance services under the BestInsure brand. These will include critical illness insurance, property insurance, accident insurance, travel insurance, etc. Recently, the company launched real estate insurance products created with Avito and other partners.
2021
Purchase of the insurance company "Reserve"
At the end of October 2021, it became known about the sale of the Reserve insurance company to the BestDoctor medical tech service. Cyprus Rafulia Holding Limited, which owns Bestdoctor LLC, sent a request for approval of the transaction to the Federal Antimonopoly Service. Read more here.
Raising $26 million in investments
On June 10, 2021, it became known about the attraction by BestDoctor of investments in the amount of $26 million from the fund Winter Capital Partners (the largest investor is Vladimir Potanin's Interros), the Swedish VNV Global fund and the Austrian insurance company Uniqa, which is part of the international group. Raiffeisen Bank International Also invested in the project funds, and AddVenture Target Global LVL 1.
According to Forbes, citing the founders of BestDoctor, the company intends to spend the funds on creating a health management platform that will combine all BestDoctor products and allow it to receive better treatment and proactively reduce the risks of developing diseases.
By June 10, 2021, BestDoctor closed four rounds of funding, which raised a total of $34.1 million. According to the results of the fourth transaction, the startup was valued at $90 million.
By the end of 2021, the company plans to enter the b2c market, expand the line of VHI products for the b2b market and scale the "Virtual Clinic." In the next two years, BestDoctor wants to enter the international market, and by the end of 2022 to reach revenue of 7 billion rubles.[1]
 | Now we are moving towards a new goal and building a platform with the best medical services that can be entrusted with any health-related issues... A new type of medicine, in the center of which will be the patient and his needs, is a need not only for the Russian market, but also for the global one. That is why in the next two years we are going to enter the European digital health market, growing by 28% annually, where we already see the demand for such a product, "said Mark Sanevich, CEO and co-founder of BestDoctor in June 2021. |  |
By this time, BestDoctor has more than 140 client companies: Mail.ru Group, Megafon, Superjob, ABC of Taste, Lanit, Litres, Samokat, Prisma Labs, Sports.ru, etc.
2020
Second place in the ranking of the largest medical tech companies in Russia
In July 2021, Smart Ranking presented a rating of the largest medical tech companies in Russia. The second place in 2020 was taken by BestDoctor. Read more here.
Raising $4.5 million in investments
On July 20, 2020, it became known that BestDoctor had attracted about $4.5 million in investments. Venture funds AddVenture, Target Global and LVL1 co-founder of VKontakte Lev Leviev have invested in the health insurance service. LVL1 has previously invested in BestDoctor.
According to Forbes, citing one of the founders of BestDoctor, Mark Sanevich, the startup will spend the money received from investors on developing technologies and creating a platform for health management, as well as "expanding sales, focusing on new product segments."
According to Sanevich, the volume of the global private health insurance market in 2019 grew by 20%, and in Russia it amounted to 180 billion rubles. Such figures may indicate the demand for the BestDoctor product and the formation of a new habit among consumers, he said.
| | During the pandemic, the need for online medical services has increased, and our business has grown greatly. Now we will focus on creating a health management platform based on health insurance, - added the co-founder of BestDoctor. | |
Maxim Medvedev, Managing Partner of AddVenture, commenting on investing in BestDoctor, said the following:
| | As part of the new round, we plan to maintain focus on the product and customers, gradually increasing the pace of sales. This year, we aim "modestly" to grow 3-4 times compared to 2019. | |
As of July 2020, BestDoctor's clients include more than 100 companies: Hoff, Ostrovok.ru, Superjob, ABC of Taste, Lanit, Litres, Scooter, Prisma Labs, Sports.ru and others. BestDoctor serves more than 30 thousand users and cooperates with more than 11 thousand clinics throughout the country. The volume of current BestDoctor contracts exceeds 600 million rubles.[2]
2019
Raising $3 million in investments from Target Global and investors
On May 29, 2019, BestDoctor announced the closure of the second investment round in the amount of $3 million. The lead investor was the international venture capital fund Target Global, in addition to him, the Arthur Shamalov Ascent Foundation and AddVenture, as well as a group of business angels, participated in the round .
As of May 2019, BestDoctor is engaged in technological products in the field of health insurance. BestDoctor's customer savings average 23%, NPS 54%. Employees of client companies receive a 24-hour medical concierge service, a personal account and an application with all the necessary information, consultations and an online appointment with specialists. BestDoctor earns at the expense of a fixed fee for each attached patient, which averages 4,500 rubles.
During 2018, the company increased revenue 5 times and began working with such clients as Modulbank, EVOTOR, Netologiya and others. BestDoctor customers have access to all benefits applied to VHI contracts. In total, the company provides assistance to more than 10,000 users and cooperates with more than 2,000 clinics across the country. The volume of BestDoctor contracts as of May 2019 is 200 million rubles.
The company predicts the medical budget of customers using a "smart" algorithm, writes off the funds for the services provided every month and provides a report on how much money was spent on medicine. The remaining funds are returned to the company account or transferred to the next service period. Such a model eliminates conflicts of interest between the insurer, the client and the clinic, and minimizes inappropriate costs. For customers who want to avoid going beyond the budget, the company provides service according to the classic VHI model. The partner who insures the risks of BestDoctor clients is VSK Insurance House.
The company plans to use the funds raised to develop the technology platform and scale sales.
| | "Insurance remains one of the most conservative industries in terms of service. We want to change the situation and make VHI a convenient and effective management tool. health Our goal is to create an ecosystem within which a person can conveniently solve any medical issues. Working in this direction, we plan to strengthen our own technology platform. " | |
| | "BestDoctor fits well with the concept of our fintech foundation. Technologies have so far entered the insurance field weakly: everything here still rests not on mobile applications, but on live calls. Therefore, we see huge potential for innovation, especially in health insurance, where client service is needed at the level of operational interaction with the client. The app has every chance of scaling in Europe. According to the experience of our portfolio insurance and medical companies, the market in Germany and Spain is experiencing the same problems. This is a good entry point for the Russian service. " Olga Shikhantsova, investment director of fintech fund Target Global | |
Prior to the current round, BestDoctor attracted investments from AddVenture and a group of private investors in October 2017.
{{quote 'author =' '
Maxim Medvedev, Managing Partner of AddVenture
"'|" We are reinvesting in BestDoctor as we see very good dynamics across all key areas: high NPS from users, positive feedback from HR directors, high win-rate from tenders and 98% rollover rate. The company has great potential in Russia, while the business model is well transferred to other markets. "}}
Cooperation with Insurance House VSK
On April 23, 2019, BestDoctor announced that it Insurance House VSK had signed a partnership agreement with "." As part of the cooperation, the parties plan to expand the voluntary product line medical insurance and strengthen their positions in this market.
The companies plan to launch VHI for individuals with a 24-hour concierge service, online support for insured persons and access to any clinics through a differential franchise.
Companies are already launching joint projects in risky corporate health insurance programs. Protecting customers from unforeseen medical expenses is a logical step that complements BestDoctor's offering.
| | author '= Mark Sanevich, CEO and co-founder of BestDoctor ' BestDoctor's calculation accuracy is 97%, but there are customers who prefer to insure the risk of exceeding the projected budget. | |
Current BestDoctor customers are already saving on employee health care through a dedicated algorithm based on large data analysis, giving the opportunity to offer cost-effective and technological voluntary health insurance. As a rule, BestDoctor customers are not out of budget, but now this risk is insured. Also, customers receive the same tax breaks as when buying a classic VHI.
The differential franchise system, previously developed by BestDoctor, allows employees of customer companies to use medical services in clinics of any class on favorable terms. In fact, users receive an online showcase of medical services that can be sorted taking into account many factors (price category, reviews, etc.) with a large selection of available clinics.
2018
As of March 2018, BestDoctor (Bestdoctor LLC) is developing an online corporate medical service of the same name, which helps organizations and their employees receive medical care and save on voluntary health insurance policies.
2017: Attracting 32 million rubles of investments
In 2017, BestDoctor raised its first investment in the amount of 32 million rubles from the AddVenture venture fund and a group of private investors.
2016: Participation in IIDF and Bayer acceleration programs
In 2016, the BestDoctor team under the leadership Mark Sanevich passed the acceleration program IIDF and the international acceleration program " Bayer Grants4Apps."
Notes
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