Raghav Sehgal founded RxVault.in after spending crucial years in leading healthcare brands like Fortis, Indian Institute of Public health etc. RxVault, a product of Smart Square Technologies Private Limited helps organize health information. Be it prescriptions, reports or any other detail, it saves all in an organized manner and digitalize the hard copies. Apart from health sector, Raghav holds vital experience in different sectors including Finance & Retail.
As director and CEO of RxVault.in, he takes care of everything with his sheer knowledge and various skills including business planning, strategy and leadership. Studying at IIM Ahmedabad and working at Technopack, Seimens only added versatility to this young entrepreneur. It is his strength of mind and well planned business model that brought RxVault to a point of 13,000 users. Read more about him in this interview.
Please provide a brief overview of your product/ service.
RXV.co is a mobile app that enables patients to have 24×7 Instant & Live Video Consultations with doctors. Patients can also order lab tests and medicines, as per doctor’s digitally signed prescription, right from within the app. We are going to launch the app in mid-August with over 1,000 specialists from major hospitals, 200 pharmacies and more than 40,000 diagnostics testing centres across India as our healthcare partners for the app.
RXV.co is a product by RxVault, NASSCOM Award winning Electronic Health data management platform founded by alumni from IIM Ahmedabad, ISB & Delhi College of Engg. in 2013. Our client list include major players in healthcare sector, like Fortis Healthcare, Max Healthcare, Religare Wellness, CDC etc. who have data of their 20,000+ patients online with us.
What inspired you to build the above product/ service?
A pizza takes 30 mins to reach you when hungry. However, if you are not well, you can’t even reach a doctor in 30 mins. That is not acceptable and we intend to change the same. Everyone with a phone should have access to a doctor for basic advice 24×7.
What is your life mantra?
Live and Let Live
What was the most challenging part of your journey till now?
For me it was to get into “start up mode”. Coming from a corporate background, I was of the mindset of executing projects at a certain scale. I had to learn how to start up at a small scale and find innovative solutions to problems without having a project financing.
How did you overcome those challenges?
Learning from mistakes I made early on and not repeating the same.
Share some details about the investments that you have been able to fetch for the business till now.
Currently funded from own funds and internal accruals.
Tell us about your company’s attrition control practices.
People who work for early stage start up want to work to build something and create something. It is easy to motivate them to start. The challenge comes when motivation clashes with comfort of job stability and higher pay packages. We do our bit to guide our friends (not employees) working with us without any bias, be it going for a higher education or helping them with change in job profile internally.
According to you, what are the three qualities an individual must have to achieve success?
Perseverance, Faith in themselves and Ability to market
Which online tools/ services/ apps do you use the most and would like to recommend as well?
My work primarily involved MS Office. However, I use premium subscription of LinkedIn to get in touch with industry members in my circle.
Share any one habit which you think makes you more productive.
Making to do list before breakfast.
Share any one habit which you wish to change in yourself.
Have breakfast at 8am instead of 10am (and hence make the to do list at 7am and not 9am)
Answer in less than 50 words
One tip to success:
Success is rare in startups. It is said that over 95% of startups fail. I believe that half of the failures are because founders didnt push enough. If you push enough, and hear the market, you will know how and when to pivot. Quit when you dont want what is asked of you by market. Till then, keep pushing, for atleast 24 months.
One mistake you believe every individual must avoid:
Repeating previous mistakes
One most important lesson that you have learnt till now:
How reach from 0 to 1
What are your plans for next 3 years?
3 million users video consulting with over 200,000 doctors online
If you get a chance to start your career again what would you do differently this time?
Make more mistakes in lesser amount of time.
What are your top three getaway destinations ?
Office, Home, Café
Share a quote that inspires you the most
“The purpose of life is a life of purpose.” – Robert Byrne