LabSmart Healthcare Technologies: Leveraging Technology to Help Diagnostic Labs Offer Seamless Diagnosis Experience

Abhishek Srivastava,   Founder & CEO

Abhishek Srivastava

Founder & CEO

The modern healthcare service largely functions around proper diagnosis. There has been a meteoric rise in the healthcare services as well as facilities, resulting in the rise in the number of diagnosis centers across the country. While the traditional diagnosis procedure has been some how effective, receiving the report usually gets delayed resulting in healthcare delays. Even there has been less market penetration when it comes to remote places across the country. However, the continuous evolution in technology, as well as Healthcare, has allowed many organizations to set up their online diagnosis setup using the SaaS delivery model. Even the SaaS-based online diagnosis model has been pretty seamless with the diagnosis reports reaching the doctor directly over the internet and thereby helping in fastening the healthcare procedure.

Keeping the present growing market for SaaS-based lab setups in mind, Abhishek Srivastava founded LabSmart Healthcare Technologies in 2019 and has been providing software solutions to diagnostic centers as well as pathology labs, both nationally as well as internationally. The marque product of the firm, Lab Smart is a SaaS platform that is used in India and abroad by over 800 laboratories. More than 1500 users use the application daily to make their business operations efficient. The firm aims at providing high quality affordable solutions to small and medium-scale laboratories and has developed the software keeping in mind the

needs of the diagnostic labs in the Indian healthcare market to reach the labs located even in the tier-3 towns and provide the quality software.

Abhishek’s curiosity about the venture started in his early college days as his father has been running a lab for the last 30 years. However, there were several operational issues owing to the manual working methodology adopted including manual reporting, which prompted Abhishek to learn the technology and then first build a pilot version of the web based app. The pilot version was taking care of Radiology reporting and ran for a year. For establishing networking between the 4 lab computers, Abhishek opted for raspberry PI. However, due to Raspberry Pi’s low production rate, there were issues of data corruption. That was the time Jio came into the market and the internet suddenly became so inexpensive and accessible. Based on one of his cousin’s request, Abhishek opted for cloud and then took some 2-3 years to fix the bugs, robust the application, while continuing the on boarding of clients.

The motive behind the foundation of LabSmart was to fill the huge gap in the technology used by labs across the country and to provide them with effective software solutions

Coming to the service part, Lab Smart is a SaaS-based online subscription platform for Pathology labs and Diagnostic Centers which provides diagnosis reports to patients and doctors online. The firm handles the entire lab operation with the greatest care while allowing multiple users such as doctors, technicians, and receptionists to work together. QR-coded lab reports are provided to patients that provide access to the digital copy of reports and also helps in validating the report. The LabSmart DocsApp provides live access and historical access to patients’ reports and investigations to the doctors associated with labs. The online nature of the products ensures accurate as well as on-time report delivery.

With an employee strength of 11, the core team of LabSmart comprises Abhishek Sirvastava (Founder & CEO), Deepa (Lab consultant), Sachin (UI expert and Design Lead), Opeyemi (Developer), Rinku (Product Designer), and Renuka (Lab consultant). Coming to revenue, Lab-Smart is self-sustainable, profitable, and bootstrapped with consistent revenue.

The firm has more than 800 clients in India and has a global presence across 7+ countries with a client retention ratio of 80-90%. In terms of future road maps, the firm is aiming to acquire a larger market share, especially in tier 3 cities.