Chennai, Jan 13, 2019 (Issuewire.com) - LIFEISAWESOME, India's first comprehensive and integrated non-physical health solutions company on Tuesday announced it has raised an undisclosed sum of pre-seed funding from a group of individual angel investors holding high net-worth within the healthcare industry.
Launched in May 2018 by Co-Founder and CEO Arjunvasun Ambigapathy, LIFEISAWESOME operates with a mission to reduce the non-physical health needs of individuals in India by 80595%, with the use of cutting-edge technology that blends reliable telephony system, secure cloud network infrastructure, and artificial intelligence algorithms for encrypted data processing, offering safe and discreet experience to its Care Consumers. One of the core objectives of LIFEISAWESOME is to reduce the huge disparity that exists between the availability of non-physical health interventionists that can effectively address an individual's mental, emotional, financial, psychological and social issues whenever it is needed the most. In line with its promise of offering a 'positively unique' experience to its Care Consumers, LIFEISAWESOME has built a comprehensive technology solution that combines cloud computing interface with a reliable telephone network driven by an artificial intelligence engine to handle sensitive data as mere numbers/codes. "The journey of our Care Consumers entails a unique process that blends human interventions with advanced communications at critical touch points where sensitive data handled is securely transferred between Care Consumers, Care Partners and Care Executives; or the LIFEISAWESOME Care Triangle. While our technology is unique to this industry, the value of care that we have demonstrated to date is yet to be demonstrated by web-based or app-based or even hybrid technology platforms.", said Arjunvasun.
LIFEISAWESOME estimates that the average costs incurred by individuals in managing certain chronic health issues to be extremely high, and totally unnecessary. It is established that the cause of most physical health issues is due to work-related stress, family-linked issues, relationship problems, addiction, excessive anxiety levels, and financial worries among other non-physical health issues. One of the conditions faced by individuals today is obesity, which affects nearly 23% or 6.72 million of the active workforce in India. Each day, more than 100 bariatric surgeries are conducted across various type of facilities, each costing an average of Rs.3 lakhs. The average treatment cost of the overweight/obese individual per year is around Rs.6465, which amounts to nearly Rs.17 billion in overall cost burden to the Indian economy. Indians spend on an average, Rs.18000 in managing hypertension or its related complications every year, which equates the total economic burden of managing this condition alone to be Rs.47.3 billion. The list clocks in higher values of an economic burden when considering other chronic lifestyle disorders such as diabetes, heart diseases, spondylosis, infertility, migraine and physical ailments that individuals are vulnerable to in the current competitive environment.
LIFEISAWESOME has estimated the total economic burden that is imposed on our economy for diagnosing and treating physical health disorders such as diabetes, hypertension, obesity, spondylosis, GERD, infertility, migraine and heart diseases alone to be at a median value of Rs.262.26 billion for a population size of just 16.52 million, the current active workforce based on 2017 estimates, or an average cost of Rs.15875 per patient per year. While the cost of hospitals and medicines for some of these conditions are covered through insurance, most of the individuals end up bearing the cost of managing their physical health issues as out-of-pocket expenditure or by taking a personal loan in case of emergency. Arjunvasun said, "It is an undeniable fact that attending to an individual's non-physical health issues could have been effectively resolved or prevented deterioration of an individual's physical health. Further, there is a stigma associated with disclosing or discussing one's mental/emotional/psychological/social/belief or other sensitive and personal issues with peers, colleagues, family, and friends. The burden of identifying the right therapists to speak to and the threat of exposing an individual's identity to third-parties or unnecessary online sources have led individuals to seek solutions that they can use in an effective and secure or best-in-class discreet scenario."
At a one-time subscription fee of Rs.150 to Rs.200 for a LIFEISAWESOME Care Package, which includes unlimited consultations with its pan-India Care Partner Network via the Connectline (+91-44-3959-2404), and smart features for better autonomy over controlling one's progress in non-physical health, the value of care demonstrated by LIFEISAWESOME is unmatched. In other words, a subscription to LIFEISAWESOME Care Package enables individuals to follow preventive care that focuses on eliminating stress, anxiety, and depression. Subscription to a LIFEISAWESOME Care Package has been shown to deliver over 95% savings in the annual costs that an individual could otherwise end up spending towards managing diabetes, hypertension, obesity and back pain, all of which tend to be stress-linked disorders. LIFEISAWESOME envisions the current non-physical health solutions marketplace to be worth over Rs.49.56 billion for the population size of 16.52 million or the current active workforce in India. "By investing in LIFEISAWESOME, we are excited to participate in a lucrative market, while taking a major responsibility to help our economy achieve over 90% savings on healthcare costs that individuals spend towards managing some chronic lifestyle disorders that could otherwise be prevented through the Care Packages that are offered by LIFEISAWESOME.", said one of the investors.
With an exponential increase in the volume of Care Consumers subscribed to its Care Packages, LIFEISAWESOME is planning to use the new round of funding to increase its presence and operations across various metros, especially Mumbai, Hyderabad, and Bengaluru. As part of its ongoing partnership with organizations, LIFEISAWESOME is offering white-labeled Care Packages that align well with the need for using secure and discreet non-physical health intervention to cope up with issues such as depression, anxiety disorders, addiction, relationship problems, financial worries, and physical ailments.
About LIFEISAWESOME
LIFEISAWESOME is India's first comprehensive and integrated non-physical health solutions available for individuals across sectors and strate of the society. LIFEISAWESOME operates with a mission to reduce the non-physical health needs of individuals in India by 80595%, with the use of a cutting-edge technology that blends reliable telephony network with secure cloud storage and driven by an artificial intelligence algorithm for processing sensitive data to offer safe and discreet interventions to individuals. LIFEISAWESOME Care Packages are bundled technology-enabled interventional platform that enables individuals, their friends/families and organizations to benefit through a reputed and well-recognized pan-India Care Partner Network. Visit www.lifeisawesome.co.in for more information.
Media Contact
Geetha R, PR Contact, LIFEISAWESOME
Chennai, India
Source :LIFEISAWESOME
This article was originally published by IssueWire. Read the original article here.
