Keeping People Out of Hospital: Even Healthcare’s Bet on Managed Care in India
By Arunima Rajan
In India, healthcare often feels like punishment by paperwork. Endless forms, tangled insurance claims, and a system that puts process above people. Patients feel lost, treatment gets delayed, and misdiagnoses are routine. Can care, coverage and outcomes ever be meaningfully aligned?
Matilde Giglio thinks so. A former investor who led healthcare and fintech deals at a London-based VC firm, she has backed over 30 startups globally and scouts for multiple VC firms and family offices. But she didn’t just want a seat at the table. She wanted to build the table. With Even Healthcare, which she co-founded in 2020 with Mayank Banerjee and Alessandro Ialongo, she is betting on a system that doesn’t wait for patients to fall seriously ill.
Even runs on a membership model. For ₹4,800 a year, members get unlimited primary care, chronic condition management, and 24/7 access to doctors through its app. With doctors on its rolls, in-house clinics, partner hospitals, and optional insurance for hospitalisation, the system is designed to catch problems early and manage them before they spiral.
The company says its approach is showing results. Among enrolled diabetic patients, average HbA1c levels dropped by 1.3 points. Cholesterol improved by 15 percent. In a conversation with Arunima Rajan, Matilde describes Even’s model as one that brings proactive care, digital tracking, and a focus on recovery rather than just treatment together.
With over 400,000 members, Even is scaling up. The bigger question is whether this model can do more than treat patients. Can it rebuild trust in a healthcare system that has long since failed to retain it?
Even Healthcare is challenging a system long dominated by giants like Apollo and Max. How do you see your integrated, subscription-based model disrupting the dynamics between hospitals, insurers, and patients in India?
At Even, we are trying to change how hospitals, insurers, and patients interact. Instead of patients navigating a confusing maze of paperwork and insurance claims, we provide an integrated model that makes healthcare simple, accessible and cashless.
By combining in-house clinical care, digital health tracking and guided disease management programs, we ensure members get the right care at the right time —preventing hospitalisations rather than merely covering them through insurance. This model not only reduces out-of-pocket expenses for patients but also helps insurers by minimising high-cost claims.
Your recent $30 million funding reflects significant investor confidence. How do your business model and strategic vision resonate with investors, and how do they translate into improved patient outcomes?
Our Series A $30 million funding underscores the belief that healthcare in India is ripe for change. Investors see promise in our commitment to move patients away from reactive, fragmented care to continuous, outcome-based support.
By proactively detecting and managing health risks, we have reduced hospitalisation rates and improved chronic disease markers for our members. This translates to real-world impact — better health for members and cost savings across the system.
Friction between healthcare providers and insurers has long plagued the industry. How does your end-to-end patient journey model realign these divergent interests and streamline the claims process?
The traditional system often pits insurers and hospitals against each other — hospitals are incentivised to push for more procedures while insurers try to cut payouts. Our all-in-one healthcare model ensures patients stay healthy and out of hospital through early risk detection and timely medical interventions.
Our members get unlimited access to Even doctors. But that’s just the start. Our clinical team proactively checks in, managing risks using globally vetted protocols. Tests prescribed by our doctors are free — whether at home or in partner labs. Even tests outside their chosen plan come at discounts deeper than market rates.
We have a rigorous onboarding process that gives us an accurate picture of each member’s health. Every medical transaction is recorded into our Electronic Medical Records, refining that picture further and allowing us to triage risks and intervene earlier than in traditional systems.
One example where our interventions have made a visible impact is in reducing readmissions after surgery. We’ve reduced hospital readmissions by 50 per cent.
With India's hospital market projected to double by 2032, how is Even Healthcare positioning itself to capture a meaningful share of this vast opportunity, particularly in the secondary care segment?
Even Healthcare is building doctor-led hospitals that put patient care first. Unlike traditional setups, where billing and paperwork overwhelm patients and caregivers, our model focuses on keeping things simple and streamlined — with structured clinical protocols, proactive health management, and care coordination long after discharge.
We reward doctors based on patient recovery, fewer unplanned admissions, and improved long-term outcomes. By integrating our hospitals with managed care programs, we offer a seamless healthcare journey from prevention to post-hospitalisation care, positioning Even to fill critical gaps in India’s growing secondary care market.
What fundamental changes in healthcare delivery do you believe are necessary for India, and how does Even Healthcare play a role in this transformation?
India’s healthcare system has been largely reactive — people seek care only when they fall sick. Even is driving a fundamental shift by combining prevention, diagnostics and treatment into a seamless patient experience.
We identify health risks early, offer guided care programs, and ensure continuity of care across consultations, tests, and hospital visits. The result? Our members stay healthier, avoid unnecessary medical expenses, and trust the system more.
Your user retention rate is over 90 per cent. What cultural or systemic factors contribute to this success, and how do you plan to sustain it as you expand into full hospital operations?
Indians are becoming more health-conscious, but access and affordability remain barriers. Even removes these pain points with unlimited doctor consultations, guided care programs, and seamless insurance integration.
When members see tangible improvements in their health — lower cholesterol, controlled diabetes, better fitness — they naturally stick with us and recommend Even to others.
We’re humbled by the trust our members place in us. That trust drives us to deliver care they can see, feel, and rely on.
Expanding into hospital ownership is a capital-intensive, long-term game. How do you balance the major investments required with the immediate goal of delivering a seamless, patient-centric healthcare experience?
Expanding into hospital ownership is a strategic step to commit to our mission of high-quality, patient-centric care. By keeping our hospitals small (40–50 beds) and integrated with our digital ecosystem, we maintain agility while ensuring the highest standard of care.
Preventive healthcare remains largely untapped in India. How do you leverage technology and data analytics to encourage a shift from reactive to proactive care, and what role does Even Healthcare play in driving this change?
Preventative healthcare remains underutilised in India, but technology is changing that. Our EMR system continuously updates patient health profiles, helping doctors detect risks early. Our AI-powered tools, such as Even Steven, provide instant, reliable medical guidance.
By capturing medical data at each step of the patient’s journey, we deliver proactive care that’s more targeted — and shows real outcomes. When patients see these results, they’re more likely to follow through on our guidance and become active participants in their health.
Having navigated the complexities of healthcare startups and venture capital, what key lessons from your past experiences are you applying at Even Healthcare to redefine the patient journey in today's evolving market?re, and what role does Even Healthcare play in driving this change?
In India, building a healthcare startup means navigating red tape, patient doubt and a system slow to change. One key lesson is that trust is everything. From day one, we’ve focused on transparency, member-first care, and eliminating the usual pain points of healthcare.
Another lesson is the importance of data-driven decision-making — predicting and managing health risks gives us an edge. This approach ensures that Even Healthcare is not just another healthcare provider but a movement toward a more efficient, patient-first system.
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