/startuppedia/media/media_files/2025/03/24/L3tDyRv14jiK6CMPUvl2.jpg)
Medworld Solutions Founders Ajit Chunarkar and Vikram Chunarkar
Imagine rushing your loved one to the hospital, only to be told that treatment can’t begin until the insurance paperwork is processed. You fill out forms, submit documents, and are asked to wait—sometimes for hours or even days—before the approval finally comes through.
For millions of patients across India, this is an everyday struggle. Hospitals, too, are burdened by the process. Every insurance company has its own set of rules, different online portals, and complex documentation requirements. Staff members spend hours processing claims manually, often leading to errors, rejections, and delayed discharges.
Vikram Chunarkar and Ajit Chunarkar, two brothers from Pune, saw this problem up close while handling insurance paperwork for a hospital.
Hospital administrators were overworked, doctors were frustrated, and patients were left helpless as they waited for approvals. In one hospital, an elderly man with a heart condition had to stay three extra days just because of a missing document in his insurance file.
"The hospital had done everything right, but one small mistake in the paperwork delayed his discharge," recalled Vikram, the co-founder, in an exclusive interview with Startup Pedia.
"His family was panicking, the hospital staff was overwhelmed, and no one could speed up the process."
That incident stuck with Vikram. That night, after another exhausting shift handling insurance claims, Vikram turned to his brother Ajit and said, "There has to be a better way."
What started as a small attempt to streamline paperless and cashless insurance approvals soon turned into a full-fledged SaaS-based health-tech startup - Medworld Solutions.
And the interesting part? They built it without a single rupee in external funding.
From Small Town to Big Vision
/startuppedia/media/media_files/2025/03/24/klT9mQIRCKxjwgludoFE.jpg)
The Pune-based brothers-turned-entrepreneurs, Vikram and Ajit, didn’t begin their journey in a tech hub - it all started in the small town of Chandrapur, in Maharashtra.
They studied in government schools due to financial constraints. Their father, who had a job in Mumbai and lived pay cheque to pay cheque, lost his job and had to return to his hometown to work as a labourer.
To support their education, the brothers began working. While Vikram started as a computer trainer earning Rs. 3,000 per month, Ajit worked as a machine operator in MIDC, earning even less.
“It was tough managing both work and studies. Since our financial condition was extremely bad, I dropped out of engineering college and started working in the insurance department of a hospital earning Rs. 4000 per month,” said Vikram.
Ajit also began working full-time in MIDC, earning Rs. 6,000 per month to support his family.
Although their full-time jobs improved the family’s financial situation slightly, as Ajit and his two sisters were also working, they didn’t just want to survive – they wanted to thrive.
After gaining deep knowledge of hospital insurance paperwork, Vikram quit his job in 2014 and started providing insurance paperwork services independently to hospitals.
The co-founder of Medworld Solutions recalled, “I was paid Rs. 12,000 by one hospital to handle their entire insurance paperwork. It was pretty good. I could see a better future from there. The four of us – brothers and sisters – quit our jobs and took over four hospitals, marking the first step in Medworld Solutions’ journey,” said the Pune-based entrepreneur in the Startup Pedia interview.
"We don’t blame life for our past conditions because it taught us everything we needed in entrepreneurship—crisis management, risk-taking ability, valuing money, people skills, etc.," said Vikram.
From Struggles to Success: The extraordinary Journey of Two Brother
Vikram began partnering with one hospital after another and soon invited his siblings Ajit, Madhuri, and Hema to join him. He would ride his bicycle from one hospital to another, managing operations and onboarding new hospitals – not with a fancy car like today’s CEOs, but on a bicycle.
What motivated him was the thought that "our first satellite, launched by ISRO, was transported on a bicycle and a bullock cart to the launch site." His dream was no less than soaring in the sky.
Although the co-founders of Medworld Solutions initially managed the insurance paperwork manually, by 2018, they were working with 40-50 hospitals and making Rs. 4-5 lakh per month.
"At that time, we didn’t realize that what we were doing was entrepreneurship or that we were running a startup. Those terms weren’t as popular back then, but we were certainly dreaming big—because dreams are free. Fate led us here; we were simply trying to improve our financial situation," said the Pune-based entrepreneur.
As their workload increased, managing paperwork manually became inefficient despite having a team of around 40 employees. That’s when they decided to build a SaaS-based health-tech startup—Medworld Solutions.
Medworld Solutions: Revolutionizing the Healthcare Industry
/startuppedia/media/media_files/2025/03/24/UMxce5LnRkgk7OKHIKO6.png)
Launched in 2018, the Pune-based health-tech startup provides a one-stop solution for hospitals, allowing them to process all cashless insurance claims from a single dashboard instead of juggling multiple insurer portals.
"Every insurance company has different forms and documentation requirements. A single mistake can lead to claim rejection. Our system standardizes and simplifies everything, reducing human errors," explained Ajit, co-founder, during the Startup Pedia interview.
The SaaS platform autofills repetitive patient data, auto-generates multiple pre-authorisations, queries, and denial replies, enhancements, and discharges. It tracks approvals in real-time, follows up on payments, and ensures the entire process is completely paperless—making the hospital insurance department fully digital and enhancing the patient experience.
"Most hospitals rely on human staff to manually check and upload documents, which leads to errors. Our AI-based system detects missing details instantly and alerts the hospital, reducing claim rejection rates by 40%," added the co-founder Vikram.
Hospitals that once needed 10 staff members to handle insurance paperwork can now manage with just four or five, leading to 60% less manual effort, 20-25% cost savings, and significantly faster patient discharges.
"There are cases where patients are medically fit to leave but are stuck for two extra days just because their insurance isn’t approved. We’re fixing that," said the Pune-based entrepreneur.
He also mentioned that now Hema has left the startup and is working on her own project.
From Cycling to Hospitals to Running a Rs 2 Crore Startup
/startuppedia/media/media_files/2025/03/24/aAzZ24zNuYr76xVUmcmB.jpg)
Unlike most startups that seek funding at the first opportunity, Medworld Solutions has been completely bootstrapped from day one.
The co-founders of Medworld Solutions invested ₹35-40 lakh from the company’s earnings to build the health-tech platform and scale operations.
"We didn’t have a marketing budget. Our first clients came purely through word of mouth. One hospital observed how much time we saved for them, and they recommended us to others. That’s how we grew from a few hospitals to a thousand," said the co-founder while talking to the journalist from Startup Pedia.
In its first year, the startup worked with just five hospitals. The next year, it was 50. By the third year, it had crossed 500 hospitals, and today, Medworld Solutions serves over 1,000 hospitals across India.
The Pune-based health-tech startup charges Rs. 100 per case from hospitals, which is “cheaper than booking a movie ticket," said the co-founder.
Today, Medworld Solutions processes ₹30-40 lakh worth of cashless claims daily, generating ₹10-15 lakh in monthly revenue, with plans to scale that to ₹30 lakh per month revenue soon.
Aiming for Rs 30 Crore in the Next Few Years
With a strong foundation in place, the Pune-based entrepreneurs are now focused on expanding Medworld Solutions’ footprint across India. Over the next few years, they aim to onboard 5,000 hospitals nationwide, scale their annual revenue to ₹30 crores, and integrate their software with government healthcare schemes to support India's healthcare digitisation initiative and further streamline cashless insurance processing.
They also believe that providing better cashless services to patients and ensuring faster approvals will increase health insurance penetration in the country.
"This is just the beginning. We know that the cashless insurance problem isn’t limited to just a few hospitals. Our goal is to make Medworld Solutions the industry standard across India," said the co-founder while concluding the interview with Startup Pedia.
Also Read:24-YO B.Tech Launches Innovative AI-Based Tech Startup To Reunite Missing Individuals With Family