healthcare service providers need to evolve, quickly!
TRANSCRIPT
‘Healthcare’-Growingfast,butladenwithhurdles
LEADBusinessGrowthisalimitedliabilitypartnershipfirmregisteredinIndia.
September2016
HealthcareinJharkhand–Customers’perception
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Healthcare is,nodoubt,amongst themostsoughta5ersectors in Jharkhand (as in India).Withever increasingneedandawarenessacrossall theclassesofpopulaAon,do thehealthcareserviceproviders in Jharkhandfindaplace in the ‘goodbooks’,whenitcomestocustomers’percepAon?
Thebigques+onis…“Whatarehealthcareprovidersdoingtoimprovethecustomers’percep+on?”
Trust
While a number of healthcare providersswarm the market, a large populaAon,especially themiddle and upper classes, donot trust the capability of insAtuAons andprefer toavail servicesoutside thestate, ifthecondiAonofpaAentpermits.
Lower income group, because of theirsituaAonal constraints, are restricted fromexercisingthisopAon.
Value
An individual would do everything possible,whenitcomestofooAngthebillforsecuringthe health of a family member. However,while the cost of services has increasedsubstanAally, over the last decade, thequalityofservicehasnotenhanced,inequalproporAon.
Peopledon’tperceivege@ng‘value’fortheamountspentonhealthcare.
Empathy
TradiAonally, doctors were respected like‘God’. Today, people arewary and considerhealthcare providers as ‘business housesmin+ngmoney’.
A large segment of populaAon believe thatthe sector has lost the ‘human touch’ andit’sallaboutmoney,now.
Specializa+on
There are doctors and there are ‘Doctors’.Buttoday,peoplearelookingfor‘specialists’.Ask people in the mid-high segment andthey’ll say ‘we want the best for ourfamilies’, or ‘we want specialists, notgeneralists’.
Peopleperceivethatmostofthehealthcareprovidersinthestatearenotspecialists.
Serviceprovidershavetheirshareofconcernstoo
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Thebigques+onis…“Whatarehealthcareprovidersdoingtoimprovethecustomers’percep+on?”
Thepain is being felt themost by thenewgeneraAon, takingover the family ownedand tradiAonal establishments andlookingtomovetothenextlevel.
Giventhenatureofbusiness,its‘success’dependsonthespeedwithwhichitevolves.
Wanttogrow,butwhat
shouldbethestrategy?
Needtoacquiremore
customers.AremyPRand
andMarketingstrategies/
techniqueseffective?
Oursourcingstrategyhas
been'leastcost'.Shouldn'tit
be'valueformoney',instead?
Doesourorganization
structureeliminaterisks?
Isiteffective?
Deterioratingemployee
satisfaction.Whatshould
wedo?
Poorqualityofmanpower
(technicalandnon-
technical),resultinginlow
productivity.Needtoappraiseandtrain!
I'vebeenmicro-managing
-HowmuchshouldI
delegate?
Weneeddocumented
policies/procedures
andguidelinesfor
operations,especiallysince
weareexpanding!
Missingthe‘patientexperience’andthe
‘patientRirst’perspectiveand
approach.Whatshouldbe
done?
Ineffectiveliaisonbetweendifferent
functions(paperworkand
patientinformationwithin
departments)
Arewecompliantwithall
theapplicableregulations? Areweadheringtoqual
itynorms?
Weneedperiodicinternal
assessments,toidentify
gapsandimprovement
opportunities
Ourrecords
management(Medical
RecordDepartment)ispoor.
Howcanweimprove?
Weshouldfocuson
automationtoimproveour
patientexperience,engagementandsati
sfaction.
Buthow?
Howcanwemanagedata
effectively?Shouldleverage
onanalyticsforbusiness
growth!
Keyenablers…toevolveinthisdynamicmarket
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Itwouldbeworthwhiletopause,compose…...andthentaketheleap!
‘Success’isalongtermphenomenonanditisbesttoavoidshort-cuts.AnorganizaAon,un-supportedbyeffecAvestructures,islikelytocrumble,soonerorlater.
Having spent some Ame, understanding the Healthcaresector,webelievethatorganizaAons(especiallyfamilyrun,who wish to move to the next level) need to adopt astructured approach towards building their foundaAon, tobeabletoachievetheirvision,inthelongterm.
StrategicPlan
Organiza+onStructure
Policies&Procedures
Automa+on
KeyEnabler–StrategicPlan
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AStrategicPlanenablestransforma+onofa‘vision’to‘reality’.Ithelpseachpersontobefocusedtowardsachievingthelargergoaloftheenterprise.
Purpose
Mission
AnnualprioriAes
QuarterlyprioriAes
Weeklygoals
Dailytasks
PLANNING
CONTRIBUTION
AnorganizaAon’svisionforexpansionwillrequireStrategicPlantoenabletransformaAonofthe‘vision’to‘reality’.Ithelpseachpersontobe focusedtowardsachieving the largergoalof theenterprise.A laser-focusedplanningdocumentwoulddirecttheorganizaAon(managementaswellasteams)toworktowardsthe‘vision’.
KeyEnabler–OrganizationStructure
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Clearlydefinedorganiza+onstructureandjobdescrip+onswouldbringclarityandhelpavoidinefficiencies
CEO
Compliance&QualityControl Finance
Accoun+ngManagementRepor+ng&Analy+cs
Procurement Sales&Marke+ng
Marke+ng Sales
Opera+ons
In-Pa+ent Out-Pa+ent
An effecAve organizaAon structure, supported by clearly defined responsibiliAes, would ensure efficient uAlizaAon ofresources,byavoidingduplicaAonofwork.Ontheonehand,thiswouldsettheexpectaAonsrightandontheother,helpindividualsachievebalancebetweenworkandpersonallife.
KeyEnabler–Policies&Procedures
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Runninganorganiza+onwithoutpoliciesandproceduresislikeshoo+nganarrowinthedark…...Thechanceofmissingthetargetiselevated
Policies and procedures are fundamental blocks of the business machinery,which help in se]ng the expectaAons of work and business ethics. A clearlydefinedpolicy frameworkwouldhelp individualsgaugetheexpectaAonsof theManagementandmoveinthedirecAonprovidedbytheLeaders.
WhileorganizaAonsthriveonsales,documentedprocesses are enablers to ensuring smooth andeffecAve operaAons. Procedures provide adescripAon of who does what, and when andtake into consideraAon operaAonal efficienciesandriskconsideraAonsaswell.In the Healthcare space, documented policiesandprocedures are imperaAve, especially if theorganizaAon is aiming for accreditaAon byNaAonal AccreditaAon Board for Hospitals &HealthcareProviders(NABH).
KeyEnabler–Automation
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Thelistisendless!Acomprehensiveprocessmodelingexercisewouldunearthlargenumberofareaswhereautoma+oncanhelpHealthcareserviceproviders
Technology is one of the biggest drivers in today’s evolving business landscape. The market hosts a number of uniquesoluAons, to cater to the various business needs and it is imperaAve for businesses to capitalize on these technologysoluAonstoreduceerrorsandcosts,ontheonehandandforeffecAveuAlizaAonof‘Ame’and‘resources’,ontheother.
OrganizaAons in the Healthcare sector can benefit a lot, byimplemenAngtechnologysoluAons:
ü Beber customer experience – token system for OPD,automatedworkflowsforadmission,registraAonandpaAentflow.
ü Reduce medicaAon errors and increase operaAonalefficiencies–informaAonsystemworkflows
ü BeberpaAentcaremanagement–Electronicmedicalrecords
ü Enhanced customer engagement – Customer relaAonshipmanagement(CRM)tools
ü BeberresourceuAlizaAon–staffassignmentsandmonitoring,inventorymanagement
ü Low cost and effecAve brand promoAon – digital displays atthelobbyandwaiAngareas
ü Beberstrategicdecisions–DataautomaAonandanalyAcs
AboutLEAD?
OurPurposeandValues
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Withover40yearsofexperience,having servedanumberof largecorporates,we realized that the small tomedium scale businessesneed professional help, all themore, to take their business to thenext level.Most of the organizaAons, in this space, need effecAveguidance and hand-holding to challenge the status quo, but arereluctant to approach ‘consultants’ because of their cost-benefitsensiAvity.
LEADisajourneytohelpsuchbusinessownersbridgethegapsandcollaboraAvely work towards achievement of the enAty’s purpose.Our ameniAes are tailor made, providing innovaAve Advisory andTraining services to business owners, with tools, tacAcs andstrategies to remove obstacles in achieving mulAple growth. OursoluAons are designed to help business owners work ‘on’ thebusinessratherthan‘in’thebusiness.
OurValues
Integrity:whiledealingwithself,teamorclients
Quality:eachworkshouldbeamasterpiece
Teamwork:collaboraAon,ratherthancompeAAon
OpencommunicaAon:fairnessandtransparencyininternalandexternalcommunicaAon
ProacAve:idenAfypotenAalproblemsandinnovaAvesoluAons,ratherthanreacttosituaAons
Empathy:feelthepainandprioriAzesoluAons
Inspire:leadbyexample;givemorethanyouget
Ethical:honestandtruthfulinalltheaffairs
ClientFocus:recommendcosteffecAveandinnovaAvesoluAonstosolveclient’sproblems
OURPURPOSE
Help small to medium scale businesses achieve fast andhealthy growth, with leading business pracBces and theentrepreneurstoachievebalancedbusinessandpersonallife.
Ourareasofexpertise
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BUSINESSCONSULTING
² Strategicplanning
² Sales&MarkeAngadvisory
² Businessdevelopmentandjointventures
² OrganizaAonstructureassessment
² Peopledevelopment
BUSINESSPROCESSADVISORY
² Businessprocessmodeling
² BusinessprocessRe-engineering
² ProjectimplementaAonassistance
² Supplychainassessment
² Costassessment
² Customerlifecycleassessment
RISKCONSULTING
² Enterpriseriskmanagement
² OperaAonalriskassessment
² Contractcompliance
² Assessmentofinternalcontrols
² Internalaudit
TRANSACTIONADVISORY
² DealsandvaluaAons
² Duediligence
TRAINING&DEVELOPMENT
² Leadershipdevelopment
² OperaAonaltrainings
ProOileofPartners
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DheerajMirpuriCo-founderandManagingPartnerCell:+919891700025:+917368990025Skype:mirpuridheerajEmail:[email protected]
ACharteredAccountant,byprofession,withover13yearsofpostqualifica+onexperience in the areas of Business Consul+ng, Risk Consul+ng, TelecomRevenueAssurance,AuditandFinance.
Over9yearsofassociaAonwith‘Big4’consulAngFirms.Widearrayofexperiencein the Business Process, Risk and TransacAon Advisory domains, havingsuccessfullydeliveredassignmentsacrossIndia,SouthAsiaandAfrica.
A go-geber and a moAvator, having successfully led mulAple engagements andlarge teams across conAnents. Key soluAons (delivered simultaneously) includeprocess modeling, risk assessment, internal control assessment, compliance toSarbanesOxleyAct(SOX),customerlifecycleassessmentandinternalaudit.
ParAcipatedand ledanumberofglobal iniAaAves, includingBenchmarkReports,PointsofViewandGlobalSoluAons.
Extensive experience in conceptualizing and delivering soluAons for a largenumber of marque corporates across Manufacturing, InformaAon Technology(semi-conductor),AviaAonandTelecommunicaAonssectors.
CommibedtohelpbusinessownerswithstrategiesandtoolstoachievemulAplegrowthandnegaterisks,throughimplementaAonofstructuresandprocesses.Theidea is to help small and medium enterprises develop effecAve operaAng andgoverningstructuresforfastandhealthygrowth,throughskillsetsdevelopedovertheyears,havingbeenassociatedwithlargesizeenAAes.
NishantMarooCo-founderandPartnerCell:+61488048870Skype:nishantmaroo75Email:[email protected]
A serial Entrepreneur leading various businesses in Educa+on, Training andBusinessAdvisoryservices.
Over10yearsofexperience intheInternaAonalEducaAonIndustryasMarkeAngDirector,BusinessAnalyst,StudentRecruitmentandMigraAonAdvisor.
Helped several reputable insAtutes establish their agent networks across theglobe,whilsthelpingthousandsofInternaAonalstudentstostudyandmigratetoAustraliaandNewZealand.
Background and Masters in InformaAon Systems and Masters in ProfessionalAccounAng; conAnuously demonstrated excepAonal analyAcal capabiliAeswith afocus of surpassing set targets and over delivering every Ame. Developed newMarkeAng strategies and delivered innovaAve business soluAons and ideas foroverallorganizaAonalgrowth.
KeeninterestinqualityeducaAonandinnovaAveinthedynamictrainingindustry,maximizingopportuniAestohelpindividualsexcelinlifeandachievetheirdreams.ThepurposeistohelpandtouchthelivesofpeoplewhocrosstheirpaththroughAstonCollege(ownbusiness).
DeepknowledgeandexperAseinStrategicPlanning,Businessgrowth,InformaAonSystems and Digital markeAng, with a commitment to help small and mediumscalebusinessownersintheirjourneyasentrepreneurs.
Appendix- Healthcaresectorataglance- TrendsandStrategies
Healthcaresectorataglance…opportunitiesgalore
14
Highlights
² ExpectedtoadvanceataCAGRof22.87percentduring2015–20,toreachUSD280Bn
² ImmensescopeforenhancinghealthcareservicespenetraAoninIndia
² Strong fundamentals: Rising income levels, ageing populaAon, growing healthawarenessandchanginga]tudetowardsprevenAvehealthcare
² Costadvantage:AbracAngpaAents fromacross theworld (medical tourism),hub forR&Dowingtolowcostofclinicalresearch
² Conducive policies for encouraging FDI (100% allowed), tax benefits, favorablegovernmentpolicies
² Thedoctor-to-paAentraAoforruralIndia,aspertheHealthMinistrystaAsAcs,standsat1:30,000,wellbelowtheWHO’srecommended1:1,000
² AddiAonal3millionbedsneeded for India toachieve the targetof3bedsper1,000peopleby2025
² In India, private healthcare accounts for almost 74 percent of the country’s totalhealthcareexpenditure
² Emergenceoftelemedicine–Focusofgovernment
q Hospitals
q Pharmaceu+cals
q Diagnos+cs
q Medicalequipment&supplies
q MedicalInsurance
q Telemedicine
MarketSegments
o Healthcaremarketsize–USD100Bn
o 1.96 lacs hospitals, 1.57 lacs Sub-centersand3,600AYUSHhospitals
o Almost3,000BloodBanks
o Over500EyeBanks
o 190Govt.MedicalColleges
o 400MedicalCollegesforMBBS
o 215PrivateMedicalColleges
o Over25,000postgraduaAonstudentsp.a.
IndiaFactsheet(2015)
JharkhandFactsheet(2015)
o 346AcAvePrimaryHealthCenters
o 3,964AcAveSub-centers
o 256AcAveCommunityHealthCenters
o 24AcAveDistrictHospitals
o 13AcAveSub-districtHospitals
o 1AyurvedaHospital
o 4HomeopathyHospitals
CompiledbasisIBEFandothermarketreports
Trends&Strategies
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Trends
² Shi5fromcommunicabletolifestylediseases
² Expansion to Aer-II and Aer-III ciAes – substanAaldemand
² ManagementcontractstoprovideanaddiAonalrevenuestreamtohospitals
² Emergenceoftelemedicine
² IncreasingpenetraAonofhealthinsurance
² Mobile-basedhealthdelivery
² TechnologicaliniAaAves
² Luxuryoffering
CompiledbasisIBEFandothermarketreports
Strategies
ü Efficientsupplychain–Procurehighvolumes
ü LeveragingonITtoreducecost
ü DifferenAaAon–focusedandspecialisedservices,quality
ü Diversifiedbusinessapproach–HealthcareandWellnessservicesunderasinglebrand
ü Leveragingeconomiesofscopetoreducecost(example-NarayanHrudayalaya)
o High-volume by high capacity uAlisaAon and staffproducAvity
o Goodhumancapitalmanagement(i.e.training)
v FocusonawarenessandprevenAvemeasures
v Targetedcampaignsagainstcommonepidemics
v Governmentbackedhealthinsurance
v PrivateparAcipaAontofilltalentgaps
v Establishment of super-speciality hospitals, medical andnursingcollegesandparamedicalinsAtutes
JharkhandGovt.’sandCIIsvisionfor2022 Porter’sFiveForcesAnalysis–HealthcareinIndiaØ ThreatofNewEntrants(High)Ø BargainingPowerofSuppliers(High)Ø CompeAAveRivalry(Medium)
Ø BargainingPowerofCustomers(Low-moderate)
Ø ThreatofSubsAtuteProducts(Low)
Contact
Co-founder&ManagingPartner
Cell +919891700025+917368990025
Skype mirpuridheerajEmail [email protected]
DheerajMirpuri NishantMarooCo-founderandPartner
Cell +61488048870Skype nishantmaroo75Email [email protected]
ThisdocumentismadebyLEADBusinessGrowth,alimitedliabilitypartnershipfirmregisteredinIndia.
ThisdocumenthighlightssomeofthecrucialaspectsoftheHealthcaresector,whichhasimmenseopportunitiesandhurdles,atthesametime.Weshallbehappytodiscussthesubject,indetail,withyou.Ifyouwanttoknowmoreaboutusandhowwecanhelpyou,pleasewritetousandweshallbehappytosetupacall/meeting.