7BUSINESS MODEL INSIGHTS NO ONE ELSE WILL SHARE

HEALTHCARE

Dr Vijay Raaghavan I Engagement Manager I Medium Healthcare Consulting

Healthcare is not just about a disease or its cure. It is about people, real people. A patient is not ‘Room No 37’ or an interesting case of appendicitis. She is someone with a name, emotions and attachments.

1HEALTHCARE IS FOREMOST ABOUT PEOPLE

A commoditized offering in healthcare delivery can, at best, provide limited joy; and that too for a limited time. A patient needs a clear and credible rationale to patronize a particular hospital, for instance. Sustainable differentiation is the only mantra for long-term success

2SUCCESS DEPENDS ON SUSTAINABLE DIFFERENTIATION

A mindset, which isolates healthcare from other industries, has proven to be suicidal. Healthcare can, and should, learn from other industries. In fact, some of the best hospitals in India and abroad have openly admitted picking up invaluable lessons from the likes of Walt Disney, Toyota, McDonald’s and Wal-Mart

3

HEALTHCARE SHOULD LEARN FROM OTHER INDUSTRIES

For a niche to become a large successful business, it needs a unique concept that

should not only be viable and sustainable, but equally importantly, scalable. Given the

vast Indian population, it is usually the lack of a well-conceptualized model that

invariably proves to be the biggest handicap, not the size of the market.

4

DON’T BLAME THE MARKET, BLAME THE CONCEPT

The more unique and daring the concept, the more irrational it may sound. The decision to go ahead requires courage and conviction. It also requires the humility to do one’s homework, the patience to start from ground zero, and a deep and insightful understanding of not just what the target audience is saying but also what he is not.

5BE BRAVE BUT BE RESPONSIBLE

Technology offers the potential to play a defining role in improving patient experience, enhancing transparency and driving resource productivity. It has an even greater role in making possible low-cost solutions.

6TECHNOLOGY IS TOO EXPENSIVE TO NOT IMPLEMENT

Execution is key, often proving to be the difference between an average performer and a true success.

7

EXECUTE WITHOUT COMPROMISE

THIS IS EXACTLY WHAT

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