Navigating tomorrow – Redefining diagnostics with precision, innovation, and wellness in 2024

Healthcare is a dynamic, ever-evolving field marked by continuous challenges and an unwavering commitment to saving lives, ensuring a healthy, fulfilling life experience. The Covid-19 pandemic has catalyzed extensive transformations in the healthcare industry over the last two years, reshaping customer preferences and prompting a re-evaluation of healthcare delivery methods. As we approach 2024, Metropolis Healthcare, among the leading diagnostic players, is not only adopting these changes but is also at the forefront of steering the course of healthcare diagnostics with an unparalleled commitment to precision, innovation, and ensuring access to quality patient care.

The Indian healthcare diagnostics market, valued at USD 1.92 billion in 2022, is projected to witness a substantial CAGR of 18.5 percent from 2023 to 2029, according to a report by Precision Business Insights. In the past two years, new players from e-pharmacy and hospital sectors entered the diagnostics services domain with aggressive pricing and satisfactory services. This influenced competitors focused on competitive pricing, resulting in margin pressure, reduced discounts, marketing budget cuts, and increased prices. Moreover, their foray into non-metro towns, especially in the post-Covid wellness segment, has encountered limited traction.

Despite challenges from new entrants, Metropolis solidifies its position as a reliable and trusted player in healthcare diagnostics, maintaining a stable ecosystem. This resilience highlights the company’s commitment to quality service and customer satisfaction. For us at Metropolis, healthcare delivery goes beyond diagnosis, prioritizing holistic wellness for individuals. This emphasis on consistent, high-quality care has enabled Metropolis to stay resilient, relevant, and among the frontrunners in the diagnostics arena.

Strengthening foundations and enhancing capabilities for future success

• Network expansion. At Metropolis, fortifying our core business is a primary objective for 2024. Our network expansion plan involves deepening our presence in Tier-II and Tier-III cities, where Metropolis is already recognized as a trusted brand. Our commitment is reflected in our plan to add 90 labs and 1800 service centers over the next three years.
• Wellness testing for future growth. Metropolis drives premium wellness products through data-driven and scientifically backed packages, promoting wellness as a growth driver via a direct-to-consumer (D2C) engagement model. Unlike competitors relying on price, our brand promise emphasizes valuable content, health improvement, accurate results, and a seamless experience. Our commitment extends beyond the lab, empowering patients with knowledge. A recent milestone is the launch of the comprehensive patient education program Next Best Action (NBA) initiative, addressing the surge in chronic diseases in the country. This initiative empowers individuals to manage their health, leveraging basic blood parameters to recommend follow-up tests tailored to each patient and ensuring a comprehensive assessment of body systems.
• Scientific leadership and cutting-edge solutions. Metropolis is committed to being a scientific leadership brand, focusing on innovation, R&D, and solutions. We follow an integrated approach that involves collaborations with healthcare institutions and technology partners, integrating data analytics and AI to set new standards in accuracy and efficiency. Recent advancements include deepening capabilities in molecular diagnostics, oncology, AI-based array testing for allergy and genetics, and next-generation sequencing (NGS) for pre-natal screening, breast cancer, solid tumors, and blood cancer. We have pioneered drug allergy testing and allergy component testing powered by AI, marking a significant leap in diagnostic precision, and reinforcing our commitment to healthcare excellence.
• Comprehensive test menu and future initiatives. With the most comprehensive test menu in the diagnostic industry, our goal is to introduce new tests over the next three years, showcasing a proactive stance in staying ahead of emerging healthcare needs. In the fiscal year 2022-23, we added 83 new tests, with plans to introduce 300-plus super-advanced tests in the next three years. Metropolis strategically expands its sales team to strengthen and accelerate doctor engagement activities, especially in newer geographies.
• Digital transformation for seamless healthcare. Digital transformation is a fundamental pillar of Metropolis’s strategy for 2024. The company’s robust technological advancements include the development of an integrated API and CRM stack, spanning service, sales, and marketing. This strategic investment positions Metropolis for accelerated growth and seamless integration with key stakeholders, aligning with government initiatives, such as Ayushman Bharat Digital Mission. Improving features of our patient app and introducing WhatsApp messenger further augments customer service capabilities, ensuring a seamless experience.
• Diversifying services and strengthening capabilities. Metropolis Healthcare is strategically diversifying its service portfolio by expanding into adjacencies, introducing asset-light basic radiology services, such as ECG, X-ray, and sonography. This strategic move is planned to harmonize with the company’s vision of offering complementary services, enriching the overall patient experience, and augmenting revenue per patient. Concurrently, Metropolis navigates growth through strategic bolt-on acquisitions, fortifying and complementing existing capabilities.

As a leader in the diagnostics sector, Metropolis envisions notable developments shaping the industry’s trajectory over the next five years. Our plans and vision for 2024 encapsulate a forward-thinking strategy that goes beyond routine diagnostics. As Metropolis propels into the future, our commitment remains unwavering – to revolutionize diagnostics, elevate accuracy and accessibility, and enhance the well-being of individuals we serve.