Plans for 2022

Digitization, technology enablement, and automation are all having a significant impact on all industries today. Healthcare is no different. The healthcare delivery paradigm is shifting and ready to take a giant leap ahead. Healthcare and drug development are being scrutinized like never before. Covid-19 pandemic has created a massive set of hurdles for the Indian healthcare system and business during the last two years. Although, the pandemic exposed the healthcare system’s flaws, it has compelled the organizations to become more agile and innovative. The pandemic has forced the healthcare sector to become more technologically and practically enabled.

Healthcare delivery is expanding outside the conventional structures and models. Healthcare providers have realized that, no matter how great their services are innovative in current times, they might not suffice in the future. They have realized the importance of looking into the future needs of the consumers and connecting the dots and creating a robust healthcare value chain for physicians and patients. Today, the country is in the middle of a MedTech revolution, with increasing infrastructure and investments, due to an increasing need for medical treatment. Furthermore, India is a remarkable and attractive destination for medical tourism, which adds to its luster. Make in India is becoming a reality, with several firms offering ultrasound, CT scanners, ventilators, and even MRI equipment at attractive prices. The Make in India program by the government will witness a larger participation from Indian healthcare firms with a speedier clearance procedure and a production-linked incentive (PLI). Indian software businesses are making breakthroughs in the development of AI, teleradiology software, HIS, RIS, and PACS software for international deployment. This metamorphosis is further estimated to boost the Indian healthcare system. The National Digital Health Mission will serve as a stepping stone toward providing the greatest healthcare possible to everybody.

Although the sector is witnessing a consistent growth profile and attractive investments, the healthcare business has certain challenge to address. Despite having the world’s largest working-age population, India does not have enough medical practitioners to meet everyone’s needs. The doctor-patient ratio in India is 1:834, according to a recent government report. While this is better than the WHO standard (1:1000), it is still below that of developed nations. Here are some projections about the future of India’s healthcare system and plans of Krsnaa Diagnostics in sync with the same.

Krsnaa Diagnostics is focused on successfully rolling out new centers. There are nine radiology centers, which are expected to operationalize in Q1 FY23 and there are eight centers, for which construction is completed, and three are already under work in progress. Similarly, on the pathology side, Krsnaa has around 11 labs that are expected to be operationalized in Q1 FY23. They also have a strong pipeline of recently awarded contracts, which are expected to be launched in a phased manner.

We are planning to expand in five key states of Maharashtra, Punjab, Himachal Pradesh, Rajasthan, and West Bengal in a phased manner. This will be an asset-light expansion, where these centers will be reaching out to direct consumers under their PACH model, which stands for pick-up points tie-ups with hospitals, nursing homes, etc. Creating awareness through camps, wellness packages, collection centers addition and launching homecare services.

There has been a rise in the production of self-testing kits for various diseases, such as Covid-19, diabetes, etc. Apart from this, preventive healthcare has taken a center-stage as young India is realizing the importance of early disease diagnosis and management. Hospital visits and consultations can be prevented to a great extent through these preventive measures, routine health screening and home healthcare facilities.

On the healthcare infrastructure front, there is still a large underpenetrated market. To address this gap, out of 700+ districts, Krsnaa Diagnostics’ presence is approximately in 70+ districts, and with the government’s continuous focus on improving healthcare and Krsnaa Diagnostics being the largest PPP partner with 78 percent bid-win ratio, it is well placed to capitalize on the growing opportunity. We have secured three new projects with the government in February 2022 – Himachal Pradesh Pathology comprising of 24 labs, 190 collection centers, Chandigarh one MRI, and Uttar Pradesh for deploying eight CT scans in district hospitals. Krsnaa plans to continue participating in new tenders and build a strong pipeline for the future.

With several reasons in its favor, India has the potential to become a global healthcare destination. With strong policy measures, tapping the right opportunities, and filling the gaps, the sector is taking the required steps in the right direction.