Healthcare Triad for growth – Quality, Technology, and agility
The Indian healthcare industry has grown at a rapid pace in the last decade with many new players establishing their network in the Indian, Middle East, and African continent. India is on the threshold of developing and emerging as a healthcare hub for many countries for affordable and quality treatment. The Indian government is also changing policies, processes to ease the burden of healthcare, and treatments on the patients. But the kind of transition or restructuring which the healthcare industry has witnessed in last few years, has never been envisaged in last 25 years. The times to come will throw new challenges for corporate healthcare, with more standardization of costs, reduced margins, economies of scale, and government regulations. Each slice of the vertical and horizontal segment of healthcare industry has to innovate, create, and evolve on an urgent basis.
Re-orientation of the healthcare space is happening now with government initiatives on regularization of medicines, control on implants cost, Ayushman Bharat scheme for health insurance, setting up generic-based medicine shops, restructuring of Medical Council of India, developing standard guidelines on health records, communication, and data privacy. A new competitive market is under evolution, in which only creative, quality driven, cost conscious, and innovative healthcare players will survive. The industry will see more standardization and consolidation of the healthcare ecosystem in India. We at Nanavati are aware of the challenges which will appear in near future and bring in more competition. In this dynamic situation we are exploring all the avenues, to excel, grow, and generate surplus to be financially viable. At Nanavati every necessary steps are taken to ensure we adhere to the highest quality standards. In this industry it is extremely important to set up a framework for quality assessment. With the right measurement of quality indicators, it becomes easy to asses and adhere to the standards.
This is particularly important in the healthcare industry since we deal with patients who are far better informed these days and a structured communication between patient–doctor and patient–hospital cannot be over emphasized. Safety, hygiene, and quality remain the most important aspects of patient care. Hospital acquired infection could be hazardous and life threatening to the patient which in turn will bring negative impact on the brand. At every level in a healthcare organization, quality needs to be adhered to and maintained consistently. Our prime focus is to achieve national and international accreditation such as NABH, JCI, and get distinguished in the market as one of the forerunners in providing quality healthcare services in tertiary care and super specialty disciplines. We are highly sensitive to feedback from our patients and we have a formal system for reverting to all patients for their suggestions and complaints on an individual basis, which is helping us to retain our patients and win their confidence. Retention of patients with Nanavati in this competitive market will help us to grow.
Value added services such as patient accessibility to their OPD prescriptions on their smart phones, mobile apps for access to their medical reports after discharge, help us to connect with our patients in time and respond quickly to their needs. We aim to be service and outcome differentiators by ensuring the highest standards of quality benchmarked with the best in the world. We have identified more than 150 patient touch-points throughout the journey of a patient requiring healthcare services where there is a possibility to create a great patient experience. We have devised our own matrix to monitor and control operational parameters which has the potential to increase efficiency of operations while maintaining patient and staff safety. We are in the process to develop new avenues of growth such as clinical research, clinical trials, home-based tele-consultation services, setting up tele-medicine centers for driving domestic medical tourism, which will be treated as a separate SBU to drive business growth. We aspire to become a center of excellence in performing transplants and the journey has begun with liver, kidney, bone marrow, and heart transplants and will strive to explore newer niche areas of quaternary healthcare delivery.
