India’s Healthcare Sector Poised For A Major Disruption A La Oyo
The healthcare industry, in the near to medium term, is going for the disruption route by following the footsteps of Oyo.
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“The healthcare industry, in the near to medium term, is going for the disruption route by following the footsteps of Oyo”, said Raj Gore, COO (South & West), Fortis Healthcare, adding “While there are challenges, the disruption in the healthcare will be driven by outsiders. I think we are limited in our thinking because of our experience. I think disruption will move in that direction. I won’t be surprised if someone comes up with ‘Oyo’ kind of a model in healthcare. It is already happening.”
At the BW Healthcare Summit and Award organised by BW Businessworld, top healthcare industry honchos and experts during a session on ‘Realizing the Healthcare Agenda- Aiming True Care building ‘Trust’ & ‘Tailoring’ for inclusion’ discussed how they are evolving with time. The session was moderated by Kalvaan Movdawalla, Partner-Healthcare, EY.
Punchum Mukim, Managing Director, Everstone Capital, maintained, “The demand-supply mismatch is not homogeneously attractive for people investing in the business. As investors, we are already cognizant of the fact that you have to pick the right micro markets where the demand-supply gap especially quality infrastructure is something you can fill. And as you put up that infrastructure, obviously as an investor, you need to make returns out of funding that infrastructure.” He further added, “The way forward is you have to cater to multiple sections of the society. As the Ayushmaan Bharat opportunity also unfolds, I believe to service it a lot of current models are not ready for that. For that, the cost of delivery needs to be brought into the forefront. There needs to be the right model to make a profitable opportunity out of Ayushmaan Bharat programme.”
Rajiv Sikka, CIO, Medanta Medicity, stated, “There are three to four stakeholders and you have to look from that perspective (and) the customer is the primary true primary care stakeholder. We started looking at each of these stakeholders what they want. We started preparing a digital strategy which was utterly confusing (in the beginning). We decided let’s pick up something which a patient wants, whether he comes in a DC, ER, OPD or IPD, he carried certain stuff outside the hospital in papers. Let him carry each and everything in an economic form in this app. So unless a solution in mind is there, we won’t be that successful as far as adoption of technologies is concerned.”
Rajdeep Das, CEO, Peters Surgical, said, “Any company which invests in a make-in-India project, they also look at the profitability, sustainability of those companies. The domestic consumption in India is large, but at the same level govt policies don’t match with global expectations. These are limiting the investment power of a lot of the companies (which are into medical devices). What the govt needs to see how one can speed up the incentives for medical devices for domestic consumption.”