In an interactive session with the students of TAPMI, Mr. Joy Chakraborty enlightened the students about the on-going transformation in the healthcare sector. He started off by asking the students whether patients are indeed the real “King” in the healthcare sector. He then went on to explain the various intricacies of the sector and why health care is a buyer’s market.
Most of the private institutions working in this sector have developed their own space which is designed in such a way that it maximizes the patients and profits gained out of them. Disease patterns and spending power of consumers are among the multitude of variables which help to carve out this unique space for each institution. The scenario is completely different in public sector, he added. Further elucidating about this differentiation strategy, he took the example of specialty hospitals like Arvind eye care, which caters to a particular segment of the patients. Driving volumes with lesser margin is the key to success for many private healthcare institutions, he said.
Further discussing the transformation of the Indian healthcare sector, he compared today’s healthcare sector with the one that existed twenty years ago. Apart from the advent of specialty hospitals with different value propositions, one striking difference that has evolved in the sector is that of the changing customer expectations. Today customers are the decision makers who drive the entire healthcare delivery process, he said. The structure of the health care sector, as well as the interaction with the customers, have undergone a sea change over these years. The sector in itself has evolved into multiple branches like homecare and even remote consultations. The industry needs to continuously look into the customer expectations and customer perspectives to transform the dynamics of the delivery process. To enable this transformation, there needs to be renewed focus on bettering the current level of customer experience. He then went on to give three specific areas of improvement: Patient Appointment Service, Online Payment Mechanism, and Out-Patient Facilities. Making use of technology and integrating it with the prevalent processes would go a long way in improving the customer experience part of the healthcare sector. He ended the session by answering the questions posed by the students and thanking the students for making it a highly interactive session.