Our consultants work with healthcare organisations including hospitals, diagnostic centres and medical equipment companies to address their most pressing issues as they take on the challenge of bringing quality care to every Indian.
In particular, Kanvic offers a range of bespoke services for existing, new and expanding hospitals from conceptualising new facilities to improving the business performance.
India’s growing middle class is increasingly willing to pay more for a higher quality of care, but millions still have little or no access to basic healthcare. This provides scope for a full spectrum of new and innovative business models to serve a wide range of underserved patient groups.
Despite the strong growth fundamentals of the Indian healthcare sector, many healthcare businesses have failed to achieve financial sustainability due to short-term thinking and weak business models.
We believe the key to tapping latent demand in the healthcare sector is understanding the changing patient journey from need recognition to post-treatment recovery. By identifying the key decision points and uncovering the major obstacles, providers can position themselves to become the preferred option.
With patients benefiting from increasing choice, healthcare providers will need to take a more patient centric approach to the design and delivery of services to ensure high levels of satisfaction and create the favourable word of mouth that is a key source of referrals.
Emerging technologies like mobile are providing patients with increasing information about their own health conditions as well as giving them the ability to compare and review providers more easily. New technology enabled entrants will also disrupt the traditional relationship between the patient and medical professionals.
Although the number and scope of facilities has expanded rapidly in recent years, many areas of the country have little or no coverage in key medical specialties.
Limited insurance penetration
The low level of insurance penetration in India means many patients must fund their treatment out-of-pocket. This limits both their inclination and ability to pay for care in all but the most serious circumstances.
Low awareness among patients
The low level of awareness among Indian patients about health problems and their appropriate treatments is a major factor limiting demand. Many patients simply fail to seek out medical advice.
A shortfall in skilled medical professionals makes attracting and retaining talent a major challenge for healthcare organisations looking to expand.