Skip to main content

Tips from Top - Emerging trends and advancements in the healthcare industry, Mr Biten Kathrani, Director, R&D, Boston Scientific

Mr Biten Kishore Kathrani, Director, R&D department for Asia, Middle East and Africa (AME
A) at Boston Scientific, visited IME department for a talk on “Emerging trends and advancements in the healthcare industry.” The session turned out to be extremely insightful and the audience got a lot of valuable inputs about the field of healthcare as well as the nuances of how business is done in the industry, the opportunities and the challenges that were pertinent in the industry.
Mr Kathrani began the seminar with an introduction of Boston Scientific as a company, its core values and the massive range of medical technologies that it offered. He discussed about the Indian office of Boston Scientific, its full-fledged facility with R&D along with an Advanced Science institute for surgeons training on the cutting edge technology.
There was also a brief discussion on the changing nature of healthcare industry from being a patient centric model to a transaction centric model, and with the advancement in technology, again a shift in trend to becoming patient centric. But with it arises plethora of issues to be addressed, one of them being the lack of understanding of people upon the monetization of digital services and their reluctance to pay for it.
Mr Kathrani also talked about 4As– Affordability, Awareness, Accessibility and Adaptability, which are indispensable for the industry. Out of these, the focus on Affordability – with a skewed perspective meaning “being cheap”, has led to neglect of the remaining three A’s, which in turn led to a loss of affordability as well.
There are two major shifts happening in the healthcare industry currently: decentralization – shift of delivering healthcare in hospitals to the patient’s home; and reduction in invasiveness of every relevant procedure – from making massive openings to lacerations to the use of nanotechnology for targeted delivery of medicine.
Talking of the trends in India, Mr Kathrani said that the industry is at around $90 billion with a CAGR of 15%, and it holds major potential. He related this to the growing middle class world over, and that is where the real opportunities lies as these are the people who want value based innovation to address their needs.
There was also a brief discussion about the 5 stage process followed for a successful company in healthcare sector. The stages are - Identify, Innovate, Design, Manufacture, and Deliver. The role of customer segmentation is pivotal in all the stages. Following the steps of these stages, a successful methodology for Biodesign process would be- Identify, Invent and Implement. 
Talking of challenges, Mr Kathrani said growing number of diseases, low hospital bed to patient ratio and physician to patient ratio, less prevalence of insurance cover, and the patient’s reluctance to access healthcare services were major challenges; while the key issues were cost, adapting to the market, digital innovation, and regulations & compliance.
The session ended after some discussion on the nitty-gritties of the healthcare industry and some issues it faced.



Comments

Popular posts from this blog

An Introduction to the batch of 2019-21

It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change." A new zeal, vigour, and an unquenchable thirst for proving oneself is what describes MBA batch of 2019-21. 52 of us set foot on the pavement of a new journey and needless to say it has been unprecedented. Be it the early morning presentations, the stark midnight deadlines, or the never-ending case studies covering the gamut of concepts and context, each one of these activities can vouch for it. It has hardly been a month, yet the batch has acclimatized well with the life of one the most coveted institutes in the country, IIT Kanpur.
For most of us, this is the desired path, and for the rest, it is an opportunity to relive their school days. Since we are in a place that has no norm and instead offers endless diversity, there will always be something that entertains and challenges us. It is time we took this opportunity to build a lasting relationship with our c…

The 2018-20 batch, an initiation!

Time to take a plunge –  2018-2020Batch


The journey of a thousand miles begins with a single step
                                                                                            – Lao Tzu.

The energy of the Indian subcontinent unified at the gates of IIT Kanpur when we started our much- awaited journey of MBA. The pre-assignments and admission process gave us a much-needed glimpse of life ahead of us. With all glittering hopes, we, the 54 minds embarked on an endeavour to achieve our dreams and here we are, introducing our remarkable 2018-2020 batch with immense pride and responsibility wearing the badge of IIT Kanpur.

For most of us, who have prior work experience, it is a back to school time and for the rest, it is an aspired path by choice, now that we are in our new home, it is time for us to build an everlasting relationship with our peers and let the world know about us. With the get-up-and-go attitude, the diversity of the 2018-2020 batch is one of a kind with studen…

Tips from Top, Digital Marketing – A Key Perspective by Mr Vikash Kumar and Mr. Mohit Goel (Trident Ltd)

Mr Vikash Kumar, Chief Digital Officer at Trident Group India Ltd, visited the IME department at IIT Kanpur along with his colleague Mr Mohit Goel, GM at Digital Trident, on the 3rd of September, 2016. Talking about the changing scenario of digital marketing and the challenges and opportunities that it poses for today’s marketing managers, he shared his insights as the Chief Digital Officer of the textile giant Trident India Ltd, about the marketing and branding strategies being followed in the current scenario.

Mr Kumar stressed upon keeping the session as informal and interactive as possible, making it into a dialogue rather than a one-way lecture. He started with defining digital marketing as a medium that provides two way flow of information or communication on world wide web. He emphasized on how the rapidly changing world of digital marketing has made textbook knowledge insufficient, and further emphasized the importance of learning on the job, staying unique, and believing in o…