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

Consilium'08: The Consulting Conclave

MBA batch under the aegis of Department of IME is going to organize the annual consulting conclave of IIT Kanpur, Consilium’08. The objective of this event is to create a platform where confluence of leading professionals from consultancy and vast student community can take place. As consultancy has become one of the most preferred career choice for IITians , Consilium'08 will provide them the opportunity to learn about the nunaces of consultancy in various domains. From a humble start, it has been envisaged that Consilium will become the platform in coming years where representatives from across the spectrum of consultancy will share their knowledge, experience and insight with students. The event has generated enthusiasm among all sections of IITK students and students from other major B-Schools who are also expected to participate. Case solving competition is one of the attraction of Consilium '08 in which winners shall get certificates and attractive cash prizes. Apart

Seminar: Financial Risk Management: A Brief Overview

Date: 14th January, 2011 Speaker: Dr. Puneet Prakash About the speaker: Dr. Puneet Prakash is an Assistant professor at Virginia Commonwealth University since 2005. He holds a Ph.D in Risk Management and Insurance from Georgia State University, an MBA from IIFT, Delhi, PG Diploma in Development Policy (IGIDR), and M.Sc. (5-year Integrated) from IIT, Kanpur. He is also a visiting faculty to IIT Kanpur, Fall 2009. Abstract of the talk: The seminar started with a brief discussion on market and the categorization of market participants into risk averse, risk neutral and risk seeking behaviors. Dr. Prakash then proceeded to discuss the Modigliani – Miller theorem that Corporations are risk neutral and that if investors want to manage risk they could do it as an individual rather than through the company. The underlying assumption is that a company and a individual have the same capability to manage risk. As this assumption is not a universal truth, not all corporations are risk neutral. Any

TIPS FROM TOP: "ON-SITE MARKETING" by Mr. Advit Sahdev, Head of Marketing, Infibeam.com

The Department of Industrial Management and Engineering hosted Mr. Advit Sahdev, Head of Marketing in Infibeam.com, Indian E-commerce retail portal for a corporate seminar on 8 September’18 on ‘Invisible Marketing.’ The seminar mainly focused on the scope of marketing in the online world and how different experiments can help in boosting sales of a product. Mr. Advit Sahdev suggested various techniques, tried and tested in the online marketing world that bore fruits for the e-commerce companies. The main focus of this domain is, firstly, to bring the customer to the site and secondly, to convert the customer into a buyer and further into a loyal customer.  Real-time data analysis is used to attract customer to the site. Analyzing Google search and browsing history in social media sites like Facebook and Twitter is particularly helpful in assessing age, behaviour, and mood of the prospective buyer. The essence of the assessment is to categorize the customer into detai