India Healthcare and Lifesciences Investment Heatmap 2020 - VC Circle, Kapil ...Kapil Khandelwal (KK)
Our Healthcare and Life Sciences Investment Heatmap for the year 2020 published in VC Circle
Kapil Khandelwal
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www.kapilkhandelwal.com
From Telegraph Road to US$50 Billion Digital Health Silk Road : Kapil Khandel...Kapil Khandelwal (KK)
My article in VC Circle on the Digital Health Investment and Opportunities in India Post Covid
Kapil Khandelwal
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www.kapilkhandelwal.com
India Healthcare and Lifesciences Investment Heatmap 2020 - VC Circle, Kapil ...Kapil Khandelwal (KK)
Our Healthcare and Life Sciences Investment Heatmap for the year 2020 published in VC Circle
Kapil Khandelwal
QuoteUnquote with KK
www.kapilkhandelwal.com
From Telegraph Road to US$50 Billion Digital Health Silk Road : Kapil Khandel...Kapil Khandelwal (KK)
My article in VC Circle on the Digital Health Investment and Opportunities in India Post Covid
Kapil Khandelwal
QuoteUnquote with KK
www.kapilkhandelwal.com
Is Healthcare the Next big opportunity in ecommerce in India? Kapil Khandelwa...Kapil Khandelwal (KK)
My views the bubble in ecommerce investments in India and is healthcare the next big opportunity
kapil khandelwal
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www.kapilkhandelwal.com
Growing population, increasing affordability, comparative cheaper treatment costs and JCI,quality standards as opposed to the west and medical tourism thereof, increased health insurance penetration, increased patient awareness, out-of-the-box unconventional thinking by the healthcare players for better operations, government opening up its arms to PPP and even providing tax holidays will be the key factors to look out for which would drive the future of healthcare in India.
The Indian healthcare industry has progressed at an impressive pace over the past few years. The private sector has emerged as a vibrant force in the industry, accounting for almost 74 per cent of the country’s total healthcare expenditure.
The Indian healthcare revenues stood at US$ 68.4 billion in 2011 and is expected to reach US$ 158.2 billion by 2017. Of the total healthcare revenues in the country, hospitals account for 71 per cent, pharmaceuticals for 13 per cent and medical equipment and supplies for 9 per cent.
India offers both a huge patient pool, favourable regulatory environment and cost advantage for conducting clinical trials. The low cost of medical services has resulted in a rise in the country’s medical tourism, attracting patients from across the world.
The Government of India has created the National Health Mission (NHM) for providing effective healthcare to both urban and rural population.
The Report is a brief overview of Healthcare Insurance Market in India. It covers Market Size and Forecasts, Competitive Structure, Growth Analysis, Impact Analysis and Recommendations.
The insights driving superior healthcare
outcomes in Asia Pacific.
Asia-Pacific Insight Magazine brings together IMS Health experts from across the region to engage in conversations about the forces that are shaping healthcare in Asia - and the strategies necessary to surge ahead of the competition
By Venkitasubramanian Akshay
When it comes to healthcare, there are two India's – a country that provides state of the art medical care to middle-class Indians and attracts medical tourists; and another where a majority of its own citizens cannot afford or even get access to basic healthcare.
Is Healthcare the Next big opportunity in ecommerce in India? Kapil Khandelwa...Kapil Khandelwal (KK)
My views the bubble in ecommerce investments in India and is healthcare the next big opportunity
kapil khandelwal
QuoteUnquote with KK
www.kapilkhandelwal.com
Growing population, increasing affordability, comparative cheaper treatment costs and JCI,quality standards as opposed to the west and medical tourism thereof, increased health insurance penetration, increased patient awareness, out-of-the-box unconventional thinking by the healthcare players for better operations, government opening up its arms to PPP and even providing tax holidays will be the key factors to look out for which would drive the future of healthcare in India.
The Indian healthcare industry has progressed at an impressive pace over the past few years. The private sector has emerged as a vibrant force in the industry, accounting for almost 74 per cent of the country’s total healthcare expenditure.
The Indian healthcare revenues stood at US$ 68.4 billion in 2011 and is expected to reach US$ 158.2 billion by 2017. Of the total healthcare revenues in the country, hospitals account for 71 per cent, pharmaceuticals for 13 per cent and medical equipment and supplies for 9 per cent.
India offers both a huge patient pool, favourable regulatory environment and cost advantage for conducting clinical trials. The low cost of medical services has resulted in a rise in the country’s medical tourism, attracting patients from across the world.
The Government of India has created the National Health Mission (NHM) for providing effective healthcare to both urban and rural population.
The Report is a brief overview of Healthcare Insurance Market in India. It covers Market Size and Forecasts, Competitive Structure, Growth Analysis, Impact Analysis and Recommendations.
The insights driving superior healthcare
outcomes in Asia Pacific.
Asia-Pacific Insight Magazine brings together IMS Health experts from across the region to engage in conversations about the forces that are shaping healthcare in Asia - and the strategies necessary to surge ahead of the competition
By Venkitasubramanian Akshay
When it comes to healthcare, there are two India's – a country that provides state of the art medical care to middle-class Indians and attracts medical tourists; and another where a majority of its own citizens cannot afford or even get access to basic healthcare.
Disruption Set in Motion by Healthcare Consumerism.pdfMindfire LLC
Healthcare consumerism is the health industry’s shift towards a more value based care; it is a movement for a more cost effective and efficient delivery of healthcare services. It connotes the patient taking control of their health and wellness by managing all aspects of one’s healthcare landscape – including health benefits, medical insurance and retail health. In short, the goal of healthcare consumerism is to enable patients to become wholly involved in their healthcare decisions.
Healthcare On Demand: New Provider Business Models for the Digital EconomyCognizant
Health consumers empowered by digital technology now expect on-demand, anytime, anywhere service, forcing providers to develop new models of care to compete successfully in the emerging consumer-to-business health marketplace.
Technology is disrupting healthcare just as it has in so many other areas of life. New players and
new approaches are proliferating but while the changes may seem dazzlingly diverse there is a single, underlying driving force. Digital transformation in healthcare has many elements: health data privacy, ethical AI, IOT solutions, many brought to the market by new disruptors. These are all valuable elements of transformation, but ultimately they are steering to a single goal; empathetic care of
the empowered patient. In this increasingly patient-centric future it is the empathetic care, not the technology itself, that will prove to be the outstanding feature. The market leaders in this landscape will be those who embrace and explore its possibilities.
Living in a hyper-connected world, patients have never been so well informed or had so much decision- making power, at least when it comes to chronic diseases. Less dependent on their doctors for advice, increasingly able and willing to take greater control of their own health, they feel empowered by the vast amount of health information available online, on apps, and by the array of health and fitness wearables.
Such consumer digital empowerment is pushing rapid change in healthcare provision. Industry leaders across providers, insurers, medical technology and the pharmaceuticals industry, need to re-imagine
the traditional spectrum of sales, marketing and commercialisation processes by developing empathetic engagement tools to accompany and support the patient on their personal journey. This digital transformation imperative becomes a huge challenge because of the complexity of the industry ecosystem and the varying models in APAC.
With widely varying reimbursement and access challenges across APAC countries, coupled with diverse social and cultural norms, it is important for pharma, insurance, and healthcare providers to work together with partners who have local, real-world expertise when it comes to understanding patient behaviours. Together those partnerships can deliver solutions that will impact patient lives positively. Across APAC the opportunities are considerable with a huge growing market for medication and care, but there are also significant cultural and financial hurdles to the uptake of treatments.
Healthcare Rx: The Rise of the Empowered ConsumerCognizant
Market and digital forces have combined to enable the healthcare industry to treat much of what ails it — or be supplanted by newcomers who can more quickly seize the digital high ground.
mHealth Israel_Impact of Digital Innovations on Healthcare in Asia: 2020_Finn...Levi Shapiro
Report by Finn Partners: Impact of Digital Innovations on Healthcare in Asia- 2020. Deep-dive analysis across healthcare delivery, healthcare financing and healthcare discovery. Sections include Healthcare in the Digital Age, Digital health brings patient care to where it is needed the most, Innovative fintech solutions deliver affordable healthcare to Asia, More data and better insights delivered by AI and machine learning, Digital health is the future.
"eHealth Literacy, Getting Started" was presented at the Center for Health Literacy Conference 2011: Plain Talk in Complex Times by Shannah Koss, MPP, President, Koss on Care LLC (Principal, MAXIMUS eHealth Literacy Collaborative).
Description: Learn how to design and develop a consumer-oriented strategy and foundation for outreach, education, and engagement in the early stages of your state or community's health IT and reform programs. Find out about funding options. Share challenges and solutions for integrating eHealth literacy tools and resources into the emerging health IT infrastructure.
Greater Interoperability in Healthcare 2022: Data & TechnologyInferscience
Inferscience offers the best HCC medicare risk adjustment services in Newton, MA. Inferscience has taken advantage of these new wider rules to expand functionality. Inferscience’s proprietary technology can extract clinical data from any web-based EHR and standardize it. The data can be made available to any application via API. It is the expectation that expanding functionality with these types of features will at the end of the day benefit providers and patients as well. The most important consideration, therefore, for the continuing success of this road map is for all interest groups to participate with attentiveness and intentionality. Because in the end, collaboration is the key to greater interoperability in healthcare.
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the foreword written by Brad Smith for Microsoft’s report Governing AI: A Blueprint for India. The first part of the report details five ways India could consider policies, laws, and regulations around AI. The second part focuses on Microsoft’s internal commitment to ethical AI, showing how the company is both operationalizing and building a culture of responsible AI. The final part shares case studies from India demonstrating how AI is already helping address major societal issues in the country.
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Healthcare Retail Opportunities In India - Kapil Khandelwal, www.kapilkhandelwal.com
1. RETAILInsight
Healthcare Retail:
Picking up pace
Kapil Khandelwal says that healthcare retail emerged as a
concept around two years ago. However, its convergence
with cross-domain sectors like retail, education and
manufacturing is a very recent development
O
Over the last few years, the Indian retail, healthcare and Organised retailing
information communications and technology (ICT) In urban India, it is estimated that over 200 retail stores
sectors have undergone rapid growth and transition to and malls are in the pipeline, with over 200 million
meet the western standards of quality and service square feet of space. Under the current circumstances,
delivery. However, the current economic slowdown is with the lowering of rental yields and higher cost of
forcing each of these sectors to rethink their business finance, it is imperative to innovate newer retail models.
and operating models and innovate.
Healthcare retailing and care delivery
Current trends and challenges ahead With approximately 4-5 percent of the overall organised
The current economic scenario has created several retail space in urban India dedicated to healthcare and
systemic shifts in the way retail, healthcare and ICT allied products and services, there is potential to grow
players can leverage the emerging consumer trends and be at par with our western counterparts.
and challenges.
ICT services
ICT players and solution providers in India have
introduced new low-cost solutions that can serve a
potential population base of over 70 million in urban and
semi-urban India. The role of ICT services is expected to
grow the distribution of healthcare delivery outside the
traditional setting of the doctors clinic. With the kick-off
of national ID initiative announced in the recent budget,
a unique ID would serve in enabling a portable
healthcare record system in a seamless health
information system linked to the unique ID by the
healthcare and ICT solution providers.
Consumer needs and preferences
There are potentially over 40 million households in
urban and semi urban areas, predominantly in the
northern, western and southern Indian states that have a
high risk of chronic diseases, given the genetic
disposition. With consumerism in healthcare,
households in SEC segments A and B have identified
issues to access and price their wellness, preventive,
curative and chronic healthcare, pharmacy and
support services.
With the current economic slowdown, there have
been increased preferences to switch and delay wellness
and preventative care products and services. Consumers
also prefer providers who can give appointments the
same day, consult over the phone, or extended hours and
24 RETAIL BIZ JULY 2009
2. RETAILInsight
on weekends or holidays in the same shopping vicinity,
avoiding long trips. Clearly, price and proximity matters
as consumers are altering their shopping patterns for
price, availability and access. Some of the above
emerging trends in the sectors are enabling a
convergence and a paradigm shift towards health retail
2.0. that leverages on the convergence of retail and
healthcare delivery integrated with ICT solutions.
Healthcare retail 2.0: Conceptual framework
Healthcare retail 2.0 emerged as a concept around two
years ago. However, its convergence with cross-domain
sectors like retail, education, manufacturing, etc is a very
recent development. There are several key characteristics
that emerged as a result of this:
A new location or a way of connectivity between
patients, and patients with their care provider
The sharing and transparency of information about
care, health and providers, and the support in choice and
delivery of healthcare care in a retail format
The self-management and access to health
information of individual patients in any health status,
whether healthy or chronically sick
Interoperability of health information, which benefits
the sharing and access to this information leveraging ICT
technologies from one service provider or location quick consultation and turnaround for the whole
to another spectrum of healthcare, right from wellness to chronic
The empowerment of patients through widespread disease management. Such clinics would have specialist
and richness of information to make choice on the physicians available for consultation virtually, for referral.
location of his care and its setting
The open conversation about and innovation of health Emerging retail formats
care through consultation of all stakeholders and Some of the newer formats that would emerge out of
application of a new business model based on multiple health retail 2.0 convergence would be ones that create
value creation new innovative and disruptive delivery models of
Growing role and importance of various players and healthcare in India. These would include:
intermediaries, who enable the conversation between In store clinics:
patient and caregiver, at the same time contributing to it These clinics would look like urgent care clinics that
would be located in retail/pharmacy chains with a space
The branded healthcare clinic chains have been in of 100 to 200 sq feet. The nurse/general practitioner
India for a few years with well established names such as would have access to specialists for referral to the hospital
Apollo, Manipal, Fortis, Kaya, Ayush, VLCC etc. to name chain to which it is affiliated. These clinics would be
a few. Newer ICT-enabled models such as EMRI, HMRI, operated seven days a week with extended hours.
Healthcare Magic, etc have also emerged as a Medical spas:
complement to delivering healthcare consultation and These would potentially be offering lifestyle oriented
response remotely. Initiatives in rural India are already consultations within salons and spas. They would address
ongoing to ensure that the village entrepreneur who is areas from nutrition, exercise to massage, cosmetic
operating the Information Kiosks can also enable surgery etc. These outlets would be affiliated to beauty
ICT-enabled healthcare delivery. Diagram 1 in this article and cosmetic counters.
provides a contextual frame of reference for healthcare Express health and diagnostic clinics:
retail 2.0 operating model. Typically staffed by a nurse or a general practitioner, these
With potential retail space available in metros, urban are walk-in clinics to facilitate quick diagnostic and check
and semi urban at lower rentals, there is potential for a up for non-emergency care for preventative and chronic
business model of conveniently providing standardised, care.
fast, limited services at transparent prices by retail chains Health and wealth counselling:
in partnership with pharmacy or healthcare clinic chains. These clinics would provide specialist counselling
These clinics would be enabled by technology to facilitate sessions that would involve both a health assessment and
RETAIL BIZ JULY 2009 25
3. RETAILInsight
insurance/wealth management advise including product Cost:
solicitation. The formats here could be single brand While consumerism is forcing transparent low-cost
or multi-brand. models to emerge, successful models would be the ones
Specialist clinics: that can clearly provide value at lower operating costs. A
Linked with particular brands and products, these clinics transparent menu card pricing approach for the services
would offer scope for augmentation through specialist would drive traffic. While costs and time are critical
consultations with dermatologists, dietician, dentists etc. elements of this model, retailing of healthcare would need
Call center-based disease/case management with
b to create an ambience which is in line with these.
community clinics: Standardisation of services:
This model emerged in the US where case managers are Care delivery models that would have standarised process
assigned to the patient who is chronically ill. In case of would have the biggest impact on the cost and value
any consultation or walk-ins required, the patient walks delivered. These could be stretched further to include
into the in-store clinics in their community. quality measures to improve on the services and the care
Kids health and wellness: outcomes.
These clinics are within children stores that can provide Time and place convenience:
easy diagnosis for common ailments and also One of the critical riders of success of such models is the
vaccinations and inoculations that are due. ability to provide seamless 24x7 anytime, anywhere
service. ICT technologies coupled with location of
Key success factors for healthcare retail 2.0 such clinics would augment the value of the
While the jury is still out there to evaluate the emerging services delivered.
shifts in healthcare delivery innovation in India, some of Branding:
the critical success factors to this emerging model for care Services co-branding with healthcare products/services
delivery include: provider would definitely positively associate with such
Integration with hospital provider: services and also enable additional foot falls into the retail
Consumer confidence to such disruptive innovation in outlets.
healthcare delivery would be instilled if there is a Information technology:
branded hospital provider supporting the seamless Affordable, compact diagnostic devices that are
delivery of care. connected with healthcare ICT systems and evidence-
Diagram 1
Wellness Health Status Disease Treatment
& Prevention (CDC Adapted) & Management
Heally Vulnerable Affected Sick (Acute) Sick (Chronic)
Virtual
Home
location
Work Employee clinics
Outpatient clinic Healthcare retail 2.0
Emerging Urgent care clinics (After hours)
Hospital
Long-term care
26 RETAIL BIZ JULY 2009
4. RETAILInsight
based health information systems are the key to success in India, these clinics would be low-cost access points for
for any retail-based healthcare delivery model. customers and opportunity to augment their service
Continuity of care: offerings.
As the retail models of healthcare delivery would evolve Venture funding and investors:
over time to become mainstream, the need for continuity The key driver for growth of such innovative models for
of care for conditions is important. Linkages through healthcare delivery would be funding for such outlets.
hospital tie-ups and information systems is an important There is potential for PE and VC firms to explore such
aspect here. models for entrepreneurial investments in healthcare
that provide quicker break even and exits in less than
Key stakeholder perspectives three to four years timeframe.
The win-win from various stakeholders in the emerging Quality accreditation agencies:
healthcare retail models would have to be analysed to Agencies like NABH, JCIA etc would have to evolve
ensure that tweaks are made appropriately for long-term approaches to ensure that these models are accredited to
success: provide consumer confidence.
Retailer/mall host: Consumers:
The retail player gains through participation in the The healthcare retail models offer consumers to decide
model by ensuring increased foot falls and private label how, when, where to seek healthcare services from a
sales. Apart from lease rentals and/or profit sharing, wide range of options and formats. Most conventional
other incremental revenue streams that would accrue healthcare providers may disagree about what the
from this model include shelf slotting fees, co-promotion patients think and require. However, the innovation life
and sponsorship. cycle in retail takes three to five years to mature as
Healthcare retail operator: compared to over 15 years in healthcare and hence this
While the economics for the healthcare retail operator could lead to breakthroughs in meeting consumer
are challenging, the operating costs have to be managed requirements.
tightly. The pricing strategy would have to ensure that With the successful emergence of various
there are adequate number of customers averaging four healthcare retail formats and transparency of
to five per hour. information about care, health and providers, and the
Healthcare insurance providers: support in choice and delivery of healthcare care in a
While outpatient visits are currently not covered by many retail format, there is nothing can that stop healthcare
of the health insurance providers in India. These models retailing in India from moving forward and achieving
could enable newer products that would cover outpatient an 'at par' status with its western counterparts in the
health insurance as well as tie-ups for health-wealth years to come.
counselling setting to solicit health insurance coverage.
Disease management providers: The author is one of India’s leading experts in healthcare and
As new models of chronic disease management emerge life sciences IT in Asia Pacific and emerging markets.
RETAIL BIZ JULY 2009 27