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March | Issue 03 | 2024
www.insightscare.in
LIMITED
Naviga ng the Future
Trends and Innova ons in
India's Diagnos c Sector
From Lab to Life
The Impact of Diagnos cs
on Pa ent Care in India
Suprita Reddy
Managing Director
and Chief Execu ve Officer
Vijaya Diagnos c Centre
Limited
Top5
in
2024
in India to Watch
Diagnostic
Companies
Editor’s
Note
he Indian diagnostic industry is undergoing
Tsignificant growth, driven by the increasing demand
for diagnostic services, the adoption of technology,
and the rise of chronic, lifestyle, and communicable
diseases. The pandemic has further accelerated this growth,
with a shift towards preventive healthcare, the spread of
healthcare services and insurance, and the integration of
technology and digitization.
In this exclusive edition, we will highlight the inspiring
success stories of some of the industry’s leading companies.
These organizations have established a significant presence
in the Indian diagnostic market, demonstrating their
commitment to quality, innovation, and patient care. They
are making significant strides in the Indian diagnostic
market, offering a wide range of diagnostic services,
including pathology testing and imaging services.
Through these profiles, you will learn about their role in
contributing to the broader healthcare ecosystem, ensuring
early disease diagnosis, and facilitating the identification of
root causes to provide the most suitable and effective
therapies.
Insights Care India is proud to feature these industry
leaders in its latest edition titled, ‘Top 5 Diagnostic
Companies in India to Watch in 2024.’ We will dive into
the strategies these companies employ to navigate the
complexities of the market, from mergers and acquisitions
to collaborations and the provision of additional services.
We aim to provide our readers with profound insights into
the industry, showcasing how these companies are not just
surviving but thriving in the face of change.
Our focus is on understanding how these companies are
leading as major contributors to this growth, with their
remarkable stories of innovation, resilience, and commit-
ment to excellence. We are proud to feature these industry
leaders and look forward to continuing to highlight the
remarkable work being done in the Indian healthcare sector.
Wishing you an insightful read!
Strengthening
Care with Precision
-Nisha Mehra
NishaMehra
CONTENTS
Articles Navigating the Future
Trends and Innovations in
India’s Diagnostic Sector
From Lab to Life
The Impact of Diagnostics
on Patient Care in India
26
34
Profiles
Accurex Biomedical
Pioneering Affordable
Healthcare Solutions
22
Health Insta-24/7
Pioneering Diagnostic
Excellence in the Modern Era
30
Vijaya Diagnostic
Centre Limited
Raising the Bar in
Healthcare with Smart
Diagnostic Solutions
08
Cover Story
Editor-in-Chief Pooja M. Bansal
Sameen Arif
Visualiser
Deepanjali Jena
Art & Design Head
Sandeep Tikode
Circulation Manager Tanaji Fartade
Ashwini, Ninad
Business Development Managers
Swapnali Vasaikar
Sr. Vice President
Sr. Sales Executive Dhanashree
Technical Head Prachi Mokashi
Technical Specialist Prashanth Hiremath
Digital Marketing Manager Renuka Kulkarni
Assistant Digital Marketing Manager Nikita Khadalkar
Managing Editor Pooja Shah
Assisting Writer Nisha Mehra
March, 2024
sales@insightscare.in
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Copyright © 2024 Insights Success Media and Technology Pvt. Ltd., All rights reserved. The content and images used in this magazine should not be reproduced or
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Follow us on : www.facebook.com/InsightsCare/ https://twitter.com/Insightscare
Art & Picture Editor
Technical Consultant Rajeshwari Avhad
We are also available on :
Brief
Featuring
Person
Company
Health Insta-24/7 is a diagnostic center that
operates round the clock, providing convenient
access to healthcare services.
Lotus Diagnostic Centre is a trusted name in the
diagnostic industry, offering a comprehensive
range of diagnostic services.
Accurex Biomedical is a leading company
specializing in biomedical equipment and
diagnostic solutions.
QC Healthcare Labs & Diagnostic is a reputable
healthcare facility known for its advanced
laboratory services and diagnostic capabilities.
Health Insta-24/7
Gayathri V
CEO
Abhinav Thakur
Managing Director
Anil Agarwal
CEO
Raj Arpan Tiwari
Founder & CEO
Accurex Biomedical
accurex.net
Lotus Diagnostic
Centre
lotusdiagnostic.com
QC Healthcare Labs
& Diagnostic
qchealthcare.com
Vijaya Diagnostic Centre Limited is a renowned
diagnostic center offering a wide range of
pathology and imaging services.
Suprita Reddy
Managing Director &
Chief Executive
Officer
Vijaya Diagnostic
Centre Limited
vijayadiagnostic.com
Top5
2024
in India to Watch in
Diagnostic
Companies
LIMITED
Raising the Bar in Healthcare with Smart Diagnos c Solu ons
‘‘With a hands-on approach to
understanding the intricacies of the
industry, Suprita immersed herself in
the day-to-day opera ons,
priori zing customer needs and
devising op mal solu ons to address
them effec vely.
‘
‘
Cover Story
Suprita Reddy
Managing Director
and Chief Execu ve Officer
Vijaya Diagnos c Centre Limited
Prevention is better than cure, a quote commonly
heard in healthcare now resonates with almost every
individual. With the escalating burden of chronic
diseases, rising healthcare costs, and the increase in
lifestyle-related diseases, there is a growing realization
among people about the significance of regular medical
check-ups and diagnostic tests. The increasing importance
of diagnostic services has had a profound impact on
healthcare systems worldwide, leading to a significant
expansion of the diagnostic industry in India as well.
Diagnostic centres now offer a comprehensive array of
services ranging from routine tests to imaging and
laboratory examinations.
Among the reputed names in this domain is Vijaya
Diagnostic Centre Limited, an eminent player in India's
healthcare sector. With a vast network of over 160 centres,
it is India's largest integrated B2C diagnostic chain. The
centre offers a comprehensive range of diagnostic services
encompassing pathological investigations, advanced
radiology, nuclear medicine, and associated healthcare
solutions. Its focus on quality has earned it accreditations
from the NABH and NABL.
Vijaya Diagnostic Centre provides a spectrum of pathology
tests ranging from basic biochemistry to sophisticated
cytogenetics, alongside an array of radiology services
including echocardiograms, X-rays, ultrasounds, CT scans,
MRI scans, SPECT, and PET CT scans. Moreover, the
company tailor's health and wellness packages to meet
individual customer needs.
Taking the lead at Vijaya Diagnostic Centre is Suprita
Reddy, an experienced professional serving as the
Managing Director and Chief Executive Officer.
'
Top 5 Diagnos c Companies in India to Watch in 2024
Recognizing the
importance of providing
superior medical care, Vijaya
Diagnos c Centre focuses on
delivering accurate
diagnos c findings promptly
to enable op mal pa ent
outcomes.
‘
‘
‘‘
'
With a strong background in core HR functions within the
healthcare industry, Suprita's leadership has been crucial in
driving the company's growth and development. Her
strategic insight and industry expertise have been
instrumental in solidifying Vijaya Diagnostic Centre's
position as a leader in India's diagnostic landscape.
With a commitment to providing high-quality, cost-effective
diagnostic services, Vijaya Diagnostic Centre continues to
expand its reach and capabilities.
One Center for All Diagnostic Needs
Vijaya Diagnostic Centre's journey of excellence traces
back to 1981 when it was founded to address the critical
need for comprehensive diagnostic services all under one
roof. Dr. S. Surendranath Reddy, the Executive
Chairman, is the visionary who established the
organization's inaugural center.
Since its inception, the centre has consistently elevated the
standards of quality, with a strong emphasis on customer
needs and convenience, positioning itself as a preferred
brand and a leading integrated B2C diagnostic chains in
India. With a proud network of 160 branches spanning 25
cities, Vijaya operates with a team of 2500 professionals,
including top-tier radiologists and pathologists.
Renowned for its trust among customers, clinicians, and
healthcare organizations, Vijaya Diagnostic Centre is
affiliated with over 500 companies in both the public and
private sectors. Throughout its four-decade tenure, the
organization has been at the forefront of innovation and
technology adoption in the diagnostic field while upholding
Driven by innova on,
a commitment to con nuous
improvement, and a customer-centric
ethos, Vijaya Diagnos c Centre has
successfully made high-quality
healthcare services not only accessible
but also affordable.
‘
‘
‘‘
the commitment to superior quality standards. The primary
focus remains on addressing customer needs by providing
convenience, comfort, and safety at all times.
Dr. S. Surendranath Reddy's entrepreneurial spirit and
leadership have been foundational to the company's
development and achievements, positioning it as a
prominent player in the diagnostic industry.
Faster and Accurate Results
Vijaya Diagnostic Centre offers a comprehensive range of
diagnostic tests, ensuring prompt delivery of results to
patients. With a focus on efficiency, test results are provided
on time. The lab test packages are competitively priced,
making quality healthcare accessible. All laboratories
within the network hold National Accreditation Board for
Testing and Calibration Laboratories (NABL) certification,
guaranteeing high standards of quality.
Employing a skilled team of over 250+ radiologists,
microbiologists, and pathologists, Vijaya Diagnostic Centre
maintains expertise in-house. Additionally, the centre
extends Corporate Wellness solutions, catering to both
onsite and offsite health check-ups. Serving a diverse
corporate clientele comprising over 400 multinational
corporations in India, these wellness programs are designed
to optimize employee health and well-being, ensuring a
productive workforce for businesses.
Leading the Indian Diagnostic Space
Vijaya Diagnostic Centre has always stood out in the
diagnostic sector since its inception in the 1980s. Its unique
concept of integrated diagnostics under a single roof has
made it a leader in the diagnostic landscape.
The centre ensures timely and cost-effective delivery of
high-quality diagnostic care, whether through home sample
collection or within the secure environment of their
diagnostic centres. Recognizing the importance of
providing superior medical care, Vijaya Diagnostic Centre
focuses on delivering accurate diagnostic findings promptly
to enable optimal patient outcomes.
Vijaya Diagnostic Centre ensures that each diagnostic clinic
bearing its name is equipped with state-of-the-art medical
instruments and diagnostic devices. The recruitment process
at the centre is stringent, with a focus on hiring only the
most qualified professionals who possess the necessary
skills and experience for their roles.
With a commitment to maintaining consistency in safety
and quality, Vijaya Diagnostic Centre precisely manages its
labs and designs services to meet stringent quality control
standards. Upholding ethical norms is paramount across all
Vijaya diagnostic centres nationwide, ensuring that its
services always prioritize patient well-being and
compliance with ethical guidelines.
Known for its groundbreaking initiatives in introducing the
latest technology and advanced equipment, Vijaya has
consistently maintained the highest standards of quality,
delivering an unmatched customer experience at all times.
Below are some of the noteworthy achievements that
highlight its position in the diagnostic domain:
Ÿ A state-of-the-art equipment portfolio featuring more
than 30 MRI and CT machines, along with 8 PET
CT/Gamma machines.
Ÿ Pioneering the introduction of Dual Source CT in the
Telugu states of Andhra Pradesh and Telangana,
revolutionizing cardiac screening by reducing scan time
and radiation exposure.
Ÿ Introducing advanced techniques like Wide Bore 3T
MRI and open MRI to alleviate claustrophobia
concerns, particularly in children and the elderly.
Ÿ High-end PET-CT machines enhance scanning comfort,
and imaging clarity, and reducing scan times.
Ÿ Offering holistic wellness packages that extend beyond
traditional healthcare to prioritize preventive care and
lifestyle-specific diseases.
Ÿ Providing doorstep laboratory services and a
comprehensive mobile application for convenient test
booking and report access.
In Pursuit of a Noble Profession
Suprita's dedication to healthcare stemmed from a deep
respect for the noble profession and a philanthropic desire
Evidence of Vijaya's
dedica on to industry-leading
quality standards is the NABL
accredita on granted to all
labs within its network.
‘
‘
‘‘
to enhance accessibility to quality healthcare services. This
vision materialized through the innovative 'all under a roof'
diagnostic service delivery model, emphasizing a
comprehensive customer experience infused with
innovation and excellence.
In 2002, Suprita embarked on her journey with Vijaya
Diagnostic Centre, drawing inspiration from her father's
diligent and dedicated management of the business. With a
hands-on approach to understanding the intricacies of the
industry, Suprita immersed herself in the day-to-day
operations, prioritizing customer needs and devising
optimal solutions to address them effectively. Guided by
values of customer satisfaction, excellence, innovation, and
continuous improvement, Suprita's leadership played a
pivotal role in shaping Vijaya's success story, making it a
preferred brand in the diagnostic sector.
Accessible and Affordable Healthcare
Driven by innovation, a commitment to continuous
improvement, and a customer-centric ethos, Vijaya
Diagnostic Centre has successfully made high-quality
healthcare services not only accessible but also affordable.
Through strategic expansion initiatives and the introduction
of innovative service delivery methods such as home
collection and online booking, the centre has effectively
removed barriers to accessing quality healthcare. This focus
on enhancing customer convenience has been instrumental
in realizing the organization's vision of delivering the
optimal customer experience consistently.
A Trusted Brand
Vijaya Diagnostic Centre's commitment to upholding high-
quality standards has always been proactive rather than
reactive, driven by a stringent quality policy reinforced by
regular inspections and audits. Embracing surprise checks
with a positive attitude, the organization prioritizes
thorough documentation, adherence to standards, and
continuous training to ensure success during both planned
and impromptu inspections.
Across its extensive network of centres, Vijaya Diagnostic
Centre maintains a steadfast focus on replicating consistent
quality standards. The organization's robust quality
assurance policy is complemented by routine audits and
inspections. Evidence of Vijaya's dedication to industry-
leading quality standards is the NABL accreditation granted
to all labs within its network.
NABL accreditation signifies adherence to international
industry standards in processes and procedures,
guaranteeing the delivery of precise and top-notch
diagnostic services to customers. This accreditation also
serves as a validation of the credibility and reliability of the
service provider, further solidifying Vijaya's reputation as a
trustworthy brand in the healthcare sector.
Cultivating a Positive Work Culture
Suprita emphasizes that at Vijaya Diagnostic Centre, the
workforce is highly valued and nurtured within a positive
and collaborative work environment. Recognizing that each
employee's involvement is integral to the organization's
success, Vijaya empowers, motivates, and provides the
necessary tools for every individual to innovate and
contribute towards achieving the shared vision. The
company actively advocates for employee engagement and
maintains a flat hierarchy, adopting a culture that
encourages the unrestricted exchange of ideas and ensures
unimpeded access even to the highest levels of leadership
within the organization.
Tech-Friendly
Vijaya Diagnostic Centre has leveraged technological
advancements to elevate customer satisfaction and enhance
convenience and comfort. The implementation of an AI-
powered mobile application enables seamless test booking
with just a few simple steps from the comfort of one's
home. Additionally, test reports are conveniently archived
within the app, allowing for easy access via mobile devices.
This digital transformation has enabled Vijaya Diagnostic
Centre to streamline the customer journey from start to
finish, simplifying the entire process and ensuring a hassle-
free experience for customers.
A Strategic Plan for Expansion
In the future, Suprita envisions Vijaya Diagnostic Centre
expanding its network of centres with a steadfast focus on
quality and customer satisfaction. The organization aims to
reach new milestones and solidify its position in the
diagnostic sector through innovation and the integration of
advanced technology.
As part of a strategic expansion strategy, Vijaya Diagnostic
Centre plans to fortify its presence in the home market by
extending into Tier 2 and Tier 3 cities within Andhra
Pradesh and Telangana. The organization also intends to
broaden its footprint in East India by expanding its network
in Kolkata, while initiating a dense network establishment
in and around Pune in West India. Venturing into adjacent
regions, Vijaya Diagnostic Centre has recently established a
hub in Gulbarga, Karnataka, with ongoing efforts to
systematically expand operations in that area.
By acquiring PH Diagnostic Centre in Pune, Vijaya
Diagnostic Centre has significantly marked its presence in
Western India. The organization's pursuit of acquisition
opportunities demonstrates its commitment to broadening
its scope and influence. With a forward-looking strategy, the
Centre is focused on improving its market standing, driving
innovation, and strengthening its industry impact. This
proactive approach to acquisitions demonstrates a
commitment to adapting to market changes, ensuring
continuous growth, and securing long-term success.
Vijaya Diagnostic Centre's expansion endeavours will
remain continuous and methodical, guided by a structured
approach involving market research, identification of
customer needs, and recognition of business opportunities.
Being recognised as the Top
Diagnostic Company is the result of
Vijaya Diagnostic Centre's diligence
in abiding by the highest standards
of quality, being at the forefront of
adopting advanced technology,
innovation, continuous improvement
and its dedication to religiously
safeguard its mission – that of
offering integrated diagnostic
services of the highest order at
affordable prices, with the customer
as the central focus of the business.
All these have enabled Vijaya
Diagnostic Centre to grow in stature
to the brand that it is today, and it
continues to remain true to its
calling even in the time to come.
Maintaining
the Top Spot
Accurex
Biomedical
Pioneering Affordable Healthcare Solutions
We envision a
future where
diagnostics
are accessible
and
affordable to
the
majority of our
nation.
‘
‘
‘
‘
Abhinav Thakur
Managing Director
Accurex Biomedical
March 2024 www.insightscare.in
22
Within the Indian healthcare landscape, where
innovation and determination drive progress,
emerges a figure of profound inspiration:
Abhinav Thakur Managing Director Accurex
, the of
Biomedical. With a relentless dedication to excellence and
a vision for transformative growth, Abhinav has played a
key role in leading Accurex Biomedical to unparalleled
success in the medical device industry.
Abhinav’s journey is not merely a tale of professional
success; it is a story of resilience, determination, and
commitment to family and legacy. Following the untimely
demise of his father in 2004, Abhinav made the courageous
decision to return to India from the United States, where he
had pursued his undergraduate studies at the University of
California, Davis. Faced with the responsibility of
upholding his family’s business legacy, Abhinav stepped
into the role with determination, driven by the belief that
growth is the lifeblood of any business.
A firm believer in the power of flexibility and quality,
Abhinav Thakur emphasizes the importance of adaptability
in navigating the rapidly evolving landscape of medical
diagnostics. With a clear vision for the future, he aims to
drive Accurex Biomedical towards new heights.
Today, Abhinav Thakur’s story serves as a source of
inspiration for aspiring individuals seeking to make a
meaningful impact in the healthcare sector.
As Accurex Biomedical continues to chart new horizons
under his guidance, Abhinav’s legacy of innovation and
growth will undoubtedly leave a lasting mark on the
landscape of Indian healthcare.
Bridging Healthcare Divides—Accurex Biomedical’s
Mission
Abhinav emphasizes the inherent link between ownership
and motivation. When individuals participate in decision-
making and have a stake in the outcomes, they feel invested
in the success of the organization. This approach instills a
deep sense of commitment and dedication among team
members.
When team members contribute to decision-making, they
feel a greater sense of ownership. They are more inclined to
safeguard what they have helped create. This collaborative
approach not only motivates individuals but also
strengthens a collective resolve to achieve their goals.
Regardless of intellect, a leader’s
impact relies on their ability to
communicate. It’s through clear and
compelling communication that
leaders inspire and motivate their
teams.
‘
‘ ‘
‘
Overcoming Service Expansion Challenges at Accurex
Reflecting on a critical challenge, Abhinav recounts a
period of rapid growth at Accurex, where the surge in
equipment sales outpaced the expansion of their service
network. This disjunction posed a significant obstacle,
requiring strategic solutions to ensure continued customer
satisfaction and business success.
“Balancing the pace of equipment sales with service
expansion presented a significant challenge,” Abhinav
acknowledges. Maintaining parity between installations and
service capabilities was essential for sustaining their growth
trajectory.
Top 5 Diagnos c Companies in India to Watch in 2024
www.insightscare.in
March 2024 23
To address this challenge, Accurex implemented a
multifaceted approach focused on enhancing service
proficiency. Investing in training initiatives emerged as a
key strategy, with offline training sessions convened to
equip service engineers with the necessary skills and
knowledge.
Abhinav elaborates, “We prioritized comprehensive training
for our service engineers, organizing offline sessions and
leveraging our factory facilities to provide hands-on
instruction. Additionally, we facilitated international
training opportunities, sending engineers to Italy to further
polish their expertise.”
The Importance of Dedicated Resources for
Technological Advancement
Abhinav underscores the critical need for dedicated
resources to head technological advancement within
organizations. Recognizing the challenges posed by
competing priorities and day-to-day responsibilities, he
emphasizes the value of appointing specialists to stay
abreast of the latest developments and drive innovation
forward.
“In the fast-paced landscape of technological evolution, it’s
essential to have a dedicated resource focused on exploring
and implementing new technologies,” Abhinav affirms.
“With everyone immersed in their daily tasks, allocating a
dedicated individual ensures that we remain proactive in
leveraging emerging technologies to enhance our
operations.”
Abhinav illustrates this approach with the example of hiring
an AI officer to lead initiatives related to artificial
intelligence. This dedicated resource is tasked with
monitoring AI developments, identifying opportunities for
integration within the organization, and leading
implementation efforts.
Accurex’s Vision for Affordable Diagnostics
Abhinav’s vision for the future of Accurex is rooted in a
commitment to democratizing diagnostics across India.
Recognizing the current reliance on imported products,
which often come with heavy price tags, he aims to lead a
transformative shift towards localized manufacturing.
“We envision a future where diagnostics are accessible and
affordable to the majority of our nation,” Abhinav
expresses. “With approximately 80% of diagnostics
imported, there exists a significant opportunity to localize
production, thereby reducing costs and expanding access.”
Central to this vision is the pursuit of localized
manufacturing, enabling Accurex to offer high-quality
diagnostic solutions at more affordable price points. By
supporting domestic production, the company seeks to
bridge existing accessibility gaps and empower healthcare
providers nationwide.
Furthermore, Abhinav outlines Accurex’s aspirations for
continued growth, aiming to ascend to the ranks of the top
three Indian diagnostic companies. This ambition reflects
the company’s steadfast dedication to innovation, customer
satisfaction, and market leadership.
“Our journey doesn’t end at affordability; we aim to be
among the foremost diagnostic companies in India,”
Abhinav asserts. “Through relentless innovation, strategic
partnerships, and relentless commitment, we will continue
to elevate healthcare accessibility and redefine industry
standards.”
Upholding Ethical Leadership
Drawing from his own experiences and convictions,
Abhinav offers valuable advice to aspiring leaders, stressing
the paramount importance of ethical conduct, particularly in
the field of healthcare. He underscores the enduring
significance of integrity, emphasizing its role in promoting
long-term success and sustainability.
“Ethical leadership is non-negotiable,” Abhinav asserts.
“While shortcuts may offer temporary gains, they lead to
consequences that delay progress in the long run. In
healthcare, where lives are at stake, ethical decision-making
is imperative.”
Abhinav emphasizes the imperative of prioritizing quality,
accuracy, and precision in product development and service
delivery. He underscores the fundamental obligation to
uphold standards that prioritize patient well-being above all
else.
“Quality and precision must always take precedence,”
Abhinav affirms. In healthcare, the stakes are too high to
compromise on excellence. By prioritizing integrity and
adherence to ethical principles, aspiring leaders can
safeguard both the reputation of their organization and the
well-being of those they serve.
March 2024 www.insightscare.in
24
March 2024 www.insightscare.in
26
ndia’s diagnostic sector is undergoing rapid transforma-
Itions, driven by factors such as increasing incidence of
lifestyle-related diseases, greater awareness of health-
related concerns, growth of medical tourism, and the need for
cost-effective solutions. As we navigate the future of healthcare
in India, the diagnostic sector stands at the forefront of innova-
tion, poised to enhance patient care through technological
advancements and shifting consumer expectations.
This article explores the trends and innovations shaping India’s
diagnostic landscape, highlighting the transformative potential
of diagnostics in the years to come.
Key Challenges
The Indian medical diagnostics market faces several challenges,
including the high price of medical diagnostic equipment, lack
of access to sophisticated medical diagnostics in rural areas, and
the need for financing options for expensive equipment. To
address these challenges, innovative solutions such as the
development of low-cost diagnostic equipment, expansion of
diagnostic services in rural areas, and the introduction of
financing options for expensive equipment are being explored.
The Indian government, under the National Health Mission, has
started the Free Essential Diagnostics Initiative to ensure
availability and access to diagnostic tests at primary health
centers (PHCs), community health centers (CHCs), sub-
divisional hospitals (SDHs), district hospitals (DHs), and
medical colleges (MCs) in states. This initiative aims to
strengthen the public health facility to enable delivery of
diagnostic services, especially low-cost high volume diagnostic
tests.
Emerging Opportunities
The Indian diagnostic sector offers significant opportunities for
www.insightscare.in
Navigating the Future
March 2024 27
Trends and
Innovationsin India’s
Diagnostic
Sector
growth and development, driven by factors such as the
increasing demand for early disease diagnosis, the need for
cost-effective solutions, and the growing awareness of
health-related concerns. Key opportunities include the
development of low-cost diagnostic equipment, the
expansion of diagnostic services in rural areas, and the
introduction of innovative financing options for expensive
equipment.
The Rise of Point-of-Care Testing (POCT)
The COVID-19 pandemic has underscored the critical role
of diagnostics in managing infectious diseases, driving a
surge in the demand for rapid and on-the-spot diagnostics.
This demand is driving the increased adoption of Point-of-
Care Testing (POCT), which allows for quick and conve-
nient access to crucial diagnostic information right at the
patient’s fingertips. Technologies like portable devices and
at-home testing kits are gaining popularity, enabling a wide
range of tests, from glucose monitoring to infectious
disease testing, to be conducted outside traditional lab
settings.
Technological Innovations
The diagnostic sector is witnessing significant technological
strides, including the widespread adoption of biosensors
and the growth in the use of companion diagnostics.
Companion diagnostics, which provide additional informa-
tion to help doctors choose the most suitable treatment for
each patient, are becoming integral to personalized
medicine. The advent of advanced technologies such as
Next-Generation Sequencing (NGS) and Multiplex Testing
has revolutionized diagnostic testing, leading to a signifi-
cant enhancement in its efficiency and comprehensiveness.
These technologies enable healthcare providers to conduct
multiple tests simultaneously, reducing the turnaround time
and increasing the accuracy of diagnoses.
Non-Invasive Diagnostic Devices
The development of non-invasive diagnostic devices is
another key trend, aiming to provide a more comfortable
and convenient testing experience for patients. This shift
towards non-invasive diagnostics not only improves patient
comfort but also expands the range of conditions that can be
diagnosed without the need for invasive procedures.
Digital Pathology and Artificial Intelligence (AI)
The fusion of digital pathology and AI is transforming
diagnostic procedures. AI algorithms are now playing a
crucial role in image analysis, facilitating the detection of
patterns and irregularities in diagnostic images. This
integration not only accelerates the diagnostic timeline but
also elevates precision. Presently, radiologists can interpret
scans remotely, surgeons can execute intricate procedures
without direct physical contact with patients, and the
preliminary evaluation of a new medication’s effectiveness
can be conducted solely through computational modelling.
These breakthroughs have been made achievable through
the extensive integration of technology, signifying a
remarkable evolution in the diagnostic domain.
Wearable Biosensors and Real-Time Diagnostics
Real-time diagnostics are bringing in innovative break-
throughs, from wearable devices that monitor glucose levels
to real-time PCR testing. Wearable biosensors, integrated
into various accessories, provide a continuous stream of
physical health data, enabling real-time monitoring and
timely insights for clinical decision-making. This transition
towards real-time diagnostics signifies a significant
advancement in patient care, allowing healthcare providers
to monitor patients’ health continuously and promptly
intervene when necessary. Real-time diagnostics offer the
potential to improve patient outcomes, reduce healthcare
costs, and enhance the overall diagnostic experience for
patients. The integration of technology into diagnostic
procedures is transforming the diagnostic landscape,
making it more efficient, accessible, and patient-centered.
Conclusion
As we look to the future of India’s diagnostic sector, it is
clear that technological innovations and shifting consumer
expectations are driving significant changes. The adoption
of POCT, the development of non-invasive diagnostic
devices, the convergence of digital pathology and AI, and
the rise of wearable biosensors and real-time diagnostics are
just a few of the trends shaping the future of diagnostics in
India. These innovations not only enhance patient care but
also pave the way for a more personalized and efficient
healthcare system. As we move forward, it is imperative for
healthcare providers, policymakers, and patients to embrace
these technologies and innovations, ensuring that diagnos-
tics continues to play a pivotal role in advancing healthcare
outcomes in India.
-Nisha Mehra
March 2024 www.insightscare.in
28
March 2024 www.insightscare.in
30
-
-
2024,
-
2024
Insights Care India
www.insightscare.in
March 2024 31
March 2024 www.insightscare.in
32
From Lab to Life
The Impact of
Diagnostics
on Patient Care
in India
March 2024 www.insightscare.in
34
iagnostics play a crucial role in patient
Dcare, enabling healthcare providers to
deliver targeted therapy and optimize the
use of resources. The availability of sensitive and
specific diagnostic tests, along with technologically
advanced medical devices and equipment, has made
it possible for healthcare providers to deliver high-
quality care. In the Indian healthcare diagnostics are
bridging the gap between the lab and the life of
patients.
This article explores the transformative impact of
diagnostics on patient care, highlighting the
challenges and opportunities that define this critical
area of healthcare in India.
The Role of Diagnostics in Patient Care
Diagnostics, the process of identifying diseases or
conditions through medical testing, is a cornerstone
of modern healthcare. In India, where the healthcare
system is vast and complex, diagnostics serve as a
vital tool for early detection, accurate diagnosis, and
personalized treatment plans.
www.insightscare.in
March 2024 35
However, the journey from lab to life is fraught with
challenges, including infrastructural limitations, high costs,
and the need for patient initiative. India’s healthcare system
faces significant challenges due to the stark contrast in
resource distribution between urban and rural areas. With
over 70% of the healthcare infrastructure concentrated in
urban regions and nearly 70% of the population residing in
rural areas, access to quality healthcare remains a pressing
issue.
Infrastructural Challenges
The significance of diagnostic services in the National
Health Mission (NHM) is well-established, yet accessibility
challenges persist, hindering effective patient care and
management. As a result, patients may receive treatment
based on presumptions, switch healthcare providers, or
abandon care altogether, highlighting the necessity of
rendering diagnostic services accessible, cost-effective, and
acceptable. This approach is crucial for achieving optimal
health outcomes for the population, in line with the
principles of universal health coverage (UHC) and the
continuum of care models.
In many parts of India, the diagnostic process is flawed by
inadequate material and spaces, high costs of testing, and a
lack of coordination between healthcare providers. This is
particularly true for tests that require samples or patients to
be sent to different sites or healthcare providers, a common
practice in India.
Rapid tests, which have the potential to revolutionize point-
of-care (POC) testing by ensuring a continuous cycle of
testing, patient care, and treatment initiation, often rely on
the patient’s initiative to seek care for confirmatory testing
and treatment initiation. This reliance on patient initiative
underscores the challenges of infrastructure and relation-
ships in the Indian diagnostic landscape.
The Patient’s Role
The onus often falls on the patient to ensure the successful
completion of diagnostic cycles across various settings,
including homes, clinics, labs, and hospitals. This is due to
the uncoordinated nature of providers, divergent practices,
and settings lacking in material, money, and human
resources. The patient’s role is crucial, yet it is often
underestimated. The relationship between patients and
health professionals is complex, with the patient’s initiative
being a critical factor in the diagnostic process. Without
adequate counselling and trust, patients may not seek care,
pick up results, or adhere to advice, leading to potential
health risks.
The Need for Improvement
Addressing the challenges in diagnostics requires a
multifaceted approach. Strategies targeting access and
affordability, such as expanding opening hours or follow-up
by phone, could enhance caregiver motivation to use
diagnostics and return for follow-up. Moreover, addressing
the structural issues of existing diagnostic services may
encourage more widespread use of diagnostics, reducing
diagnostic and treatment delays and improving the quality
of care. However, the cost of such tests remains a signifi-
cant barrier, with resources often wasted when patients do
not return for follow-up. Research into the incremental
costs and potential savings from reallocating resources is
necessary to understand if point-of-care tests could be
economically feasible for patients and hospitals.
Conclusion
Diagnostics in India hold immense potential to transform
patient care, but the journey from lab to life is fraught with
challenges. Addressing these challenges requires a con-
certed effort from all stakeholders, including healthcare
providers, policymakers, and patients. By improving
infrastructure, reducing costs, and enhancing patient
education and trust, diagnostics can play a pivotal role in
improving healthcare outcomes in India. As we move
forward, it is imperative to continue exploring innovative
solutions and interventions that can bridge the gap between
diagnostics and patient care, ultimately leading to better
health outcomes for all.
-Nisha Mehra
March 2024 www.insightscare.in
36
Stay in touch.
Subscribe to Insightscare and
get the magazine in print, & digital on
www.insightscare.in
Corporate Office
Insights Success Media Tech LLC
Survey No.133/134, Brand Square,
Office No. 512, Kunjir Chowk, Pimple
Saudagar, Pune, Maharashtra 411027
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Top 5 Diagnostic Companies in India to Watch in 2024.pdf

  • 1. March | Issue 03 | 2024 www.insightscare.in LIMITED Naviga ng the Future Trends and Innova ons in India's Diagnos c Sector From Lab to Life The Impact of Diagnos cs on Pa ent Care in India Suprita Reddy Managing Director and Chief Execu ve Officer Vijaya Diagnos c Centre Limited Top5 in 2024 in India to Watch Diagnostic Companies
  • 2.
  • 3.
  • 5. he Indian diagnostic industry is undergoing Tsignificant growth, driven by the increasing demand for diagnostic services, the adoption of technology, and the rise of chronic, lifestyle, and communicable diseases. The pandemic has further accelerated this growth, with a shift towards preventive healthcare, the spread of healthcare services and insurance, and the integration of technology and digitization. In this exclusive edition, we will highlight the inspiring success stories of some of the industry’s leading companies. These organizations have established a significant presence in the Indian diagnostic market, demonstrating their commitment to quality, innovation, and patient care. They are making significant strides in the Indian diagnostic market, offering a wide range of diagnostic services, including pathology testing and imaging services. Through these profiles, you will learn about their role in contributing to the broader healthcare ecosystem, ensuring early disease diagnosis, and facilitating the identification of root causes to provide the most suitable and effective therapies. Insights Care India is proud to feature these industry leaders in its latest edition titled, ‘Top 5 Diagnostic Companies in India to Watch in 2024.’ We will dive into the strategies these companies employ to navigate the complexities of the market, from mergers and acquisitions to collaborations and the provision of additional services. We aim to provide our readers with profound insights into the industry, showcasing how these companies are not just surviving but thriving in the face of change. Our focus is on understanding how these companies are leading as major contributors to this growth, with their remarkable stories of innovation, resilience, and commit- ment to excellence. We are proud to feature these industry leaders and look forward to continuing to highlight the remarkable work being done in the Indian healthcare sector. Wishing you an insightful read! Strengthening Care with Precision -Nisha Mehra NishaMehra
  • 6. CONTENTS Articles Navigating the Future Trends and Innovations in India’s Diagnostic Sector From Lab to Life The Impact of Diagnostics on Patient Care in India 26 34 Profiles Accurex Biomedical Pioneering Affordable Healthcare Solutions 22 Health Insta-24/7 Pioneering Diagnostic Excellence in the Modern Era 30
  • 7. Vijaya Diagnostic Centre Limited Raising the Bar in Healthcare with Smart Diagnostic Solutions 08 Cover Story
  • 8. Editor-in-Chief Pooja M. Bansal Sameen Arif Visualiser Deepanjali Jena Art & Design Head Sandeep Tikode Circulation Manager Tanaji Fartade Ashwini, Ninad Business Development Managers Swapnali Vasaikar Sr. Vice President Sr. Sales Executive Dhanashree Technical Head Prachi Mokashi Technical Specialist Prashanth Hiremath Digital Marketing Manager Renuka Kulkarni Assistant Digital Marketing Manager Nikita Khadalkar Managing Editor Pooja Shah Assisting Writer Nisha Mehra March, 2024 sales@insightscare.in Corporate Offices: Insights Success Media and Technology Pvt. Ltd. Survey No.133/134, Brand Square, Office No. 512,Kunjir Chowk, Pimple Saudagar, Pune, Maharashtra 411027. Phone - India: 7410033802, 8956487823 Email: info@insightscare.in For Subscription: www.insightscare.in Copyright © 2024 Insights Success Media and Technology Pvt. Ltd., All rights reserved. The content and images used in this magazine should not be reproduced or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior permission from Insights success. Reprint rights remain solely with Insights Success Media and Technology Pvt. Ltd. Insights Care is powered by Insights Success Media and Technology Pvt. Ltd. Follow us on : www.facebook.com/InsightsCare/ https://twitter.com/Insightscare Art & Picture Editor Technical Consultant Rajeshwari Avhad We are also available on :
  • 9. Brief Featuring Person Company Health Insta-24/7 is a diagnostic center that operates round the clock, providing convenient access to healthcare services. Lotus Diagnostic Centre is a trusted name in the diagnostic industry, offering a comprehensive range of diagnostic services. Accurex Biomedical is a leading company specializing in biomedical equipment and diagnostic solutions. QC Healthcare Labs & Diagnostic is a reputable healthcare facility known for its advanced laboratory services and diagnostic capabilities. Health Insta-24/7 Gayathri V CEO Abhinav Thakur Managing Director Anil Agarwal CEO Raj Arpan Tiwari Founder & CEO Accurex Biomedical accurex.net Lotus Diagnostic Centre lotusdiagnostic.com QC Healthcare Labs & Diagnostic qchealthcare.com Vijaya Diagnostic Centre Limited is a renowned diagnostic center offering a wide range of pathology and imaging services. Suprita Reddy Managing Director & Chief Executive Officer Vijaya Diagnostic Centre Limited vijayadiagnostic.com Top5 2024 in India to Watch in Diagnostic Companies
  • 10. LIMITED Raising the Bar in Healthcare with Smart Diagnos c Solu ons ‘‘With a hands-on approach to understanding the intricacies of the industry, Suprita immersed herself in the day-to-day opera ons, priori zing customer needs and devising op mal solu ons to address them effec vely. ‘ ‘ Cover Story
  • 11. Suprita Reddy Managing Director and Chief Execu ve Officer Vijaya Diagnos c Centre Limited
  • 12. Prevention is better than cure, a quote commonly heard in healthcare now resonates with almost every individual. With the escalating burden of chronic diseases, rising healthcare costs, and the increase in lifestyle-related diseases, there is a growing realization among people about the significance of regular medical check-ups and diagnostic tests. The increasing importance of diagnostic services has had a profound impact on healthcare systems worldwide, leading to a significant expansion of the diagnostic industry in India as well. Diagnostic centres now offer a comprehensive array of services ranging from routine tests to imaging and laboratory examinations. Among the reputed names in this domain is Vijaya Diagnostic Centre Limited, an eminent player in India's healthcare sector. With a vast network of over 160 centres, it is India's largest integrated B2C diagnostic chain. The centre offers a comprehensive range of diagnostic services encompassing pathological investigations, advanced radiology, nuclear medicine, and associated healthcare solutions. Its focus on quality has earned it accreditations from the NABH and NABL. Vijaya Diagnostic Centre provides a spectrum of pathology tests ranging from basic biochemistry to sophisticated cytogenetics, alongside an array of radiology services including echocardiograms, X-rays, ultrasounds, CT scans, MRI scans, SPECT, and PET CT scans. Moreover, the company tailor's health and wellness packages to meet individual customer needs. Taking the lead at Vijaya Diagnostic Centre is Suprita Reddy, an experienced professional serving as the Managing Director and Chief Executive Officer. ' Top 5 Diagnos c Companies in India to Watch in 2024 Recognizing the importance of providing superior medical care, Vijaya Diagnos c Centre focuses on delivering accurate diagnos c findings promptly to enable op mal pa ent outcomes. ‘ ‘ ‘‘ '
  • 13.
  • 14.
  • 15. With a strong background in core HR functions within the healthcare industry, Suprita's leadership has been crucial in driving the company's growth and development. Her strategic insight and industry expertise have been instrumental in solidifying Vijaya Diagnostic Centre's position as a leader in India's diagnostic landscape. With a commitment to providing high-quality, cost-effective diagnostic services, Vijaya Diagnostic Centre continues to expand its reach and capabilities. One Center for All Diagnostic Needs Vijaya Diagnostic Centre's journey of excellence traces back to 1981 when it was founded to address the critical need for comprehensive diagnostic services all under one roof. Dr. S. Surendranath Reddy, the Executive Chairman, is the visionary who established the organization's inaugural center. Since its inception, the centre has consistently elevated the standards of quality, with a strong emphasis on customer needs and convenience, positioning itself as a preferred brand and a leading integrated B2C diagnostic chains in India. With a proud network of 160 branches spanning 25 cities, Vijaya operates with a team of 2500 professionals, including top-tier radiologists and pathologists. Renowned for its trust among customers, clinicians, and healthcare organizations, Vijaya Diagnostic Centre is affiliated with over 500 companies in both the public and private sectors. Throughout its four-decade tenure, the organization has been at the forefront of innovation and technology adoption in the diagnostic field while upholding Driven by innova on, a commitment to con nuous improvement, and a customer-centric ethos, Vijaya Diagnos c Centre has successfully made high-quality healthcare services not only accessible but also affordable. ‘ ‘ ‘‘
  • 16. the commitment to superior quality standards. The primary focus remains on addressing customer needs by providing convenience, comfort, and safety at all times. Dr. S. Surendranath Reddy's entrepreneurial spirit and leadership have been foundational to the company's development and achievements, positioning it as a prominent player in the diagnostic industry. Faster and Accurate Results Vijaya Diagnostic Centre offers a comprehensive range of diagnostic tests, ensuring prompt delivery of results to patients. With a focus on efficiency, test results are provided on time. The lab test packages are competitively priced, making quality healthcare accessible. All laboratories within the network hold National Accreditation Board for Testing and Calibration Laboratories (NABL) certification, guaranteeing high standards of quality. Employing a skilled team of over 250+ radiologists, microbiologists, and pathologists, Vijaya Diagnostic Centre maintains expertise in-house. Additionally, the centre extends Corporate Wellness solutions, catering to both onsite and offsite health check-ups. Serving a diverse corporate clientele comprising over 400 multinational corporations in India, these wellness programs are designed to optimize employee health and well-being, ensuring a productive workforce for businesses. Leading the Indian Diagnostic Space Vijaya Diagnostic Centre has always stood out in the diagnostic sector since its inception in the 1980s. Its unique concept of integrated diagnostics under a single roof has made it a leader in the diagnostic landscape. The centre ensures timely and cost-effective delivery of high-quality diagnostic care, whether through home sample collection or within the secure environment of their diagnostic centres. Recognizing the importance of providing superior medical care, Vijaya Diagnostic Centre focuses on delivering accurate diagnostic findings promptly to enable optimal patient outcomes. Vijaya Diagnostic Centre ensures that each diagnostic clinic bearing its name is equipped with state-of-the-art medical instruments and diagnostic devices. The recruitment process at the centre is stringent, with a focus on hiring only the most qualified professionals who possess the necessary skills and experience for their roles. With a commitment to maintaining consistency in safety and quality, Vijaya Diagnostic Centre precisely manages its labs and designs services to meet stringent quality control standards. Upholding ethical norms is paramount across all Vijaya diagnostic centres nationwide, ensuring that its services always prioritize patient well-being and compliance with ethical guidelines. Known for its groundbreaking initiatives in introducing the latest technology and advanced equipment, Vijaya has consistently maintained the highest standards of quality, delivering an unmatched customer experience at all times. Below are some of the noteworthy achievements that highlight its position in the diagnostic domain: Ÿ A state-of-the-art equipment portfolio featuring more than 30 MRI and CT machines, along with 8 PET CT/Gamma machines. Ÿ Pioneering the introduction of Dual Source CT in the Telugu states of Andhra Pradesh and Telangana, revolutionizing cardiac screening by reducing scan time and radiation exposure. Ÿ Introducing advanced techniques like Wide Bore 3T MRI and open MRI to alleviate claustrophobia concerns, particularly in children and the elderly. Ÿ High-end PET-CT machines enhance scanning comfort, and imaging clarity, and reducing scan times. Ÿ Offering holistic wellness packages that extend beyond traditional healthcare to prioritize preventive care and lifestyle-specific diseases. Ÿ Providing doorstep laboratory services and a comprehensive mobile application for convenient test booking and report access. In Pursuit of a Noble Profession Suprita's dedication to healthcare stemmed from a deep respect for the noble profession and a philanthropic desire Evidence of Vijaya's dedica on to industry-leading quality standards is the NABL accredita on granted to all labs within its network. ‘ ‘ ‘‘
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  • 18. to enhance accessibility to quality healthcare services. This vision materialized through the innovative 'all under a roof' diagnostic service delivery model, emphasizing a comprehensive customer experience infused with innovation and excellence. In 2002, Suprita embarked on her journey with Vijaya Diagnostic Centre, drawing inspiration from her father's diligent and dedicated management of the business. With a hands-on approach to understanding the intricacies of the industry, Suprita immersed herself in the day-to-day operations, prioritizing customer needs and devising optimal solutions to address them effectively. Guided by values of customer satisfaction, excellence, innovation, and continuous improvement, Suprita's leadership played a pivotal role in shaping Vijaya's success story, making it a preferred brand in the diagnostic sector. Accessible and Affordable Healthcare Driven by innovation, a commitment to continuous improvement, and a customer-centric ethos, Vijaya Diagnostic Centre has successfully made high-quality healthcare services not only accessible but also affordable. Through strategic expansion initiatives and the introduction of innovative service delivery methods such as home collection and online booking, the centre has effectively removed barriers to accessing quality healthcare. This focus on enhancing customer convenience has been instrumental
  • 19. in realizing the organization's vision of delivering the optimal customer experience consistently. A Trusted Brand Vijaya Diagnostic Centre's commitment to upholding high- quality standards has always been proactive rather than reactive, driven by a stringent quality policy reinforced by regular inspections and audits. Embracing surprise checks with a positive attitude, the organization prioritizes thorough documentation, adherence to standards, and continuous training to ensure success during both planned and impromptu inspections. Across its extensive network of centres, Vijaya Diagnostic Centre maintains a steadfast focus on replicating consistent quality standards. The organization's robust quality assurance policy is complemented by routine audits and inspections. Evidence of Vijaya's dedication to industry- leading quality standards is the NABL accreditation granted to all labs within its network. NABL accreditation signifies adherence to international industry standards in processes and procedures, guaranteeing the delivery of precise and top-notch diagnostic services to customers. This accreditation also serves as a validation of the credibility and reliability of the service provider, further solidifying Vijaya's reputation as a trustworthy brand in the healthcare sector.
  • 20. Cultivating a Positive Work Culture Suprita emphasizes that at Vijaya Diagnostic Centre, the workforce is highly valued and nurtured within a positive and collaborative work environment. Recognizing that each employee's involvement is integral to the organization's success, Vijaya empowers, motivates, and provides the necessary tools for every individual to innovate and contribute towards achieving the shared vision. The company actively advocates for employee engagement and maintains a flat hierarchy, adopting a culture that encourages the unrestricted exchange of ideas and ensures unimpeded access even to the highest levels of leadership within the organization. Tech-Friendly Vijaya Diagnostic Centre has leveraged technological advancements to elevate customer satisfaction and enhance convenience and comfort. The implementation of an AI- powered mobile application enables seamless test booking with just a few simple steps from the comfort of one's home. Additionally, test reports are conveniently archived within the app, allowing for easy access via mobile devices. This digital transformation has enabled Vijaya Diagnostic Centre to streamline the customer journey from start to finish, simplifying the entire process and ensuring a hassle- free experience for customers.
  • 21. A Strategic Plan for Expansion In the future, Suprita envisions Vijaya Diagnostic Centre expanding its network of centres with a steadfast focus on quality and customer satisfaction. The organization aims to reach new milestones and solidify its position in the diagnostic sector through innovation and the integration of advanced technology. As part of a strategic expansion strategy, Vijaya Diagnostic Centre plans to fortify its presence in the home market by extending into Tier 2 and Tier 3 cities within Andhra Pradesh and Telangana. The organization also intends to broaden its footprint in East India by expanding its network in Kolkata, while initiating a dense network establishment in and around Pune in West India. Venturing into adjacent regions, Vijaya Diagnostic Centre has recently established a hub in Gulbarga, Karnataka, with ongoing efforts to systematically expand operations in that area. By acquiring PH Diagnostic Centre in Pune, Vijaya Diagnostic Centre has significantly marked its presence in Western India. The organization's pursuit of acquisition opportunities demonstrates its commitment to broadening its scope and influence. With a forward-looking strategy, the Centre is focused on improving its market standing, driving innovation, and strengthening its industry impact. This proactive approach to acquisitions demonstrates a commitment to adapting to market changes, ensuring continuous growth, and securing long-term success. Vijaya Diagnostic Centre's expansion endeavours will remain continuous and methodical, guided by a structured approach involving market research, identification of customer needs, and recognition of business opportunities. Being recognised as the Top Diagnostic Company is the result of Vijaya Diagnostic Centre's diligence in abiding by the highest standards of quality, being at the forefront of adopting advanced technology, innovation, continuous improvement and its dedication to religiously safeguard its mission – that of offering integrated diagnostic services of the highest order at affordable prices, with the customer as the central focus of the business. All these have enabled Vijaya Diagnostic Centre to grow in stature to the brand that it is today, and it continues to remain true to its calling even in the time to come. Maintaining the Top Spot
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  • 24. Accurex Biomedical Pioneering Affordable Healthcare Solutions We envision a future where diagnostics are accessible and affordable to the majority of our nation. ‘ ‘ ‘ ‘ Abhinav Thakur Managing Director Accurex Biomedical March 2024 www.insightscare.in 22
  • 25. Within the Indian healthcare landscape, where innovation and determination drive progress, emerges a figure of profound inspiration: Abhinav Thakur Managing Director Accurex , the of Biomedical. With a relentless dedication to excellence and a vision for transformative growth, Abhinav has played a key role in leading Accurex Biomedical to unparalleled success in the medical device industry. Abhinav’s journey is not merely a tale of professional success; it is a story of resilience, determination, and commitment to family and legacy. Following the untimely demise of his father in 2004, Abhinav made the courageous decision to return to India from the United States, where he had pursued his undergraduate studies at the University of California, Davis. Faced with the responsibility of upholding his family’s business legacy, Abhinav stepped into the role with determination, driven by the belief that growth is the lifeblood of any business. A firm believer in the power of flexibility and quality, Abhinav Thakur emphasizes the importance of adaptability in navigating the rapidly evolving landscape of medical diagnostics. With a clear vision for the future, he aims to drive Accurex Biomedical towards new heights. Today, Abhinav Thakur’s story serves as a source of inspiration for aspiring individuals seeking to make a meaningful impact in the healthcare sector. As Accurex Biomedical continues to chart new horizons under his guidance, Abhinav’s legacy of innovation and growth will undoubtedly leave a lasting mark on the landscape of Indian healthcare. Bridging Healthcare Divides—Accurex Biomedical’s Mission Abhinav emphasizes the inherent link between ownership and motivation. When individuals participate in decision- making and have a stake in the outcomes, they feel invested in the success of the organization. This approach instills a deep sense of commitment and dedication among team members. When team members contribute to decision-making, they feel a greater sense of ownership. They are more inclined to safeguard what they have helped create. This collaborative approach not only motivates individuals but also strengthens a collective resolve to achieve their goals. Regardless of intellect, a leader’s impact relies on their ability to communicate. It’s through clear and compelling communication that leaders inspire and motivate their teams. ‘ ‘ ‘ ‘ Overcoming Service Expansion Challenges at Accurex Reflecting on a critical challenge, Abhinav recounts a period of rapid growth at Accurex, where the surge in equipment sales outpaced the expansion of their service network. This disjunction posed a significant obstacle, requiring strategic solutions to ensure continued customer satisfaction and business success. “Balancing the pace of equipment sales with service expansion presented a significant challenge,” Abhinav acknowledges. Maintaining parity between installations and service capabilities was essential for sustaining their growth trajectory. Top 5 Diagnos c Companies in India to Watch in 2024 www.insightscare.in March 2024 23
  • 26. To address this challenge, Accurex implemented a multifaceted approach focused on enhancing service proficiency. Investing in training initiatives emerged as a key strategy, with offline training sessions convened to equip service engineers with the necessary skills and knowledge. Abhinav elaborates, “We prioritized comprehensive training for our service engineers, organizing offline sessions and leveraging our factory facilities to provide hands-on instruction. Additionally, we facilitated international training opportunities, sending engineers to Italy to further polish their expertise.” The Importance of Dedicated Resources for Technological Advancement Abhinav underscores the critical need for dedicated resources to head technological advancement within organizations. Recognizing the challenges posed by competing priorities and day-to-day responsibilities, he emphasizes the value of appointing specialists to stay abreast of the latest developments and drive innovation forward. “In the fast-paced landscape of technological evolution, it’s essential to have a dedicated resource focused on exploring and implementing new technologies,” Abhinav affirms. “With everyone immersed in their daily tasks, allocating a dedicated individual ensures that we remain proactive in leveraging emerging technologies to enhance our operations.” Abhinav illustrates this approach with the example of hiring an AI officer to lead initiatives related to artificial intelligence. This dedicated resource is tasked with monitoring AI developments, identifying opportunities for integration within the organization, and leading implementation efforts. Accurex’s Vision for Affordable Diagnostics Abhinav’s vision for the future of Accurex is rooted in a commitment to democratizing diagnostics across India. Recognizing the current reliance on imported products, which often come with heavy price tags, he aims to lead a transformative shift towards localized manufacturing. “We envision a future where diagnostics are accessible and affordable to the majority of our nation,” Abhinav expresses. “With approximately 80% of diagnostics imported, there exists a significant opportunity to localize production, thereby reducing costs and expanding access.” Central to this vision is the pursuit of localized manufacturing, enabling Accurex to offer high-quality diagnostic solutions at more affordable price points. By supporting domestic production, the company seeks to bridge existing accessibility gaps and empower healthcare providers nationwide. Furthermore, Abhinav outlines Accurex’s aspirations for continued growth, aiming to ascend to the ranks of the top three Indian diagnostic companies. This ambition reflects the company’s steadfast dedication to innovation, customer satisfaction, and market leadership. “Our journey doesn’t end at affordability; we aim to be among the foremost diagnostic companies in India,” Abhinav asserts. “Through relentless innovation, strategic partnerships, and relentless commitment, we will continue to elevate healthcare accessibility and redefine industry standards.” Upholding Ethical Leadership Drawing from his own experiences and convictions, Abhinav offers valuable advice to aspiring leaders, stressing the paramount importance of ethical conduct, particularly in the field of healthcare. He underscores the enduring significance of integrity, emphasizing its role in promoting long-term success and sustainability. “Ethical leadership is non-negotiable,” Abhinav asserts. “While shortcuts may offer temporary gains, they lead to consequences that delay progress in the long run. In healthcare, where lives are at stake, ethical decision-making is imperative.” Abhinav emphasizes the imperative of prioritizing quality, accuracy, and precision in product development and service delivery. He underscores the fundamental obligation to uphold standards that prioritize patient well-being above all else. “Quality and precision must always take precedence,” Abhinav affirms. In healthcare, the stakes are too high to compromise on excellence. By prioritizing integrity and adherence to ethical principles, aspiring leaders can safeguard both the reputation of their organization and the well-being of those they serve. March 2024 www.insightscare.in 24
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  • 29. ndia’s diagnostic sector is undergoing rapid transforma- Itions, driven by factors such as increasing incidence of lifestyle-related diseases, greater awareness of health- related concerns, growth of medical tourism, and the need for cost-effective solutions. As we navigate the future of healthcare in India, the diagnostic sector stands at the forefront of innova- tion, poised to enhance patient care through technological advancements and shifting consumer expectations. This article explores the trends and innovations shaping India’s diagnostic landscape, highlighting the transformative potential of diagnostics in the years to come. Key Challenges The Indian medical diagnostics market faces several challenges, including the high price of medical diagnostic equipment, lack of access to sophisticated medical diagnostics in rural areas, and the need for financing options for expensive equipment. To address these challenges, innovative solutions such as the development of low-cost diagnostic equipment, expansion of diagnostic services in rural areas, and the introduction of financing options for expensive equipment are being explored. The Indian government, under the National Health Mission, has started the Free Essential Diagnostics Initiative to ensure availability and access to diagnostic tests at primary health centers (PHCs), community health centers (CHCs), sub- divisional hospitals (SDHs), district hospitals (DHs), and medical colleges (MCs) in states. This initiative aims to strengthen the public health facility to enable delivery of diagnostic services, especially low-cost high volume diagnostic tests. Emerging Opportunities The Indian diagnostic sector offers significant opportunities for www.insightscare.in Navigating the Future March 2024 27 Trends and Innovationsin India’s Diagnostic Sector
  • 30. growth and development, driven by factors such as the increasing demand for early disease diagnosis, the need for cost-effective solutions, and the growing awareness of health-related concerns. Key opportunities include the development of low-cost diagnostic equipment, the expansion of diagnostic services in rural areas, and the introduction of innovative financing options for expensive equipment. The Rise of Point-of-Care Testing (POCT) The COVID-19 pandemic has underscored the critical role of diagnostics in managing infectious diseases, driving a surge in the demand for rapid and on-the-spot diagnostics. This demand is driving the increased adoption of Point-of- Care Testing (POCT), which allows for quick and conve- nient access to crucial diagnostic information right at the patient’s fingertips. Technologies like portable devices and at-home testing kits are gaining popularity, enabling a wide range of tests, from glucose monitoring to infectious disease testing, to be conducted outside traditional lab settings. Technological Innovations The diagnostic sector is witnessing significant technological strides, including the widespread adoption of biosensors and the growth in the use of companion diagnostics. Companion diagnostics, which provide additional informa- tion to help doctors choose the most suitable treatment for each patient, are becoming integral to personalized medicine. The advent of advanced technologies such as Next-Generation Sequencing (NGS) and Multiplex Testing has revolutionized diagnostic testing, leading to a signifi- cant enhancement in its efficiency and comprehensiveness. These technologies enable healthcare providers to conduct multiple tests simultaneously, reducing the turnaround time and increasing the accuracy of diagnoses. Non-Invasive Diagnostic Devices The development of non-invasive diagnostic devices is another key trend, aiming to provide a more comfortable and convenient testing experience for patients. This shift towards non-invasive diagnostics not only improves patient comfort but also expands the range of conditions that can be diagnosed without the need for invasive procedures. Digital Pathology and Artificial Intelligence (AI) The fusion of digital pathology and AI is transforming diagnostic procedures. AI algorithms are now playing a crucial role in image analysis, facilitating the detection of patterns and irregularities in diagnostic images. This integration not only accelerates the diagnostic timeline but also elevates precision. Presently, radiologists can interpret scans remotely, surgeons can execute intricate procedures without direct physical contact with patients, and the preliminary evaluation of a new medication’s effectiveness can be conducted solely through computational modelling. These breakthroughs have been made achievable through the extensive integration of technology, signifying a remarkable evolution in the diagnostic domain. Wearable Biosensors and Real-Time Diagnostics Real-time diagnostics are bringing in innovative break- throughs, from wearable devices that monitor glucose levels to real-time PCR testing. Wearable biosensors, integrated into various accessories, provide a continuous stream of physical health data, enabling real-time monitoring and timely insights for clinical decision-making. This transition towards real-time diagnostics signifies a significant advancement in patient care, allowing healthcare providers to monitor patients’ health continuously and promptly intervene when necessary. Real-time diagnostics offer the potential to improve patient outcomes, reduce healthcare costs, and enhance the overall diagnostic experience for patients. The integration of technology into diagnostic procedures is transforming the diagnostic landscape, making it more efficient, accessible, and patient-centered. Conclusion As we look to the future of India’s diagnostic sector, it is clear that technological innovations and shifting consumer expectations are driving significant changes. The adoption of POCT, the development of non-invasive diagnostic devices, the convergence of digital pathology and AI, and the rise of wearable biosensors and real-time diagnostics are just a few of the trends shaping the future of diagnostics in India. These innovations not only enhance patient care but also pave the way for a more personalized and efficient healthcare system. As we move forward, it is imperative for healthcare providers, policymakers, and patients to embrace these technologies and innovations, ensuring that diagnos- tics continues to play a pivotal role in advancing healthcare outcomes in India. -Nisha Mehra March 2024 www.insightscare.in 28
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  • 36. From Lab to Life The Impact of Diagnostics on Patient Care in India March 2024 www.insightscare.in 34
  • 37. iagnostics play a crucial role in patient Dcare, enabling healthcare providers to deliver targeted therapy and optimize the use of resources. The availability of sensitive and specific diagnostic tests, along with technologically advanced medical devices and equipment, has made it possible for healthcare providers to deliver high- quality care. In the Indian healthcare diagnostics are bridging the gap between the lab and the life of patients. This article explores the transformative impact of diagnostics on patient care, highlighting the challenges and opportunities that define this critical area of healthcare in India. The Role of Diagnostics in Patient Care Diagnostics, the process of identifying diseases or conditions through medical testing, is a cornerstone of modern healthcare. In India, where the healthcare system is vast and complex, diagnostics serve as a vital tool for early detection, accurate diagnosis, and personalized treatment plans. www.insightscare.in March 2024 35
  • 38. However, the journey from lab to life is fraught with challenges, including infrastructural limitations, high costs, and the need for patient initiative. India’s healthcare system faces significant challenges due to the stark contrast in resource distribution between urban and rural areas. With over 70% of the healthcare infrastructure concentrated in urban regions and nearly 70% of the population residing in rural areas, access to quality healthcare remains a pressing issue. Infrastructural Challenges The significance of diagnostic services in the National Health Mission (NHM) is well-established, yet accessibility challenges persist, hindering effective patient care and management. As a result, patients may receive treatment based on presumptions, switch healthcare providers, or abandon care altogether, highlighting the necessity of rendering diagnostic services accessible, cost-effective, and acceptable. This approach is crucial for achieving optimal health outcomes for the population, in line with the principles of universal health coverage (UHC) and the continuum of care models. In many parts of India, the diagnostic process is flawed by inadequate material and spaces, high costs of testing, and a lack of coordination between healthcare providers. This is particularly true for tests that require samples or patients to be sent to different sites or healthcare providers, a common practice in India. Rapid tests, which have the potential to revolutionize point- of-care (POC) testing by ensuring a continuous cycle of testing, patient care, and treatment initiation, often rely on the patient’s initiative to seek care for confirmatory testing and treatment initiation. This reliance on patient initiative underscores the challenges of infrastructure and relation- ships in the Indian diagnostic landscape. The Patient’s Role The onus often falls on the patient to ensure the successful completion of diagnostic cycles across various settings, including homes, clinics, labs, and hospitals. This is due to the uncoordinated nature of providers, divergent practices, and settings lacking in material, money, and human resources. The patient’s role is crucial, yet it is often underestimated. The relationship between patients and health professionals is complex, with the patient’s initiative being a critical factor in the diagnostic process. Without adequate counselling and trust, patients may not seek care, pick up results, or adhere to advice, leading to potential health risks. The Need for Improvement Addressing the challenges in diagnostics requires a multifaceted approach. Strategies targeting access and affordability, such as expanding opening hours or follow-up by phone, could enhance caregiver motivation to use diagnostics and return for follow-up. Moreover, addressing the structural issues of existing diagnostic services may encourage more widespread use of diagnostics, reducing diagnostic and treatment delays and improving the quality of care. However, the cost of such tests remains a signifi- cant barrier, with resources often wasted when patients do not return for follow-up. Research into the incremental costs and potential savings from reallocating resources is necessary to understand if point-of-care tests could be economically feasible for patients and hospitals. Conclusion Diagnostics in India hold immense potential to transform patient care, but the journey from lab to life is fraught with challenges. Addressing these challenges requires a con- certed effort from all stakeholders, including healthcare providers, policymakers, and patients. By improving infrastructure, reducing costs, and enhancing patient education and trust, diagnostics can play a pivotal role in improving healthcare outcomes in India. As we move forward, it is imperative to continue exploring innovative solutions and interventions that can bridge the gap between diagnostics and patient care, ultimately leading to better health outcomes for all. -Nisha Mehra March 2024 www.insightscare.in 36
  • 39. Stay in touch. Subscribe to Insightscare and get the magazine in print, & digital on www.insightscare.in Corporate Office Insights Success Media Tech LLC Survey No.133/134, Brand Square, Office No. 512, Kunjir Chowk, Pimple Saudagar, Pune, Maharashtra 411027 Phone - 7410033802, 8956487823 Email: info@insightscare.in For Subscription : www.insightscare.in Cheque should be drawn in favor of : INSIGHTS SUCCESS MEDIA TECH LLC www.insightscare.in