Sponsorships picking up steam as healthcare competition increases!!
The relentlessly evolving health care industry continues to create new sponsorship superfluity for nearly every type of property.
Over the years health engagement has shifted the focus from business-to-business (B2B) sponsorships toward more businessto- consumer (B2C) sponsorships. Today we’re seeing health insurance companies and hospitals doubledown on sponsorships to engage consumers and differentiate their products and services. Basically with healthcare, the big buzzword is “consumerism”. Companies ranging from hospitals, health insurances to the newest segment like health technology are jumping into the sponsorship waters. People around the world are more empowered to make healthcare decisions for themselves and they care more about the companies behind the products they’re consuming.Heathcare industry is expanding their sponsorships to reach new audiences. In emerging economies like India healthcare services and products are often paid out-of-pocket by the consumer. Consumers are taking a more active role in their care and that definitely applies to health insurance as well.
With millions of consumers now required to purchase their products, insurers are increasingly using sponsorship to build preference and, like nearly every other segment of HEALTHCARE SPONSORSHIPS COMPETITION 14 May 2016 the health care category, encourage healthy lifestyles. An assurance of trust and credibility is what consumers are definitely seeking today, which means consumers consider attributes beyond clinical benefit in the buying decision, such as the reputation of the company or recommendations of friends and family. In an interview with Financial Express Paul Magill, Senior Vice President, Chief Marketing Officer, Abbot says “ You will see associations with events which illustrate and demonstrate the core purpose and character of Abbott, for example, our sponsorship of the recently concluded TEDx Gateway in Mumbai. The TED movement is all about making great ideas accessible and sparking conversation with a belief in the power of ideas to change attitudes and lives. For more than 125 years, Abbott has been doing exactly that – inspiring breakthroughs in health that would lead to people living longer and better lives”.
Similar to health insurance, hospitals are increasingly using sponsorship to build awareness and drive preference in the wake of the Affordable Care Act and escalating health care costs. Increased competition has resulted in new partnerships with nearly every type of property as hospitals look to reach new audiences—and in many cases a broader audience—with their health message. Today the hospitals aim to establish and proliferate the idea of a healthy lifestyle, accrete a point of differentiation through sponsorships. They seek to exhibit and furnish community involvement. While the companies offer different products and services, they all share one common trait: the use of data and technology to improve health. Seamlessly integrating Labs, Hospitals, Pharmacies, Blood Banks, Radiology, Medical Devices (IoT), Insurance Companies, and Accounting resulting in increased revenues and operational efficiency, cloud computing is bringing to life the concept of ‘Internet of Things’ or a connected universe for the entire healthcare sector.
Lack of advice should never deter one’s medical choices. Thus, Practo was launched to make the choice easier by comparisons. By YUGANSHA MALHOTRA
Incidents related to health, always have the capacity to stumble us and make us look for various different possibilities to one problem, at times the presence or lack of availabilities leave us in a dilemma. One such incident was faced by Shashank, when he required second opinion on the operation that his father was going to undertake. Lack of any means to consult various other doctors and to get a review upon the situation, he was baffled by the disinterest of the IT sector in this field. With this motive, Shashank and Abhinav Lal, set up Practo Technologies Pvt. Ltd. The duo founded the company in Bengaluru, in 2008, when they were still college students in their final year of engineering at National Institute of Technology, Karnataka. Practo aims to be the one stop destination for patients to find their doctors, research about them and book online appointments. It starts with helping them find the best doctors and culminates into a single intelligent healthcare account for the entire family that securely stores all their healthcare data so they can make better healthcare decisions.
Practo’s USP lies in the products that assist doctors in managing their practice and medical records on one hand, and also helps the patients to locate doctors closest to them. Practo has two parts to it, the dualism aids the patient to find a doctor and enable them to connect with 50,000 doctors across India and also provide the doctors with software that manages the patient experience better at the centre. Practo does this with the help of three breakthrough SaaS(softwareas- a-service) products. The venture’s flagship product Practo Ray is a practice management one which helps doctors to register new patients, book and update appointment calendars and even maintain electronic medical records which is priced at Rs 1000 per month. The service has vowed 40,000 doctors across eight cities and helped manage three million patient records till date. Practo Hello, India’s first cloud based call management system for doctors is also a part of the package.
With 1,25,000 calls made so far, this software allows patients to book appointments 24/7, which are automatically updated at the clinic. The third product is Practo Groups which is a dedicated online platform for health professionals and communities to come together on an online forum.
Practo’s razor sharp focus on product quality and support has enabled it to maintain a steady lead and being one of a kind to present the idea, enabled them to raise $4 million in July 2012. It has over 1,00,000 doctors registered from over 310 Indian towns and cities. Complying themselves with extensive coverage from the metropolitan cities like Bangalore, Mumbai, Delhi, Chennai, they have managed to gain monopoly over the involvement of IT in the health sector. It has over 1.3 million page views and 30,000 appointments booked every month, with traffic growing at 24 per cent per month. The company has seven offices, in Mumbai, Delhi, Bengaluru, Chennai, Hyderabad, Pune and Singapore. They entered Singapore market around 18 months ago and are now, the largest online clinic management software provider in terms of market share. They thrive with aim of entering the markets of Philippines, Malaysia and the Middle East of hitting USD 10 million revenue mark by 2016.
Wanting to hold their monopoly in this sector, and wading off the new competitors, Practo has been looking for ways which would make them the forerunners in the designated area. They have recently collaborated with taxihailing platform Uber, so as to enhance convenience. Across India, Indonesia, Philippines and Singapore, those who book an appointment on Practo’s mobile application, will be able to view the closest Uber available along with the appointment reminder alert. The partnership comes with an India-specific inaugural offer, where any existing or new user booking an appointment on Practo till November 30, will get a free ride to and fro from the doctor’s clinic. Besides, new users who book their first appointment on the Practo application can avail two free rides, up to Rs 200 a ride, with Uber till the year-end. Also, keeping their philanthropic streak intact and in action, Practo is putting together a list of doctors and hospitals to aid people during the Chennai floods.
Hospitals in India have traditionally been very reluctant to share the contents of the medical records with the patients themselves, Practo Ray has found success with private doctors and smaller clinics as they are much more willing to be open and find the service useful. Practo has won over the confidence of people by providing easy access to them, and making the tedious task of fixing up an appointment a tad lot easier.
ANALYZING IVF SURROGACY
Surrogacy flung the door wide open for the commercialization of one woman’s womb, gratifying another woman the umbilical cheer- by Pratiksha Kapoor
As you may anticipate, In Vitro Fertilization and Uterine Embryo Transfer is a physically and emotionally demanding. Its also a very expensive procedure. Apart from these complexities, the use of artificial insemination and the recent development of vitro fertilization have eliminated the necessity for sexual intercourse in order to establish pregnancy.
With a perceptibly restrictive global market for international adoption and in the view of a mass global expansion of surrogacy programs, it is almost certain in nations such as India, which have access to contemporary technology and skilled individuals who can provide surrogacy programs at lower cost, to serve the demand in wealthier nations the market tends to flourish
With infertility rates on the rise and a growing acceptance of same-sex couples, thousands of people annually are opting for surrogacy as a way of having genetic children through a process of in vitro fertilisation (IVF) and embryo transfer.
Surrogacy rubric circumscribes traditional and gestational surrogacy at large. In traditional surrogacy, the surrogate mother’s egg is used, making her the genetic mother. In gestational surrogacy, the egg is provided by the intended mother or a donor. The egg is fertilised through in vitro fertilisation (IVF) and then placed inside the surrogate mother.
AN INTROSPECTIVE LOOK AT FEW COUNTRIES AND THEIR FERTILITY MARKETS
In 1994, Chennai, the first gestational surrogacy in India took place, though it relatively gained pace since 2001 and expanded the spectrum of medical tourism. India is rapidly setting a lucrative market spot for fertility tourists due to a number of crowning factors making headway for a booming commercial surrogacy market. India is one amongst the meager lot of countries with commercialized surrogacy including Georgia, Russia, Thailand and Ukraine and a few U.S. states. Indian government’s prearranged and concerted efforts have by and large played a vital role to promote medical tourism, with a growth at the rate of 30% per year for surrogacy tourism.
Exerting influence on market and enticing the consumers, India provides for the low-cost technology, skilled doctors, and a plentiful supply of surrogates, attracting nationals from Britain, the United States, Australia and Japan, to name a few. The couples in search of fertility treatment travel not only from Western countries, but also from neighboring countries of Sri Lanka, Pakistan, Nepal, Bangladesh, Thailand, and Singapore. The number of websites advertising and marketing heavily geared foreigners. Virtually every state in India irrespective of rural or urban areas have IVF and other fertility clinics.
Thriving the healthcare sector and boosting the economy, the surrogacy business till 2012 was more than $400 million a year, with over 3,000 fertility clinics across India enunciating medical development with affluence and productivity.
Though the market has boomed rapidly since years, considering evolving legislative paradigms India might expose a massively restricted surrogacy market, and will shut the door to singles and gay couples.
GERMANY, SPAIN, FRANCE, NETHERLANDS
Surrogacy is banned completely, meaning infertile couples are unable to turn to surrogacy as an option. But France does not put a ban on couples bringing in children from surrogacy contracts abroad.
Commercial surrogacy is criminal under the Human Reproductive Technology Ordinance 2000. The law is phrased in a manner that no one can pay a surrogate, no surrogate can receive money, and no one can arrange a commercial surrogacy (the same applies to the supply of gametes), no matter within or outside Hong Kong. Normally only the gametes of the intended parents can be used.
The law bans foreign couples from seeking surrogacy services and stipulates that surrogate mothers must be Thai and over 25.The important part is if the couple seeking surrogacy services is Thai or the couple is mixed-race, they can find a Thai woman to be their surrogate providing she is over 25.
Despite the government crackdown, the surrogacy services and agencies are flourishing in China and doing profitable business. According to Chinese newspaper, Global Times, the surrogacy market in Beijing is still flourishing. Although most agencies had stopped surrogacy services due to government crackdown but many are still open and rendering services to people.
EMPOWERING WOMEN, CHANGING LIVES
Outsourcing your needs to a third party miles away dimes a dozen and yet you opportune a fortune. The industry sees it as a propitious situation: where childless couples see their pipe dream becoming an undisputed reality with a genetic child and the strapped surrogate mother gets a plentiful sum to no more succumb her needs.
COMMODIFYING AND EXPLOITING
Over a period of time, social activists have raised their concerns terming surrogacy as a business that not only reinforces the gender stereotype of commodifying a woman, but also leads to the exploitation of surrogates who often have no knowledge of their rights and the complexities involved in the process. In several countries where surrogacy is illegal or banned by the government, the market is going totally unregulated resulting in violation of human rights either of the surrogate mother or the couple who are paying for the health facilities. There have also been reports of women being trafficked into the industry. Also there is no fixed amount paid to surrogates and many surrogates do not get the full amount promised, while others get nothing if they miscarry.
Is banning of fertility tourism a solution to the problem? Will it be possible to ban and regulate all informal measures or do we need more accountable laws to regulate the same.
Increasing economic liberalisation and privatisation have stimulated health care as much as they have infl uenced many other social and administrative systems, perhaps even more so. The article unfoldsseveral aspects of how crunching technology has proved advantageous for a sharpened and more desirable diagnosis and treatment.By Pratiksha Kapoor
With advancement in technology, new developments are constantly infiltrating our lives. Whether it’s the job you do, the way you shop, how you communicate with friends, technology is redefining our lives.
A deeper look in the healthcare sector and the impact of technological advancement we get to explore many facets which have revolutionized the health care industry. The advent of fresh technological equipments, the private players in the market as well as ending of the old healthcare rituals with upgrading platform with new and more facilities for women and child health care are few traditions marking a cut in healthcare paradigm.
MEDICAL TECHNOLOGY Breakthroughs in information gathering, research, treatments, and communications have given medical providers new tools to work with and fresh ways to practice medicine. Information technology has made significant contributions to our world, namely in the medical industry. With the increased use of electronic medical records (EMR), tele health services, and mobile technologies like tablets and smart phones, physicians and patients are both seeing the benefits that these new medical technologies are bringing.
DELVING INTO VARIOUS FACETS OF TECHNOLOGICAL ADVANCEMENTS ONE CANNOT OVERLOOK THE FOLLOWING TECHNO ELEVATIONS –
1. Mobile health is freeing healthcare devices of wires and cords and enabling physicians and patients alike to check on healthcare processes on-the-go. A research report estimates the global mHealth market will reach $20.7 billion by 2019, manifesting its prevalence.
Smartphones and tablets allow healthcare providers to more freely access and send information. Physicians and service providers can use mHealth tools for orders, documentation and simply to reach more information when with patients.
2. Telemedicine/telehealth is where patients can receive a full assessment through a video chat with a physician. Claims are automatically generated, but the fees are reduced to factor out traditional office costs. Setting the actual healthcare cost aside. It also reduces time out of office costs for employees and employers.
3. Portal technology. Patients are increasingly becoming active players in their own healthcare, and portal technology is one tool helping them to do so. Portal technology allows physicians and patients to access medical records and interact online.
With more and more hospitals and practices using medical technology like mobile devices on the job, physicians can now have access to any type of information they need – from drug information, research and studies, patient history or records, and more – within mere seconds. And, with the ability to effortlessly carry these mobile devices around with them throughout the day, they are never far from the information they need.
Medical technology has evolved from introducing doctors to new equipment to use inside private practices and hospitals to connecting patients and doctors thousands of miles away through telecommunications. It is not uncommon in today’s world for patients to hold video conferences with physicians to save time and money normally spent on traveling to another geographic location or send health information.
STRATEGIC MANAGEMENT OF TECHNOLOGY IN PUBLIC AND PRIVATE HEALTH SECTOR
Prevention of disease is both a personal and a state obligation. In fact, the state has enormous stakes in the maintenance of healthy and relatively disease-free society. It is committed to providing a good and clean environment, water supply, family and social welfare services, vaccination and health advice. States have tried various strategies to improve access, quality and cost-efficiency in the health care delivery systems through techno means. Good management of health care equipments and increased investment on health care solutions has to an extent enhanced health outcomes. Although strategic importance of technology in health care has been documented widely in scientific literature; it is only now equipment planning, procurement and management have received the attention they deserve in the transformation process of health care services.
Privatisation on the other hand, has established a notion of steep hike in health expenditures, attributable to the increased costs of medical consultations, drugs and devices, medical tests and hospitalization because of the modern technology healthcare perpheral.
1. The hospital experiences approximately 400 to 500 patient visits a day with in-house capacity of 150 beds
2. Well maintained hospital with spectacular facilities
3. Specialised expertise in varied departments