An Evening with Dr. Rana Mehta, VP Healthcare, Technopak
Thursday, July 29, 2010
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Dr. Rana Mehta, VP Healthcare, Technopak, was at the Noida campus of IIM Lucknow yesterday (29th July 2010) as a speaker in their Leadership Talk Series.Dr. Mehta dwelled on the future of healthcare and emphasized the role of genomics towards the same, saying that a one-size-fits-all drug could make way for drugs customized according to an individual’s genetic makeup, as the science of genomics enters its ‘plateau of productivity’.
Costs of healthcare in the US, he also observed, have risen from 5% of the national GDP in 1960 to about 15% in 2005, but only 65% of the increase has been due to the technology; the rest has been absorbed by the insurance-premiums. Consequently, people from the US (and other developed countries) have started to prefer to immigrate into Asian countries for their major healthcare needs, making for a huge driver of growth for the industry in these parts of the world.
He also talked about the growth of healthcare sector in india. He discussed the various segments of the industry and how these segments are likely to shape up in the coming decade. He also talked about the PPP model for healthcare industry in India.
The students used the platform of the Leadership Talk Series to become aware of the challenges facing the healthcare sector, and the opportunities inherent in it. Students had a wonderful discussion on low cost healthcare in India with Dr. Rana.
The students used the platform of the Leadership Talk Series to become aware of the challenges facing the healthcare sector, and the opportunities inherent in it. Students had a wonderful discussion on low cost healthcare in India with Dr. Rana.
Enlightening session! Sharing my take-aways....
Convergence of consumerism, technology and healthcare are now turning it from static to dynamic industry.
Many service sector practices are now being adopted by the hospitals, e.g. Point-of-Sales concept has been extended to have a more accurate and timely representation of patient's status. This results in better and more effective care.
However, few service sector standards still do not reflect in health care: e.g. checkout from a hotel room takes 10 min as opposed to an average of about 2 hours from a hospital
On the other hand the need for the same is reducing as more and more treatments are now moving from inpatient to outpatient. Earlier, where a cataract operation/discharge cycle would be 2 days long, the same is now accomplished in 2 hours!
Today 46% of the patients travel more than 100kms for treatment.
Just before GM went into bankruptcy( prior to emerging as a much leaner organization), it spent $5.6bn on 1.1m people, only 160,000 of which were current employees.
Healthcare would be a $240bn opportunity by the year 2020 that too in a favourable regulatory environment.
Parul