Consulting in Healthcare
The healthcare industry in India is one of the largest sectors in the country in terms of revenue and employment. In 2017, the healthcare industry was the fourth-largest employer. According to an article by The Mint, “The sector is expected to generate 40 million jobs in India by 2020.”
This particular industry is booming in India at a fast pace due to its strengthening coverage, services, and an increase in expenditure by public and private players. The healthcare market is expected to increase three-fold to Rs 8.6 trillion (US$ 133.44 billion) by 2022. (According to the Indian Brand Equity Foundation).
The healthcare industry comprises hospitals, pharmaceutical companies, medical devices, clinical trials, telemedicine, medical tourism, health insurance, and medical equipment. Healthcare is a complex industry with a set of rules, regulations, and laws to be followed, with a bottom line leading to quality care given and maintaining a satisfactory level of patient satisfaction.
The boom in the healthcare industry will lead to a demand for healthcare consultants. Healthcare consultants are trained professionals who through their expertise in this particular field advise and guide healthcare organizations to make better business decisions that promote growth, devise strategies that benefit their customers, and finally lead to patient satisfaction.
Healthcare consulting is a very niche job profile where the professional needs to hold a good qualifications, years of experience in the healthcare industry, and a certain amount of expertise in the healthcare industry. Every decision made here requires a careful understanding of the problems that exist within the healthcare industry and working on finding the right solutions to those problems. Here, unlike a mistake in an industry like advertising, if a person receives an incorrect treatment that leads to a major health complication. This mistake can ruin the reputation of the healthcare organization in a second. That is why healthcare consultants are needed by the industry. They are supposed to be trained management analysts employed by the healthcare industry to analyze the efficiency, profits, and structure of the healthcare organizations, and provide suitable suggestions on methods of improvement, with a major focus on building a positive reputation for the said organizations by guiding them towards patient healing and satisfaction.
The areas that need help with healthcare consulting is are as follows:
1) Hospitals, physicians
2) Healthcare systems
3) Government agencies
5) Medical technology
6) Pharma companies
Entering the Healthcare industry and succeeding requires the consultant to be:
1) Well versed in healthcare laws, policies, and legislation
2) Business and analytic skills
3) Good decision making and critical thinking skills
4) Strong communication skills to deal with a range of client types
5) A good know-how of the internal workings of the industry
6) Have strong public speaking skills
HPG Consulting will be replicating the decades-long success story they have witnessed in the food service industry, in the healthcare industry. The team of consultants at Team HPG are industry professionals having in-depth knowledge and adequate training in the said field. The consultants at HPG focus on being more focused on the core business, understanding their clients better, and leading to the better customer (in this case: patient) satisfaction.
HPG Consulting believes in being one step ahead always by deriving solutions to client problems using hard market analysis, competitive assessments, internal system analysis, and rigorous financial modeling.
HPG Consulting’s values of providing integrity, work ethic, respect, empathy, and social responsibility act as a compass for the company’s behavior towards their business partners, stakeholders, etc. in the healthcare industry.
The aim of HPG consulting while working strongly in the healthcare industry will be to derive results-oriented strategies that deliver client-specific solutions, that are cost-effective, innovative, and focused on problem-solving.