The Global Hues | Vol. 2 | Issue 6 | June 2022
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INKING STORIES THAT MATTER TODAY AND EVEN MORE TOMORROW
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2 | The Global Hues | Vol. 2
| Issue 6 | June 2022
INKING STORIES THAT MATTER TODAY AND EVEN MORE TOMORROW
CONNECT WITH US:
www.theglobalhues.com PR & Communications - pr@theglobalhues.com, info@theglobalhues.com 8700280047, 9871258991 The Global Hues | Vol. 2 | Issue 6 | June 2022
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Contents
June 2022
Vol 2 | Issue 6 8 Crossword
Let's Think
10
COVER STORY
18 Spotlight
Qwazent Talent Solutions
Reinventing Talent With Technology, Experience And Excellence
Report
24
26
Hospaccx
A Highly Acclaimed Firm Delivering Turnkey Healthcare Consulting Solutions
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Healthcare Consulting Industry Redefining The Healthcare Experience
30
Medicuality
On A Mission To Create A World-Class Healthcare Ecosystem
34
40
46
Intellect Quotes On
Travel
Intelligence
The Majestic Land
41
Profound Healthcare Services
10 Most Promising
Serving The Global Healthcare Industry With In-Depth And Reliable Insights
Healthcare
Listing
Consultants In India
36
42
How To Help Your Team Reduce The Workplace
Business
Anxiety
Indonesia
Employees Retention Strategies For Your Business Growth
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Editor’s Note
Vol 2 | Issue 6 | June 2022 Publisher: The Global Hues Founder & CEO: Himanshu Tyagi
he Healthcare industry is preparing for the next generation of healthcare services which would focus on creating a consumer-centric, prevention-focused system for patients. Market dynamics, rapid changes in customer behaviour and regulatory demands are making it difficult for the healthcare industry to manage everything. That’s where the role of healthcare consultants comes into play.
T
Hospitals, insurance companies, medical device manufacturers, and pharmaceutical developers turn to operators in the Healthcare Consultants Industry to improve their operating efficiencies. From setting up new hospital infrastructure to hiring healthcare professionals, and introducing healthcare devices, healthcare consulting companies are contributing their fair share to the healthcare industry.
Editor-in-chief: Tannishtha Mukherjee Copy Editor: Priyanka Tyagi Content Manager: Himanshi Jain Editorial Team: Neha Maurya, Kusum Vats, Aditi Gautam, Shreya Malakar
Design Head: Himanshu Koli Digital Team: Amit Sharma ------------------------------------------------Head of Sales & Marketing: Chetan Kaushik Sales Team: Annu Vimal, Ritu Chauhan, Anubha Singh Chauhan, Anushka Gupta, Sanchit Rathi, Shubham Goel Data & Research: Naval Kishore, Sanjay Sharma
Furthermore, the rapid adoption of digitalization in healthcare worldwide is driving the exemplary growth of the Healthcare Industry. Growth in the healthcare industry eventually leads to the demand for healthcare consulting services. That is why this sector is set to continue its growth well into the next several years.
Marketing & PR: Krishiv Kumar PR@theglobalhues.com
This magazine features the highly potent stories of companies belonging to the Healthcare Consulting Sector. It also sheds light on their impeccable contribution to the entire healthcare sector.
HR: Simran Khanna
Advertisement: Mayank Gulati Subscription: Maniraj Reddy
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The Global Hues does not accept responsibility for returning unsolicited materials & photographs. All unsolicited material should be accomplished by self-addressed envelope & sufficient postage. All disputes are subject to exclusive jurisdiction of competent courts and forums in Delhi/New Delhi only. © 2022 Publisher, Reproduction in whole or a part throughout the world, including image text or anything without written permission from the publisher, is prohibited. All rights reserved.
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Let’s Think 1. Who became the first company to cross a billion transactions on UPI?
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Answers At The End Of The Magazine
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2. Who is responsible for controlling the repo rate of the Indian economy? 3. Headquarters of Axis Bank 4. C in FMCG (with respect to companies) stands for 5. Sachin Bansal and Binny Bansal are associated with
10. In which city is the ISRO headquarters located?
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10 MOST PROMISING
8C Healthcare CONSULTANTS IN INDIA
ON A MISSION TO FOSTER MEDICAL DEVICE CLINICAL RESEARCH AND INNOVATIONS
E
very year, a considerable number of innovative medical technologies are developed to meet the increasing demand for delivering high-quality healthcare services across the board. In general, a new medical device development and commercialization process can take anywhere from 3 to 8 years depending on the type of product being developed and investigated. Focused on the advancement of medical technology from ‘Concept to Clinical Use’, a company called 8C Healthcare emerged in 2010 to establish itself as a trusted strategic partner in the MedTech community.
8C Healthcare is an exclusive Medical Device Research Organization based in Hyderabad, India that provides Comprehensive Clinical Research & Development, Regulatory and Quality Management services for global medical device manufacturers by assuring compliance with medical device standards and regulations in India and Worldwide.
8C Healthcare is founded by a group of self-motivated and like-minded '8 Capable' Biomedical Engineers (Mr. Naresh Kumar Pagidimarry, Mr. Sravan Kumar Manchikanti, Vikram Singh Bhatnagar, Mr. Anil Kumar Pegallapati, Mr. Vivek Palepu, Mr. Rizwan Ahmed, Mr. Koti Reddy Vanga and Mr. Anant Palepu) driven by the purpose to contribute to human welfare, by fostering medical device innovations that help in the prevention, diagnosis, or treatment of human ailments.
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COVER STORY
We are a passionate team of “8” medical device professionals driven by the purpose to contribute to human welfare, by fostering medical device innovations that help in the prevention, diagnosis, or treatment of human ailments.
NARESH KUMAR PAGIDIMARRY Co-Founder & MD, 8C Healthcare
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10 MOST PROMISING CONSULTANTS IN INDIA
COMPANY’S MOTTO
at Cardiac Concepts, Inc. (Now Zoll
organisation, Naresh develops and
“Your Success is our Future”
Medical), Terumo Heart and St. Jude
executes the company’s business strat-
Medical USA.
egies, establishes the company’s poli-
“Health is Wealth”
cies and legal guidelines, oversees the
“Together, we make it happen”
He is deeply passionate about MedTech
company’s financial performance, and
“HOW FAR ARE WE STRIVING TO SAVE
innovations and translating new medical
builds long-term and trusting relation-
ONE LIFE?”
device concepts into market-ready
ships with employees, partners, and
products which could help people to live
stakeholders.
MEET THE LEADER
a healthy life. His specialities are Medical
Naresh Kumar Pagidimarry is a Biomed-
Device Product Development, Clinical &
ical Engineer turned entrepreneur with
Therapy Development, and Global Regu-
over 18 years of experience working in
latory Strategy.
MEDICAL DEVICE CLINICAL RESEARCH & DEVELOPMENT SERVICES When it comes to high-quality inte-
India and USA on Medical Device Product Life Cycle management including Iden-
Naresh is a leader of consummate
grated clinical research management, 8C
tifying unmet clinical needs, Ideation
personality who fosters transformational
Healthcare is the first name that comes
/ Proof of Concept through design,
learning and personal enrichment in the
to the minds of almost every MedTech
development, testing, design verification
minds of every employee working in the
company. 8C Healthcare, over the years,
& validation, manufacturing, pre-clinical
organisation. Naresh’s principles, values,
has established itself as a foremost
& clinical research management, global
and ideology make 8C Healthcare a
company offering top-notch clinical
regulatory and quality processes. Prior
distinctively placed organisation.
research management services to the clients who intend to conduct clinical
to starting 8C Healthcare, he worked in regulatory and clinical research positions
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As the Managing Director of the
studies for innovative medical devices
COVER STORY globally in compliance with ISO14155,
all the necessary information like
Global Regulatory and Quality Manage-
Good Clinical Practices (GCP, an interna-
study title & number, investigator’s
ment services as well. Some of them are:
tional ethical & scientific quality standard
name, study subject, patient ID,
demographic data, concomitant
1.
treatment, and side effects, investi-
For a medical device manufacturer,
gator’s signature, and other requi-
securing the regulatory approvals is a
site details.
key milestone in order to launch the
Clinical Trial Auditing: 8C Healthcare is proficient in conducting Clinical Trial Auditing which is meant to ensure that the data collected and submitted is valid and to verify compliance with regulations includ-
“8C Healthcare partners with medical device start-ups and clinical investigators in developing the clinical strategies for the evaluation of safety and efficacy of the investigational device.”
ing the principles of Good Clinical Practices (GCP).
Clinical Trial Monitoring: Under this service, 8C Healthcare oversees the progress of a clinical trial and
VIKRAM SINGH
ensures that the trial is conducted,
Co-Founder & Head – Clinical Services
recorded, and reported, in compli-
for the monitoring, performance,
ance with the protocol, GCP and
design, auditing, recording, analysis, and
other regulatory requirements.
reporting of clinical trials).
Regulatory Affairs
products in global markets. 8C Healthcare is a pioneer in delivering comprehensive global regulatory services to clients in India, Europe, the United States, and Asia Pacific countries. Right from country-specific regulatory assessment, clinical trial notifications, and product registrations, to fervently coordinating with the Regulatory Authorities for regulatory approvals, 8C Healthcare positions itself as a leading medical device regulatory partner. The main services provided under regulatory affairs management are:
Investigator-Initiated Studies:
Regulatory Strategy
8C Healthcare in partnership with
Legal Authorized Representation
Product Registration and Approval
Global Regulatory Submissions (US,
Under clinical research management, the
clinical investigators from different
company provides an array of services
specialities support and manages
specific to medical devices. Some of the
the clinical studies to specific
notable ones include:
research questions from day-to-day
Canada, EU MDR)
clinical care
Clinical Trial Strategy: 8CHealth-
2.
care helps its clients devise clinical
Other services provided under clinical
(QMS)
strategies. It includes establishing a
research management are Identifica-
A medical device quality management
clinical development process with
tion of Clinical Investigators (KOLs) and
system is defined as a structured system
the most likelihood of substantiating
Sites, Investigators Meeting Preparation,
that documents the procedures and
the product and identifying ideal
Clinical Trial Document Development,
processes implemented throughout the
clinical conditions.
Clinical Trial Data Management, Clinical
lifecycle of a medical device. 8C Health-
Clinical Trial Protocol Design and
Trial Report, Clinical Trial Agreement and
care establishes a quality management
Development: Any client investiga-
Budget Negotiation, Clinical Trial Budget
system for medical device manufac-
tion starts with the development of
Development, Literature Search and
turers in specific to product portfolio.
a clinical protocol. The protocol is
Review, Preparation and submission of
basically a document that describes
Journal Articles, List and Maintain Trial
The main services provided under
the objective, methodology, statisti-
Details on ClinicalTrials.gov and Clinical
quality management are:
cal considerations, design, and other
Trial Registry of India (CTRI), and many
requisite information. 8C Health-
more to list.
development that are in compliance with regulatory requirements. Case Record Form (CRF): 8C Healthcare makes sure that a CRF contains
Establish Quality Systems in compliance with ISO13485, 21 CFR Part 820
care helps with protocol design and
Quality Management System
REGULATORY & QUALITY MANAGEMENT SERVICES
QSR and MDSAP
Apart from delivering the best clinical research management services, 8C Healthcare provides other high-quality
Post-Market Surveillance & Vigilance Reporting
Quality Audits and Training Programs
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10 MOST PROMISING CONSULTANTS IN INDIA
guiding principles to create synchronicity within employees towards a common objective. Here are the values that the company always adheres to:
Teamwork
To open the door to rapid innovation, foster the culture of thinking outside the box, and promote creative problem solving, 8C Healthcare believes in working together to aim for more and achieve even more. The company is equipped with highly professional “8C Healthcare has established a worldwide affiliate network of Medical Device and In-vitro Diagnostic device experts across the globe to get the product developed, clinically investigated, secure regulatory approvals and successfully launch in the market,”
people with industry-rich experience who are passionate about delivering the best solutions to clients.
Co-Founder & Head – Regulatory Services
THE COMPANY’S VALUES Not revenue, not profits, it is the company’s values and principles that make an organisation morally strong. Values show a clear picture of a company’s atmosphere, and how an employee is treated. 8C Healthcare follows a set of
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Compassion 8C Healthcare operates with compassion to promote dedication, employee engagement, and loyalty, which eventually benefits the organisation. For 8C Healthcare, creating a compassionate workplace has always been a priority.
As the company has been following
Professional Excellence To develop the flexibility to deal with challenging situations, uncertainty and change, 8C Healthcare promotes a culture of excellence. Employees push through the barriers and emerge victorious when they are in a culture of
the path of integrity, every employee is
excellence.
Integrity
8C Healthcare is built on the values of honesty, respect, loyalty, and responsi-
SRAVAN KUMAR MANCHIKANTI, RAC
organisation. Building trust enhances teamwork & collaboration, improves organisational alignment, efficiency, engagement & productivity, enhances decision making, and most importantly decreases stress and burnout at 8C Healthcare.
bility to promote better decision-making.
reliable and trustworthy. The company encourages open communication in the organisation so that no issue goes unno-
CLIENT RELATIONSHIPS: A TOP PRIORITY
ticed or unaddressed. It also establishes
With positive and enduring client
a strong work ethic in the workplace.
relationships, companies make giant strides and achieve infinite success.
Trust
For the holistic growth of the organi-
8C Healthcare considers Trust a
sation, 8C Healthcare strongly believes
fundamental building block of the
that the future of the company lies in
COVER STORY the true success of the clients that it works with i.e., “Clients Success is our Future”. Naresh builds and maintains strong client relationships. 8C Healthcare always strives to exceed the client’s expectations. It provides realistic frameworks to avoid any kind of miscommunication with the clients.
“We leave no stone unturned to deliver the finest services to our clients and believe in retaining clients by building trust in their minds. It gives me immense pride to share that our clients reengage with us for other future projects as well. We always endeavour to perform the tasks successfully keeping in mind the needs and requirements of the clients.”
ANIL KUMAR PEGALLAPATI Co-Founder & Head - Quality Services
THE VISION AHEAD 8C Healthcare, since its establishment in 2010, has been working tirelessly to provide innovative, strategic Regulatory, Clinical Research, Quality and Authorized Representative services for Global MedTech companies that intend to secure regulatory approvals and/or conduct clinical studies in India and worldwide. It is indeed a trusted
business partner in the Medical Device Regulatory Affairs and Clinical Research Management domain for global MedTech companies.
companies while delivering on-time results. The company’s vision is to propel innovative, high quality and affordable medical devices into the global markets.
8C Healthcare envisions to carve a niche in the MedTech Industry with the most-competent solutions for its partner
In Naresh’s words, “8C Healthcare, since its establishment, has been on a growth trajectory and I am certain that this will continue assuredly.”
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10 MOST PROMISING CONSULTANTS IN INDIA
“Successful founders know that building the Company is only possible with an efficient team that follows the company culture and carries out the processes of the company diligently, eventually leading to success. At Qwazent, our success mantra is to be custodians of happy professional lives of our candidates as well as our clients – we endeavour to fulfil dreams and go beyond just job placements.”
DR SHRUTI NATH
Founding Director & Mentor, Qwazent Talent Solutions
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SPOTLIGHT
QWAZENT TALENT SOLUTIONS
REINVENTING TALENT WITH TECHNOLOGY, EXPERIENCE AND EXCELLENCE
T
he healthcare industry in India has always faced the challenge of a demand-supply gap in terms of talent and there has been no dedicated healthcare-focused firm to beat this challenge. In 2016, Qwazent Talent Solutions came into being with the sole purpose of bridging the ‘missing link’ between healthcare industry professionals and healthcare providers in India’s major cities.
Qwazent Talent Solutions is India’s highly acclaimed, specialist executive search firm that caters exclusively to the vast Healthcare industry. The company focuses on bringing the best talent to the healthcare industry and over the years, it has developed itself into a trusted advisor to healthcare enterprises not only in India but internationally as well. Dr Shruti, the Founding Director & Mentor of Qwazent Talent Solutions is an entrepreneur with the belief that growth should never stop. She first became an investor in Qwazent to support the team that intended to build this business. Later, she engaged more deeply given the size of the opportunity. Her passion is supported by the dynamic team at Qwazent, led by the Partner, Deepshikha Singh.
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10 MOST PROMISING CONSULTANTS IN INDIA
(From L to R): UPASONA DAS - Consultant, DEEPSHIKHA SINGH - Partner, DR. SHRUTI NATH - Founding Director & Mentor, ANUJ SARIN - Head-Client Relationships
UNIQUE SERVICE PORTFOLIO FOR A DIVERSE CLIENTELE Over the years, Qwazent has evolved drastically from an early-stage, high-impact start-up, to an established tech-enabled executive search and consulting organization. Today, Qwazent is serving a broad spectrum of clients globally through a combination of objective assessment strategies, a robust research methodology, and advanced utilization of technological platforms. In the past, Qwazent has successfully placed CXOs and other mid to seniorlevel personnel including medical professionals for both established and start-up organisations not only in India but also in Finland, Sweden, Congo, Nigeria, Kenya, Bangladesh, Sri Lanka, UAE, Bahrain, Indonesia and other Gulf, South East Asian as well as European countries. At the onset, Qwazent was largely catering to Healthcare delivery and Diagnostics but is now serving clients across all the domains of the healthcare industry which includes serving the talent needs of the Healthcare Delivery Systems, Pharmaceuticals,
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Life Sciences, Medical Technology, Medical Devices, Diagnostics, Health Tech, PE/VC Firms and other Allied Healthcare service companies. Given Qwazent’s diverse clientele, they efficiently provide expansive talent related services from Leadership hiring to Medical hiring as well as Functional hiring and Junior & Mid-management hiring to the entire healthcare industry. “Qwazent acts as a trusted partner to every client and adds value to their business through its impeccable services. With a combined experience of over 50 years, Qwazent understands the nuances of the industry as well as its leaders and gives advice to the clients accordingly,” mentions Anuj Sarin, Head- Client Relationships, Qwazent Talent Solutions.
QWAZENT HYRE: 3-WAY HIGHLY SPECIALISED RECRUITMENT SYSTEM The biggest and the most notable change that the healthcare consulting sphere has witnessed is the increasing adoption of technology. Digitalization in
business has proven to be almost essential for any organisation nowadays. Qwazent has also adapted well to this change and come up with its own technology platform called Qwazent Hyre which brings clients, hiring experts and candidates associated with the healthcare spectrum on to one platform. Qwazent Hyre provides additional value & perks to its clients by bringing in transparency, continuous flow of information, multi-layered verification and better communication flow into the entire search process. The inbuilt video interview and review system of Hyre allows an effective interview scheduling followed by a footage review mechanism that is rich in client-recruiter communication functionality. “Not only does Hyre have more than 100,000 curated profiles of Healthcare professionals, but clients can upload their requirements on the platform as well. The clients get access to video-recorded interactions, and AI curated profile match, which in turn gets them the most suitable
SPOTLIGHT candidates in a quick turnaround time,” explains Deepshikha Singh, Partner, Qwazent Talent Solutions. Moreover, digital-matching, coupled with human filtration, ensures that both the employers and employees have long term associations with each other. Through Qwazent Hyre’s Knowledge Management Process, assessment reports as well as due diligence reports are well recorded and are easily accessible to the client. Qwazent Hyre is the future of hyper-effective tech-enabled healthcare recruiting.
THE DIFFERENTIATING FACTORS The healthcare industry is an everevolving marketplace. Instead of running the company on a rigid model, Dr. Nath believes in initiating and implementing change mechanisms to stay ahead of its competitors. Here’s how Qwazent differentiates itself from other similar-sized players in the market:
Qwazent Hyre, a fully automated healthcare recruitment technology platform, facilitates ease of hiring across the healthcare spectrum by connecting potential talent, hiring experts and organisations in one place. Qwazent’s technology backed process efficiencies are a combination of world-class executive search practices with the agility of the fast-paced recruitment technology. Diverse and professional team of expert recruiters who not only have a thorough understanding of the industry but also have par excellence research capabilities. The company’s vast industry mapping and proven methodologies help Qwazent not only deliver on time but also provide high-quality services.
“Qwazent’s tech platform coupled with Hybrid mode of working has allowed the company to create an ecosystem of expert recruiters who are based in various geographies and have the resources and capability to reach out to the global
candidate pool. This way, Qwazent meets the demands of the industry in an effective and efficient manner,” quotes Dr. Nath.
FOSTERING THE CULTURE OF TEAMWORK Dr. Nath believes that teamwork is the bedrock on which all successful businesses are built as it makes progress easier and enables the group to overcome challenges that would have stymied an individual. Therefore, the company fosters values such as empathy and trust. Qwazent’s hybrid work model necessitates a company culture built on such values as with virtual teams, building coordination and trust is inherently a challenge. However, Qwazent’s tight-knit community ensures that every employee has ownership of their ideas, feels welcomed in the workplace, and is developed professionally for today’s competitive business environment. Given Qwazent’s feedback-driven workplace culture, the team is both recognized as well as incentivized in order to improve and excel every day. “We as a team balance between performance, personal needs as well as requirements. Qwazent ensures to support each team member in their professional journey,” says Upasona Das, Consultant, Qwazent Talent Solutions.
founder and is a self-centred approach - the success of an organisation, in the long run, is dependent upon building an independent culture and an identification of the Company itself. Building a successful organization is possible by an efficient team that follows the company culture and carries out the processes of the company diligently, eventually leading to success. Their success mantra is to be custodians of the happy professional lives of the candidates as well as clients. Qwazent endeavours to fulfil dreams and go beyond just job placements. With this same success methodology, since its establishment, Qwazent has been recognized globally as one of the Top 50 Healthcare Companies at the 2018 Smart Healthcare Conference and was featured as one of the 10 Most Promising Healthcare Consultants in 2021 by CIO Review India. As an entrepreneur, Dr Nath strongly believes that growth should never stop. She says that while healthcare has come a long way, especially post-pandemic, it is integral to keep reinventing ourselves to meet the demands of this dynamic industry. To that end, since their inception six years ago, Qwazent has constantly kept evolving to better serve the ever-changing talent needs of the Healthcare industry.
UNIQUE MINDSET FOR SUCCESS Dr Nath believes that building a personal brand is never the right strategy for a The Global Hues | Vol. 2 | Issue 6 | June 2022
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10 MOST PROMISING CONSULTANTS IN INDIA
HOSPACCX A Highly Acclaimed Firm Delivering Turnkey Healthcare Consulting Solutions
“Hospaccx lives with a distinct vision of delivering the best Healthcare business solutions to the Clients at an affordable premium.”
P
andemic ushered the elusive change in the way the Healthcare Consulting industry is being perceived today. The Healthcare Consulting facet is now being utilised more than ever and is expected to grow exponentially due to increased outreach. Hospaccx is a distinguished name on which the healthcare experts rely with great satisfaction. Founded in 2006, Hospaccx is among the foremost healthcare consulting firms that serve clients with its par excellence and expertise. The company has a presence in 12 countries and has successfully completed 500+ national & international healthcare assignments so far.
Hospaccx is a one-stop solution that delivers a wide array of end-to-end consultancy services ranging from Architecture Planning and designing to Commissioning Assistance of the Healthcare setups, from Marketing to running the Operations and Management of the Hospitals, from Financial Management to the entire Project Management in the healthcare domain.
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DR. TARUN KATIYAR
Founder & MD, Hospaccx
Hospaccx keeps Quality and Integrity as its foremost benchmark. It has also been awarded multiple ISO certifications assuring the Quality of services that it renders.
exemplary and diligent Entrepreneur in the Healthcare Consulting arena. Inspired by TATA Group, Dr. Tarun envisaged providing budgeted healthcare business solutions to Healthcare setups in the country.
THE MAN BEHIND THE IDEA Meet Dr Tarun Katiyar, a consummate leader who grew up in the middleclass family of Indore and is now an
It was in 2006 when Dr. Tarun paved his way from Indore to the city of dreams - Mumbai to turn his dreams into a
reality. With extensive experience, a keen eye for detail, punctiliousness and deep understanding of the healthcare industry, Dr. Tarun laid the foundation of Hospaccx. Today, Hospaccx is one of the leading and acclaimed Global Healthcare Consultancy firms providing best-in-class services. Hospaccx provides turnkey Healthcare Consultancy services that provide end-to-end business solutions to the Healthcare setups under one roof. The company has successfully completed more than 500+ National & International Assignments and is yet to reach its zenith.
THE JOURNEY OF HOSPACCX With the vision to develop the Global Healthcare Ecosystem that would deliver outstanding tailor-made healthcare solutions through the right processes and protocols, Dr. Tarun established Hospaccx in 2006. Building years of trust and gaining momentum, Hospaccx hasn't looked back since. By 2014, Hospaccx was deeply rooted in the market and emerged as the industry leader marking its presence in pan India, Africa, UAE, and SAARC countries. In the same year, Hospaccx, after strengthening itself in the ultra-competitive marketplace, was commissioned as Hospaccx Healthcare Business Consulting Pvt Ltd carving its own niche. Hospaccx has already registered Hospaccx in the US in 2019 and is on its way to have a touch base at Dubai and Africa.
SERVICES OFFERED BY HOSPACCX The constant commitment to delivering patient-centric and effective healthcare solutions at the right time positions Hospaccx among the top industry leaders. The company offers Turnkey Healthcare Consultancy Services which are not readily available in the marketplace. The services by Hospaccx include:
Feasibility Study
Architecture Planning and Designing services
Construction Management services
Medical Equipment Planning
Commissioning Assistance of Hospital
Operations Management and Marketing
THE CLIENTELE To build its clientele, Hospaccx, through its team of top-notch senior professionals, eyes at the unstructured market like Hospitals in tier 2 and tier 3 Cities, unlike other Consulting firms that target major Corporate Hospitals. Relationships are the cornerstones of business success. Therefore, Hospaccx is always mindful of its commitments which helps in building the trust of the clients. Right from its genesis, Hospaccx is cognizant of the need of the clients and has always been proactive and transparent in maintaining client relationships. Hospaccx delivers what it promises, creating room for clients to reconnect in the future. The company also focuses on Client engagement behaviour such as positive interactions post-delivery of Projects, Social media outreach etc that not only helps in retention but enhances the advocacy of the services.
TACKLING THE PAIN POINTS OF THE HEALTHCARE INDUSTRY The current challenges posed by Covid 19 pandemic urge the need for a robust and resilient healthcare system. Technological advancements and big data pool are no longer in a state of infancy and demands the healthcare industry to struggle with the changes. As Patient Medical Records, Clinical Data, and Administrative begin to rise, there arises a need for better tools for their storage and management. While advanced Data management systems have been introduced in a few Hospitals, many Healthcare facilities still await this implementation. Hospaccx enables this transition into digitalization easier for the healthcare setups. The company provides robust and customizable IT data infrastructure to the healthcare industry to fulfil the ever-changing and unique needs. The other major challenge faced by the healthcare industry is the cost crisis.
Limited funding and budget constraints in the hospitals lead to fewer preventive and routine checkups. Hospaccx tackles this issue quite effectively and manages the Operations and Management of the Hospitals. The highly skilled and professional expert team with industry-rich experience focuses on cost optimization that provides smart financial solutions. Hospaccx has already completed 40+ Operations and Management Assignments for various Healthcare Institutions throughout the Country and is currently managing 9 – 10 Assignments. Hospaccx also strives to deliver excellence to healthcare setups and help them streamline the Patient experience and increase the efficiency of the processes. The company covers an extra mile to help the healthcare industry with better services through the implementation of requisite technologies.
MISSION AND VISION STATEMENTS Mission: Since its inception, the company is working with a mission to build excellent Healthcare Infrastructure in India & GCC that is affordable, sustainable and future-ready. Vision: Hospaccx envisions developing its Portfolio as Market Leader in Architecture Planning & designing, and positioning it globally at a level where it reflects Quality and Affordability as its metrics.
FEATHERS TO THE CAP Since its inception, Hospaccx has been the recipient of many prestigious awards for its quality, reliability, and outstanding performance. Some of the coveted awards received by the company are:
Young Healthcare Entrepreneur Award - 2014
India’s Best Healthcare Consultancy - 2015
Best Healthcare Consultancy in Maharashtra - 2016
Goa Healthcare Awards - 2016
Top Healthcare Leaders - 2018
Top 10 Healthcare influencers - 2019
20 Most promising Healthcare Consultants - 2019
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REPORT
Healthcare Consulting Industry REDEFINING THE HEALTHCARE EXPERIENCE
T
he rapid increase in demands of the healthcare industry generates the need for a helping hand that provides all the specialised supplementary services. The healthcare consulting industry is fulfilling this need efficiently. It provides supplementary services including financial management, human resources, information technology and many other services to the healthcare sector. The growth of the digitalization in healthcare industry drives the growth of the healthcare consulting industry. This industry helps the healthcare sector by improving quality, cost control, and inventory management which results in increased profitability.
MARKET SIZE AND SEGMENTATION The healthcare consulting industry is expected to boom in the upcoming years. Growing digitalization in healthcare, adoption of data analytics, IoT & cloud deployment and favourable government policies are driving the market growth of Healthcare consulting services. The global healthcare consulting industry was estimated at $23.9 billion in 2021 and is expected to grow with a CAGR (Compound Annual Growth Rate) of 11.5%. With this rate, the healthcare consulting industry is projected to reach $41.2 billion by 2026.
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Over the last five years, the industry has enjoyed extraordinary growth as companies started using the services of healthcare consultants more frequently. As the corporate profit of a company has increased, it has more funding available to use the supplementary services. With this increased demand, healthcare consulting service providers are able to charge higher rates. The high margin and profitability encourage more companies to enter the healthcare consulting market. As stated above, the healthcare consulting industry provides supplementary services to the healthcare industry. The services provided by the consulting industry are varied. The industry is segmented on basis of:
SERVICE TYPE i)
Technology Consulting
ii)
Strategy Consulting
iii) Market Consulting iv) HR and Operations Consulting and others
END-USER i)
Hospitals
ii)
Research Institutes
iii) Pharmaceuticals Companies iv) Health Insurance Providers and others
GEOGRAPHIES i)
North America
ii)
Europe
iii) Asia Pacific iv) Rest of the world
DRIVING FACTORS The healthcare consulting industry is one of the fastest-growing sectors seen in recent years that is increasing with a CAGR of 11.5%. Here are the key driving factors that boost the growth of the Healthcare consulting industry:
TECHNOLOGY ADVANCEMENTS The robust technological advancements play a significant role in driving the growth of the healthcare consulting industry. Agile methodologies, IT security & support, cloud-based services and infrastructure make the process go smoothly. The Healthcare industry is using the services provided by healthcare consultants to make full use of the technology. Leveraging technological advancements such as machine learning, artificial intelligence, and the Internet of Things, the consulting industry is growing to a great extent. TOTAL HEALTH EXPENDITURE The increase in health expenditure is directly related to the growth of the healthcare consulting industry. More budget for health expenditure means it is easier for the healthcare providers to afford the consulting services. In addition to this, healthcare providers also get the benefits of advisory services on how to reduce expenses. Consequently, the rise in expenditure increases the demand for healthcare consulting services. CHANGING PATIENT NEEDS Over the years, patient needs have changed significantly. The changing trends in the healthcare industry arise the need for healthcare consulting to understand the upcoming trends, and market opportunities to provide the best healthcare services. The ageing population, life expectancy, and prevalence of chronic diseases result in the alteration of healthcare services. It drives the need for healthcare consulting services to enhance patient expectations and experience. GOVERNMENT CONSUMPTION AND INVESTMENT The government supports the healthcare consulting industry with favourable policies, rules and regulations. The government agencies are using the expert services of healthcare consultants to better the health system and ensure its smooth functioning. The revenue of the healthcare consulting industry is closely related to government consumption and investment which has increased in 2020 resulting in the growth of the industry.
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REPORT CHALLENGES FACED BY THE INDUSTRY Every industry has to face particular challenges, the healthcare consulting industry is still at its earlier stage and the need of expansion is required in order to function with full efficiency. Here is a list of some of the challenges faced by the healthcare consulting industry: EXPENSIVE SERVICES The expensive services by the industry are restricting its growth. Some hospitals and medical institutions are unable to pay the high fees because it exceeds the budget. Consequently, either the hospitals have to find an alternative way or the consulting providers have to reduce their fees. In both ways, the industry has to suffer losses. Apart from this, the industry has to face a higher rate of taxes that adds up to the operating costs of the service providers.
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CYBER SECURITY THREAT Since the healthcare industry uses a lot of information and data from medical institutions, it makes the industry more prone to cyber danger. Cyber crimes create a situation of precariousness for the industry. Dealing with a lot of data includes the risk of loss of information. This loss may cost a huge amount of money. Hence, the data and cybersecurity issues make the healthcare industry lagging. MULTI-SOURCING APPROACH Instead of using one size fits all approach, the Healthcare industry uses a multi-sourcing approach to cater to larger numbers of companies. This breaks the industry into smaller pieces to carry out the tasks. But it does not ensure that these companies hold expertise in that particular area. The government, healthcare providers and payers are pushing the multiple consulting firms to collaborate that put a negative impact on the industry.
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10 MOST PROMISING CONSULTANTS IN INDIA
MEDICUALITY On A Mission To Create A World-Class Healthcare Ecosystem
“Medicuality believes in empowering the hospitals to implement quality services so that they take up the future inspections on their own & not depend on us further.”
DR. SAVITHA NARASIMHAIAH Founder & CEO, Medicuality
D
eveloping countries often struggle to provide high-quality and equitable care to all. However, India has made giant strides in improving its healthcare system and providing better healthcare facilities to millions of people. As the nation strives to implement improved healthcare innovations, coupled with capacity building to ensure the enactment of new strategies; there arises the need of highly distinguished healthcare consulting firms to help healthcare companies deliver highquality care to their patients efficiently and cost-effectively. With a mission to handhold hospitals with state-of-the-art training techniques, a highly renowned healthcare consultancy firm, Medicuality Healthcare Services was founded in 2021. Medicuality, an acronym for Medical Quality, is a leading quality management and accreditation solutions consultancy that helps hospitals to deliver quality
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services and apply for accreditations and certifications. A company that started with hospitals with 10-20 beds, soon expanded to hospitals with 100 - 300 beds. Currently, Medicuality is working relentlessly with medical colleges with over 1000 beds. They have expanded their quality development into the academics of medical &
dental colleges by handholding for NAAC Accreditations. Many projects are in the pipeline for accreditations to Infertility centres.
THE SUPERWOMAN BEHIND MEDICUALITY Meet Dr. Savitha Narasimhaiah, the Founder and CEO of Medicuality Healthcare Services. With an uncanny ability
to empower each employee working in Medicuality, Dr. Savitha heads the entire operation of the organisation. Dr Savitha is a medical doctor with MBBS & MD in Microbiology with about 22 years of rich experience in the healthcare industry. Her tale from working in government & private hospitals to victoriously heading Medicuality is an inspiration for all the women aiming to stand tall in the business community. Agile and resilient Dr. Savitha is invaluable when it comes to formulating and communicating new strategic decisions. She possesses the requisite expertise in handholding hospitals to get accredited to JCI/NABH/NABL accreditations. Her indispensable and incomparable leadership is paramount to providing an agreed-upon goal for the success of Medicuality. “We train hospital staff to deliver quality services, where ultimately the final beneficiaries are patients and it is indeed worth the investment,” mentions Dr Savitha.
THE SERVICE PORTFOLIO With the motto of strengthening safety skills, Medicuality provides an array of services: Trainings: Comprehensive Onsite Training Programmes on Hospital infection control, Antibiotic policy & Antibiotic stewardship awareness Sessions, and Training Sessions on Quality enhancement & facility management in hospitals, Building, fire, water & electrical safety, Utility, Equipment, Laboratory & Radiation safety in Hospitals Accreditation Service: NABH 5th Edition/ Full NABH standards Entry-level NABH Accreditations to Eye Care orgranisation, Infertility & Dialysis centres NABH- Emergency departments, Blood banks Business Development: Hospital Planning & Design, Operations & Management, and
Medical Colleges
Dental Colleges
Nursing Colleges
College of pharmacy
College of Hospital Administration
EXCELLING IN HOSPITALS ACCREDITATION “I started my journey as a NABH assessor & found that most hospitals were not being guided appropriately by the local consultants. The managements end up paying lakhs of rupees for getting nothing,” says Dr Savitha. There are about 10 - 12 chapters of quality implementation to attain accreditation. The chapters on Patient Care, Medication Management & Hospital Infection Control are always neglected by non-medical consultants. Unfortunately, the focus is put on illegitimate activities like faking data & HR files/ medical records/quality indicators. Hospitals are usually kept in dark. Besides, despite awareness, many hospitals believe that hospital accreditations are all about biomedical waste & blood spill management. Medicuality opposes the belief and follows a totally different approach. "We bring super-specialist doctors to confidence, especially on hospital infection control measures, medication management at various levels of care & reinforce to follow the statutory norms for safe patient care", reiterates Dr Savitha. Furthermore, to ensure top-notch accreditation services, the company has formed 9 Phases: Gap Analysis, Project Planning, Review, Modification, & Development, Training Employees, Implementation, Clinical Audits, Mock Survey, Fine Tuning & Tracer Practice, and Preparation for the Final Surveys.
MEDICUALITY’S DIFFERENTIATING FACTORS In an ultra-competitive marketplace, Medicuality stands out from the crowd, which as per the market framework, is quite essential. Here are a few differentiating factors:
Financial Management
Medicuality comprises a team of professional doctors and gentle & caring nurses proficient in their respective fields.
The company works on the quality enhancement in all areas like
ACADEMICS R&D SERVICES Medicuality also provides NAAC valueadded course training to faculty and students of:
Emergency Rooms, Intensive Care Units, Labor Rooms, Operation Theatres, Laboratories etc.
Medicuality empowers the hospitals to implement quality services so that they take up the future inspections on their own and not depend on the company further.
Medicuality effortlessly transforms a workplace into a world-class facility by implementing all accreditation standards. It is done via conducting regular trainings, internet audits, and committee meetings.
The industry is still learning to track medication errors, hospital-acquired infections, & sentinel events and doesn’t have reliable captured data to review it. Medicuality helps hospitals understand the standards for easy implementation & maintenance of the same.
THE CLIENTELE Truth be told, clients are the first priority who makes any business successful. Medicuality, since its inception, has always tried to secure quality customers. The company’s clientele includes famous medical colleges like Katuri Medical College, Guntur GSL Medical College, Rajahmundry, NRI Medical College, Vijayawada, and many more in Andhra Pradesh. Medicuality has already completed NABH projects with some of the leading single & Multispeciality hospitals in Karnataka and a few in pipeline for accreditation to eyecare organisations & Infertility centres. “We have been with many hospitals on their 2nd & 3rd round of inspections just to empower them & appreciate their consistent efforts in maintaining quality,” mentions Dr Savitha with pride.
THE VISION AHEAD Medicuality envisions becoming the prime national healthcare training and accreditation consultancy functioning at par with global benchmarks. Medicuality lives with a mission to handhold hospitals with state-of-the-art training techniques to meet the national/ international standards of accreditation, focusing on patient quality care & safety through the process of self-assessment. In Dr Savitha’s words, “We are always out of our comfort zone, travel extensively & conduct hand-on trainings for a reasonable price with a passion to bring in standardised & protocol based patient care & safety.” The Global Hues | Vol. 2 | Issue 6 | June 2022
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10 MOST PROMISING CONSULTANTS IN INDIA
PROFOUND HEALTHCARE SERVICES
Serving The Global Healthcare Industry With In-Depth And Reliable Insights “In Profound Healthcare, a single core team of experts works closely with each client for each assignment– ensuring equal focus on all assignments and generation of best quality insights in the healthcare domain.”
W
ith the ripening revolution in the healthcare industry, the need for healthcare consulting services has emerged since they bring in the expertise and guide the healthcare organizations to make strategic business decisions. A highly acclaimed boutique consulting firm, Profound Healthcare Services stands tall among the healthcare industry leaders to make the global healthcare system grow and benefit its customers and patients. Incorporated in 2012, Profound Healthcare provides the best-in-class services to the various stakeholders in the Pharmaceutical, MedTech and global healthcare consulting firms. Successfully completing its 10 years in the industry, ‘Profound’ has become the synonym
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GIRISH VIJAYKUMAR KORDE
CEO, Profound Healthcare Services
for world-class healthcare consultancy services. It delivers highly reliable services related to the healthcare market as well as provides seamless process support.
straightforward and demands a multi-pronged approach, to build / refine the market access strategy.
THE INCEPTION TALE It was 2012 when Profound was established with the core objective of delivering high-quality & reliable projects as well as providing process support. The company initially had client relations with pharma companies operating in India. Within 2 years of its inception, the coverage expanded across geographies. It soon started covering Asia-Pacific markets and larger consulting companies looking for an outsourcing partner. By 2015, it started expanding further by delivering for hospitals as well as medical device companies. Around 2017, Profound started working with international consulting firms based out of Middle East, EU and the US. Today, Profound Healthcare Services, with utter dedication and commitment, has secured its irreplaceable place in the healthcare consulting industry.
MEET THE FOUNDER The man behind the idea of Profound Healthcare is Girish V. Korde, the Founder and CEO of the company. With a soulful intent to serve the Global Healthcare Industry with reliable and in-depth insights, Girish laid the foundation of Profound Healthcare. Prior to establishing the firm, he was associated with a global healthcare consulting firm – IQVIA (erstwhile IMS Consulting) in Mumbai. Girish leads a team of highly experienced individuals having years of experience in the industry. He proudly asserts, “Efficient teamwork is our backbone. We have a network of hugely experienced consultants & associates who work together on each project. Each member is an expert in their own domain.”
SERVICES OFFERED BY THE COMPANY Profound Healthcare provides an effective blend of specialisation in Life Sciences, MedTech, and consulting. With the undiluted focus on healthcare, the company offers an array of services that includes:
Providing an extensive understanding of niche disease areas where market landscaping is not
Offering process support for routine internal processes like analysis of internal data, building analytics dashboards, conducting interviews for primary research, and many more to list.
Offering competence in diagnostic space for devices used in MRI Scans, Blood Banking, IVD and Pathology Laboratories.
With a network of highly experienced experts from the Pharma and Consulting Industry, Profound Healthcare provides its core expertise in realistic market opportunity assessments and projections for clients looking to enter new markets or consolidate in existing market segments.
Profound Healthcare has experience in multiple therapeutic areas including Oncology, Transplants, Neuro / CNS, Ophthalmology, Rheumatology, Blood Sciences, Gynaecology, etc.
THE UNIQUE APPROACH Profound Healthcare stands out in the ultra-competitive market by ensuring that the same team of experts provides equal focus on all assignments and ensures delivery of best quality insights for all projects that it undertakes. There are only a few players who offer reliable insights in Oncology in India, Profound Healthcare is one of them. Having a team of experienced professionals, the company owns an unparalleled network in the Indian Oncology space. It covers clinical research, cancer treatment and patient-related insights.
THE CLIENTELE Profound has an excellent reputation for ensuring the timely delivery of its services. Girish affirms, “The only way through which Profound Healthcare has successfully maintained a strong client relationship is through our project deliveries.” The company's client base includes those global healthcare services firms and Pharma companies that wish to understand the niche diseases (especially oncology) in Indian Markets. Profound has delivered projects for consulting firms as well as Pharma companies in the Asia Pacific, EU and USA.
According to Girish, “The mantra for achieving excellent relations with the client is (i) accepting projects related to our core competencies (ii) having a dedicated team of subject matter experts to deliver each of such projects and (iii) deliver reliable and actionable insights.”
MISSION AND VISION STATEMENTS Mission: To enable clients to entrust the company with the responsibility of developing profound insights, strategic roadmaps and process management, leading to optimal utilization of internal resources for the client and increased focus on more critical & game-changing aspects of their business. Vision: To become a partner of choice for pharma / med-tech companies, and healthcare consulting companies by helping them to overcome business challenges and achieve sustainable growth – especially in the Oncology segment.
STRATEGIES TO TACKLE DATA-RELATED PAIN POINTS The healthcare industry is currently facing many pain points, right from dealing with the increasing burden of non-communicable diseases, sub-optimal access to good quality and affordable healthcare, to inadequate infrastructure and insufficient workforce. Besides, India is diligently focusing on Health Data currently as robust data has driven decision-making in many developed countries. Being a research and consulting services provider, Profound sticks to its core competency i.e., to provide high-quality data and analytics solutions to tackle the datarelated pain points. As Profound Healthcare is all set to begin its new journey in the Oncology space, the company will be working diligently to fill all the data gaps in the cancer research & treatment paradigm. “We aim to do this by accessing our extremely strong network in the Oncology segment, which enables us to access the best minds in clinical research, experienced treatment providers from top tier institutes and most critically – the patients,” explains Girish. With the focus on addressing the data gaps, Profound Healthcare is making the cancer data landscape highly robust in India.
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How To Help Your Team Reduce The Workplace
O
ne of the most important aspects of a business is its employees. A business grows when the team is healthy, not just physically but also mentally. Nowadays, workplace anxiety has become a cause of concern for both the employees as well as employers. According to the survey conducted in 2021, 55% of working professionals have workplace anxiety.
If you feel that anyone in the team is suffering from workplace anxiety, help them to stay calm. Communication is the key to solving any problem, talk to that person, listen to them without any judgement and try to reach out to either your senior or the concerned authority. Let’s first look at the reasons that cause workplace anxiety:
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WHAT CAUSES WORKPLACE ANXIETY? The root cause of workplace anxiety differs from person to person. However, here are some of the common reasons which make an employee feel anxious at the workplace: EXCESS OF WORK PRESSURE Work pressure causes a great amount of stress among employees. If an employee is feeling constant stress, it might affect their work performance. Work overload can also lead to mistakes from the employee’s end. Employees start to feel overpressured with work and often make decisions based on their anxiety. For example, a stressed employee may turn down a promotion if it involves more managerial tasks, public speaking, or travelling to new locations. WORK PERFORMANCE Performance anxiety is something that everyone feels at different points in their career. But, if a person is taking too much pressure on performance review, it impacts the productivity and the efficiency of an employee. The fear of getting fired makes people anxious and gives stress. CONFLICT WITH COWORKERS It is okay to have differences of opinion among employees but it should not cause any sort of conflict among them. Conflicts with coworkers are one of the major reasons behind workplace anxiety. A person constantly feels anxious about what others are thinking of him/her. A business can grow only when all employees are working together as a team. LESS PROMOTIONAL OPPORTUNITIES If an organization doesn't provide enough opportunities for employees to grow, they won’t put much effort into the work. Promotion serves as a motivational factor and also helps in fulfilling their financial needs better. The financial burden is the major cause of anxiety and stress. If employees are getting an appropriate salary according to their role and qualification, they feel satisfied and put more effort to increase their productivity.
HOW TO MANAGE WORKPLACE ANXIETY? Treat your team members as your family. Make your employees feel that they are important to the company. The contribution of each individual is equally essential irrespective of the designation. These are the basic things that you should always keep in mind. In addition to this, here are some other strategical approaches that can guide you on how to help your team avoid workplace anxiety. These are: SET REALISTIC DEADLINES The deadlines of any project should be realistic knowing the team's strengths & weaknesses and the difficulty level of the work assigned. Setting realistic deadlines can reduce the stress and give your team time to take breaks and resume work with a fresh mind. A rational deadline not only helps in finishing the project even before the deadline but also boosts the morale of the entire team.
FOLLOW RULE OF 3 Introduce your team to the ‘3 Rule of Anxiety’, that is Sight, Sound and Touch. If any employee is facing any sort of anxiety tell them to do these 3 things: 1.
Sight: While feeling anxious, take a pause and look around and focus on the objects that are in your surrounding. Pay attention to any three objects and observe them carefully such as the pattern, colour, and shape of the object.
2.
Sound: The next step is to listen to the sounds around you. Identify the sound and focus on its pitch.
3.
Touch: The last thing of the 3 Rule is to allow your body to move, it can be tapping of fingers, wobbling your toes, or simply just moving your head from left to right slowly.
These activities help in reducing anxiety by engaging the senses in other activities. It shifts your focus for some time. It is a very effective exercise that gives instant relief from anxiety. APPRECIATE YOUR EMPLOYEES If you are empathetic and compassionate and treat your team members with empathy, then the team will always stay motivated, thereby creating less scope for workplace anxiety. If employees feel that they are important to the company, it reflects in their work and productivity. ENGAGE IN FUN TEAM ACTIVITIES Fun activities are a great way to reduce the stress and workload of the employees. Team activities like Puzzle Solving, Office Trivia, and Potluck can help co-workers bond with each other. Team activities also give a break from the monotonous routine and help reduce stress and work anxiety. CREATE AWARENESS ABOUT ANXIETY Lots of people are still unaware of the anxiety; there are cases when a person is suffering from workplace anxiety and is still unaware of the situation. Educating your employees and creating awareness among them, can help employees suffering from anxiety. You can also conduct mental health screening events, leverage social media and encourage kind language to help raise the collective consciousness about anxiety. A business grows because of the hard work and dedication of its employees therefore an organization must ensure a healthy and anxiety-free workplace environment for its employees. If employees are stress-free and mentally fit, their productivity increases, resulting in the holistic and rapid growth of the company.
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INTELLECT QUOTES ON
“The test of first-rate intelligence is the ability to hold two opposed ideas in mind at the same time and still retain the ability to function.” - F. Scott Fitzgerald “If we encounter a man of rare intellect, we should ask him what books he reads.” - Ralph Waldo Emerson “An intellectual is a man who takes more words than necessary to tell more than he knows.” - Dwight D. Eisenhower
“Failure is simply the opportunity to begin again, this time more intelligently.” -Henry Ford
“There are no great limits to growth because there are no limits of human intelligence, imagination, and wonder.” - Ronald Reagan “A calm mind helps our human intelligence to assess the situation realistically.” – Dalai Lama “An intelligent person is never afraid or ashamed to find errors in his understanding of things.” – Bryant H. McGill Crazy people are considered mad by the rest of society only because their intelligence isn’t understood.” – Weihui Zhou You need to surround yourself with quality human beings that are intelligent and have a vision.” – Vince McMahon
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10 MOST PROMISING CONSULTANTS IN INDIA Brand
Name
Designation
8C Healthcare
Naresh Kumar Pagidimarry Co-Founder & MD
CitiusTech
Rizwan Koita
Co-Founder
HOSMAC India
Dr. Vivek Desai
Founder & MD
Hospaccx
Dr. Tarun Katiyar
Founder & MD
MediBuddy
Satish Kannan
Co-Founder & CEO
Medicuality
Dr. Savitha Narasimhaiah
Founder & CEO
Medium Healthcare Consulting
Ratan Jalan
Founder & Principal Consultant
OHUM Healthcare Solutions
Udai Kumar
Chairman & CEO
Profound Healthcare Services
Girish Vijaykumar Korde
CEO
Qwazent Talent Solutions
Dr. Shruti Nath
Founding Director & Mentor
All the names have been arranged in an alphabetical order, and it is not a ranking
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BUSINESS
EMPL YEES RETENTION Strategies For Your Business Growth
E
mployee retention refers to a company’s ability to retain its existing employees and prevent them from leaving the organisation. Employee retention results in increased productivity and is also cost-efficient. Although it is important to recruit new talents in the company that bring a fresh perspective, it is equally important to retain your key employees.
Undoubtedly, hiring is an exhausting and time-consuming process. And after the employee is hired, it takes a lot of effort and time to embed the required skills in the employee’s mind to facilitate the growth of the company. Therefore, companies consider retaining the existing employees as the best option. Since the existing employees know the process of work, they can work more effectively and produce better results.
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WHY IS IT IMPORTANT TO RETAIN EMPLOYEES?
A company with high employee turnover has to invest a lot in the recruitment process. Constant employee turnover does not give the adequate return on the investment required by the company.
leader to invest more time with the team
Employers consider retaining their skilled and talented employees by providing them with a healthy work environment. Here are some notable benefits of employee retention: SAVES COST AND EFFORTS Recruiting the employees is a backbreaking process. It is highly difficult to find the top talent that fulfils the requirement of the job profile. After recruiting a candidate, training is a must. So, it is easier to retain your existing employees who know how the organisation works. Another challenge is that if a new candidate leaves the company early, all the time and cost that is invested in the whole process goes into vain. INCREASED PRODUCTIVITY Employee retention is directly linked to the productivity of an organisation. This means that a new employee may take some time to speed up the work process while old employees can do the same task in lesser time and more effectively. Companies with higher retention rates are likely to increase their productivity in comparison to those who have high employee turnover. EMPLOYEE SATISFACTION Employees stay in an organisation only when they are satisfied with the salaries & compensation, work environment, growth opportunities, and the culture of the company. If any of these aspects are missing, employees start looking for a job change. If a company is able to retain its employees, it depicts the interactive work culture of the company. Satisfied employees encourage other team members to work enthusiastically thereby resulting in profitability.
STRONGER WORKFORCE
Retention of employees enables the and improve the performance of existing employees and make them even better. Existing employees are able to handle difficult situations smoothly and take on extra responsibilities. They are also capable of mentoring new employees whenever needed.
STRATEGIC APPROACH TO RETAIN YOUR EMPLOYEES Retaining employees is as necessary as achieving the goals of the company. It is a team that helps in achieving those goals. It is always easier to work with a team of old employees that are experienced and have handled a similar situation earlier. You can follow these strategies to retain your employees:
ENGAGE EMPLOYEES FROM THE
PROVIDE ADEQUATE COMPENSATION The majority of employees leave the company because they are not satisfied with the financial aspects. Low pay packages and delay in promotion results in an increased rate of employee turnover. Reward them for their efforts and contribution to the company’s growth. If an employee gets a timely promotion and due appreciation, they feel their value in the company. It also motivates them to work with more focus and dedication. ENGAGE IN FUN ACTIVITIES Reducing the stress of employees by arranging some fun activities in the workplace can help a lot. The employees love to associate with a place that has a healthy work environment. Fun activities help in team-building and give employees' the chance to strengthen their bonds. Fun activities reduce the employees workload & stress and boost their mood which effectively increases their work performance.
BEGINNING Start from the beginning, make such an impression on your employees that they feel that they are provided with better opportunities to grow. At the time of the onboarding process, make sure there is a proper induction of an employee. This process helps the new employee to get comfortable within the team and reach out to you if they have some sort of difficulty. Include each employee in the decision making meetings as it gives them a
TAKE FEEDBACK AND LISTEN TO THEM Maintain good communication with the employees. Ask the employees if there is anything that needs to be changed, or if they want to give any suggestions, ideas or any other feedback. Communication connects employees across different levels. It becomes easier for the employees to raise their concerns, queries and suggestions if there is no communication gap.
sense of inclusion in the company.
SUMMING UP
WORK-LIFE BALANCE
Everyone needs some time for themselves, a good work-life balance can give employees the chance to take out time for themselves. Flexible work timings are beneficial in most companies, as they give employees the choice to work while maintaining their personal life.
Employees are a crucial aspect of any organisation. If your company is able to retain its key employees then the productivity of the company increases significantly. Employee retention is a must for the company as it reduces the attrition rate of the company and also the cost that is invested in it.
You can also adopt remote and hybrid working models occasionally. These few changes can help you a lot in retaining employees.
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TRAVEL
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Indonesia THE MAJESTIC LAND
S
ituated in Southeast Asia, Indonesia is the largest archipelago in the world. It shares its borders with Australia, Malaysia, Papua New Guinea, Singapore and many others. Rich in culture and religion, Indonesian culture is influenced by indigenous traditions and various religions. Indonesia is always a must-visit destination for tourists to visit. The land of Indonesia has so much to offer to make your holiday memorable. From beaches to night safari and spiritual pilgrimage, Indonesia is a powerpack destination If you are looking for a relaxing vacation, the majestic land is calling you.
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TRAVEL
BALI Located in the Lesser Sunda Islands, Bali is one of the most beautiful places in the world. It is among the favourite holiday destinations for tourists. With the perfect combination of beaches, coral reefs and endless coastline, Bali is a paradise. The eminent tourist attractions are Mount Batur, Sacred Monkey Forest Sanctuary, Seminyak Beach, and Pasir Putih Beach. April to October is the best time to visit Bali. The cuisine and culture of Bali are worth experiencing. To give your taste buds an Indonesian delight you can try the street food there. Nasi Campur, Babi Guling, Traditional Balinese coffee, and Jingo rice gives your taste buds a whole new thrill.
JAKARTA The capital city of Indonesia, Jakarta is situated on the northwest coast of Java. The concoction of city life and culture can be seen in the majestical city of Jakarta. This city gives you an altogether different experience. Jakarta's museums and old towns give you a glimpse of the historical and cultural past. The major tourist attractions in Jakarta are Ragunan Zoo, Monas Tower, Istana Merdeka, Ancol Beach, and Kota Tua among others. If you are planning your vacation to visit this splendid city, July to August is the best time to explore.
LOMBOK If you are planning a chilled and relaxing vacation, Lombok is the place you are looking for. The pink beach in Lombok enhances the beauty of the island. The top attractions of Lombok are Gili Trawangan Island, Tanjun Ang Beach, Surf Point Bongkas, Pura Meru Mount Rinjani, Sembalun Village, and Kondo Islnad. The natural beauty of this island gives you serenity and tranquillity. Apart from this, a variety of adventurous activities are also available to make your holiday thrilling. You can enjoy hiking, trekking, golfing, and camping.
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MAKASSAR Makassar is the largest Indonesian city and is known as the country’s largest trade channel. Makassar is the amalgamation of colonial and Dutch architecture. The major tourist attractions of this cosmopolitan city are Losari Beach, Fort Rotterdam, and Paotere Harbour. The lakes and waterfalls give you the majestic experience of nature. If you love the water adventure, Makassar gives you chance to quench your pleasure. You can take the snorkelling tour, Scuba diving, waterskiing, and jetskiing. The best place to visit Makassar is from July to November.
BATAM Batam has become an ideal tourist place for not only people from nearby places like Singapore and Malaysia but also for people living in other Asian and European countries. Popularly known for its seafood, Mie Tarempa Noodles, Martabak, and Sambal are worth trying. February to August is the best time to visit Batam because the weather in these months is suitable for a holiday. The crystal clear sea attracts the tourists to enjoy the beautiful world of water. The major attraction of Batam is Tua Pek Kong Temple, Barelang Bridge, Vietnam Village, Abang Island, Ocarina Beach, and Jabal Arafah Mosque. After you enjoy visiting these places, you must take Batam Spa Massage to relax your body and mind. The soothing massage refreshes your mood and makes you feel lively. "So, why wait? Pack your bags to explore the land of many lands, Indonesia which will surely give you one of the best holiday experiences.
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