One thing is very clear that there is no looking forward in any business any segment without efforts related to Transformation.
Moving forward we can look at various Business Segments such as follows for the Transformational change.
- Healthcare
- FMCG
- BFSI
- Supply-Chain – Pharma Industry
- Food chains
- Banking Institutions
In this article we shall be looking at Healthcare Industry.
I would not be wrong if I say that in last 12-15 years Healthcare industry has unearthed phenomenal changes but if that was X%, as way forward its time we move to 500X & in very short time frame.
There are structural changes that are required at each of those healthcare organizations, where Doctors having their core competency must focus on their medical field, many a most of the time that 50 to 75% of the doctors are also focused on Process, Administration, so as to summaries on middle office and back office related activity.
Transformational changes: In the journey of an organization, while adopting to the Transformational changes following key areas must embrace changes:
- Organization Structure
- Process Transformation
- Implementation of new Software
- Cleaning & Purging of Data
- Integration of Financials and Accounting
- Reports & MIS
- Adoption of new structure and Processes
- Sustenance – Core team, for Measuring of success and
- Quantum of Change & Pace of Change – Unprecedented
- Risk & Profitability
- AI & ML usage
- Different approach for B2B & B2C –
- Impact analysis
Without losing controls & Efficiency of the overall originations, its worth putting in place key measures, effective – efficient processes, software changes, Training to drivce adoption and Measurement of Success.
Some of the critical aspects such as Customer on boarding, ease of access to system and reports for all Doctors (As part of the Eco system), Financial Tables, data and sharing of such important information’s as required, Seamless Integration of Finance & Accounts systems including Teams is a MUST measure.
Patients Support & Services, Data – Reports availability, Retrieval of records as and when desired are few of the critical success factors of a well-oiled Healthcare set up.
Support & Service after Treatment:
It is also a fact when we look at market behavior, unless effective and efficient Transformation processes, Digital Implementation and Adoption of the Highest level are not in place, difficult for those good healthcare institutions despite the scale and size to generate growth in capital market or Sustain competition.
So if you are looking forward for business Sustainance, Business Expansion leveraging Technology and adoption of higher, better more efficient measures do connect with the Author of this article.
Disclaimer: This article provides general information existing at the time of preparation and we take no responsibility to update it with the subsequent changes in the law. The article is intended as a news update and Affluence Advisory neither assumes nor accepts any responsibility for any loss arising to any person acting or refraining from acting as a result of any material contained in this article. It is recommended that professional advice be taken based on specific facts and circumstances. This article does not substitute the need to refer to the original pronouncement.
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