Loading...
Healthcare
Providing healthcare companies in hospitals, diagnostics and healthtech space with research oriented actionable and scientific insights related to market assessment, patient / doctor experience and NPS, patient / doctor needs and behavior study, competitive benchmarking, etc.
What we do
- What are the new growth opportunities that exist within hospitals, diagnostics and healthtech space? What are the sub-sectors in each?
- What are the number of players in each of this space by sub-sectors, by geography, by target customer segments?
- How is the market structured? Is the market too fragmented?
- What is the blended pricing of services provided by these competitors (both organized and unorganized)?
- How is the demand landscape? What is the number of patients by age, income, geography, etc.?
- What is the number of patients using the services provided across each of the sub-sectors?
- What are the key drivers and barriers to entry in this market?
- What is the current and forecasted (for the next 2-3 years) market size (TAM and SAM) of this opportunity?
- What are the future growth drivers? What are the opportunities that exist in this space? Are there any white spaces?
- What are the different distribution channels used by diagnostics / healthtech players to acquire customers?
- What is the split between online and offline channels? Who are the participants involved in each?
- What are the margin structures paid by different brands (regional / national)? What are the industry standards?
- How does client’s channel margin structure compare with that of the competition?
- What incentives policies / schemes are working well?
- What are the drivers / barriers in expanding the distribution network?
- What support is provided by diagnostic / healthtech companies to sell more through their channel partners?
- What products / services are offered by client and its competitors? What is the price point at which it is offered?
- How are the products / services bundled together? How does the pricing vary across these? Are there subscription price models adopted by competitors?
- What is the competitive positioning of client’s products / services against that of competitors?
- What is the willingness to pay of customers / patients for client’s products and services?
- What are the features for which the customer is ready to pay the premium?
- Is the healthcare market influenced by product / service discounting? Are patients attracted towards low price? What are the different promotions used to lower price across periods?
- How can price be used as a strategy to win market share?
- How many franchisees does the diagnostic company has?
- What are the parameters of franchisee qualification and enrolment?
- What is the agreement done with franchisees (revenue sharing vs profit sharing)? Does the diagnostic company provide capex, consumables, furniture, collection center retrofitting, etc. to the franchisee partners?
- What is the monthly / annual revenue of the franchisee partners and its nearby competitor labs? How does it vary across cities / regions, agreement structure, etc.? What marketing initiatives are undertaken by the franchisee partners to acquire more patients?
- What is the overall cost required to run a franchisee lab?
- What are the margins earned by franchisee stores on a monthly / annual basis? What is the revenue growth?
- How does the franchisee labs / collection centers perform in terms of the margins / unit economics compared to nearby labs?
- How likely is the franchisee partner (lab / collection center) to promote the diagnostic company’s brand / services?
- How does the franchisee partner NPS vary across cities and specific micro-markets within the city?
- Does the NPS of franchisee partner vary based on the agreement structure, payment collection (cash / credit), etc.?
- What are the drivers for franchisee loyalty and NPS? How does the diagnostic company fare on those?
- What initiatives are undertaken by the diagnostic company to improve franchisee partner NPS?
- What are the industry and competitor NPS benchmarks for franchisee partners?
- What are common global best practices that can be implemented to drive franchisee experience?
- What are the sources of revenue for hospitals, diagnostics and healthtech companies? What is the volume of each source of revenue (for hospitals - # of consultations, # of procedures, etc.; for diagnostics - # of lab tests, for healthtech companies – service offered based on type of healthtech company)?
- What is the cost involved in providing each service (doctor / medical staff cost, employee cost, facility cost, consumables cost, overheads, etc.)?
- What is the unit economics of these hospitals, diagnostics and healthtech companies as compared to its competitors?
- How is the unit economics sensitive to price and volume of services provided in a month?
- How does the unit economics vary by region, type of patient, type of procedure / test / service, etc.?
- What are the areas in which the competitors fare better than the client company w.r.t. unit economics?
- What are the learnings derived from competitors for the client company to improve unit economics?
- How big is the catchment area of the doctor’s practice and the catchment population?
- What is the number of consultations and surgeries that is currently done and growth in five years?
- What is the % repeat visits and % visits from catchment area?
- What is the pricing of consultation and surgeries yearly for the next 5 years?
- What is the payment method ? OOP, personal insurance, government insurance, etc. used by patients?
- What is the revenue recognition and growth based on payment cycle of insurance companies?
- Who are your key customer segments? What is their persona? What are their clinical needs / therapeutic areas where they avail the service (consultation, procedure, etc.)?
- What is your catchment area? How many competitors exist in your catchment area?
- How many patients visit your hospital / diagnostic lab on a daily / monthly basis compared to your competitors across their clinical needs?
- What is the %age conversion of OPD to IPD, IPD to surgery, surgery to post-op care, etc. as compared to your competitors?
- What are the initiatives undertaken by you to increase footfall in your hospital / lab for your target customer segments? Do these initiatives vary by clinical needs?
- What are the initiatives undertaken by competitors to increase footfall? What are the learnings derived from competitors to increase footfall?
- Who are your key patient segments in the micro-market? What is their persona?
- What are the pain points and unmet needs of patients in that micro-market?
- What is their annual spend on healthcare? How is the share of wallet distributed among different players for the healthcare needs of patients?
- Who are the key competitors (local / regional / national labs; standalone / hospital chain, etc.) in the micro-market?
- What is the patient footfall across type of services provided by these hospital / labs and how much is inflow from neighbouring micro-markets?
- How are the competitors growing?
- What are the gaps between patient expectations and current service offerings by these players?
- What are the drivers for doctor productivity?
- How does the hospital score across various dimensions of People Value Creation framework (PVC) framework? How do they stand against similar companies?
- What are the current doctor engagement levels?
- How does technology impact doctor productivity? How does availability of medical supplies, consumables, nurses, OT theatre, medical staff rostering, etc. impact doctor productivity?
- How does the doctor productivity vary across different specialties?
- How do hospital actions impact doctor productivity and organizational KPIs?
- What are the initiatives undertaken by hospitals to improve doctor productivity?
- What are the different ways to incentivise doctors? How do they differ across specialties in the client hospital and across competitor hospitals?
- How satisfied are the doctors with the rewards and recognitions policy / revenue sharing / profit sharing agreement of the hospital?
- How many vendors does the hospital / lab has? Do they source a given product from a single vendor or multiple vendors?
- Where are the vendors located? What is the split of domestic / international suppliers?
- How does the hospital / lab perform vendor benchmarking across the different parameters like supply lead time, OTIF rate, %age returns, payment collection, etc.? How is it compared to industry standards?
- How does it score across the different dimensions of PGA Labs vendor benchmarking toolkit?
- Are there any opportunities to consolidate vendors? What are the economies of scale achieved due to vendor consolidation?
- How is the vendor contract impacted due to consolidation exercise?
- What are the drivers for medical staff (nurses, paramedics, admin support, back-office employees, management executives, etc.) productivity and motivation?
- How does the company score across various dimensions of People Value Creation framework (PVC) framework? How do they stand against similar companies?
- What are the current staff engagement levels? How can that be improved?
- How do hospitals / labs actions impact staff productivity and organizational KPIs?
- What has been the trend in staff retention / churn? What are the reasons for them?
- How does the salary received by medical staff compared to industry standards?
- How satisfied is the staff with the rewards and recognitions policy of the organization? How does it compare with competitors?
- How satisfied is staff with the benefits policy (insurance, PPF, etc.) of the client hospital / lab? How does it compare with competitors?
- What are the improvement areas in terms of training and learning for the staff?
- How likely is patient to promote the hospital / lab services? How much is the patient referral rate to family and friends?
- Which patient segments are unsatisfied and at-risk for the brand?
- What are drivers for patient loyalty and NPS? How does the client hospital / lab fare on those?
- What role does digital technology (online consultation, home healthcare, home sample collections, etc.) play to improve patient NPS?
- What are the industry and competitor NPS benchmarks?
- What is patient feedback on services provided by hospitals / labs? Where do patients want the hospital / lab to improve?
- What are latent and unmet needs of the patient? What do they value the most?
- What is the gap in the current patient experience and services provided by hospitals / lab?
- What are common global best practices that can be implemented to drive patient experience?
- How does a typical patient journey look like across the entire lifecycle à symptoms, diagnosis, treatment, payment, etc.?
- How do patients interact with the doctors and medical staff as they enter the hospital / lab? What are the most valuable touchpoints? How does it vary for online consultations?
- How was the patient’s experience across touchpoints in OPD, IPD, surgery, post-op, sample collection, etc.?
- What are the pain points and unmet needs across these touchpoints?
- What are the opportunities to optimize and innovate across the patient journey to provide better care?
- How big is the catchment area? How much is the catchment population?
- Who are the key competitors (local / regional / national labs; standalone / hospital chain, clinics, etc.) in the catchment area?
- What is the patient footfall across type of services provided by these hospital / labs and how much is inflow from neighbouring catchment area?
- What is the pricing of services provided by these players? How much is the variance by specialties for consultations / surgeries, by type of lab test, etc.?
- How has been the feedback of customers across the services provided by these healthcare providers?
- What are the gaps between patient expectations and current service offerings by these players?
- How are the competitors growing? Are there any new entrants in the catchment area who are planning currently or in near future?
- What is the maximum potential of different brands prevalent in the healthcare delivery space?
- What is the degree of brand awareness with respect to competitors?
- How does brand awareness change with patient demographics, geography, and customer clinical needs?
- How affluent are the patients towards their healthcare provider’s brand? What is their stickiness to that brand? How does it vary as compared to its competitors?
- How is the brand recall of patients towards their healthcare providers and how does it fare as compared to their competitors?
- How slowly / quickly is the brand growing relative to competitors?
- What is the patient repeat visits and patient retention rate? How does it compare to industry standards?
- What are some of the best practices to strengthen brand value?
- How does your company fare with regards to their competitors for the following processes ? Order to cash, Procure to pay, Market to customer, Hire to retire, Finance to manage, Audit to compliance, Lead to conversion?
- How does your company fare with regards to their competitors for the following operational metrics ? Waiting time, Registration to treatment time, ALOS of patients by specialty, Revenue per employee / staff, Revenue per sq.ft. of hospital / lab, Inventory stocking rate of consumables?
New opportunity market sizing
- What are the new growth opportunities that exist within hospitals, diagnostics and healthtech space? What are the sub-sectors in each?
- What are the number of players in each of this space by sub-sectors, by geography, by target customer segments?
- How is the market structured? Is the market too fragmented?
- What is the blended pricing of services provided by these competitors (both organized and unorganized)?
- How is the demand landscape? What is the number of patients by age, income, geography, etc.?
- What is the number of patients using the services provided across each of the sub-sectors?
- What are the key drivers and barriers to entry in this market?
- What is the current and forecasted (for the next 2-3 years) market size (TAM and SAM) of this opportunity?
- What are the future growth drivers? What are the opportunities that exist in this space? Are there any white spaces?
Connect with our experts
Why 1Lattice?
Tech Enabled
Quality of Insights
Reliability of Outcomes
