Branding a Key Element to the Healthcare Industry

Vendors pay stringent attention to their branding of products to attract and preserve a steady customer base. A brand is a perceptible uniqueness that has varied characters and disposition. Usually people buy into the brand and the security that it offers.

Similarly, the healthcare industry also relies on branding, and this factor greatly affects the steady flow of customers to keep healthcare companies afloat. When it comes to healthcare strong branding efforts are needed. Whether it is working with providers or bringing in new patients, healthcare businesses must be able to manage a brand that people have faith in.

This is mainly imperative for physical health and wellbeing. People do not trust a healthcare company without it being a trustworthy brand. A few facts and keys that the healthcare companies should consider are, the company needs to keep in mind the brand value so as it is considered for future merges. It should build relationships with doctors, patients, payers and providers; this would help the company to build a strong customer base. The product or service of the company should be able to provide patients with a unique experience that cannot be replicated. This will generate higher returns, growth and mitigate risk. Attract and retain top talent – nurses, doctors, physicians assistants, etc. this will instill trust and reassurance and increase brand awareness.

Healthcare is personal, and thinking of your brand as a promise will help in the growth of the company. Recognize the company’s strengths and weaknesses, acuities do not always match reality, nonetheless they do affect how many people trust the brand for care. Set yourself apart from others and connect online and offline channels this keeps the company abreast with latest technology while keeping it connected with the customers.

‘Branding is just as essential for the healthcare industry as it is for retailers and manufacturers. To attract and retain patients, set your company apart from others, build trust and loyalty and maximize the relevance of your brand!’

Branding a Key Element to the Healthcare Industry

Trending Technologies: Unveiling New Prospects for the Indian Healthcare Sector

Innovative technologies are the mainstays of today’s modern world. Right from an individual to the various sectors contributing to the GDP of a nation, a bounty of activities and progression is solely dependent on the evolving technologies at the global platform. With each passing year and turn of every decade, emerging technologies are evolving at a brisk pace that is ultimately setting the trajectory of growth and development.

One such sector that has showcased a remarkable transition by embracing new trends and innovations is the Indian healthcare industry. Shedding the conventional patterns and approach, the industry is exploring every possible opportunity to stand amongst the major contributors to the Indian economy. Studies reveal that the healthcare segment is growing at a CAGR of sixteen percent and is expected to climb up to USD 280 billion by 2020. Also, with the advent of ‘frugal innovation’ in the private sector, healthcare services are uniquely poised to undergo a radical change in the near future.

This post collaborates the recent trends that made way into the Indian healthcare industry and proved to be the ‘showstoppers’ in delivering a plethora of new advancements. This paradigm shift is not only limited to embrace new technologies, but it’s also a gigantic step to revamp the overall process for improving the deliverables and increasing efficiency as well.

Telemedicine

Portrayed as one of the most beneficial digital trends across the globe, this technology truly holds the potential to deliver optimum healthcare services to patients living in rural areas and in the remotest corners of the country. Even though the best doctors in the world are of Indian origin, the fact remains that millions of people still don’t have access to quality facilities. Telemedicine brings the finest doctors and the patients at one platform using digital technology – without even traveling a single mile! This technology was existent in India over the last decade; however, the usage was very restricted. Now, with the entrance of private players and Government participation, it is been implemented at a much larger scale.

Artificial Intelligence

Undoubtedly, this technology has added new dimensions and has unlocked new horizons in the healthcare sector. With support from the State and Central Government, AI technology is penetrating the Indian medical sector at all levels. Companies like IBM, Microsoft, and Google are working extensively to build solutions in the key area of diagnosis. The IT giants are working on the vast amount of raw data and construct it into meaningful analysis. AI algorithms are assisting to monitor and manage the various parameters in the human body. In partnership with Apollo Hospitals, Microsoft is using AI for detecting cardiac diseases. Chatbots and virtual assistants are the other distinctive features that are simplifying the cumbersome process of registering medical records, lab results, and clinical workflows.

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Mental Illness among Children – A Bad Behavior or a Serious Problem?

Yes, you have read it right. It may not be a bad behavior of children, but it can be a mental illness. Hence, spotting various signs of mental illness among children has become an essential task for parents. Though, mental health disorders are common and bulging/rising at a high rate in young children, a number of children are not getting the right help they need. For this, parents need to keep their eyes open and trace even the slightest of the mental illness symptoms and bring their children to the concerning doctors.

A recent study estimated that approximate 8 million children nationwide have at least one mental health disorder. The reasons for this inconsistency can be very extensive. It has also been surveyed that a lot of parents fail to recognize certain behaviors as a true symptom of mental illness. Even if the parents could recognize, they worry about their children being getting labeled with a mental diagnosis that will follow them through their childhood or adolescence. Also, financial concerns may arise regarding the treatment process. This fear among the parents prevents them from presenting the real issue to the child practitioners.

To analyze these issues parents should detect their symptoms or early signs.

Rectify the Issues at an Early Stage

Child psychologists suggest that mental health concerns should be caught as early as possible. Parents should focus on tracking their children’s activities, identifying issues, working on them, before these issues become a disaster.

Signs of Mental Illness

Child psychologist says that there may be numerous signs among children that reflect mental illness:

• Mood Swings:

If your child’s sadness or withdrawal lasts for at least two weeks or he/she has severe mood swings affecting relationships at home or school, it is the right time to take a consultation.

• Facing difficulties in concentrating:

Look if your child is not able to concentrate or to sit still, both of which may lead to poor performance in school.

• Self-destructive behavior or Physical Harm:

Sometimes, unstable mental condition leads to self-harm. In this behavior, a child has a tendency of harming their own body, such as burning or cutting themselves. Children with a mental health condition also might commit suicide or can develop suicidal thoughts.

It also includes drastic changes in behavior or personality and dangerous or out-of-control behavior. Fighting repeatedly, that too using weapons, and wanting to badly hurt others are warning signs.

• Various Physical symptoms:

It subsumes frequent headaches, loss in appetite, stomach-aches, weight loss or gain, eating disorders, or more.

• Over-anxiety and over-fear:

Check for your child’s feelings of overwhelming fear for no reason. Be it sometimes with a racing heart or fast breathing or worries or fears that would directly or indirectly interfere with the routine activities.

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The Sad Prejudice of Fat-shaming

Sitting in the waiting area of a clinic was a girl, suffering from obesity syndrome. She looked flushed. Not because of the hustle she had to go through to get in the chair, but because of the embarrassment brought upon her by all the judgmental eyes around. Surprisingly, joining the audience was the compounder, and a well-trained one at that. This, for us, is a normal scenario. Everywhere we go, the stigma of fat-shaming exists. And what is worse, some people even do it openly. Not only has it harmed the mental health of numerous people, but has also made their physical conditions worse.

The Contradictory Study

Some people think that through fat-shaming they can push obese people to lose weight and concentrate on the fitness. But, according to a study conducted by the University of Pennsylvania, this actually has an opposite effect. In this study, 159 people underwent a survey where they were asked about how negative they feel about being obese or fat. The results of this study indicated that the people who felt more embarrassed and negative about their weight were actually more prone to the diseases related to obesity. Explaining the reason behind this, the lead researcher of this study said, “When people feel shamed because of their weight, they are more likely to avoid exercise and consume more calories to cope with this stress. In this study, we identified a significant relationship between the internalization of weight bias and having a diagnosis of metabolic syndrome, which is a marker of poor health.”

Existing Stigma

Well, having this bubble broken, the world should be today moving towards finding the practices that would actually help. The real problem starts with the bias around weight. Since ages, we have been glorifying slim body types, through movies, shows, magazines, and many more. This has been done to an extent where our mentality is molded according to it. ‘Obesity is just a disease and not a personal problem’- people, including a large number of doctors, have failed to understand this. A wide array of environmental and biological factors contributes in this disease. With risks to so many diseases increased due to obesity, this is a serious concern. Adding to this are the mental health concerns that come with it.

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Brand Promise + Brand Experience = Relationship

Both in terms of revenue and employment – over the last decade, the Indian healthcare sector is touching the pinnacle of success in terms of raising revenue and employment. The healthcare ecosystem comprises of various key components – hospitals, insurance, diagnostics, pharmaceuticals, clinical trials, and telemedicine to name a few. Innovative services, increase in expenditure from the public and private players, expanding the medical coverage, and branding are some of the factors that are fuelling the growth rate at an exponential pace.

As the sector witnesses a fierce competition with the entrance of emerging players, branding has become a key to sustain and surge ahead among the competitors in today’s market. Due to the stringent norms and regulations, the traditional marketing techniques are not that effective in scaling up the business revenues. Secondly, the branding distinguishes and showcases the USP of any company or organization that ultimately assists to create a niche market along with customer base. The most evident example is the transformation of various private hospitals that have reworked their existing business models and have standardized the quality of healthcare facilities within the country. The healthcare insurance or Mediclaim is another area that has embraced brand sensibility and sensitivity and has evolved as a major contributor in the sector.

Decoding Consumer Relationship

As more and more players in the sector are implementing the above equation, the onus of delivering is rapidly growing. It defines the logic that a customer’s opinion about the company before actually knowing them is as important as their experience with the service, which the company actually offers!

Indians are known to be very emotional across the globe and decisions relating to healthcare are very personal and significant. One can eat pizza from any popular restaurant, but in case of an eye injury, everyone would like to get treated from the best possible doctor available on the planet! This literal exaggeration of expectation reflects the special relevance of branding in the healthcare industry.

As the healthcare landscape progresses to make in-roads for delivering improved quality and increased access, brand-developing remains a vital connectivity for both B2B and B2C segments. More than differentiating the services, branding is acting as a catalyst for innovation and value-added experiences.

The Current Scenario

In recent times, India stands amongst the top choice for medical tourists across the globe. Studies reveal that by the year-end, this sector will garner up to 6 billion USD. This tremendous growth is driven by brands like Wockhardt Ltd, SNG India, Lenskart, Apollo Ltd, Cipla, Multifit, Fortis Healthcare – and the list continues! As a leading provider of high-end diagnostics services along with the huge influx of capital investment for advanced diagnostics facilities, the Indian healthcare sector is evolving as the global platform for rendering the international medical tourists. The companies are working towards improving the touch points between the target audiences to create awareness and publicize the medical offering from their end.

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Telehealth and Remote Care bringing Convenience for Payers

Today, health plans are challenged to improve customer service and member satisfaction that has failed to surpass customers’ expectations. Also, commercial health plans are lagging behind other industries in consumer satisfaction metrics, including convenience, and user-friendliness. Hence, providing apt telehealth options could provide an opportunity for payers to address some of these concerns.

Telehealth is a serviceable healthcare delivery tool since many state governments have lowered legal barriers for telehealth adoption. According to a recent survey, it has been noticed that over 64 bills were approved by 34 state legislatures that expanded telehealth reimbursement, detached reimbursement barriers, and elevated participation in interstate licensure agreements. These bills have created new policies such as increased opportunities for behavioral healthcare, implementing telehealth services into schools, and supplying broadband internet expansion in rural areas to maintain telehealth delivery.

Commercial payers have made trials with telehealth and remote care benefits to effectively improve care coordination, healthy behaviors, and beneficiary satisfaction. Telehealth benefits and services can provide additional support for payer wellness programs that keep beneficiaries healthy and out of the hospital. Payers can address challenges of medication non-adherence by offering benefits that utilize telehealth, text messaging, and digital engagement to ensure beneficiaries maintain their prescription treatments.

With Telehealth and digital health solutions, payers can serve their employer customers and enhance employer-sponsored insurance products. Hence, healthcare payers should take keen notice of enormous opportunities that telehealth and remote care can provide to health plan value. But it also needs to understand that extensive investments are required to provide telehealth services.

Payers that have fresher as well as digitally savvy recipients in areas with high broadband connectivity could provide them with similar healthcare experiences and on-demand healthcare purchasing. Equally, payers that have large groups of rural recipients may need to invest in additional broadband or technology to provide telehealth services with lower internet connectivity.

Moreover, the secret behind successfully providing telehealth lies in working with providers to fairly negotiate reimbursement underpayment parity laws. Payers can define fair and reasonable rates based on patient consequences and cost-effectiveness of healthcare.

With these myriads of benefits that telehealth and remote care have to offer, it may prove the new standard of care for the future bringing layers of benefits to its users.

Telehealth and Remote Care bringing Convenience for Payers