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Why are Key Resources Important for the Health Business?
By *Ameen Ahsan Strategy Consulting* If there has been a sunshine sector, driving employment and revenue generation, it is healthcare. And no wonder! With a robust domestic demand, rise in innovative healthcare, corporatization of healthcare facilities, influx of medical tourism and the government push towards healthcare innovation, the overall segment has been driving the job market, even as others have ebbed and flowed. What’s more the consistent influx of money into research and development by pharmaceuticals and into innovative healthcare practices, raise the bar for revenue generation and employment. The healthcare industry provides a variety of services to support the healthcare needs of a community or individuals. The healthcare industry classifies the different products it offers by sector. Hospitals and healthcare systems are continually changing their service offerings, and responding to various internal and external forces including reimbursement issues, advances in technology, and shifts in the populations they serve. Currently, Healthcare Industry stands at a cross-road of high-end, multi-specialty private healthcare services on one end and lack of doctors, support staff, medicines and facilities at the other. High-end facilities and education platforms are concentrated near metropolitan centres and some areas of the country having no basic access to Healthcare facilities If you are investing in the Healthcare Industry, it is important to ensure that you have invested well in your key resources. Key Resources states that they are “the most important assets required to make a business model work”. So what kind of elements a business needs to work successfully? Key Resources help creating a value proposition. Or do other key things, like reaching the market, maintaining the relationship with the customer or earning revenue. There are four different types of Key Resources: Physical, intellectual, human and financial ones. Which of them a particular business needs or depends varies heavily on the industry it’s operating in. And as you scale, your Key Resources will possibly change and evolve. Your Key Resources typically support your Key Activities and all of that typically works with your Key Partners to supply your Value Proposition. And remember: resources drive costs, so they must be managed! Share your views on this post! Ameen Ahsan Strategy Consulting "where visions are realised" 7th Floor, Hi Lite Business Park, Calicut http://www.ameenahsan.com +91-7558-900-800 info@ameenahsan.com *Kerala's finest experts for Feasibility Studies, Strategy Reports / Project Reports, Business Models and Vision Realisation*
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Why is Strategic Partnership Important in Healthcare Business?
By *Ameen Ahsan Strategy Consulting* If there has been a sunshine sector, driving employment and revenue generation in this decade, it is healthcare. An Industry which is well invested and which continues to attract more investments is the Healthcare Industry. Super Specialty Hospitals, Medical Colleges, Clinics, Medical Labs, Para Medicals etc all associated with the Healthcare Industry has boomed in our localities. Healthcare, in itself, is a high-cost sector for both end-users and providers. Rise in population and increasing life expectancy underline the high domestic demand for healthcare services. Even though healthcare system is run at both the Centre and state levels, mistrust, low quality services and less penetration in rural regions, have helped establish a supportive private healthcare network. Healthcare Industry has seen very stiff competition over the years. This current trend is only set to rise as new players and existing players with very huge financial backing continue to invest in the sector. One way to eliminate or reduce competition is to enter in to strategic partnership with other players. Strategic business partnerships have grown increasingly popular and serve as a means for both parties to increase their brand awareness and capital, without expending extra time or experiencing significant financial impact. Entering a strategic partnership will automatically increase awareness of your brand among an entirely new market that your business has not had the resources to reach beforehand. Strategic Partnerships allow your business to reach a broader audience without putting in extra time and capital. A trusting, solid business partnership will provide access to a completely new customer base that the business would not have had access to otherwise. Business Partnerships should be approached just as one would approach a friendship. Both need constant nurturing to grow and prosper. There must be consistent and quality interaction as well as thorough, clear communication to obtain the best results. If a friendship or alliance is not constantly being nurtured, “fall out” might result. In the end, strategic partnerships offer tremendous potential benefits to both parties. But like any relationship, both companies need to carefully assess each other’s motivations and expectations before making a commitment. *Ameen Ahsan Strategy Consulting* "where visions are realised" 7th Floor, Hi Lite Business Park, Calicut http://www.ameenahsan.com +91-7558-900-800 info@ameenahsan.com *Kerala's finest experts for Feasibility Studies, Strategy Reports / Project Reports, Business Models and Vision Realisation* |
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