Scaling up Indian Tele-consult Platforms – “7S” success Framework for Virtual Care

(Standard disclaimer: Views, thoughts, and opinions expressed in the post are my own, and do not reflect the view of my current or past employers. I may not have copyright to any images in the post)

In my earlier post, I focused on key success factors for driving “virtual care” uptake in India. This article would focus on framework that entrepreneurs / startups / strategists can leverage to build an “at scale” and “comprehensive” virtual care company.

Given that we are looking at “SaaS” based business models, it may be prudent to explore success factors for scaling up such an enterprise. Following are select pearls of wisdom captured from an excellent talk, titled “Scaling from $1MM to $500MM ARR”, delivered by Karen Peacock (COO, Intercom) at annual 2019 Saastr conference:

• Expand your customer base by focusing on NOT what they want but what they need e.g. they may ask for budgeting tool, but cash management software better serves their needs
• Watch what your customers do NOT what they say e.g. they may say quality is my top selection criteria but in actual practice, always goes for cheapest option
• Your strategy is as much about what you DON’T do e.g. few short-term gains are worth a miss
• Add-on purchases happen upfront - nail your purchase experience and “show” rather than “tell”
• Keep reinventing – find the market fit again and again
• Fall in love with the problem NOT the solution
• Focus on active use and DO NOT fall for vanity metrics like visits, downloads etc.
• Decide your platform play – focus on delivering value to customers, partners and then yourself (yes, in that order)

Virtual Care – Key success factors for Indian healthcare participants

(Standard disclaimer: Views, thoughts, and opinions expressed in the post are my own, and do not reflect the view of my current or past employers. I may not have copyright to any images in the post)

After trying to predict the post-Covid era for Indian healthcare in my earlier post, it did emerge that “virtual care” may be a major focus area going forward. In this post, we will try to understand, how “at scale” and “comprehensive” virtual care works and what would be key success factors for key Indian healthcare participants?

In my quest for finding the right definition of “virtual care”, the post on “intouchhealth” website seemed to be most helpful. It defines virtual care as “a broad term that encompasses all the ways healthcare providers remotely interact with their patients. In addition to treating patients via tele-medicine, providers may use live video, audio, and instant messaging to communicate with their patients remotely. This may include checking in after an in-person visit, monitoring vitals after surgery, or responding to any questions about their diagnosis, condition or treatment plan”

Predicting "post-Covid" era for Indian healthcare

(Standard disclaimer: Views, thoughts, and opinions expressed in the post are my own, and do not reflect the view of my current or past employers. I may not have copyright to any images in the post)

Developments over the past few weeks have been unprecedented and with “health” at centre of Covid crisis, experiences are personal in nature. Given the constantly evolving landscape, I thought it may be meaningful to imagine how post-Covid era will look like for Indian healthcare participants. I have leveraged the “C-O-R-O-N-A” framework to structure my thoughts. The objective is to catch big trends and at the same time brainstorm with readers like you. So, let us begin.

C: “C” of the framework stands for “Contact”. “Touch and feel” has acted  as a placebo for patients given the health seeking behavior in India. Few years ago, I do recall that business models build around tele consultation provided at fraction of a dollar was struggling to find takers. Even western world leveraged it mostly for emergency support. Doctors too, had their share of reservations e.g. sub-optimal diagnosis, potential loss of business and so on.

AAP ki sarkaar : Will it succeed?

Those who follow cricket could relate to the scenario, “An underdog, not even having an outside chance, goes on the offensive and starts giving the opposition more than just a scare. Suddenly the underdog realizes that s/he can even win the contest. But that’s when the tide starts to turn i.e. the thought of success invites failure.” Some may attribute this to AAP (Aam Aadmi Party) as well when they were presented with the idea of forming the government in Delhi aided by Congress party’s “unconditional” support. This set “the cat among the pigeons” and rest as they say is history. 

While the jury is still out whether “referendum” was needed or is Congress’s support worth relying upon, in this post, I would rather focus on what lies ahead if AAP’s government is indeed formed? I must say I am really excited about this development even though my opinion would have been a NO to Mr. Kejriwal’s question during the referendum. 

Why did Sreesanth cheat?

If the title of the blogpost gives you the impression that what follows is an investigational account of the nexus among bookies, players, politicians etc., then you are bound to be disappointed. So, in order to set the context, let me outline what this post is all about. This post captures my understanding of what behavioral economists have to say about “cheating”. The learnings are mainly from an online course from Dan Ariely (Duke University) titled “A Beginner's Guide to Irrational Behavior”. So, let’s begin the journey of analyzing Sreesanth’s fall from grace. 

Healthcare cost: How much is too much?

My uncle, after undergoing a successful removal of tumor a few years ago, was recently diagnosed with abnormal growth of cancerous cells. It was a case of metastasis i.e. spread of a cancer from one organ or part to another non-adjacent organ or part. Thankfully the disease was manageable due to timely detection and availability of a suitable drug. As we move ahead I must clarify that in this blog, I am not focusing on the disease or its treatment rather the focus would be the cost of availing such healthcare services. Before I decided to write this blog post, I had a lengthy and animated discussion with one of my friend who has been working in the pharmaceutical industry for quite a few years. 

Framework for containing "Crime against Women"

The New Year is knocking on the doors and despite many negative occurrences in the past year, hopeful signs lie in store for the coming year. The hope stems from the fact that the youth has risen and they have shown appreciable calmness and intelligence despite being provoked by the politicians and the police. While the effort is commendable, unless some meaningful gains are achieved in this "fight against crime committed on women" (you may refer to these gains as “baby steps”, “low-hanging fruits”, “quick wins” etc.), it may end up being just another “flash in the pan”. 

Let us try to arrive at the solution of limiting such crimes or inhibiting the growth of such criminals. Without claiming or sounding like an expert on this topic, I think we can divide the life-cycle of a criminal into two parts i.e. pre-crime and post-crime. For the sake of simplicity, we would limit the criminal life-cycle till the final sentence has been awarded. Also, we would focus on “crime against women” though I feel this framework can be extended to other types of crime as well. As outlined in the exhibit below, the post-crime part can be further sub-divided into three stages, Excused, Pro and Trial.  

Nepal: In turmoil or in transition?

During the early part of the last month, I happened to visit Kathmandu for one of my consulting assignments. Given that Kathmandu has been one of the major tourist destinations and there has been some mystery attached with the Himalayan Kingdom, I was excited about this trip. As it was more than a week long trip, my stay over there did help me experience different facets of Nepal.

Mr. Prime Minister, I will try my level best

A couple of hours ago, I happened to watch our Prime Minister, Dr. Manmohan Singh, address the nation. Given the spate of criticism faced by the government in the wake of corruptions and controversial reforms, the public at large felt an address to the nation was long due. Even his self-proclaimed “khamoshi” (silence) that was meant to save the “aabroo” (dignity) of the corruption laden nexus of corporates and politicians, wasn’t successful at all.

These are some of my observations from the PM’s address to the nation. Before you proceed, I would request you to either go through the text of the speech or the video so that we can have a more meaningful discussion.

Five major challenges faced by Indian startups

One keeps coming across conversations that focus on when would India provide or start producing the next Googles or Facebooks? After all, many Indians have played a key role in turning the Silicon Valley as the global innovation- hub. While nobody may have a conclusive answer to the question posed above but nevertheless many startups have recently emerged in India, especially in the field of internet commerce.

Despite frenetic activities (by the Indian standards) on the startup scene, it hasn’t been a smooth ride for the entrepreneurs. In this blog I will focus on major challenges being faced by startups in India. I have tried to incorporate views of some of my friends who did give entrepreneurship a try. While some of have them have returned to become private naukars again, others are still part of the former breed.

How to clean the IPL mess?

A lot is being said about IPL nowadays so I thought why not join the bandwagon. After all, IPL which was supposed to be a mix of cricket and glamour, has instead become a topic taking black money, conflict of interests, match fixing, abuse, molestations too into its fold.

As is the case (discussed in one my earliest post as well) that those who run the IPL i.e. organizers (IPL committee), the regulators (read BCCI but don’t ask me if they are too different from the IPL committee) and the sponsors (including the advertisers, broadcasters and team owners) are too intertwined and thus this combination has become just “Too big to fail”.

Identify your "Consultant Type"

Consulting as a profession has been growing steadily with more and more firms setting their base in India. Consulting landscape has also been helped by maturing of Indian business set-up as well as growing popularity of professional courses like MBA. But joining a particular industry, sector or a profession, is just the beginning. After all, our professional career could well span over 35 years. Similarly for consulting, while problem-solving skills, analytical capability and a consistent academic record may help you join a good consulting firm but it doesn't ensure that you would enjoy your stay as well.

As I complete my first year in consulting, I have tried to come up with a framework, based on one's interest areas, to suggest what lies in consulting for him/her. I have tried to simplify it by using two major focus areas and I would once again reiterate that it doesn't talk about the capabilities that you need to excel as a consultant.

Three types of Primary Interviewees that Consultants come across

As they say, consultants are not scientists; they largely thrive on collective wisdom. And one of the major sources of this collective wisdom is “primary interview”. By primary interview, I mean the one-to-one interactions that you have with people who may be SME (subject matter experts), competitors, customers or other stakeholders. I must say that these primary interviews have been one of the most reliable sources of information for me especially with the secondary data sources being inadequate or simply unreliable.

In this post, I will discuss three types of interviewees that I have come across quite often during my exposure to consulting. Surprisingly, I have come across at least one of each type, during each of my project. I will also try to come up with recommendations that may help you ace the interview or make the most of it.

Coke opens Citra: Strategic or a shot in the dark?

I must say that I feel a bit nostalgic writing this post. I still remember, it was one my birthdays almost 2 decades ago (yeah I am getting older) when I sipped “Citra”, a new flavored soft drink for the first time. While I don’t recall tasting the clear drink in green bottle too often after that but I was surprised when I heard that Coca-Cola plans to revive Citra after 19 years. This move once again reaffirms the fact that it’s neither easy to create a brand nor easy to kill one especially in FMCG sector.

Telecom Industry: 3 cheers to 2G verdict?

So, finally the cat is out of the bag. Through a drastic as well as unprecedented judgment,   the Supreme Court has cancelled all the 122 2G licenses issued in January 2008. Some may say that the crook corporates got what they deserve, whereas others might say that it wasn't fair to paint everybody with the same brush. Let’s try to discuss the major fall outs of this landmark judgment.

Rupee Depreciation: There are lessons to be learnt

Rupee, our very own Indian currency, has witnessed a literal free fall especially in the past few weeks. The rupee slid 15.8% in 2011 and by 0.2% in the last week of 2011 to 53.065 per dollar in Mumbai, according to data compiled by Bloomberg. According to reports, this currency weakened the most in Asia this year. So, what has led to such weakening or should I say, depreciation of the rupee and what does it entail for the Indian economy? Let’s explore this interesting and crucial topic that has the potential to shape the future of Indian economy. After all, an appreciating currency makes a country's exports more expensive and imports cheaper in foreign markets whereas the reverse makes a country's exports cheaper i.e. more attractive and its imports more expensive in foreign markets. 

Five common challenges that Consultants face in India

The idea of penning this blog came to my mind, when I decided to take stock of my short but eventful stay in consulting. At the start of my consulting career, I got to interact with a few US based partners or principals (as they call them over there) and it gave me some insights about how consulting works in the US. My further interactions with Indian clients and colleagues tells me that India is different from its foreign counterparts. In this post, I will focus on five major challenges that consultants usually face in India. Before igniting the discussion, I must say that the list is not exhaustive and the challenges may differ based on the consulting firm one is associated with.  

FDI in retail: "Modern" solutions to "old" problems?

The government of India is patting its back as by the passing of the much awaited "FDI in multi-brand retail", some experts believe that the reforms are back on track. In this blog, I don’t intend to discuss the criticality of the reform rather my focus will be on the efficacy of this reform. With the issue increasingly being politicized across the nation, let’s try to see whether this reform really aims at solving issues esp. inflation, which a common man faces. Will the benefits percolate to aam aadmi or will, once again, the crème-de-la-crème in the metros only share the spoils?

Interest rate hikes: Has the time to apply brakes arrived?

The RBI interest rate policies despite evincing lots of interest have become predictable off-late. Given the fact that the last 13 revisions have resulted in rate hikes, there is an understandable gloom associated with it. Our personal loans are getting costlier, buying your dream home isn’t easy, budding entrepreneurs have seen the cost of capital head north etc. Before we discuss further, let’s first try to understand the rationale behind these rate hikes by RBI. 

The policy being referred to is “Monetary policy” by which the monetary authority of a country like RBI, controls the supply of money by controlling interest rates; monetary base and reserve requirements. The policies are designed keeping in mind, the rate of economic growth, inflation, unemployment or exchange rate. The current RBI policy also referred to as contractionary policies, seeks to address the high inflation levels in India by suppressing demand. The rationale is that higher interest rates would lead to less borrowing thereby reduced investments and demand for capital goods. In addition, higher interest rates will also lead to people saving more thereby reducing consumption i.e. demand.  

Seems logical and sound, isn’t it? It is, but empirically it has been established that monetary policies are effective in targeting price stability, exchange stability and financial stability in short term or at best medium term. The Reserve Bank has so far, hiked its key policy rates 13 times, totaling 350 basis points since March 2010 i.e. the hike has been continuing for more than 18 months.  

The positive side of "Rs. 32"

The Planning Commission of India finds itself in a spot after submitting before the Supreme Court that the poor are those who, per day, spend less than Rs. 25 and Rs. 32 in rural and urban areas, respectively. While it’s always debatable whether the right methodology has been adopted or how valid these numbers are, but this "Rs. 32 debate" does have some positive significance as far as our macro policies are concerned. Let’s discuss the two major ones.