Thursday, November 02, 2006
Chronic Diseases
Diabetes
ICICI Prudential Insurance has launched a product called Diabetes Care to provide cover to persons with Diabetes. To promote healthy habits the company has tied up with pharmaceutical companies to make insulin easily available to diabetics at discounted prices. And they say they will also charge discounted premiums to persons who take proper care of their health.
Interesting concept to target specific diseases, especially the chronic kinds, and this approach can be used across the board, by providers of various products and services. Let us take a look at some numbers.
For instance, the number of diabetics in India is estimated to be between 35-40 million, and growing at a rapid pace. Pharmaceutical companies that manufacture and sell insulin have already acknowledged the attractiveness of this market. Hospitals are also beginning to realize this (currently there are very few centers that focus on Diabetes Care, but more and more specialized centers are coming up) Home Monitoring equipment manufacturers have also gotten into the game early. And now we have an insurance company that is targeting the same group.
It would be reasonable to assume a large number of affluent diabetics who would be willing to spend money on products and services that help them manage the condition. Gyms and foot care centers readily come to mind. And I think that we will see a lot of action in this segment over the next couple of years.
And if Diabetics are targted thus, how long before persons with hypertension and dyslipidemia become the targets of interesting offerings. Watch this space
ICICI Prudential Insurance has launched a product called Diabetes Care to provide cover to persons with Diabetes. To promote healthy habits the company has tied up with pharmaceutical companies to make insulin easily available to diabetics at discounted prices. And they say they will also charge discounted premiums to persons who take proper care of their health.
Interesting concept to target specific diseases, especially the chronic kinds, and this approach can be used across the board, by providers of various products and services. Let us take a look at some numbers.
For instance, the number of diabetics in India is estimated to be between 35-40 million, and growing at a rapid pace. Pharmaceutical companies that manufacture and sell insulin have already acknowledged the attractiveness of this market. Hospitals are also beginning to realize this (currently there are very few centers that focus on Diabetes Care, but more and more specialized centers are coming up) Home Monitoring equipment manufacturers have also gotten into the game early. And now we have an insurance company that is targeting the same group.
It would be reasonable to assume a large number of affluent diabetics who would be willing to spend money on products and services that help them manage the condition. Gyms and foot care centers readily come to mind. And I think that we will see a lot of action in this segment over the next couple of years.
And if Diabetics are targted thus, how long before persons with hypertension and dyslipidemia become the targets of interesting offerings. Watch this space
Marketing Hospitals
Branding
A couple of years ago, the word Marketing when used in a conversation inside a hospital either evoked strong opposition (how can you talk about marketing in such a service oriented business like hospitals) or complete disregard (what is there in marketing-you send one guy who goes and meets all the referring doctors and offers them incentives to refer their patients to us).
Therefore news like the one in the Economic Times of the 30th of October comes as a breath of fresh air. Seems like the Sitaram Bhartia Institute of Science and Research wants to position itself as a boutique healthcare player and has roped in an agency to help with a brand makeover. Terms like Brand Profiles, Positioning and New Revenue Streams were used in the press release which makes me happy that even hospitals like the Sitaram Bhartia Institute have realized the importance of connecting with their customers. May their tribe grow.
A couple of years ago, the word Marketing when used in a conversation inside a hospital either evoked strong opposition (how can you talk about marketing in such a service oriented business like hospitals) or complete disregard (what is there in marketing-you send one guy who goes and meets all the referring doctors and offers them incentives to refer their patients to us).
Therefore news like the one in the Economic Times of the 30th of October comes as a breath of fresh air. Seems like the Sitaram Bhartia Institute of Science and Research wants to position itself as a boutique healthcare player and has roped in an agency to help with a brand makeover. Terms like Brand Profiles, Positioning and New Revenue Streams were used in the press release which makes me happy that even hospitals like the Sitaram Bhartia Institute have realized the importance of connecting with their customers. May their tribe grow.
