Healthcare

Unlocking growth and innovation in India’s evolving healthcare sector

INTRO

India’s healthcare sector is experiencing rapid transformation, marked by increasing demand, innovation, and opportunities for growth. This dynamic sector encompasses a broad range of services, including hospitals, diagnostic centers, pharmacies, pharmaceutical, biotech, and medical device companies, as well as health insurance providers.

Driven by a large and growing population, rising income levels, and increased awareness of health and wellness, the healthcare sector in India is poised for exponential growth in the coming years. The integration of technology, such as telemedicine, the digitalization of medical records, and health apps, is helping enhance accessibility, improve efficiency, and enable better healthcare delivery across the country.

The Indian government is also playing a significant role by increasing healthcare spending, particularly in rural areas, implementing regulatory frameworks to reduce the cost of medicines and medical devices, and expanding insurance coverage through programs like Ayushman Bharat and state-specific schemes.

In conclusion, India’s healthcare sector is at a critical juncture, with immense potential for growth, innovation, and improvement, driven by both domestic needs and global healthcare trends.

OUR SERVICES

At Tandem Consulting Group (TCG), we offer extensive experience working with hospitals, healthcare providers, medical device companies, and other healthcare organizations. Our services are designed to support the development, efficiency, and growth of healthcare businesses, addressing the unique challenges and opportunities in the sector. Our services include:

  • Hospital Information Systems (HIS): Providing functional expertise for implementing and optimizing specific modules within hospital information systems, ensuring seamless integration of technology with healthcare operations to improve patient care and hospital management.
  • Accounts Payable and Vendor Management: Streamlining the accounts payable process with three-way matching of bills, validating payments, managing vendor help desks, and providing reconciliation of vendor statements of accounts to ensure efficient financial management.
  • Revenue Assurance: Implementing daily receivables and collections reconciliation, fraud detection measures, and bank reconciliation processes to ensure accurate and timely revenue flow, improving the financial health of healthcare organizations.
  • Accounts Receivable Management: Efficiently managing customer receipts, reconciling customer accounts, coordinating collections, reducing Days Sales Outstanding (DSO), and following up with Third-Party Administrators (TPAs) to enhance cash flow and reduce outstanding balances.
  • Compliance and Regulatory Advisory: Helping healthcare organizations navigate complex regulatory frameworks, ensuring compliance with health regulations, insurance policies, and government programs such as Ayushman Bharat and other state-specific schemes.
  • Medical Device and Pharma Regulatory Support: Offering guidance on regulatory requirements for medical devices and pharmaceutical products, ensuring compliance with national and international standards.
  • Telemedicine and Digital Health Integration: Supporting healthcare providers in adopting and optimizing telemedicine platforms and digital health tools, enhancing the accessibility and efficiency of healthcare delivery.

OUR APPROACH

At TCG, our approach to the healthcare sector is both comprehensive and client-centered. We work closely with our clients to understand their unique challenges and opportunities, providing tailored solutions that drive efficiency, improve patient care, and support growth in the evolving healthcare landscape.

  1. Industry Expertise: With extensive experience in the healthcare sector, TCG offers a deep understanding of hospital operations, medical device manufacturing, pharma, and health insurance. Our team brings specialized knowledge to help businesses optimize processes and meet the sector’s growing demands.
  2. Tailored Solutions: We recognize that each healthcare organization has its own set of challenges and goals. TCG provides customized solutions, whether it’s improving hospital information systems, enhancing financial processes, or supporting regulatory compliance. Our solutions are designed to help businesses achieve operational excellence and sustainable growth.
  3. Technology-Driven Transformation: Technology is a key enabler of growth in healthcare. We help healthcare organizations integrate and leverage technology, such as HIS, telemedicine, and digital health platforms, to enhance patient care, streamline operations, and improve overall service delivery.
  4. Revenue and Financial Management: Effective financial management is critical in healthcare, where margins can be tight, and billing complexity is high. TCG’s expertise in revenue assurance, accounts payable, and receivables management helps healthcare organizations optimize cash flow, minimize fraud, and ensure efficient financial processes.
  5. Regulatory Compliance: The healthcare sector is subject to stringent regulatory oversight, and compliance with evolving government regulations is a critical challenge. TCG helps healthcare businesses navigate these complexities, ensuring adherence to regulatory standards such as those set forth by the government’s Ayushman Bharat scheme, and helps reduce costs through regulatory frameworks.
  6. Improving Patient Care and Experience: Ultimately, the goal of any healthcare organization is to provide better care for patients. TCG’s focus on operational efficiency, technology integration, and financial management ensures that healthcare providers can focus on improving patient outcomes and service quality while maintaining financial sustainability.
  7. Rural Healthcare Development: India’s rural healthcare infrastructure remains a challenge, but also presents significant opportunities. TCG supports initiatives aimed at improving healthcare access in rural areas through technology integration, cost management, and partnership with local stakeholders.

At TCG, we are committed to helping healthcare organizations navigate the evolving landscape, address challenges, and seize opportunities for growth and improvement. Our expertise and tailored solutions ensure that your organization is well-positioned to meet the demands of a dynamic healthcare market while delivering exceptional value to patients.

INTRO

Healthcare is one of India’s rapidly growing sectors both in terms of employment generated & revenue.  This includes hospitals, diagnostic centres, pharmacies, pharma / biotech / medical devices companies & health insurance companies. 

Driven by the growing population, rising income levels & an increased awareness of health / wellness, the healthcare sector is poised for an exponential growth over the next decade.   Innovation and technology – telemedicine, digitalisation of medical records, health apps – help integrate tech with healthcare ensuring increased access & efficiency. 

Government has also been increasing spend on healthcare – especially rural healthcare, reducing cost of medicines & devices through regulatory frameworks & also expanding insurance coverage through Ayushman Bharat & other state specific schemes. 

To sum up, India’s healthcare sector is evolving with substantial opportunities for growth, innovation, and improvement, driven by both domestic needs and global trends.

OUR SERVICES

At TCG, we have extensively worked with top hospitals & medical devices companies. We can help you with 

  1. Hospital Information Systems – Provide functional expertise for specific modules
  2. Accounts Payable – 3–way match of bills, validation, payments, Vendor Help Desk, Vendor Statement of Accounts & Reconciliation
  3. Revenue Assurance – Daily receivables/collection reconciliation, Fraud detection, Bank Reconciliation
  4. Accounts Receivable – Accounting for Receipts, customer account reconciliation, customer collection follow up, DSO reduction, TPA co-ordination & follow up.

OUR APPROACH

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