Transasia Bio-Medicals Ltd.

We often tend to compare the prices of the diagnostic tests, prescribed by Doctor. This article is intended to convey something as complex as the diagnostic ecosystem and end user pricing in as simple a manner as possible. There are quick reactions when information about raw material pricing of diagnostics are shared in media reports comparing it to the price an end user pays for the same. Nothing can be farther from the truth, as pricing of tests by labs and hospitals are influenced by multiple factors which tend to vary significantly. Like with most services, there will be a huge variation depending on the location and other factors. It is important to raise this awareness and correct the misconception of the general public. I am listing most of the factors (not all and by no means exhaustive) that are behind the price variation in diagnostic tests across locations in India: Location - Real estate costs vary hugely across India and these variations are significant...

In the first edition of this blog, we evaluated the impact of EDL on the healthcare system. The Indian IVD manufacturers have an important role to play along with the health ministry to ensure that EDL truly benefits the patients at large. In this concluding series let us evaluate the same: In addition to the healthcare sector, an EDL will also have a significant impact on the IVD manufacturing industry: An EDL, by listing country/region specific needs, could help develop target product profiles (TPPs) . A TPP provides details on the minimum and optimal performance and operational characteristics of priority diagnostic tests. Researchers and manufacturers use TPPs to ensure that R&D activities are focused on relevant products to meet the needs of end users. Moreover, an EDL is prepared taking into consideration, target users, intended use, infrastructural requirement, sample type and volume, sample handling, performance, diagnostic testing algorithm, etc. Thus, an IVD ma...

Relationship marketing encompasses strategies beyond the traditional transactional sales. It's exciting to see how businesses are now focusing on giving their customers 'more' than they have asked for! Touching consumers in a unique way and sparking emotions is more than relevant today. “Work with your head but also take your heart along”, I have come to believe in this ideology over the years. A customer will always buy from a brand that meets his expectations of ‘how’ they are treated and not by ‘what’ they are offered. This is what Relationship Marketing is all about! It starts with making your customer, your partner. Building a long-term and sustainable relationship is at the root of customer retention. And that is possible only when you are in constant touch with your customer, as it will help in identifying how he works, his needs & preferences and how you can make a difference. This will prepare you to serve customers faster and quite possibly even befo...

From offering freebies to forming an emotional connect, there are various approaches companies are adopting to woo customers. The medtech industry too is soon catching up, albeit within its own confines In the wake of the recent regulatory and tax reforms, it is interesting to see how the Indian Medical Device Industry is undergoing transformations. Factors such as focus on preventive health, government support, prevalence of diseases and emergence of new markets, have given a boost to the industry and led to stakeholders exploring new avenues in product promotion to withstand the stiff competition. As the President of Sales, Marketing and Services at India’s Leading In-vitro Diagnostic Company, I thought this is an apt time to bring forth our take on what is driving the marketing of Indian IVD Industry. Age-old methods of promotion, such as customary sales visits, exhibiting in trade shows, KOL meets and leave behind literature have been great marketing tactics that ha...