“Paras Healthcare works on the principle of bridging the gap. By providing exceptional medical expertise, infrastructure and technology to areas that lack the same, Paras is able to initiate a healthcare revolution in the rural areas,” avers Dr. Dharminder Nagar, MD, Paras Healthcare.
How has been the performance of healthcare sector in the country?
The present condition of the healthcare industry is far from sufficient. Although some ground has been covered, both by the government and the private sector, a lot needs to be done. We are far from fulfilling all the healthcare needs of the people, especially the poor and rural people. We have to find ways to reach out to them and also make healthcare more affordable to be effective in the Indian context. The most important aspect that needs attention is – Affordability, Accessibility and Quality. Problem of finding the right talent, in terms of doctors and nurses is one of the challenges. Finance is another issue that is plaguing the growth of the industry as a whole.
How have been the government initiatives in this regard?
The government efforts have been praiseworthy in some respect. There are about 26000 primary healthcare centres in the country and certain colleges and hospitals like AIIMS of very high repute. But a holistic approach by the government to address the healthcare challenge seems to be lacking. Even in terms of number of hospitals and hospital beds, a lot can be done by the government.
The private sector is bridging the gap left by the government sector but there again a lot needs to be done in a country as large as India. The private sector is bringing in the latest technology, trained manpower and high-end equipment. The private and the public sector can play an important role in plugging the gaps that exist, and the process is well underway. It is also important to understand that the public and the private sector need to work in cohesion. The government needs to definitely regulate the industry and at the same time support our endeavors.
How is Paras Healthcare aiming to change the business dynamics?
Paras Healthcare is a differentiator in the health industry today. We believe in bridging the gap and providing the community exceptional medical care. We aim at playing a smaller role in making the concept of healthcare for all a reality. The success of our hospitals is that we follow the motto of the organisation – Partners in Health. We believe in associating with the community at every level and standing by their side at times of need.
What are the expansion plans of Paras Healthcare?
The expansion strategy of Paras Healthcare has been broken into two Phases; Phase 1 is from 2015 to 2020 and Phase 2 is from 2021 to 2028. Expansion will primarily be in Tier 2 cities of the North Indian Hindispeaking belt. Our target is cities with a population of 2m+ that have a medical college. The focus will be on establishing tertiary care centers that focus on Oncology, Cardiology, Orthopedics and Neurology. These will evolve into specialized transplant centers.
By 2020, Paras Healthcare intends to establish tertiary healthcare facilities in other Tier 2 and Tier 3 cities too, to bridge the gap between demand and supply. Five years from now, we will have a bed strength of 2000. Partnerships with private and governmental organizations are in the offing.
How rife is the sector for PE investments?
External funding is imperative and helpful for growth. We have recently been funded for ?275 Crores and we have a clear focus for the utilization of the funds for our expansion. We see immediate opportunities in Uttar Pradesh and Jharkhand. We also want to add around 100-200 beds to our Gurgaon facility. The current PE funding scenario for the healthcare industry is quite positive as they understand and recognize the true potential of the industry as a long-term revenue generator and as an active participant contributing towards the growth of the nation and its economy.
How do you envision the future of healthcare sector in the years to come?
I see a lot of quality care and professionalism coming in. I also see technology playing a game changer role it the healthcare sector. There are lot of analytics that can be applied with technology for the betterment of the patients and healthcare delivery. We shall definitely witness a change in the pricing with healthcare becoming more affordable, accessible to the common man. More than the technology, we shall witness a sea change in the financial instruments employed. We shall witness an increase in insurance and a spurt in other models that reduce the healthcare burden on the common man.
UP, CLOSE & PERSONAL
How do you keep yourself healthy & fit?
I regularly exercise and lead a balanced life. My routine consists of going to the gym, playing cricket with my nephews and not leaving any opportunity to travel. My diet is also balanced and I try not to overload my system.
How do you keep your employees motivated?
I believe in empowering my employees. Until and unless one doesn’t feel comfortable, they will not be able to perform and contribute. The other aspect is ownership – after all – with great powers comes greater responsibility. The minute you empower your employees, they become the gears who propel your organization to success. The last and the most important aspect is to appreciate. A simple nod and an appreciation can go a long way.
What’s your leadership style?
I think I shall classify myself as an ‘Activator’ – an activator of change and an initiator. I like to keep my goals clear and work with teams to overcome the same.
What’s success, according to you?
Success, according to me, is making a difference to the lives of the people and an acknowledgement of your contribution to the masses. Through my small contributions, I aim to be an active participant in bridging the healthcare gap.
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