| Mr. Kunal Maske from EXL Services enlightened the students about consulting in the healthcare industry. He talked about the dilemma facing the medical industry today - whether we as a society should hold more value to doctors who help prevent diseases on a regular basis than ones who take payments for surgeries. It's a question of payment for value vs. payment for visit. Consultants today in the healthcare industry are helping make the change to a predictive/precautionary model using analytics. |
The three stakeholders of the healthcare industry are the patient, healthcare provider and the insurer. All three must be integrated with a single purpose of picking either prevention or operation as the more rewarded approach in healthcare. The U.S. government has taken steps in the direction to recognizing the contribution of prevention more than operation. These decisions are important ones for the healthcare industry and may signal far reaching consequences in the future. This was certainly one of those sessions with many takeaways. |
| Mr. Kunal spoke about the health care Industry in India and consultants play a role in it. He started off by talking about the Information Asymmetry in the health care industry where you have the severe lack of awareness among the Consumers. He spoke about how technology and the digital world with Phones and Cameras can bring in the convergence and help in sorting out the Information asymmetry. He also spoke about how there is too much of information available and the key is to ask the right questions to make correct inferences. 'Information Hoarding' is the term he used to explain how there is a lot of information available but not many right questions being asked about them. |
He then spoke about a sensitive issue of preventive care and why Governments around the world should use it. He spoke about how doctors can be given incentives to work on preventive care and how a 40 hour preventive work would be better than a 2 hour surgery. The Question and Answer session had some really interesting questions by the students. There were questions asked related to low penetration levels of Insurance in the rural market and there being hardly any players in that market except LIC. Questions related to changing norms in the US health care industry with the Obama Care and HIPAA where discussed as well. I found the session very knowledgeable and thoroughly enjoyed the session.
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Mr. Kunal Mhaske spoke about the relevance of big data in the business today. This simple fact had not sunk in before he dove straight into the world of health analytics and the business of it. He described 2 situations where, in one we have a doctor regularly helping to keep away diseases from happening and in the other we have a doctor charging per surgery to help remove the disease.
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He reflected that this is to some extent based on ‘Information Asymmetry”, which is the existence of more information with one stakeholder than the other. But he suggested that with the advent of better technology, the way in which all topics were weaved with the tinge of humour, worked wonders to keep us glued to the speaker's words. free flowing availability of a lot of data the balance of Information is tilting to equal proportions and reducing the Asymmetry that exists. |
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