Medequip Aims Reducing Healthcare Delivery Cost | SupportBiz

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Medequip Aims Reducing Healthcare Delivery Cost

 
As per the ‘Make-in-India’ Business Support Programme for German Mittelstand and Family Owned Enterprises, Indian medical devices industry is valued at 4.6 Billion EUR ((35,468 crores), and is expected to reach 8.6 Billion EUR (66,279 crores) in 2020. Suhas Shubhakaran, Co-Founder, Medequip Healthcare Solutions LLP, one of the leading company in the healthcare equipments space, in an exclusive chat for Support Biz, shares his company’s vision for reducing the delivery cost of healthcare. Edited Excerpts.

Support Biz: How is the market for the medical equipment’s in India

Suhas: Let us look at the real issue, according to World Health Organization’s data published in May 2014, Lung Disease Deaths in India reached 1,061,863 or 11.97% of total deaths. There is also an increase in lung and breathing disorders among the youth living in metropolitan cities due to an increase in pollution. These are the numbers from just Lung disease, a real problem that needs to be addressed.

Support Biz In this market, what is the sale-deciding factor? Either the manufacturing brand or the availability of the products at various levels or the physicians or other experts in the industry

Suhas: The purchase decision would be based on the quality, life of the product and the after sales service that the product comes with. The cost of ownership also has an impact. We are focused on making our products available across the country through our partners, our distributors & dealers.

Some brands do have a definite impact on the purchasing factor of certain devices, having said that, it’s primarily the dealer / point of sale who has the swaying power as the customer goes to them to purchase. Physicians are big influencers as most of the patients place their trust on the doctor’s recommendation.

SupportBiz: What are the key products you sell and what is your channel for selling this
Medequip’s Key Products are:

Suhas: Oxymed which covers Pulmonary / chest related ailments, with Oxygen Concentrators, and Nebulizers. Oxymed also has C Paps and BiPaps for Sleep therapy and Non Invasive Ventilation. Medemove which covers the mobility aids like Wheelchairs and walkers.
Medeswach for adult incontinence and hygiene issues.

We sell our products through a PAN India distributor and dealer network as it gives us a chance to educate them, and they in turn educate and provide the end users with adequate knowledge, immediate service or replacement in case of an emergency.

Support Biz: What is your view on the GST implemented for such product segments

Suhas: Implementation of GST has impacted the industry for good as the input duty has come down which reduced the prices of the products. The positive side of it is that the competition is even throughout India (before different taxing structure affected the sales of a certain product in certain states). Single pricing structure has given rise to a level playing field (fair competition). This has resulted in a drop in price for our customers.

SupportBiz: How affordable are your products

Suhas: Oxymed is very competitively priced; a best in class product. In fact we would like to say, some of the features like the inbuilt nebulizer, dual filter and a tamper proof digital timer is provided only by us. According to our partners, who have been in the industry for more than 15 years, we have attained a reputation for providing the best after sales service in the market.

In the event of a machine requiring service, we provide a standby so as not to inconvenience the customer.

Support Biz: What type of companies you are looking for partnership in India market

Suhas: Home healthcare service providers, Dealers and Distributors of Medical Devices. Even business owners exploring the health care market and also those who want to make a difference to their client base!

Support Biz: What are the margins you are providing for your channel-chain?

Suhas: Margins vary based on the range of products, their purchasing capacity, geographical locations etc..

Support Biz: What is your roadmap plan for your products?

Suhas: Medequip is dedicated / focused on providing the best healthcare products at affordable prices and make them easily accessible to all via our partner network.

Support Biz: Are you interested in manufacturing in India? If so, explain the plans

Suhas: Yes that’s the vision. The target is to reduce the healthcare delivery cost in the next 5-10 years to make it accessible to all. Domestic manufacture of customized indigenous medical devices will allow us to reduce end user costs.

Medequip and our principles are certain that we can capture this part of the world by setting up a manufacturing unit here and start exporting to neighboring countries. Our collaborators are working on a joint venture, to start manufacturing Oxygen Concentrators and Nebulizers in Bangalore and to this end we are open to more funding.

Assured purchase by government health facilities from domestic manufacturers will further help companies like us. We are focused on making our products available across the country through our partners, our distributors and dealers.