A highly organized sector, the Indian pharma industry is estimated to be worth close to $5 billion, growing at about 8 to 9 percent annually and is ranked rather high in terms of technology, quality and range of medicines manufactured. Although it has expanded drastically in the last two decades, it is an extremely fragmented market with severe price competition and government price control. Given the competitive pharma market space, technology plays a critical role in helping streamline internal process and help companies stay ahead in the competition. Hospitals, clinics and managed health care organizations need to offset the burden of fixed premiums and growing costs with operational efficiencies that save money and help boost profits. A key area for improvement is the management of workforce resources. Health Care providers need to shift administrative tasks away from medical professionals and towards automated health care customer service systems or lower wage workers.
SaaS Leaders understands the need for pharma companies to keep and acquire customers, generate revenues and contain costs through an integrated process driven approach. Industry challenges include:
- Scaling up of companies, not only with respect to infrastructure but also manpower, is placing added strains on an industry already struggling to control costs. To meet the needs of a growing enterprise, health care providers need to do more with less.
- Technology service providers strive to help pharma companies shift administrative tasks from medical professionals to an automated customer service solution or lower-wage workers.
- Hospitals, clinics and managed health care organizations that need to improve operational efficiency and reduce costs in order to support profit margins.
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