Healthcare consultant Vishal Tyagi shares roadmap for launching successful hospital ventures in a competitive market | File Pic (Representative Image)
Lucknow: According to Vishal Tyagi, a brand marketing and communication consultant with over 18 years of experience in healthcare, opening a new hospital requires thorough planning and a feasibility study. He emphasized that the healthcare sector, once seen as a noble service, is now a competitive business, and many new ventures fail due to a lack of proper preparation.
Location Choice Can Make or Break Hospital Project
Tyagi recommends starting with a strategic location assessment. This includes choosing an area with low competition and affordable land prices to avoid heavy financial burdens early on. It is also crucial to identify the prevalent health issues in the region and define the primary and secondary catchment areas.
Licensing and Accreditation Must Be Prioritised Early
After the location is finalized and construction begins, which typically takes at least a year, the focus should shift to obtaining necessary licenses, such as the CMO license, pollution certificate, and BMW certificate.
TPA Tie-Ups Vital for Cashless Transactions
Tyagi also stressed the importance of partnering with all major TPAs (Third-Party Administrators) for cashless transactions, as these now account for a significant portion of a hospital’s business. He advised that building trust takes time and that new hospitals should be prepared with a budget to sustain operations for at least three years.
