The healthcare sector of India is expected to grow to about Rs. 20,013 billion by the end of 2022. It is growing at a Compound Annual Growth Rate (CAGR) of 16%. One of the primary reasons behind this progress is the development of the medical tourism industry in this country. Patients from across the globe are visiting this country owing to the excellent treatment procedures that the healthcare sector offers.
It serves as an excellent opportunity for medical professionals to expand their patient base. The easy availability of professional loans from various financial institutions also can help significantly to fund the required actions to increase patient base.
Here are a few steps to build a profitable medical practice and expand your reach among the patients.
- Invest in technology
Implementing in technology can enhance the experience for the patients and subsequently help you to expand your client base. An Electronic Health Record (EHR) system is an effective patient queue management and software solution that will offer convenience to the patients. If you incorporate an EHR) system in our operations, you are likely to manage digital records, schedule app
ointments, and send reminders to the patients effectively.
Also, if you develop a mobile application, you are likely to stand out from the rest of your peers. You can use such platforms to provide solutions to the issues prevalent in the healthcare sector and informing patients regarding any services you start.
Furthermore, you can develop the app to schedule appointments. Patients can easily book an appointment with the help of a few clicks and avoid the long waiting time in a clinic.
However, implementing such technologies can come with huge expenses. The easy availability of professional loans from various financial institutions can help you in this aspect. Lenders offer a high loan amount in case of such credits, which will be sufficient to fund the required expenses of implementing such technology.
NBFC’s like Bajaj Finserv offers Loan for Doctors with a credit amount of up to Rs. 32 Lakh, along with a plethora of other benefits.
They also provide pre-approved offers on such loans to reduce the time taken to avail such credits and to make the process straight-forward. These pre-approved offers are also valid on a plethora of financial products of services including home loans, business loans, personal loans and more. To check your pre-approved offer, you are required to submit a few essential details like your name and phone number.
- Improve infrastructure
The healthcare sector is in a constant phase of development. New-age technologies and equipment and procedures are developed each day to provide quality treatment for the patients. If you are aiming to expand your client base, improving the infrastructure and upgrading your medical equipment can help you significantly.
The required funds can be easily availed from the various sources of business finance, which allows you to improve the infrastructure of your clinic without straining your business capital.
- Enhance your online presence
Being a digital doctor today can be of a massive significance. There are various mHealth platforms that help a doctor to keep in touch with their patients. Patients can book appointments on specific platforms. It ensures that doctors can diagnose their patients according to their convenience. Also, they can conduct regular follow-ups on such platforms effectively. It ensures that you can expand your reach beyond your vicinity.
Furthermore, if you have a website, try to engine optimise it. Patients will be able to find your service easily online with such optimisation. Also, you should try to increase patient engagement from your side. Answering the questions online can help you to establish your clinic as a reputed brand in the niche and increase your client base subsequently.
You should be able to expand your client base with the help of the steps mentioned above. However, ensure that you avail the professional loan so that you can conduct the steps without straining your business capital.
Rohan is a blogger and financial adviser. He has been serving society as a financial adviser for past 6 years. He has amazing solution for every finance related query. He shares his financial tips and tricks on Greetings of the Day.