The Economics of Prevention: How Investing in Health Screenings Reduces Long-Term Costs.

The Cost of Health : Balancing Quality & Affordability

In the hustle of modern life, health often takes a backseat. But trust me, prioritizing regular health checkups can save us from future troubles. Whether you're monitoring a condition or just being proactive about your well-being, diagnostic tests are crucial.

When one thinks of diagnostic tests, two questions that run through our mind is Where? And How Much? If I have to simplify it; it reads … “Where should I get my tests done from?” and “How much would these tests cost?”

The above questions, however simple they may seem, the answer isn't so simple or straight forward. Today, an individual may have more than 20 different options to get these tests done from with an added choice of walking to a nearest centre or availing home visit as per your preferred day & time. The cost of the tests may also varies from ‘X’ to ‘1.6X’ depending upon the brand and the locations you are getting these tests done from . Hence, it becomes imperative to balance the quality & affordability of diagnostic tests!

Finding The Balance

According to a report published by a renowned medical research firm, healthcare costs in India are expected to rise by 13% in 2025, higher than the global average of 10%. There are several factors that contributes to the rising inflation in healthcare segment and hence the key to managing healthcare costs lies in establishing a balance between quality and affordability. In such scenario, right pricing strategy plays a pivotal role in capturing market share. The perceived value of a test or a package has to be more than the amount being paid by the customer, at the same time the cost we incur for processing the test has to be well within permissible limits to make business viable in the longer run as every penny saved here directly flows to your bottom line. 
 

‘A Catch-22’ Business Call

On an average, Customer Repeat Rate (CRR) of 30% is widely accepted across industries including healthcare. Also, there have been researches which shows a repeat customers ticket size is 25%-30% higher compared to new customers; Industry wide, average Customer Acquisition Cost (CAC) should be 0.3X of a customers spending (X). In their quest to retain a customer and have a higher life time value (LTV), Organizations end up offering a bouquet of add-ons at literally no extra cost. These offerings may bring the WOW factor for the customer but it can erode an organizations bottom line. One such offering in healthcare is proposing a Full-body health check package with far more parameters in almost the same cost as that of individual smaller profiles. For a customer, it’s a no-brainer to opt-in for package as the cost is same, but is it really a wise move for the brand? Well, I would say it’s a catch-22 situation if we weigh sales & profitability. Whilst an organization bears the cost of few add-on tests offered as a part of the package, herein also lies an opportunity to strengthen our relation with the customer by showing the value benefit. I would say, its okay to take a small hit on bottom line in lieu of promoting wellness and inculcating practice of regular preventive health check which is beneficial to our consumers in the long run. 

It’s also worth noting that partnerships between healthcare providers and insurance companies can play a very important role in balancing cost and quality. We can work together and create solutions that make healthcare more accessible and affordable for everyone. 
 

The Roadblocks

However, achieving this balance isn’t always as easy as it may seem. One has encountered numerous situations where despite best efforts, the cost of certain tests or treatments remains high. In such cases, I believe it’s important to explore all available options, including seeking financial assistance or payment plans to help reduce the burden on patients. This can be achieved by a transparent pricing policy. I’ve always believed that patients should be aware of the costs involved in their care upfront and it helps them make informed decisions and reduces the financial anxiety associated with healthcare.

Concluding my thoughts, balancing quality and affordability in healthcare is a complex but essential task. There are several measures that can be worked upon to make healthcare more accessible and affordable. It’s a collective effort, and all caregivers in the Health domain should be committed to being part of that solution.

About The Author

Dr. (Capt.) Sandeep Sharma is a prominent leader in the healthcare industry, renowned for his expertise in brand development, strategy, and business transformation. He has successfully launched and expanded several notable healthcare brands in India, including Manipal HealthMap, Axiss Dental, Manipal Fertility, Manipal Hospital Dwarka, and iGenetic. A Harvard Business School alumnus, Dr. Sharma frequently shares his insights on entrepreneurship, mergers and acquisitions, and customer-centric approaches in healthcare.

Quantum Computing in Diagnostics: The Future Closer Than You Think

As a leader in healthcare, I’m constantly asking: What’s next? What breakthrough will transform the way we diagnose and treat patients—ensuring care is not just faster, but more precise and personalized?

One answer, I believe, lies in a technology that has long felt like science fiction: quantum computing.

Quantum computing represents a paradigm shift, not just in computing but in how we address challenges previously deemed insurmountable. For healthcare diagnostics, the implications are profound, offering possibilities that could revolutionize patient care and redefine the very foundation of medical science.

What Makes Quantum Computing a Game-Changer?

Traditional computers operate sequentially, processing data in a linear manner. Quantum computers, on the other hand, exploit the principles of quantum mechanics—superposition and entanglement—to perform calculations in parallel. This means they can process and analyze an exponentially larger set of possibilities in a fraction of the time.

Let me illustrate: Imagine solving a maze. A classical computer explores one path at a time, step by step. A quantum computer, however, explores all possible paths simultaneously, identifying the shortest route instantly. Now, apply this concept to diagnostics—analyzing genetic, imaging, and biochemical data in ways we’ve never thought possible.

Quantum Computing in Action: Transforming Diagnostics

The potential applications of quantum computing in diagnostics span a wide spectrum. Here are the most impactful ones:

1. Hyper-Early Detection of Diseases

Current diagnostic tools often detect diseases once they’ve reached advanced stages. Quantum computing could change this by identifying patterns in vast datasets — combining genetic predispositions, lifestyle factors, and environmental influences.

For example:

i. Cancer Detection: Recognizing cellular anomalies at the earliest stages, long before they become detectable by current imaging or blood tests.

ii. Neurodegenerative Diseases: Spotting subtle changes in biomarkers associated with Alzheimer’s or Parkinson’s, offering the chance for earlier interventions.

2. Unraveling Complex Biological Systems

Human biology is incredibly intricate, with millions of interactions occurring simultaneously at the molecular level. Quantum computers can simulate these interactions in ways classical computers cannot, providing insights into diseases like:

i. Rare Genetic Disorders: Mapping the impact of mutations across entire systems to better understand their effects.

ii. Protein Folding: Solving the mysteries of how proteins misfold—a key factor in diseases such as Huntington’s and certain cancers.

3. Advancing Personalized Medicine

The future of diagnostics lies in precision medicine—tailoring treatments to individual patients. Quantum algorithms excel at integrating diverse data sources, such as:

i.  A patient’s genome.

ii. Their medical history.

iii. Environmental and lifestyle factors.

This integration allows for recommendations that are not just effective but uniquely suited to each patient, minimizing side effects and improving outcomes.

4. Medical Imaging Revolution

Quantum systems can vastly improve the resolution and accuracy of medical imaging techniques like MRIs, CT scans, and ultrasounds. Enhanced imaging could reveal micro-level details, enabling faster and more accurate diagnoses of conditions ranging from cardiovascular issues to bone fractures.

Three Pillars of Quantum’s Impact in Diagnostics

1. Speed:
Diagnostic processes that currently take hours—or even days—could be completed in seconds. Imagine an emergency room where a quantum-powered system analyzes a patient’s bloodwork in real-time, guiding critical decisions instantly.

2. Precision:
Quantum systems can analyze patterns that classical systems overlook, drastically reducing false positives and false negatives. The result is a level of accuracy that could redefine the gold standard of care.

3. Accessibility:
While quantum computing is currently an expensive frontier, its efficiencies hold the promise of making advanced diagnostics affordable and widely available. This aligns with the broader goal of equitable healthcare access.

Overcoming the Challenges of Quantum Computing

Every revolutionary technology faces hurdles in its early stages, and quantum computing is no exception. Challenges such as scalability, error correction, and operational costs remain. However, history reminds us that progress often emerges from perseverance.

i.  The first microscopes were rudimentary, yet they paved the way for modern biology.

ii. The first CT scans were slow and costly, yet they revolutionized imaging.

The same trajectory awaits quantum computing. With global investment and interdisciplinary collaboration, these challenges will become stepping stones to its full potential.

What This Means for People

Technology, no matter how advanced, is ultimately about people. Quantum computing’s promise in diagnostics isn’t just about faster systems or bigger datasets—it’s about transforming lives.

ii.   For patients, it’s the relief of getting a diagnosis faster and more accurately.

ii.   For doctors, it’s the confidence to make decisions with greater precision.

iii.  For researchers, it’s the tools to finally crack the codes of diseases that have long eluded solutions.

Let’s Build This Future Together

The quantum revolution in diagnostics is not just near—it’s inevitable. As leaders, innovators, and collaborators, we can shape its trajectory. This is the time to think boldly, invest wisely, and lead with vision.

I invite you—my colleagues, peers, and partners—to join this conversation. Share your thoughts, your aspirations, and your ideas. 

The future of diagnostics is closer than we think. Let’s embrace it.

About the Author :

Dr. (Capt) Sandeep Sharma is the CEO of Manipal HealthMap, which owns and operates under the brand Manipal TRUtest, A champion of Healthcare having successfully executed the conviction in establishing multiple healthcare brands across geographies i.e. Axis Dental, Manipal Fertility, Manipal Hospital Dwarka, iGenetic, and Now Manipal HealthMap in India. The journey has entailed a deep knowledge of all aspects i.e. Brand building, Strategy, Supply chain management, Nurturing teams on the Profit Centre concept, Thorough financial management, Geographical diversity, Business positioning, Blending Technology, and Brownfield acquisitions to mention a few.

Was a member of the FICCI task force on "Costing in Healthcare".

A regular speaker on various forums on topics ranging from Harnessing Entrepreneurial Opportunities in Healthcare, Franchise in Healthcare, HR challenges in Healthcare, etc.

The Future Of Diagnostics: Predictions And Trends In The Diagnostic Field From The CEO’s Viewpoint.

Diagnostics play a very important role in early detection. It helps in accurate diagnosis, and effective treatment of various health conditions. Today, I want to share some insights into the future of diagnostic medicine. We will also talk about the trends that are poised to revolutionize healthcare.

Focus on Precision Medicine

The future lies in personalized medicine. It is also known as precision medicine. This approach customizes diagnostic tests and treatment plans to an individual's unique genetic makeup and health profile. 

Precision medicine has significantly advanced the treatment of breast cancer. For instance, genetic tests like the Oncotype DX test analyse the expression of certain genes in breast cancer tumours. This test helps predict the likelihood of cancer recurrence and guides decisions about whether chemotherapy is necessary. By tailoring treatment based on these genetic insights, patients receive therapies that are specifically suited to their cancer’s characteristics, which can improve outcomes and reduce unnecessary side effects.

Artificial Intelligence (AI) in Diagnostics

AI-powered algorithms can analyse large datasets of medical images and patient data, aiding doctors in faster and more accurate diagnoses. For example, studies have shown that AI tools, like those developed by Google Health and IBM Watson, can analyse MRI and CT scans to detect abnormalities such as brain tumours and lung cancer with higher precision and faster turnaround times than traditional methods. These AI systems help in identifying subtle patterns that might be missed by human eyes, leading to earlier detection and more effective management of diseases. 

AI is rapidly transforming diagnostics, impacting two main areas: computer vision and large language models.

1. Computer Vision: This technology enhances radiology by detecting lesions that might go unnoticed during routine workflows. AI can identify lung nodules, brain bleeds, and fractures, and analyse chest X-rays and MRI brain scans with precision. These advancements save radiologists significant time and improve diagnostic accuracy, allowing for quicker and more accurate patient care.
2. Large Language Models (LLMs): LLMs are speeding up the creation of radiology reports. These AI systems can quickly generate detailed and accurate reports, allowing radiologists to focus on more critical diagnostic tasks. By automating the report-writing process, LLMs ensure consistency and precision, ultimately leading to better patient outcomes and more efficient healthcare delivery.

Integration with Wearable Technology

Wearable devices such as smartwatches and fitness trackers are becoming increasingly popular, and they collect a vast amount of personal health data, including heart rate, sleep patterns, physical activity, and even blood oxygen levels. Integrating this data with diagnostic tools and electronic health records can offer a comprehensive view of a patient's overall health and well-being.

For example, data from a smartwatch can be combined with regular medical check-ups to monitor long-term trends in heart health. If a wearable device detects irregularities in heart rate or unusual activity levels, this information can be flagged for further investigation. Such integration allows for the early detection of potential health issues, such as cardiovascular conditions or sleep disorders, before they become serious problems. This proactive approach enables healthcare providers to implement preventative measures and personalized treatment plans based on real-time, actionable data.

Moreover, the continuous monitoring offered by wearables helps doctors track the effectiveness of ongoing treatments and adjust them as needed, enhancing patient care and outcomes. By leveraging the insights gained from wearable technology, we can move towards a more connected and preventative model of healthcare.

At-Home Testing

Diagnostics are moving closer to the patient. Imagine a future where simple, portable tests can be conducted right at the doctor's office or even at home. This shift towards at-home testing allows for quicker diagnosis and treatment decisions, particularly beneficial in remote areas or for time-sensitive conditions.

An excellent example of this advancement is Point of Care (POC) testing equipment. POC tests, such as portable blood glucose monitors or home-based pregnancy tests, enable patients to perform diagnostic tests with minimal hassle and immediate results. These tests provide valuable information quickly, facilitating faster medical decisions and reducing the need for travel to a clinic or hospital.

At-home tests have become an integral part of the healthcare system, gaining prominence especially since the COVID-19 pandemic. Also known as over-the-counter tests, these are designed to provide convenient and immediate results from the comfort of one's home.

These include:

• Pregnancy Tests (UPT): Simple and reliable tests to determine pregnancy status.
• Card Tests: Used for various purposes, including:
  • Occult Blood Tests: For screening hidden blood in stools, often used in cancer screening.
  • Serology Tests: Rapid tests for detecting infections such as Hepatitis and other STDs.
• Rapid COVID-19 Kits: During the pandemic, these kits allowed for quick and convenient COVID-19 testing at home.
• Genetic Tests: At-home genetic testing for assessing risk propensity, where patients can provide samples such as blood, saliva, or swabs.

These tests not only facilitate early detection and management of health conditions but also enhance accessibility and ease for patients, particularly those with mobility challenges or those who live in remote areas.

Benefits for Patients

These advancements in diagnostic medicine offer a multitude of benefits for patients:

• Earlier and more accurate diagnoses
• Personalized treatment plans
• Less invasive procedures
• Improved preventative care

The Future is Bright

The future of diagnostics is brimming with possibilities. We are embracing these trends and advancements to empower healthcare professionals to make precise and accurate decisions. It is leading to better patient care and improved health for all.

ABOUT THE AUTHOR 

Dr. (Capt) Sandeep Sharma is the CEO of Manipal HealthMap, A champion of Health Care having successfully executed the conviction in establishing multiple health care brands across geographies i.e. Axis Dental, Manipal Fertility, Manipal Hospital Dwarka, iGenetic, and Now Manipal HealthMap in India. The journey has entailed a deep knowledge of all aspects ie Brand building, Strategy, Supply chain management, Nurturing teams on the Profit Centre concept, Thorough financial management, Geographical diversity, Business positioning, Blending Technology, and Brownfield acquisitions to mention a few.

Was a member of the FICCI task force on "Costing in Healthcare".

A regular speaker on various forums on topics ranging from Harnessing Entrepreneurial Opportunities in Healthcare, Franchise in Healthcare, HR challenges in Healthcare, etc.