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Follow on Google News | ![]() Medicines Dr Mukesh Batra to unveil the US$120 Billion Global MarketChallenges of Globalization of Homeopathic Medicines with the case study of Dr Batra’s exemplary performance & success will be the most watched keynote Address
Challenges of Globalization of Homeopathic Medicines with the case study of Dr Batra’s exemplary performance & success will be the most watched keynote Address Tuesday,24th December 2013, Mumbai, Maharashtra : According to World health Organisation, Homeopathy is the fastest-growing and second-most widely-used system of medicine in the world & no wonder the man in action at the 6th Annual Pharmaceutical Leadership Summit & Business Leadership Awards 2013 ( www.pharmaleaders2013.com ) organized by Network 7 Media Group’s media outfit Pharmaleaders ( www.pharmaleaders.tv ) is Asia’s most respected expert in alternative health, homoeopathy, is Dr Mukesh Batra will address the Pharmaleaders 2013 summit on Challenges of Globalization of Homeopathic Medicines. Dr Mukesh Batra, Chairman of Dr Batra’s positive health clinic is fast spreading its wings in global map Founded in 1982 by Dr. Mukesh Batra, Dr. Batra's Positive Health Clinic has come a long way today with 126 clinics spread across 64 cities in India, Dubai and UK. It provides state-of-the- To the credit of india & in an era of difficult times where the Indian pharmaceutical industry is facing an uphill task in the allopathic medicine, Dr Batra’s efforts are commendable but the real test lies in taking the brand to the global map specially to the developed market where regulators & price will be a major challenge. In an exclusive interview to Satya Brahma, Editor-In-Chief of Pharmaleaders, Dr Batra summed up briefly the major points of his key-note Address that of building India as a worldwide base of creating an ideal destination in Homeopathic Research. The World Health Organisation (WHO) has termed Homeopathy as the second largest system of medicine. According to US-based The National Centre for Homeopathy, by 2017 the Homeopathy market will be equivalent to the alternative healthcare market, which is Rs 52,000 crore currently. Challenges of Globalization of Homeopathic Medicines: Dr Batra’s Case Study My first dharm sankat when I started my practice in 1974 was how could I make money out of other peoples sufferings. A doctor was then seen as a healer, a family physician, a friend – even a match maker. This was more so in case of homeopathy. When the missionary bought homeopathy to India they set up many free clinics. These mushroomed over the years and together with a large number of amateur practitioners led to the belief that homeopathy was good for free. If you had to pay for it, you better consult a specialist. The early challenges as a start-up The number one challenge for us as a start-up was to legitimize homeopathy as a paid professional service. It has been said that, “The science of medicine is the art of healing.” It was thought that homeopathy was more an art than science - A hit and miss method that works for some, and doesn’t work for others.Second challenge was to correctly position homeopathy as a modern medical tool and to increase its acceptance. It was also believed that homeopathy works only with experience. It was a perception that you have to have white hairs to prescribe white pills.Third challenge was to change the fuddy duddy perception of homeopathy into a modern therapy practiced by young progressive doctors. Medicine gets easily outdated as new technology and even newer diseases make old knowledge irrelevant. During my time there was no swine flu, bird flu, aids, not even chickengunya. The next challenge came from the personalized and individualistic nature of homeopathy treatment. This imposes a growth limit since there are only so many patients that one doctor can handle. Thus, the fourth challenge was to professionalize the service and create a scalable replicable business that could work independently of me and reach economies of scale. The challenges of homeopathic entrepreneurship Organizational Matrix: I wanted to build an institution and institutionalize my practice of homeopathy so that my medical experience does not die with me, as people die but institutions outlive, evolve and grow. This proved a huge challenge and has taken me more than 10 years to build a strong organization that can not only continue the present entrepreneurship model in an auto mode but also be able to drive growth. The first mover disadvantage: Marketing gurus speak of a first mover advantage. But it can also be a disadvantage when there is no path to follow and you have to create your own path. The cost of experimentation is sometimes high and we learnt the ropes the hard way. It can be an expensive learning curve for the pioneer. Secondly, while we grow the market at our cost others copy and just move in Advertising: How much is too much: In an industry where word of mouth is the prime reason for decision-making by the consumer – advertising is not often well received. We sometimes hear people say, “They advertise so much, they must be making a lot of money, or if they can spend so much they must be very expensive.” Loosing trained doctors: Gone are the days when people would start and end their careers in one company. Undoubtedly, today, for any HR in the healthcare industry, retaining medical professionals is the major challenge. At Dr Batra’s the attrition rate of doctors is just 2 per cent. What keeps them back are great salaries backed by performance incentives, good working conditions, and 500 hours of CME every year and a watertight contract. Rentals in retail: All the retailers would agree that with property prices soaring at an unbelievable rate, it hampers our rent-to-revenue ratio, thereby making business unviable. End
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