Challenges in Globalization of Homeopathic Medicines: Dr Batra’s

Case Study – By Padma Shri Dr Mukesh Batra

L.C.E.H., F.H.M.A. (U.K.), F.R.S.H. (Med) P.(Lon), M.D.H.(U.S.A.), F.B.I.H.(U.K.)

Founder & Chairman Dr Batra’s Group Companies

Legitimizing Homeopathy as a paid, professional service

Positioning it as a modern medical tool and increase it’s acceptance

Changing the fuddy duddy perception of homeopathy into a modern therapy practiced by young progressive doctors:

Professionalizing the service and creating a scalable & replicable business model that could work independently of me and reach economies of scale

Early challenges as a startup

Moribund Science Advanced Medical System

Retired Practitioners Young Qualified Doctors

To build an institution and institutionalize my practice of homeopathy so that my medical experience does not die with me - 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

Training doctors despite risk of breakaway factions

Rentals in retail

Advertising, marketing & brand building

The challenges of homeopathic entrepreneurship

The scalability challenge Achieve standardization

InfrastructureServicesMedicinesTreatment

Introduce Processes & SystemsUse technology & Innovation

Blister packing of medicines m-health to enable patients to get treatment through their mobileTele-Homeopathy Clinic to facilitate doctor-patient interaction through video-conferencing for consultation or a second opinion across various geographiesOperational Excellence using ERPUsing modern technology to measure outcomes of the treatment Pioneered the use of Internet to treat patients online

Remain customer centric. Track and record customer satisfaction and respond to it

Customer satisfaction – Customer delight – Customer advocacy

Maintain professional and financial transparency

Establish measurable KRAs forBusiness resultsInternational protocols to get better treatment outcomesCustomer Satisfaction

The scalability challenge

The global homeopathy market

• Homeopathy is 2nd largest system of medicine in the world – WHO• It is practiced in over 80 countries • Global market – Rs 26,000 crore (estimated at Rs 52,000 crore by 2017)• Indian market - Rs 2758 crore• France market – Rs 2540 crore• Germany market – Rs 1693 crore• UK market - Rs 332 crore• US homeopathy & herbal remedies market – Rs 39,000 crore

The Globalization Challenges

Developing International partnership

Managing distance & time zones

Managing crisis situations

Financial challenges

Following stringent regulatory norms

Future Challenges

Retail health

Self medication

Information available on Internet

Corporate citizenship & Corporate Responsibility

50 free clinics in IndiaAround 20,000 patients treated every month free of costCSR activities

The aim of medicine is to prevent disease and prolong life, the ideal of medicine is to eliminate the need of a physician - William James Mayo, founder of Mayo Clinic

Thank You