DUBAI, U.A.E, April 20, 2021 /PRNewswire/ -- StratMed is one of
the largest data-driven, healthcare performance
improvement companies. It is unlocking the value of Planned
Consumption and Supply Chain Management for large hospital chains
in Asia. Having built one of the
largest and fastest growing healthcare demand and supply
aggregation networks, StratMed is now expanding its presence in
UAE.
The UAE Healthcare System has been at the forefront of providing
world-class medical facilities, establishing safety protocols and
stringent operating procedures for delivering quality care.
According to Global Soft Power Index 2021, UAE is highest ranked
nation across MENA – and 15th globally – on the COVID response
metric.
UAE's Private Healthcare Sector is showing signs of rapid growth
due to aging population, change in disease burden and growing
popularity as a preferred medical tourism hub. The positive growth
indicators on the supply side are emergence of medical universities
in Emirates coupled with Pharmaceutical Partnerships with US Majors
for setting up of manufacturing facilities in Emirates. However,
Cost of Quality Care Delivery still continues to impact Hospitals
and they grapple with challenges such as Pricing and Procurement
Regulations, Unstructured Medical Practices, Untapped Medical
Wastage and Limited Healthcare Infrastructure. As a consequence,
Cost of Healthcare is increasing at an alarming rate of 15% per
annum resulting in high out of pocket expenses.
With a proprietary data-driven, systemic approach towards
Intelligent Consumption Planning and Spend Management, StratMed has
been able to deliver cost savings for partner hospitals across
different categories:
- Quaternary care – 12-15%
-
- Tertiary Care- 13 – 16%
- Single-Specialty Hospitals– 10 - 13%
StratMed plans to enable similar efficiencies for hospitals in
UAE and plans to do so by leveraging Global Best Practices and
Benchmarking to address Healthcare needs that are specific to the
UAE region. StratMed aims to help hospitals in UAE reduce:
- Cost of Consumables (8-12% improvement with immediate
impact)
- Cost of Implants and Pharmaceuticals (6-10% improvement with
Mid Term impact)
- Formulary Design and Monitoring (5 – 8% improvement with Mid
Term impact)
- Wastage and Optimize Process (4-6% improvement with Mid Term
Impact)
"StratMed has partnered with reputed hospital chains such as
KIMS Health, Dr. Agarwal Eye Hospital, Dr. Rela Institute and
Medical Centres, Cloud Nine etc. delivering quality care to
patients across the globe.
Our teams work closely with the Clinical Teams at our partner
Hospitals to design effective formularies and move beyond
traditional "bulk purchasing". With a focus on Commercial, Process
and Consumption Optimisation, they ensure that Clinical Outcomes
are not adversely impacted due to a reduction in the Cost of Care
Delivery.
Our future plans include - setting up of a manufacturing base in
one of the UAE SEZs for white labelling Consumable Products;
onboarding 40,000+ Hospital Beds in UAE and India and managing purchase volumes to the
tune of USD 500 Million by end of
this fiscal. We are also looking to raise growth capital to fund
our growth plans and to further enhance our Healthcare Spend
Analytics Platform- INTEGER™," said Dr Sameer Ahmed Khan, Founder and CEO,
StratMed.
To know more, please reach out to:
Editorial Contact Information:
Archana Gandhi
Mobile Number: 7013063570
Email: archana@neurojava.com
Client Contact Information:
Sameer Khan
Mobile Number: 9811431503
Email: sameer.khan@stratmed.com
Website: www.stratmed.com
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SOURCE StratMed