Healthcare Technology and Healthcare Services Companies ( Small and Medium Enterprises)
As a founder of a healthcare technology or healthcare service organization with revenue of more than 20 lakhs, which is self-funded by the founders, has a seed investment, receives funding from family or friends, or has taken a debt, your mind is full of questions and apprehensions about managing your venture successfully. You need to ensure that all your strategic and operational diagnostics, recommendations, and decisions made across all areas of your business ecosystem are aligned with your organizational vision and goals. Every element of your initiative, from your technology to branding, should attract the right investors at the right valuation and a perfect cultural fit. You also need to hire the best of team members who can help you reach your goals without road blocks. You need to leverage all possible inputs you can receive in terms of the technological, clinical, financial, and regulatory domains to make sure that you have mapped your product roadmap accurately.
Given all these apprehensions and business expectations, you are concerned about defining your business model as a minimum viable product with accurate milestones that indicate your journey toward your goals. You also need some reassurance that your revenue model is scalable and aligned to futuristic digital transformations. You are also concerned whether your startup equity debt structure is adequately structured for safeguarding your promoters’ interests.
Sarathy’s comprehensive advisory model helps such ventures assess their AS-IS status, and our experts recommend adequate corrections across all your functions so you can align your strategies and operations with your organizational vision, enabling right investments at the right time. Our experts also assess your organizational structure, recommending the right skill set that you need to complement your team with and fill any gap in skill sets. They critically assess your financials to ensure that your equity structure and shareholder agreements are adequately balanced for future growth.
Strategy Review & Analysis
A company’s success depends on its strategy, which should be aligned to its vision, with its review mechanism established so as to enable periodical analysis and help in aligning the operations for a clear and focused approach for the organization. We at SARATHY ADVISORY would engage with the core team and help them in aligning the vision to the strategy and in building the right mechanism of review and analysis.
Building or Review of Business Plan
Business plan is an integral part of an organization since this helps the organization, as a team, to evolve, plan, operate, validate, and correct it courses by tweaking its assumptions based on the ground realities. Driving the goals across the organization requires clearly defined and measurable goals, which are derived from the business plan for all the functions of the organization. We at SARATHY ADVISORY perform the diagnostics of the present business plan or even help the co-founders in building a business plan with mechanisms of defining the right functional goals and review mechanisms for each one of them.
Organization Design, Structuring, Behavior, & HR Advisory
Organizational strategy and design are correlated, which catapults companies to achieve their vision and goals within specified timelines. This is done, importantly, by having the right person at the right job with the right goals and KPI. We at SARATHY ADVISORY help by performing the organizational diagnostics and recommending the organizational design and structure that would be the best suited based on the vision and strategy of the organization. This would also entail assisting the HR team in defining the job descriptions and defining the KPIs for each role as per the organizational strategy.
A budget planning exercise helps an organization plan the use of its limited resources with prudence, communicate business targets and goals to senior managers and staff, motivate staff to go the extra mile, and evaluate performance by studying the gaps against the actuals. Once you have laid down the plan, the execution or implementation phase starts and during this process there will be deviations from the plan. The essential key here is analysis – to know what happened and why?
Marketing strategy is one of the keys to success to drive the right numbers through the sales of their products or services. SARATHY ADVISORY can help organizations in reviewing their existing marketing strategy through an outside-in thinking or can help in building one based on the organizational vision and strategy.
Operational Planning & Efficiency
Operational efficiency is achieved by streamlining the organization’s core processes to more effectively respond to continually changing market forces in a cost-effective manner. In order to attain operational efficiency a company needs to minimize redundancy and waste while leveraging the resources that contribute most to its success and utilizing the best of its strengths, be it workforce, technology, or business practices. The reduced internal costs that result from operational efficiency enable a company to achieve higher profit margins or be more successful in a highly competitive environment.
Advisory for Funding
Funding is one of the critical aspects that any organization needs for its growth; hence this has to be done keeping in mind the stakeholders of the organization by protecting their values and rights while going in for funding. SARATHY ADVISORY helps organizations to be investment ready by handholding them through the funding cycle keeping in mind the protection of key stakeholders by finding the right funding partner with the right culture.
Clinical Technology Advisory – Devise Integration Strategy
Healthcare technology companies are increasingly moving towards tight integration of clinical devises into their clinical applications. At SARATHY ADVISORY our team of clinicians and technology experts with their vast knowledge on healthcare space can help in the required knowledge transfer through an amalgamation of medical science and technology, such as artificial intelligence, machine language, and data science.
Clinical Knowledge Advisory - Decision Support Knowhow
Healthcare technology companies need lot of domain support from a medical science perspective. SARATHY ADVISORY through its experienced domain experts provides such domain support to companies.
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