Prasad Rao Pasam: enacting change in the healthcare with Shar Technologies Group
Prasad Rao Pasam is adding humanity to healthcare, creating a healthy environment while cutting the cost with his effective approach and unique ideation.
Hospitals and other health care providers are experiencing escalating pressures to deliver sufficient care to a rising number of patients with declining financial resources. One approach to safely cut down their costs is through group purchasing arrangements where hospitals pool the negotiating and buying power of multiple health care providers to negotiate the best drug, supply, services and medical device under the budget of patients. In short, group purchasing supports hospitals purchase the supplies they need at a low price.
Shar Technologies Group is the prominent healthcare group purchasing organizations (GPOs) of India and a One Stop Medical Care Solutions. Here, the purchase is done at a cheaper rate without compromising with the quality. Since inception, the GPOs members are committed to delivering the best products and services at the best value.
Shar Technologies is the leader of the medical care supply chain, known for its transparency and accountability. The company delivers top savings annually to healthcare providers, Medicare, Medicaid, and taxpayers under the dynamic leadership of Prasad Rao Pasam. Dr.Pasam is a dignified and excellent administrator and initiator of diverse innovative ideas. He instituted this corporation in 2005 to focus on Human Resources, Recruitment, and Training, and its medical division was inaugurated in April 2010.
Armed with an MBA and Ph.D. with 21 years of multifaceted experience in Human Capital Management and International business affairs be a foundation for Dr.Pasam to come up with amazing and unique concept and passion to implement them. Dr.Pasam is known as an excellent communicator with a flair for implementing best practices to achieve excellence in business.
Recently, Prasad Rao Pasam was in the hot seat of The CEO Magazine, where he talked about his professional journey, Shar Technologies Group and present health care of the country.
Here are the edited excerpts.
Provide insight on your journey and what motivated you to start your own venture in the medical sector?
I was brought up in Sriharikota, rocket launching station of India. Research, failures, and success were part of the game. People working there had a strong commitment to accomplish the vision and serve the society using rocket technology and satellites. After schooling in Space Central School, Sriharikota, I did my graduation and post-graduation from S.V University, Tirupati and moved to Chennai to take up business in Human Resources consulting. I was not happy with the scheme of things that made me move on and develop software products and applications. To get more equipped with knowledge and flair for research, I finished my Ph.D. and established the company to innovate solutions and services for the challenges in Education, Healthcare and Housing space.
I was the part of the core group managing Rajiv Aarogyasri, one of the largest communities of health insurance schemes. 65 Million BPL population, 1538 Primary Health Centres, 380 50 bedded hospitals, 12,000 beds occupied every day and 35 tertiary medical procedures to be executed. It was a tough task and it inspired me to start India’s first medical care Group Purchasing Organization, STG Medical Care GPO.
Brief us about the progressive factors and milestones of the organization.
We are the Comprehensive one-stop solutions and services for our GPO members. We have started in 2010, and by 2012 we could have added 45,000 beds, 18, 00 hospitals and 36 Franchisees in our firm. It is one of the biggest milestones for us. We created a platform beyond the conventional GPO’s and adopted solutions for local healthcare challenges. Our progressive factors include:
- Hospital Supplies
- Hospital Information Technology Services
- Employment & Training
- Medical Equipment
- Hospital Accreditation & Quality
- Advanced Ambulance Services
- Bio-Medical Waste; Medical Tourism
- Health Care Media and Hospital Infrastructure
In this digital world, how does mobility change healthcare? How has this transformation affected your company?
Narrowcasting and personalizing of healthcare information, purchase of healthcare products and services directly from the source, Video medicine counselling and Telemedicine interactive sessions for preventive medicine and post medical care are some of the initiatives that can make use of mobile technology and improve healthcare.
We are a healthcare technology company connecting various stakeholders in the healthcare industry through our supply chain platform. We use technologies like Big Data and AI to analyse the disease load and alert the medical dispensing agencies to cover the geographies and demographics with appropriate medical care solutions.
What factors providers should consider when looking for patient engagement solutions?
I believe the disease is the same for the rich, middle class and poor. The best medical equipment, protocols, and treatment procedures should be standardized and made cost sensitive. The best model is family medical care and community healthcare.
What impact do you intend to make in Indian healthcare? Is there any technique to enhance the quality of health services without adding costs?
Integrated Healthcare Services, aligning various disciplines of healthcare like Allopathy, Homeopathy, Ayurveda, Physiotherapy, and Yoga etc. to integrate and offer the most appropriate solutions with a better price.
In my point of view, Bulk Purchases-Bulk Savings for our members is a perfect way. We negotiate the best price and quality from the manufacturers. Support research and development to improve and bring in newer products and services available for the masses at an affordable cost.
Throw some light your on company culture.
VIP (Very Important Person is the patient, and MIP (Most Important Person) is our GPO Member. We build services around these two entities and continuously striving for enhancement. We have our own training and certification program for our staff and franchisees.
By 2025, how will the healthcare delivery system of India transform? What roadmap you have laid for the same?
Health Insurance coverage and Universal Coverage will prevail making the cost of the treatment in a speculation mode. Need to take proper corrective measures so that both Health Insurance companies and service providers will have regulation in cost and treatment protocols. STG Medical Care GPO is working in full swing and will make the best practices and tools available for the members.
What is the secret of your success?
I believe that success isn’t just about what you accomplish in your life; it’s about what you inspire others to do.
My success secret is the capacity to understand the challenges in the healthcare industry and perform relentlessly to adopt best models and deliver the most appropriate solutions. I offer the timely and best value to our members and stakeholders in the healthcare space.
So what keeps you up at night?
The biggest threat to mankind is a DISEASE. STG Medical Care GPO is in constant touch with various services providers to cure with care and controlled cost.
“Service to Mankind is Service to God”
I thank all the stakeholders for the patronage they are showing to this initiative. I welcome all Organizations working in the medical care domain to become Corporate Members and Medical Care Professionals or Individual Members of “STG Medical Care GPO”, and enjoy the experience of togetherness. We understand the obstacles in the medical care industry as we have been associated with various medical care initiatives for the past two decades. This step will add value to the supply chain through the bulk purchase of products/ services/ solutions for the members of STG Medical Care GPO, give control over the medical care solutions, inventory and price without compromising on the quality.
Good health and wealth for all the stakeholders of medical care ecosystem is the motto of “STG Medical Care GPO” – Dr.Prasad Rao Pasam, Founder & CEO, Shar Technologies Group.