Dr lal pathlabs is a medical diagnostic company that is trying to use more and more high tech stuff to add tests for their customers. They are always looking for ways to diversify their product portfolio by using technology and adding tests. This is something that they are going to focus on in the years coming. The 5 key differences between them and their competitors is that they have a huge network for supply logistics and all the stuff like that. They also have a very good and strong brand name with over 7 decades of experience. They have a very unique model for network expansion. They are also the largest diagnostic chain with pan india presence. They also have varied test panels. They have 32 plants. Their area of business is mostly controlled by unorganised players and they have been focusing on expanding their business and have done so very strategically. They were the first to realise that india needed quality diagnostics since 70 percent of the medical decisions taken are taken based on the diagnostics. This is why they also invest a lot into the technology that they use.

 They have continued to make progress in their 3 pillars which are expansion in geographical presence, creating a unique fresh sized portfolio and investing in technology to prepare for the future. To streghnthen the last pillar they have became the first company to use AI for some of the diagnostics in the Histopathological Diagnosis in the field of Prostate and Breast biopsies. They also believe that diagnostics are under penetrated in the Indian market and that the government will take action to increase healthcare penetration and diagnostics are a key part of the process. The things that they are focusing on to capitalise on the opportunities are that they are exploring new opportunities as they are facing competition from other players so they are looking for new synergies. Bring a more diversify and competitive portfolio by recognising the changing needs and enhancing their product offerings. The last 2 focus on penetration into tier 2 and 3 cities because of the vast opportunity that lies there and expanding into the global market because they are so far only in India. 

Covid 19 was a challenge that presented new opportunities and also challenges something good that come out of it for the health industry was that people started becoming more and more health focused and therefore to meet the rising demand dr Lal started doing home collection samples and this has also improved sales by a lot. There is also a surge in demand for diagnostics and to meet this and capitalise this they are expanding their network. They realise the big role technology is going to play and to match this they have been trying to digitise by making an app that handle all sorts of things like scheduling and paying for appointments or like seeing what diagnostics they can do. They are also still trying to focus on penetration into tier 3 and tier 4 cities realising the potential over there. Looking forward they have a few main goals which are 1. Expanding their presence deeper into India. 2. Expanding their network and services to cater to their customers needs. They have also made strategical advancements and made a partnership with another diagnostic company to further their product range. They will be looking to expand their diagnostic offerings in neurology and cardiology. 

To digitise they are taking 6 main steps which are New website launch which is when they launch their new website which has all the new ai. The also have a logistics app. Next Reco.AI which is their AI that can help personalise feedback for customers. One registration which is when all the registration and appointments available are made through one single platform. Wallet which is more of a motivational thing which is when senior citizen book and then they can collect wallet points for rewards. Lastly they are also introducing a chatbot. 

Global economy faced several headwinds due to geopolitical tensions and are expected to see resurgence in the advanced market. Despite this the Indian markets were one of the fastest growing mainly because of construction projects and government initiatives. So far the growth drivers for the Indian health care sector include population demographics, a growing middle class, higher earnings, greater health awareness and an increase in lifestyle disorders. There is also been an increase of non-communicable diseases which is increasing the demand for advanced health care. Pandemic helped a lot of healthcare companies realise the need for faster and more precise diagnostic and really helped the Indian diagnostic sector. The 2 main markets inside the diagnostic segment are radiology and pathology and 60 percent of the diagnostic are toward pathology while the other 40 to radiology. 

Summary

Dr lal pathlabs is an Indian medical diagnostic company. The so far don’t have any business outside of India but are looking to expand. The 2 main parts of the diagnostic sector are pathology and radiology. They are trying to expand their product range into neurology and cardiology. The also try to digitise their process for the ease of their customers as much as they can. 

Personal thoughts. 

I don’t think I have any company in my portfolio which does what they do so I think I should take it. I will read Vijaya and metropolis before deciding which one. I really liked how they are trying to digitalise their process. I also think that they are going to be helped from government intiatives a lot in the future as 70 percent of medical decisions are taken upon diagnostics. With that being said I think diagnostics is one of the more unorganised segments.