Vijaya Diagnostic Centre is one of the largest comprehensive diagnostic service providers in India. With a robust network of 140+ centers currently operational in over 21 cities, Vijaya Diagnostic Centre is committed to providing quality, reliability, accuracy, and affordability, all while prioritizing the needs of the customer to enhance their overall experience.
The company was established in the year 1981 by Dr. S. Surendranath Reddy, who is considered the backbone of diagnostic services in a single location. The first center was established in Himayat Nagar and it offers a wide range of tests in pathology and radiology. In the long run, Vijaya Diagnostic Centre has amplified its services and has become one of the largest players in the industry.
BACKBONE OF THE COMPANY
Taking over the baton from Dr. S Surendranath Reddy, Ms. Suprita Reddy who now holds office as the CEO & Managing Director of the company is the face of the organization and heads operations and general conduct of business. Having formally joined the company in 2002, she was instrumental in growing the company’s span of reach from 6 centers in 2002 to a staggering 140+ centers spread across 20 cities today. The company today has a yearly turnover of FY23 Annual Revenue of 459.2 Crs with a Net Profit of 84.6 Crs and FY24 Q1 Revenue is 121 Cr with a Net profit of 26 Crs. The expert workforce comprises a skilled and experienced team of over 2500+ professionals consisting of the country’s top radiologists, pathologists, and healthcare professionals.
A study related to the organization should contain an analysis of its financial performance, market position, and competition, customer satisfaction and loyalty, operational efficiency and effectiveness, employee satisfaction and turnover, legal and regulatory compliance, and social and environmental impact.
Vijaya is one of the leading B2C integrated diagnostic chains across India with a high brand recall. They are trusted due to their commitment to customer delight and have an enormous presence in the public and private sectors. They are licensed with over 1000 public and private companies, corporates, banks, and institutions. Some of their notable public sector clients include CGHS, ECHS, SBI, RBI, NABARD, SIDBI, HPCL, IOC & Electronic Corporation of India. They also have a strong presence in the corporate/private sector, with clients such as ADP Private Limited, Aurobindo Pharma, Biocon, Broadridge, Coromandel International, Deloitte, Dr.Reddys, East Man Chemical, GMR Group, Hyundai Motors, Infosys, L&T Metro, MSN Labs, My Home Industries, Pfizer Healthcare, Powergrid, Punjab National Bank,TCS ,The Sirpur Paper Mills, V-Guard industries & Vodafone Idea.
Vijaya Diagnostics is known for their proficiency in assembling specialized diagnostic investigations and examinations, and they have a huge network of healthcare partners. They pass on the benefit of their volume-based pricing to their partners, offering affordable pricing for these specialized tests.
WHAT MAKES VIJAYA DIAGNOSTIC CENTRE’S SKILLS AND EXPERIENCE STAND OUT?
Vijaya has been at the forefront of introducing advanced technologies and sophisticated equipment in the diagnostic space since its inception. The company’s unique business idea of providing integrated diagnostic services all under one roof was a novel and unaddressed concept in the 1980s, and it continues to differentiate Vijaya from its competitors even today.
Vijaya’s customer-centric approach has driven the company to focus on convenience and easier access. The company majestic a hub and spoke model, which was different from other players in the diagnostic space, by making every spoke resourcefulness apart from being a feeding source to hub centers. This idea ensured that customers could lay hands on services with ease and convenience.
Vijaya is focused on providing extensive diagnostic services to its customers, and the company has built a reputation for being a leader in the diagnostic space. With its innovative approach and commitment to customer satisfaction, Vijaya is poised to continue its success in the future.
DIGITAL CUSTOMER EXPERIENCE JOURNEY
Vijaya Diagnostics recognizes the impact of technological advancements on the customer experience. As a result, the company is committed to mapping customer behaviors to align its services with their needs, gather insights for improvement, optimize customer touchpoints, and ultimately deliver a comprehensive and fulfilling experience at all times.
In its quest for complete digitization, Vijaya has successfully launched a user-friendly mobile app for radiology and pathology investigations. This innovative app provides a seamless and enhanced patient experience, setting the company apart in the diagnostic industry.
Furthermore, Vijaya is proud to announce the successful rollout of a fully functional e-commerce website, which enhances the company’s online presence and customer experience.
AMBITION OF VIJAYA DIAGNOSTIC
The main goal of Vijaya Diagnostic is to meet with a balance between quality, reliability, accuracy, and affordability, while always prioritizing the needs of the customer to enhance their overall experience.
To achieve this goal the organization invested in advanced technology, sophisticated equipment, and the best available talent and skills in the diagnostic field. This allows the company to expand their reach and move closer to their customers while ensuring that it provides the same high-quality services across all locations.
The organization’s resolution to expand into tier 2 and tier 3 cities and untapped markets is a smart move, as it allows them to provide more people with access to diagnostic services, even in areas where services are previously unavailable. Additionally, it’s important to maintain the same level of quality, sustainability, and capability to perform a wide range of tests in all locations.
CHALLENGES FACED DURING COVID
Vijaya Diagnostic has gone through a tough-challenging period but has emerged stronger and more resilient as a result. It’s great that they had strong processes in place for business conduct, which helped their organization navigate the pandemic and maintain its reputation as a provider of high-quality healthcare services.
It’s also impressive that Vijaya Diagnostic Lab was one of the first to be approved by the government for conducting screening tests, and that has successfully taken on the responsibility of publishing error-free results on the state government’s portal. This demonstrates their commitment to providing accurate and reliable information to the public during a critical time.
IMMERSIVE TECHNOLOGIES AND ITS IMPACT
Vijaya is always at the forefront of introducing cutting-edge technology and advanced equipment to revolutionize the diagnostic industry. The organization believes that by staying ahead of the curve in terms of technology advancements, they can offer their customers the best possible experience.
The area where Vijaya Diagnostics is heavily investing is in the field of AI, which has taken the world by storm. By using algorithms on historical disease trends and health information, They are able to provide more accurate, reliable, and specific diagnoses for rare disease types, which helps organizations deliver faster and more effective treatment.
In addition to AI, the company is constantly innovating and adopting the right technology to optimize their processes and improve the overall customer experience. Recently, they have implemented a comprehensive LIMS that has enabled them to streamline operations and enhance efficiency across their vast network of centers. Vijaya Diagnostics has also introduced a robust and easy-to-use mobile app for radiology and pathology investigations, as well as a fully functional e-commerce website, which has been well received by their customers.
The organization is more dedicated to using the latest technology to provide our customers with the best possible service.
TRENDS IN INDUSTRY
The rapid advancement of technology has changed the way customers interact with businesses. Today’s customers have a bunch of options available to them at their fingertips, making them the real kings of the market. To keep up with this changing landscape, Vijaya Diagnostics has taken significant steps towards complete digitization by introducing a mobile app and e-commerce website to enhance the customer experience and streamline our processes.
In addition to this, the organization is constantly working on optimizing every touchpoint in the customer journey through digital mapping. This helps them to offer a wholesome customer experience at all times.
Furthermore, with the growing preference for convenience and faster reach to service delivery, Vijaya Diagnostics is expanding rapidly to bring their trustworthy services closer to their customers. The main aim is to be as close as possible to the customers, setting them apart from the competitors in the diagnostic space.
The pandemic has brought about significant changes in the diagnostic industry, with many unorganized players entering the market. However, as the effects of the pandemic subside, customers are increasingly shifting their focus towards trusted, organized service providers like Vijaya, which has over 4 decades of expertise in the sector.
With the dedication and commitment to accuracy and quality, the company is well-positioned to stay ahead of the competition and continue to provide their customers with the best possible service.
DIFFICULTIES ENCOUNTERED BY VIJAYA DIAGNOSTICS TO ACHIEVE THIS POINT
The path to growth and success is often fraught with challenges that must be met and overcome. A willingness to adapt and adopt new approaches is essential for growth and success.
For the owner, taking over the family business from his father was a daunting task that required a great deal of confidence and the acceptance of the team. However, with a readiness for change and a commitment to effective leadership, She was able to overcome these challenges and build a strong, cohesive team that has been with him since the inception of the business.
Another significant challenge the organization faced was the need to completely overhaul their business model to the hub and spoke approach. Despite initial resistance from the team, Vijaya Diagnostic was able to successfully implement this change by leveraging positive persuasion and motivation. This new approach allowed the organization to streamline their operations and improve efficiency and ultimately set it apart from the competitors in the diagnostic space.
WHAT DOES SUCCESS LOOK TO THEM?
At Vijaya Diagnostics, success is mainly focused and is defined by the trust that the customers have placed in them for many years. As they continue to grow and approach business, the primary key is to focus on maintaining, keeping, and improving the quality of the services and reputation.
Vijaya Diagnostics are very proud to offer comprehensive diagnostic services within the same enclosure which sets them apart from other players in the market. Additionally, they have consistently demonstrated the highest growth rate compared to other players in the diagnostic space.
The organization’s commitment to quality is evident in the extensive training and certification programs that provides for their team members. The organization strives to ensure that their team is occupied with the latest knowledge and skills to provide the highest level of service to their customers.
Vijay Diagnostics also understands the importance of staying ahead of the curve in terms of technology and innovation. This is why they are constantly investing in new equipment and software to improve their services and provide their customers with the best possible experience.
IMPORTANT DECISIONS TOOK BY THE COMPANY
As the CEO of a leading diagnostic services provider, the spokesperson understands the importance of making strategic decisions that drive success and growth. One of the key decisions She made was to prioritize continuous improvement, not only for herself but also for her entire team. She trusts that if anyone wants to be successful, they must always be looking for ways to do things better and more efficiently.
To achieve this, She has implemented several modifications, consisting of having processing units in every center, moving to a hub and spoke model, and adopting new technology and processes to enhance the client’s experience and streamline operations. These major decisions were not easy, but they were very important to post their company as a leader in the healthcare industry.
In response to these modifications, She mainly focused on prioritizing client’s needs and preferences, which helped them create more effective service offerings and expand the company’s business. By adopting a customer-centric approach, Vijaya Diagnostics was able to build a strong reputation and establish itself as a trusted provider of quality diagnostic services.
HOW DOES VIJAYA DIAGNOSTIC ENCOURAGE EMPLOYEES?
The spokesperson stated that “ the approach has to be taken for choosing and interacting face to face with the team is commendable. Mainly focusing on the personality, zeal, and work ethic of employees is a much more effective way of building and growing a successful team than solely relying on educational qualifications or institutional reputation.
The dedication to creating a family-like environment where all employees are treated equally, approachable, and valued is also a great way to foster a positive work atmosphere and guarantee that everyone feels heard, valued, and respected.
Providing certain facilities like -medical benefits, job security, and health insurance, are some ways to show that the company cares about their employees’ well-being and financial security. These types of benefits are not only important for employees’ physical and mental health, but they also help to motivate and retain top talent”
STRATEGIES FOR THE COMPANY’S GROWTH
The CEO of the company has always emphasized the importance of continuous improvement and making progress toward better customer experiences. To achieve this result, Vijaya Diagnostics has taken several conscious and informed steps.
Firstly, they have made a customer-centric approach a priority by keeping a close ear to the ground and tailoring their service offerings accordingly. The organization has also adopted a data-driven approach to decision-making, which helps them to make informed choices about expanding their business.
To enhance the actual speed and efficiency, the organization has decided to expand both organically and inorganically. They have also concentrated on expanding to tier 2 and tier 3 cities, along with parallel expansion in developed metros.
Vijaya Diagnostics has conducted market research and analysis to select the best locations for expansion, based on market trends and customer needs. Their hub-and-spoke model has been implemented differently, with each spoke becoming a service-offering facility as well as a feeding source for hubs.
By adopting these strategies, the organization aims to become a leader in their industry and provide consistent, high-quality customer experiences.
In the near future, the company will focus on organic growth. However, if they find a potential partner whose ideology, ethics, and business operations align with Vijaya Diagnostics, they may consider adding an inorganic growth mode.
Their expansion strategy will involve consolidating the presence in core geographies and then expanding into tier 2 and tier 3 cities. They will also look for new opportunities to expand into untapped areas.
ADVICE TO THE READERS
The path to success is to have an aim and goal in life and the grit and determination to work towards achieving it, no matter how hard the road is or how many challenges one might have to encounter and overcome in the process. But nobody should stop believing that a never-say-die attitude towards life and the boldness to step out of one’s comfort zone is crucial for success.
Additionally, think about “humility is the most important virtue and that it should be coupled with dedication, hard work, and a burning zeal to make things happen”.