How thyrocare has become a brand today in indian diagnostics?
Posted By HealthcareOnTime Team
Posted on 2021-06-14
Thyrocare was started with a primary objective of offering a cost-effective solution to laboratories in Thyroid testing. The singular focus on Thyroid testing and the ability to achieve quality testing through Nobel prize winning technology, Radio- Immuno Assay (RIA) helped to amplify the volumes and optimise the cost intelligently. This not only helped the laboratory control its overheads, but also brought down cost to the end user considerably. This volume building formula was later applied on other clinical chemistry tests that has a demand which could be processed without adding much to the overheads.
The company was among the first in the industry to promote Wellness on a large scale through its B2C brand "Aarogyam" , which focuses on preventive healthcare diagnosis. The brand which offers a battery of metabolic tests intended primarily to diagnose lifestyle related disorders at an early stage became a common name in the diagnostic sector. A buffet kind of an offering wherein dozens of tests are packaged with a highly economical pricing structure was well received by the health conscious individuals who found tremendous value in it. This approach also helped to increase the test volumes significantly as each profile would contain atleast 50 tests loaded in it. While competitors chased sick-care , it was Thyrocare who set the precedence for preventive care. Thyrocare realised that sick-care market is cluttered and has constricted growth while there is no limitation in expanding into the preventive care segment.
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Focus on a sleek test manu , unmatchable pricing , night time processing unique air - cargo logistics , IT driven operations , franchise model are some of the key disruptions in the industry caused by Thyrocare which laid the foundation for long - term prosperity and sustainability of the brand . Dr A. Velumani believes that alll inorganically built brands may not be sustainable businesses; but all sustainable businesses can become great long - term brands . he saw it early that any country to be developed must have at least 50% preventive care . He also believed that india being a young country will have more middle aged population in a two decades from now , and that will secure and fuel the growth of the oragnization for years to come . 'Breaking the convention' was the most preferred strategy the company applied in all areas of technology , operations and business expansion . "Focus" from day one has fueled the growth of the company and that helped it to become the most envied company in the indian