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McKinsey's MECE (Mutually Exclusive and Collectively Exhaustive) Framework has been used for structured thinking & communication by leading consultants, marketing professionals, journalists and other peer groups for five decades. The concept of MECE was brought into the world by Barbara Minto, who worked at McKinsey in the 1960s and 1970s. She was the first female MBA that McKinsey hired. (Thanks to the popularity of MECE alone, she has proved to be big pay-off for McKinsey’s policy of … [Read more...] about ME(C)5E: Going Beyond McKinsey’s MECE

Like every year before the budget the Finance Minister is besieged with diametrically opposite demands from different segments of the industry. For example, the indigenous manufacturers ask for custom duty increases and the transnationals asks for its reduction. How will she decide? Frankly, it is not easy. Why? Because there is a lot of rhetoric and it is difficult to distinguish rhetoric from reality. And a single misstep costs the country. Fortunately, there are examples from the … [Read more...] about Heed Ricardo’s advice, cut medical devices tariffs

Levitt and Dubner in their book Freakonomics quote a medical study which found that obstetricians in areas with declining birth rates are much more likely to perform cesarean section deliveries than obstetricians in growing areas – suggesting that when incomes start falling doctors try to ring up more expensive procedures. This is an example of a treatment bias. Is it possible that the stent-price control could also be giving birth to treatment biases. (Just as a background – Stent … [Read more...] about Can price control create treatment Bias?

Throughout history there have been many instances of governments wanting to control prices. In most of these instances, the often-well-intentioned price control has inadvertently hurt access or at least brought down the quality of the sector. The attempt to control prices of medical services is not new. It dates back to several millennia. The first medical technology was Religion. Because more than a couple of thousand years ago whenever a natural disaster occurred or a disease struck or … [Read more...] about History of healthcare price control and its latest turn in India

In an exclusive interview with Arunima Rajan, Pavan Choudary, Chairman of the Medical Technology Association of India (MTaI), discusses the pricing framework for medical devices, shedding light on its critical aspects and implications for the industry. What are the key considerations or factors that the NPPA should take into account while developing the new pricing framework for medical devices? Any price control has the potential to distort the market. Considering that the medical device … [Read more...] about Navigating the Complexities of Medical Device Pricing: Insights from Pavan Choudary