One of the important 'flavours' at IRIA 2015
One of the important ‘flavours’ at IRIA 2015. Kochi seems to be an accent on the younger lot of radiologists. This explains the sessions offering guidance to exam going post graduates and young radiologists entering practice. Which is why Dr David Yousem, co-author of a well-read book on this topic: “Radiology Business Practice: How to Succeed,” will also be addressing delegates at India’s largest annual gathering of radiologists.
Since this issue of In Imaging will be distributed at the IRIA event, we decided to provide further inspiration to radiologists, both young and not-so-young, who are caught in the internal debate of taking the plunge into flying solo or playing it safe.
We feature the success stories of three radiology enterprises, which started small and may still not be too big in terms of turnover but seem to have ridden out the initial rough road and found their rhythm. We tried to figure out their success mantras in the hope that others may learn from their experiences.
In this we feature three enterprises with their leading lights: Dr Himadri Sikhor Das, Director & Radiologist, Matrix, a unit Of Apace Imaging & Diagnostic Centre in Guwahati (pages 14-15); Dr Umashankar D, Chief Radiologist at Padmashree Advanced Imaging Services , Bengaluru (pages 16-19) and Dr Ruchira Marwah and Dr Atul Marwah, the promoter couple behind Mumbai’s Medcare Institute of Diagnostics (pages 20-22).
All three examples have one thing in common: the right attitude to risk, which is to embrace it but only after preparing a good business plan. Dr Umashankar sums it up best when he says that this is a chance to be your own boss.
But all start up radiologists will face two major road blocks: real estate and finance. After these are smoothed out, managerial issues take centre stage, be they with talent sourcing, training and retention. Balancing financial resources to grow into a profitable venture as well as providing care to the maximum number of patients also calls for having a blend of financial acumen tempered with compassion. While Dr Umashankar does this by going the volumes route and grooming freshers.
Entrepreneurs have to be ready for personal sacrifices in the initial years. For instance, both promoters of Medcare Institute of Diagnostics reinvest their salaries into the business to reduce the cost burden on the enterprise.
Radiology entrepreneurs who dare to live their dream off the beaten path of the major metros and choose smaller towns are faced with another set of infrastructure issues. For instance, Dr Das of Guwahati lists regular power supply as a deciding factor while choosing the location for the imaging centre.
All these hurdles come after cutting through the red tape that is India’s bureaucracy, in the quest for clearances from a number of government agencies. Entrepreneurship is not for the fainthearted. Therefore we need to celebrate these success stories and hold them us as role models for the fraternity.
Do write in to us with more such inspiring examples of radiologists who have succeeded against all odds.