“Diagnostics industry would be a game changer for healthcare sector”

The New Delhi based Oncquest Laboratories is one of the India’s leading super specialized laboratory in molecular and clinical diagnostics. The company was recently selected as the winner of ‘Cancer Diagnostic Testing Laboratory of the Year’ under ASSOCHAM’s Women’s Health Excellence Awards 2017. In an exclusive interaction with the Biovoice News, Dr Ravi Gaur, Chief Operating Officer, Oncquest Laboratories shared his thoughts on the company’s latest activities, overall trends in the industry and policy. Read the excerpts below.

Please share your feelings on the company receiving ‘Cancer Diagnostic Lab of the Year Award’ recently? 

It is a great achievement for each one of us. Getting an award from the Associated Chambers of Commerce of India (ASSOCHAM), is always an astounding experience. We are rejoicing the moment and are celebrating the honor accredited to us. However, this award has entrusted us with a sense of responsibility to work hard more in terms innovation and affordability in the field of cancer diagnostics.

What separates Oncquest from the other players in the market? How are you making the difference in the cancer diagnostics?

Oncquest’s approach is a bit different from other providers. We believe in providing very high quality and technology-driven comprehensive diagnostic solutions which are validated for the Indian population and that too at a highly affordable price. We remain committed to bring the most advanced technologies to India, validate them for the Indian environment and then ensure its availability to the masses at a very affordable price.

At Oncquest, we have one of the widest test portfolios in the diagnostic industry. With time, we have adapted ourselves to the market trends and customer requirements to develop tests based on the protocol requirements.

“Today, the diagnostics are more technology-driven and hence, we are moving from being a pure play hardware-driven business to a technology-enabled business.  The use of clinical algorithms and IT algorithms to look at the treatment decisions is picking up”

As a company, what are the opportunities yet to be tapped and what are the challenges that haven’t been overcome yet.

 We strive to increase the reach and widen our horizon to other continents.

 The major concern is that the diagnostic industry relies on the continuous innovation of new technology but for that we are dependent on foreign equipment and other kits. This increases the overall cost of the tests and hence, to make them affordable for everyone is the biggest challenge for us.

Is the cost effectiveness still an issue as far as poorer sections of society are concerned?  How are you addressing the balancing act between quality and yet affordable price?

As a service provider, affordability to everyone is one of our prime focus, but, it is one of the major challenges to sustain in the business in this industry. I think government’s new healthcare policy will help to bridge that gap.

 Being in the healthcare domain, we cannot compromise on the quality, because our results will change the lives of many. We always maintain it as per the international standards and try to make it affordable. We offer customized solutions at all levels of the healthcare platform be it a super-specialty hospital, clinics, day care centers, wellness & lifestyle clinics (both rural and urban).

 How do you analyse the latest trends in medical diagnostics in India? Where is the market heading to?

 The bridge between innovation globally and in India is filling at a very faster pace. The Indian market is evolving and maturing as per the Indian appetite. Sequencing is nowadays a major trend, especially in high-end diseases. We are slowly entering the clinical space from being only academic and research organization centric. Today, the diagnostics are more technology-driven and hence, we are moving from being a pure play hardware-driven business to a technology-enabled business.  The use of clinical algorithms and IT algorithms to look at the treatment decisions is picking up.

How do you view the new healthcare policy and its effect on the diagnostics industry in India?

The National Health Policy 2017 puts forth a concrete framework for the universal healthcare. It aims to deliver quality healthcare services to all at an affordable cost in the same way it provided the room for the private sector to grow and become the strategic partner in remodeling the Indian healthcare.

Diagnostic industry would prove to be a game-changer for the healthcare sector. Timely diagnosis of diseases has the potential to save millions of human lives. I think the government is much aware of this fact and that is why the new policy will play a major role in flourishing and raising the new standards for this industry.