HCL Healthcare expanding services to meet the growing corporate demands, says CEO Shikhar Malhotra

In a growing trend, the corporate healthcare sector is prioritising preventive care, digitalisation, and employee well-being to boost productivity, cut costs, and elevate job satisfaction. HCL Healthcare aims to capitalise on this opportunity by offering preventive health and wellness solutions to Indian corporates. In an interview, Shikhar Malhotra, Vice Chairman and CEO, HCL Healthcare, talked about HCL Healthcare's operations and its impact on Indian corporate health, profitability of the company across business verticals, and plans for expansion. Edited excerpts:

BT: Which business vertical or service currently yields the highest profit margins, and where does HCL Healthcare see opportunities for expansion?

SM: All our lines of business are profitable. As an organisation, HCL Healthcare has been profitable for over 5 years and will continue to remain so. We are execution-focused and believe that in the health space, there is no better recognition than being acknowledged for quality, leading to referrals. Almost all of our recent clientele has come from recommendations. We are the only company that generates real-time clinical insights through our robust Electronic Medical Records system. We are expanding our service line to meet the growing demands of the corporate sector. Along with that, we are developing a feature-rich digital wellness app that will serve as a one-stop shop for all corporates. With its gamification, health challenges, and fitness schedules that go beyond health checks and doctor consultations, the app will be incredibly engaging. Our goal is to release the app in the next few months.

BT: How does HCL Healthcare serve diverse demographics and industries, and what are your expansion plans?

SM: At the core of our mission, we are dedicated to developing services that cater to a wide-ranging workforce and demographic. As a leader in the corporate health space, we take pride in serving more than 600,000 lives, positioning us as a pivotal player in this space. We have a significant presence in the IT and Financial Services sectors. However, we are industry-agnostic and flexible to serve any sector. Additionally, we are gaining momentum in the education sector and currently serve four large universities as key accounts. India has shown tremendous growth opportunities, especially with the significant GCC expansion in the country.

BT: What impact has HCL Healthcare's 'phygital' model had on Indian corporate health, and how does it contribute to shaping a healthier future?

SM: HCL Healthcare is one of India’s largest providers of preventative health and wellness solutions to Indian corporates. Powered by an accomplished team of clinical and corporate professionals, our company has had the privilege of serving more than 600,000 employees and family members, embarking on numerous health transformation journeys. In a decade, HCL Healthcare has effectively established a network encompassing over 50 physical facilities and service coverage of more than 9,000 postal codes pan-India. Our innovative and technology-driven 'phygital' model of care, bridges the physical and digital realms to provide seamless, efficient, and impactful healthcare solutions. At HCL Healthcare, we strive to shape a healthier future for India's corporate workforce, thereby contributing to the overall well-being of our community.

BT: How does HCL Healthcare support corporate health strategies post-pandemic?

SM: The onset of the pandemic has significantly contributed to building awareness of preventive care among Indian corporates. Today, different organizations are at various stages in their employee benefit journey. Our focus is on helping them navigate spending and create the right offerings. We intend to differentiate ourselves by raising the standard of care and demonstrating the direct correlation between a healthy workforce and enhanced corporate performance. With a strong in-house clinical team of over 450 well-trained doctors, we ensure quality control. Additionally, by highlighting the vital role of healthcare in achieving strategic business objectives, we aim to shift corporate perspectives, making health a cornerstone of corporate policy and culture.

BT: How do your nonprofit successes relate to your aspirations for transformative work in preventive health?

SM: The nonprofit initiatives we have undertaken have resulted in the establishment of successful and nationally recognized brands, such as Shiv Nadar University, Shiv Nadar Schools, and VidgyaGyan. I observe similar motivations in the preventive health sector, where individuals aspire to engage in transformative work for nation-building.