Pritika Singh eyes overseas expansion for Prayag Hospitals along with pan-India outreach plans
New Delhi: With her eye on overseas expansion along with pan-India outreach plans, Pritika Singh has some grand plans for Prayag Hospitals Group this year. The 31-year-old CEO of one of the leading hospital chains in Western-UP has been charting plans for expansion ever since the Covid-19 numbers dipped and travel across the world resumed, last year. Along with the international expansion, the Hospital group also has plans to open five new hospitals in Western Uttar Pradesh and Uttarakhand in India in the next 5 years.
Singh, an award-winning healthcare entrepreneur and a game-changer in the male-dominated space became the CEO of Prayag Hospitals Group at the age of 23. She proved that one doesn’t need to be a doctor or physician to make a mark in the healthcare sector. Passionate about mental health and yoga, she entered the healthcare industry in 2009 at the age of 18. She is currently heading the Prayag Hospitals Group but had to face lots of hurdles and challenges before making it to the top.
Pritika completed her Graduation from IILM Delhi in Business Management studies and her Post Graduation in Global Business Management from Regents Business School, London.
“I knew that it is difficult for someone from non-medical background to enter this space, but I leveraged my business acumen and strategic thinking and took Prayag Hospital to another level. Both my parents are doctors, and they even had some apprehensions when I decided to take over the reins of the hospital. The equation has completely changed today as the brand name is not only limited to Western-UP today, but it will also go places,” said Pritika Singh.
Pritika Singh also focuses on the significance of entrepreneurship in healthcare. “While doctors nowadays have immense pressure of patient safety, treatment, and management of diseases, hospital management experts are helping them fulfill their duties by innovative strategies and out-of-the-box thinking. Pritika notes that doctors can perform their best when they take less stressful work in a stress-free environment,” she notes.
The young health entrepreneur has won multiple awards for her contribution to the healthcare sector.
The hospital industry in India, accounting for 80% of the total healthcare market, is witnessing a huge investor demand from both global as well as domestic investors. The hospital industry is expected to reach $132 Bn by 2023 from $61.8 Bn in 2017, growing at a CAGR of 16-17%. The Indian healthcare industry is expected to grow to hit USD 50 billion in size by 2025. This holds immense potential for healthcare entrepreneurs to reap benefits from this growth through channelizing investment and focus on appropriate expansion for exponential growth in the coming time.
A big advocate of mental health, Singh believes that it needs attention in the healthcare space. Pritika expresses pride in having transformed the Prayag Hospitals Group by adding mental health to its priorities. Today, the hospital has a dedicated space and department for addressing mental health issues, with affordable and quality treatment for the masses. Under Pritika’s leadership, the hospital today has a special ward where patients who are not very critical are treated. The hospital doesn’t charge doctor fees, nursing fees, or bed fees; only food and medicine costs are there.