4 Bundamedik Business Growth Strategies to Pursue IDR 350 Billion EBITDA
PT Bundamedik Tbk (BMHS) is targeting an EBITDA of Rp 350 billion for 2023. As conveyed by the Managing Director, Nurhadi Yudiyantho, the company achieved an EBITDA of Rp in the year's first half. Rp 169 billion can grow another 10% in the second half compared to the previous year.
From these additions, EBITDA could reach IDR 350 billion at the end of the year. In 2023, the company expects revenue to increase by 20% -30% compared to last year.
This target was strengthened by the company's EBITDA Margin footprint, which remained at 23% in the first semester of 2022, and by consistent EBITDA growth, which has increased by 1% yearly.
4 Bundamedik Business Growth Strategies
To pursue an EBITDA of Rp 350 billion at the end of the second semester of 2022 and to increase the company's profit by 20-30% in 2023, the BMHS company has four strategies. The following will be done to grow the company's business.
1. Transformation of Customer Journey
The first strategy undertaken by Bundamedik is strengthening the core business. The company focuses on transforming the customer journey in obtaining health services in the BMHS ecosystem by providing an integrated system of digital services using the ehealth.bunda.co.id application. Its use alone has increased by more than 100% (QoQ).
Based on the survey, patient satisfaction rates from ordering services, making appointments, and doctor consultations are above number 4 (on a scale of 1-5). The waiting time from the registration stage to completion has decreased by 50%.
This means that service is getting faster, which is what often becomes a problem for various health facilities. Patients must wait a long time to get medical personnel services for consultation and action, so the ehealth.bunda.co.id application. is expected to be the best alternative for the future.
2. Collaboration with Academic Institutions
The second strategy carried out by Bundamedik is to add collaboration channels with the Faculty of Medicine UNAIR, UI, and IPB University. Collaborate in the fields of education, research, and community service.
The collaboration aims to assist the development of medical science, especially in scientific research. The partnership is expected to positively impact educational institutions as well as the result of corporate health service innovations and be beneficial for the development of Indonesia's health world.
Bundamedik Healthcare System Tbk (BMHS) has a complete healthcare ecosystem. From laboratory examinations, IVF, exceptional hospitals for women and children, general hospitals, medical evacuation, and a wide network of clinics. It is hoped that academic institutions cooperating with BMHS will have access to developing human resource capabilities and skills.
Medical experts and professionals will assist in implementing scientific practice in the health sector from various medical faculties. This collaboration is a form of understanding between the two parties so lecturers and students can use the BMHS health service network facilities.
Strategic cooperation is carried out as an initiative to develop competent and highly competitive health human resources.
The collaboration was carried out to prepare young Indonesian doctors with the latest knowledge and competencies in the field of medicine, as well as being a milestone for BMHS, which has close ties with various educational institutions, especially FKUI.
3. Increase Medical Partners
The third strategy is in terms of strategic partnership deepening. BMHS continues to increase the scope of cooperation with several leading partners in the health service sector, including digital-based clinic networks.
Through Bunda Pintar, the result of collaboration with the Smart Clinic, BMHS now has more than 150 clinics in various parts of Indonesia. This proves that the company is trying to reach the broadest possible community to even out the distribution of adequate health facilities.
Ease of service to the public as patients is supported by business expansion or expansion by adding medical partners. The development, which was carried out through 126 Indonesian Fertility Clinics in various regions of Java and outside Java, also resulted in a total of 6,300 fertility consultation services.
The health sector, especially fertility services in Indonesia, is still minimal. This condition is an opportunity for Bundamedik to enter various market segments, not only the upper middle class.
4. Improving Post Acquisition Hospital Standardization
The fourth strategy is to acquire hospitals intensively and establish new hospitals. Some successfully developed hospitals include RSIA Azzahra Palembang, RSJP Paramartha Bandung, RSU Citra Harapan Bekasi, and Bunda Morula Hospital Surabaya.
With this acquisition, the revenue growth target in 2023 is projected to increase by 20-30%, and EBITDA growth to reach 24%. Apart from making acquisitions, the company is also expanding the standardization of new hospital services.
So that the management system for service quality is the same as that implemented by BMHS. Thus, it is easier to monitor business developments and increase profits.
BMHS is also building the Vida Bekasi General Hospital and is still processing permits for the Denpasar Bunda Hospital. The Denpasar Mother Hospital will change its name to the Mother and Child Hospital (RSIA) Denpasar Mother.
As of semester I of 2022, BMHS has realized a capital expenditure budget or Capex of IDR 318 billion. The allocation is for acquiring hospitals and purchasing medical equipment, which is also one of the steps to achieve Bundamedik's growth of 20-30%.
dr. Harmeni Wijaya, M.D
PT Bundamedik Tbk