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Indonesia’s renowned healthcare service provider for seven consecutive years, SMU Healthcare, is a champion in diagnostic and therapeutic solutions and has elevated its capabilities to be at the forefront of providing integrated health infrastructure and services. Acclaimed for its expertise in providing equipment and consumables, servicing, operations, and health services, the company has nurtured itself as a reliable name in installing and operating advanced healthcare facilities.
A noteworthy name in the healthcare segment, Edward, CEO of SMU, is an industry veteran with 25 years of managerial, operational, and professional expertise, including project start-up, project expansion, and operation. Edward became part of SMU Healthcare in 2019. Carrying the legacy of the founders to new heights, Edward strengthened the business’s emphasis on offering operational solutions customised to the needs of the partners so they could concentrate on their mission: delivering the highest level of service.
During the past three years, Edward has led the company as CEO, bringing it to its present position of excellence. He has won numerous honours for the businesses and has been named OMG magazine’s CEO Pick of 2022. He possesses strong management abilities, including the tactical provision of resources, and out-of-the-box daring solutions. He keeps mentioning the contribution of his key leaders on many successes on difficult projects and unique programs. He has managed a portfolio of greenfield projects, including M&A and acquisitions, which is worth $915 million USD. Edward spends extra time being involved in several CSR projects and he involves in senior positions in several NGOs.
The SMU Healthcare business model is redefining how private and publicly owned hospitals expand. They offer free infrastructure so that hospitals can offer new procedures and services, even though they get a portion of the revenue. By enhancing access and quality, they promote positive transformation.
Cruising the Voyage of the Great
Following 15 years in the US, Edward made the decision to go back to Indonesia following the global financial crisis of 2008. He began his first career in the Indonesian healthcare industry in 2011 when he joined the Siloam hospital group. He was involved in the organization’s business expansion and helped it double to 14 facilities by 2013. As a part of the Mayapada Hospital Group, he supported the establishment of the first corporate team and transformed the space into one that was expansion-ready. In 2017, he cofounded the UniMedika hospital group that believes private hospitals can thrive by providing services for the members of BPJS (the Badan Penyelenggara Jaminan Sosial or Social Security Administration Agency). Then, under private equity, he led a significant transformation of a portfolio company that was sinking and badly performing into a positive EBITDA only after 10 months in the COVID-19 era. The company was mismanaged, badly structured, damaged by fraud, and not operationally sound. Radical decisions were made to save the company, and today it sails forward into potentially becoming the largest PPP (Public Private Partnership) provider in healthcare in Indonesia.
The Inspiration behind Joining the Healthcare
Entering the sector was done unintentionally back in 2011. But since then, Edward has found a purpose in helping fix healthcare, as it is a crucial need for a population of over 270 million people where there is a high demand for healthcare services, providing opportunities for entrepreneurs and healthcare professionals to contribute to the expansion and development of the sector.
After 2011, the Indonesian healthcare industry grew rapidly, fueled first by private sector participation and then, in 2015, by government participation in the establishment of universal healthcare coverage. This expansion is anticipated to continue in the upcoming years. Working in the healthcare sector offers a certain sense of fulfilment because one is tangentially involved in improving people’s lives.
The Indonesian healthcare industry still has gaps that present opportunities for innovation, particularly in the areas of technology and business models. Entrepreneurs can bring new products and services that address the unmet needs of such a huge population and improve the efficiency and effectiveness of healthcare delivery.
Key Challenges of the Healthcare industry in Indonesia
- The government’s healthcare coverage does not quickly give approval on many ready access points; for example, on several Cath Labs and radiotherapy units, there are indications of stalling the process of approving them to be used by the public who would be using government healthcare insurance. This can lead to discouragement for hospital operators and investors who want to add special healthcare services.
- While more medical professionals choose to practice in established locations, more developed regions have better access to healthcare than less developed ones. Overall, a shortage of healthcare professionals is not yet addressed proactively.
- The government’s funding for healthcare is quite little in comparison to other nations, which has led to little investment in healthcare workers and facilities. This is resulting in overcrowding.
To tackle these challenges, Indonesia’s healthcare system will need to undergo major investment and reforms, including the creation of stronger policies, greater funding, improved access to healthcare services and increased training of healthcare professionals. Individually, the development will proceed in a better way by actively participating in the transition process.
Words of Wisdom
“Be a solution to your customers’ real problem and always make them the centre of your business.”
Entrepreneurship can be exciting and challenging, but the end goal is not about getting the start-up fever: fresh ideas and big funding. The ultimate goal is to create value for your customers.
Entrepreneurs cultivate a mature and open mindset, accept failure as a lesson, and seek advice and mentorship from other businesspeople who place a strong emphasis on their customers or from professionals in their field.
Entrepreneurs may have pioneered a new way, but it should be carefully calculated as there may be unforeseen risk, hidden challenges, high costs of educating the market, a lack of historical data and experiences, minimal industry standards, and minimal regulatory support.
