Beyond Medical Group: SME Excellence Business Award 2022/2023
Like all professionals who are wholly committed to their craft, doctors tend to be laser-focused when working in a medical capacity. Whether they are general practitioners, plastic surgeons or thoracic surgeons, there is a constant demand for doctors and their services, which further engrosses them into the bustling world of medical practice. As such, doctors may not have the time or energy to engage in the business side of the trade – that is, cultivating a strong brand – limiting the commercial potential of their clinic.
Enter Beyond Medical Group (BMG), an investment holdings group with a portfolio of private specialist clinics, medical aesthetics clinics, medical-spa branches in Singapore.
Founded in 2013, BMG invests in promising doctors with the potential to thrive with their own clinics and works to bolster its brand with incisive marketing strategies, strong investment and financial backing, and a vast network of shared services.
To find out more about the company, Vision Media spoke to BMG’s Chief Executive Officer Elayne Soh, who also shared with us her fascinating journey in the healthcare industry thus far.
Growing Healthcare Brands
BMG was established with the understanding that healthcare goes beyond just patient consultation and treatment. “Like any other brand, it’s not just about the product. There are intangible aspects that set you apart from the rest — in this case, it’s quality patient-centric care and service excellence”, explains Elayne.
There is a large focus on clinical management, allowing the doctor to do what they do best – being a doctor – while BMG takes care of the rest. This encompasses everything from building the clinic brand from the ground up, to connecting them with partners in the right industries, assisting in both strategic and operating levels.
The company serves as a headquarters, supplying clinics under its investment portfolio with shared services to build its branding, allowing doctors to be fully immersed in their clinical work without having to worry about the commercial or management aspects of having their own clinic.
Elayne adds, “By going private, doctors are given autonomy to develop their own care paths and treatment protocols.” Doctors with their own clinic can carry out their practice according to their beliefs and core values which, in turn, instils more confidence and trustworthiness with their patients. At the same time, this allows doctors to provide the best care possible, on their own terms.
Once a doctor has agreed to start a clinic with BMG, the company will provide extensive support to grow the nascent business. In addition to the financial support, BMG has a large marketing department, replete with digital marketers, copywriters, videographers, and many other professionals who will work to develop the clinic’s brand — all of whom have expertise in healthcare marketing and building healthcare brands. This comprehensive scope of services covers all facets of modern marketing, giving the clinic an edge over its competitors.
“If a doctor wants to hold an event, whether physical or virtual, they can simply give us a call and we will gladly prepare everything for them. It is as if the clinic has its own marketing department with deep industry knowledge, rather than an outsourced one,” says Elayne. “They then help with conceptualisation and execution of integrated marketing campaigns that help raise awareness for the brand, which is especially important for clinics that have just started out.”
As part of its shared services, BMG also offers human resource functions and general accounting services to its clinics. Various HR functions such as recruiting and manpower planning can be outsourced to BMG for more cost efficiency, and provide general accounting services for things like account payable and receivables and general ledger can also be handled by the company. For example, BMG headquarters will seamlessly assign a part-timer to replace clinic staff should one be needed promptly.
During Elayne’s tenure of just over 24 months, Beyond Medical Group grew from an entity with three doctors to nine. It continues to expand, working with doctors who start their private practices in realising their true potential, while ensuring their current portfolio of clinics remain profitable and competitive.
Fuelled by Passion and Positivity
As the CEO of BMG, Elayne oversees the company’s business development and operations strategy. And although she runs a complex operation with many moving parts, Elayne approaches her work with the passion and gusto of someone deeply fascinated by the healthcare industry.
“Many years back, I identified the healthcare sector as the place to be in, as it was a sunrise industry,” notes Elayne. “With that in mind, I tried to experience what the healthcare industry was like for myself and ended up working at a public hospital for six years. I was captivated by what I saw there.”
Elayne was headhunted to join BMG, in part due to her background in marketing strategy. Naturally, the healthcare marketing aspect of BMG appealed to her, as it combined her passion for healthcare with her area of expertise.
That being said, Elayne has brought more than just passion and enthusiasm to her new role. Her empathetic approach to leadership has allowed her to foster a positive work environment in her company. She also believes in the “work hard, play hard” mentality, which many of the millennials in her company have taken well to. “It is important to understand them, to find out what makes them tick,” she adds.
Elayne explains, “In today’s workforce, the ability to motivate different people on different levels is extremely important.” This involves gaining a deeper understanding of her staff and getting to know each of them on a personal level.
Perhaps the most important motivator that Elayne harnesses is her own infectious positivity. As someone who frequently listens to motivational podcasts, Elayne hopes that, just as how the zeal of her favourite podcast host rubs off on her, her own positive outlook in life will rub off on her colleagues and spur them on to greater heights.
“Problems aren’t a bad thing. In fact, every problem is a gift and an opportunity to provide a solution and grow. It’s up to you to take it and turn it into something good,” Elayne encourages.