Healthcare is an essential service expected in any country and its efficacy depends a lot on the trust placed on the system. No doubt, Brand Trust is also impacted by the quality of delivery, but the reverse is true only for very few categories like healthcare. The more trust in the healthcare system, the better will be the outcome.
Slow but sure outcomes can be brought about by building Composites of Brand Trust like Empathy, Non-Threatening Ambience, Sincerity and Competence. Despite the high importance these intangibles have in the healthcare industry, this category has the second smallest representation among India’s top 300 Brand Trust list. Quite astonishingly, the category’s brand Trust Index is among the lowest, though normal logic would dictate that if a category’s Brand Trust impacts its fortunes, it would get sufficient focus and be in the higher trust bracket.
Despite the importance of Brand Trust in this category, only 5healthcare brands make it among the toppers. Of these, only one Apollo, is a healthcare delivery entity and the other four are either pharmaceutical companies or medical product manufacturers.
While individual brands move their own agenda, it is important for the category to come together to build Brand Trust in healthcare as a whole. With resources invested towards building Category Trust, healthcare consumers, companies and the investors will benefit directly.