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Turning silver into gold

Industry News 2015-03-31

A young physical therapist in Hong Kong has shown wisdom and empathy beyond his years in his mission to improve the quality of life for the elderly

On a large purple cruise liner docked at North Point Ferry Pier, more than 100 senior citizens listened attentively to a young man lecturing on how to ease joint pains.

Occupying center stage was 31-year-old Gary Lo. In the past year, Lo and his team have held 30 community talks sponsored by governments and enterprises, but he has not earned a penny from them.

MyoFix HealthPro - the company Lo founded in 2009 - is among thousands of firms tapping Hong Kong's silver-haired sector, instead of traditionally lucrative niches like the young and rich.

"Society's aging problem will definitely offer more business opportunities," Lo said. "The demand will come from old-age homes and centers as well as the elderly. And there's a tendency among the elderly here to shift rehabilitation plans from old-age centers back to their homes."

Lo was inspired by customer feedback to expand by offering conventional rehab services, saying demand for such services has been rising over the years.

"As old-age homes may not be able to satisfy the needs of senior citizens, they demand better services. So they prefer to stay at home, which is more comfortable for them and, moreover, they can stay with their families. But if they stay at home, they still have to hire a professional healthcare provider to take care of them," Lo said.

"Elderly people discharged from hospital after a stroke still need to continue with their lives, but limited body functions will inevitably affect their quality of life."

Their only choice in the past was to go to an old-age home as their families did not have either the time or proper knowledge to look after them.

"I was very often asked: 'We don't want to see our parents leaving us by going to a care center for the elderly. Could you provide us with better services at home?'"

Lo realized that if he could assemble a large number of professional therapists and allow customers to specify the medication and amount of exercise the elderly need, he would be able to play a bridging role in a new business and unlock the huge potential of a private home market.

Eight years after getting a degree in physiotherapy from Hong Kong Polytechnic University - the only academy in the city at present that offers training courses for registered physical therapists - Lo's monthly income has surged to HK$80,000 from a starting salary of HK$15,000.

After graduation, he became a registered physical therapist and began working at public and private hospitals. He subsequently quit his full-time job and worked on a freelance basis.

In 2009, with his own savings of HK$400,000 and support from his family, Lo embarked on his journey as a veteran therapist and greenhorn entrepreneur.

"'Myo' stands for muscle and 'Fix' means cure," he explained.

Lo started by offering traditional rehab services, grouping several therapists and sending them to old-age homes to provide physical therapy when required.

Then 25, Lo admits having a rocky start after being swamped with the task of having to run his own business.

But, what he failed to see on the horizon were the challenges of managing a company. "To manage people is an art that no one can teach you," he said.

"Most of my employees were born in the post-90s and post-80s. I had to cultivate a positive work attitude to motivate them," Lo said, adding that encouragement is crucial to developing strong ties with staff.

The company broke even after 18 months, with a monthly revenue today of up to HK$300,000.

Having built up the brand and achieved stable revenue inflow, Lo noticed growing inquiries about piecemeal services.

When MyoFix was launched, elderly patients discharged from hospital had to check into an old-age home to receive physiotherapy, or their family would have to hire a full-time therapist, which was unnecessarily expensive.

Lo soon realized it would be profitable to offer visiting services to tap the sector's private home market.

He then decided to go flexible based on his judgment on the nature of the job. Currently, he employs more than 100 registered therapists and assistant therapists, but only five of them work full time at MyoFix and are on the shortlist when temporary work requires them to show up.

Lo anticipates that slim growth in the local talent pool will remain unchanged in the coming years. "We still don't have enough therapists in Hong Kong," he complained. With only some 100 graduates entering the market each year, the gap promises a handsome income for young professionals.

In 2011, Lo was among the first to give health talks at local companies, offering a new business model to customize wellness plans for office workers.

Apart from maximizing independence in the daily activities of senior citizens, Lo's determination to prevent injuries and dysfunction forced him to explore this new business model which, he believes, is the most effective way to promote health and well-being.

Lo found it is "rather ironic" that some affluent stroke patients he had met were millionaires who, despite their wealth, may depend on health professionals for the rest of their lives.

"It's sad to see successful businessmen, the financial elite and even ordinary office workers having serious back problems or suffering a stroke in their early 40s and 50s."

The idea took shape as Lo started reaching out to human resources (HR) departments at local companies and introducing his corporate wellness programs.

"We would customize corporate wellness programs through discussions with their HR departments and come up with a plan that would include regular health talks and on-site health checks, and occasionally health fun days - to get people to move away from their computers," Lo said.

The challenging part is to make the exercise fun and attractive, he said. "For instance, instead of just giving out diet plans, I told one of the dietitians to make a dish of recommended food."

Big corporate names, like Sun Hung Kai Properties, Jardine Group, the Hong Kong Stock Exchange and PCCW, obviously like the idea.

"From HRs' point of view, they hope to reduce the sickness rate and raise staff loyalty," Lo said.

But it's not all about the bottom line. Lo also deeply believes in giving back to the community. Having made speeches at many public housing estates and charity events to give health advice, Lo and his team expect to organize community health talks in every district this year. The speech on the cruise liner at the North Point pier was part of that initiative.

"I believe the trick is to understand every party's needs," Lo said, adding that although they are not profitable, the company can pull through free talks with support from sponsors seeking exposure and advertisement, while citizens do not have to pay for health information.

The biggest lesson Lo learned from constant participation in various startup competitions was to consistently critique and motivate, and forge ahead to address the issues one recognizes that society faces.

"I didn't join to win. I was there to listen to suggestions from advisers and making incremental progress along the way to improve my business," he said, pointing at a trophy of Merits Award in HSBC Youth Business Competition he had won four years ago.

 

From: China Daily

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