With over two decades of experience across diverse industries, M B G Wickramasiri has become a dynamic force in financial leadership. As the Group Chief Financial Officer at Lanka Hospitals PLC, one of Sri Lanka’s premier healthcare providers, his journey is a testament to his determination, resilience, and passion for driving business performance and operational excellence. Throughout his career, he has not only redefined the role of a CFO but also embraced the challenges of the healthcare industry, bringing forth strategic innovation, operational efficiency, and financial prudence.
Wickramasiri’s career spans over 20 years, with 12 years dedicated to the healthcare sector. His leadership style, characterized by bold decision-making and innovative thinking, has been pivotal to the growth and transformation of Lanka Hospitals. As the steward of the hospital’s financial and operational strategies, he plays a key role in navigating the complexities of the healthcare market, ensuring that the organization remains at the forefront of technological advancements while staying true to its mission of providing affordable, quality healthcare.
One of the pivotal moments in Wickramasiri’s leadership at Lanka Hospitals was tackling concerns around financial sustainability. Acknowledging that the expansion of lab operations was outpacing resource allocation, he implemented a series of process improvements aimed at enhancing efficiency. This initiative faced some resistance, as organizational changes often do, but his data-driven strategy and transparent communication helped garner the necessary support. Through his foresight, Lanka Hospitals was able to improve financial performance without compromising its dedication to patient care.
Wickramasiri has played a key role in driving key technological advancements at Lanka Hospitals. The recent implementation of SAP is a move that significantly improved the hospital’s financial and operational efficiency. Understanding the importance of innovation in the fast-evolving healthcare industry, Wickramasiri is now actively involved in efforts to acquire a new Health Information System (HIS) that incorporates the latest technological advancements. This system will enable Lanka Hospitals to better manage patient data, streamline processes, and enhance the overall quality of care.
Wickramasiri’s expertise is not confined to financial management alone. His role as CFO has also encompassed strategic operations, corporate planning, risk management, and even sales and marketing. Having worked at global healthcare institutions like the American Oncology Institute and Tree Top Hospital, as well as two of Sri Lanka’s leading healthcare organizations, Durdans Hospital and Asiri Health, he gained invaluable experience. This diverse exposure enabled him to seamlessly integrate these global best practices at Lanka Hospitals, elevating its operational standards. His time at PwC in audit and assurance also gave him a robust foundation in financial governance, enabling him to lead with precision and accountability.
Among his achievements at Lanka Hospitals was the acceleration of the lab network’s expansion. Traditionally, opening a new lab could take several months, yet under Wickramasiri’s guidance, 24 new labs were successfully launched within a span of three months. This accomplishment, rooted in careful planning, strategic resource management, and effective teamwork, reflects his capacity to deliver results even in demanding circumstances, all while maintaining a strong emphasis on operational excellence.
Balancing profitability with ethical responsibilities is one of the greatest challenges in the healthcare sector, and Wickramasiri has consistently risen to the occasion. In a market as complex as Sri Lanka’s, where price ceilings, high taxes, and rising costs present significant obstacles, he has managed to steer Lanka Hospitals toward sustained growth. Despite not increasing prices in the last two years, the hospital has remained profitable by enhancing operational efficiency and controlling costs. Instead of passing on these costs to patients, he focused on increasing volume, thereby maintaining affordability without compromising the quality of care.
The challenges facing Sri Lanka’s healthcare industry are multifaceted. From the imposition of VAT on medical equipment and medicines to high taxes on personal income, which have led to an exodus of skilled professionals from the industry, Wickramasiri has had to navigate numerous external pressures. The depreciation of the Sri Lankan rupee and rising global logistics costs have further complicated the landscape, driving up the price of medicines and medical supplies. These factors have squeezed margins and limited investment in new technologies, yet his strategic approach has ensured that Lanka Hospitals continues to innovate while remaining financially resilient.
Wickramasiri’s vision for Lanka Hospitals is one of sustainable growth and continued innovation. His passion for delivering excellence, both in terms of financial performance and patient care, is evident in every aspect of his leadership. He envisions a future where Lanka Hospitals not only expands its footprint but also sets new benchmarks for healthcare in Sri Lanka by embracing the latest technological advancements and maintaining a patient-first approach.
As a leader, Wickramasiri embodies the qualities of resilience, innovation, and ethical responsibility. His extensive experience, both locally and internationally, has shaped him into a well-rounded and forward-thinking CFO, capable of steering Lanka Hospitals through the challenges of the modern healthcare landscape. With his commitment to excellence, Wickramasiri is poised to lead Lanka Hospitals to new heights, ensuring it remains a leader in the healthcare industry for years to come.