Financial Performance Analysis of the Largest Clinical Laboratory in Indonesia, PT. Prodia Widyahusada, Tbk. Prior and During Pandemic Covid 19 for the periods of 2018-2022

Due to the high demands on the testing of specimens and the requirement for a faster analysis of the COVID-19 results during pandemic, the Ministry of Health appointed 45 laboratories as national referral laboratories in mid-March 2020 including Prodia. Although Indonesia’s economy during pandemic contracted to minus 5.3 percent in the second quarter of 2020 and minus 2.1 percent in the whole 2020, Prodia’s revenue during the year rose by 7.4 percent started in Q3 supported by outpatient visit after relaxation on Government’s lockdown policy. This development gave remarkably advantage for the company’s operating performance as revenue rose 41.6 percent in 2021. Furthermore, this research is conducted to identify the full impact of Pandemic towards Prodia’s financial performance. Likewise, this research is also aimed to map other business ecosystem which could possibly become the future of the company’s revenue stream that was already sparked by Pandemic such as digital business. During COVID-19 pandemic, many established and new players in the market expanded their diagnostics capacity owing to the huge surge in demand, augmenting the growth of the market studied in the region. This development in the industry requires proper strategy response from Prodia to win competition, maintaining the company’s market share and further accelerating long-term profitability.