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A Novice’s Experiment with Affordable Healthcare
 

A Novice’s Experiment with Affordable Healthcare

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"A Novice's Experiment with Affordable Healthcare” - Dr. V Renganathan, Co-founder, Vaatsalya Healthcare Solutions

"A Novice's Experiment with Affordable Healthcare” - Dr. V Renganathan, Co-founder, Vaatsalya Healthcare Solutions

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    A Novice’s Experiment with Affordable Healthcare A Novice’s Experiment with Affordable Healthcare Presentation Transcript

    • A Novice’s Experiment With Affordable Healthcare V. Renganathan Co-Founder, Vaatsalya Healthcare Solutions Presented at Lounge47.in on 1st February 2014 Copyright © Mr. Dr. V Renganathan
    • Enabling access to affordable healthcare Vaatsalya Healthcare Solutions Presented at Lounge47.in on 1st February 2014 Copyright © Mr. Dr. V Renganathan
    • Indian Healthcare Expenditures Year 2008 2012 2017 • • • • • HC Expenditure ($) 45 B 79 B 158 B Annual Growth rate: 15% Increasing income Insurance availability Availability of good hospitals Availability of highly skilled doctors Presented at Lounge47.in on 1st February 2014 Copyright © Mr. Dr. V Renganathan
    • Healthcare Services Distribution Indian Population: 30% Urban & 70% Rural Hospitals: Mostly Urban & Tertiary Care Demand: Mostly Primary & Secondary care Semi-urban & Rural areas lack healthcare facilities & when available may not be of good quality Presented at Lounge47.in on 1st February 2014 Copyright © Mr. Dr. V Renganathan
    • About Vaatsalya • Mission: Create a network of for-profit hospitals providing customer-oriented, ethical, affordable, and efficient healthcare services in semi-urban and rural areas • Number of hospital units operational: 15 • “Accessible, affordable, human-touch, & respect” Presented at Lounge47.in on 1st February 2014 Copyright © Mr. Dr. V Renganathan
    • Vaatsalya Business Model • Location: Tier II and III cities with 200K population • 50-100 bed hospitals • Specialties: General medicine, Gynecology, Pediatrics, and General Surgery • Offer 70% of needed healthcare services • Other Specialties: Nephrology, Urology, Pediatric Surgery Presented at Lounge47.in on 1st February 2014 Copyright © Mr. Dr. V Renganathan
    • Founders/Management Team Dr. Ashwin Naik, Co-Founder & CEO • Physician, scientist, and entrepreneur - VP of Business Development at Triesta Sciences - Human Genome Project, Celera Genomics, USA Dr. Veerendra Hiremath, Co-Founder & VP, Projects • Physician & Hospital admin - Vivus Group Hospitals, and Asia Heart Foundation Presented at Lounge47.in on 1st February 2014 Copyright © Mr. Dr. V Renganathan
    • Founders/Management Team Dr. Renganathan V VP Alliances Scientist turned manager - Asso. Prof, Biochemistry at Oregon Graduate Institute, Portland, USA - 40 publications & 6 PhDs - Program manager, Intel, Portland, Oregon, USA - PhD from Indian Inst. Of Science, Bangalore - MBA from Portland State University, Portland, Oregon, USA •. - Presented at Lounge47.in on 1st February 2014 Copyright © Mr. Dr. V Renganathan
    • Vaatsalya Hospitals (12) Karnataka Presented at Lounge47.in on 1st February 2014 Copyright © Mr. Dr. V Renganathan
    • Vaatsalya Hospitals (4) – A.P. Rajmundhry Presented at Lounge47.in on 1st February 2014 Copyright © Mr. Dr. V Renganathan
    • Facilities Presented at Lounge47.in on 1st February 2014 Copyright © Mr. Dr. V Renganathan
    • Vaatsalya Hospital, Hassan Bharathi Healthcare Complex, Opp to Sandalkote Presented at Lounge47.in on 1st February 2014 Copyright © Mr. Dr. V Renganathan
    • Vaatsalya Hospital, Hubli IMZ Plaza, Next to New Bus Stand Presented at Lounge47.in on 1st February 2014 Copyright © Mr. Dr. V Renganathan
    • Vaatsalya Hospital, Mandya Pragathi Healthcare Complex, G. H. Road Presented at Lounge47.in on 1st February 2014 Copyright © Mr. Dr. V Renganathan
    • Reception, Shimoga Presented at Lounge47.in on 1st February 2014 Copyright © Mr. Dr. V Renganathan
    • Neonatal ICU, Gadag Presented at Lounge47.in on 1st February 2014 Copyright © Mr. Dr. V Renganathan
    • NICU – Vizianagaram, AP Presented at Lounge47.in on 1st February 2014 Copyright © Mr. Dr. V Renganathan
    • ICU, Gulbarga NICU, Gulbarga Presented at Lounge47.in on 1st February 2014 Copyright © Mr. Dr. V Renganathan
    • Awards & Accolades  Top 100 startups – TATA NEN Hottest Startup 2008  Sankalp Award for Social Enterprise 2009  Rashtriya Samman Puraskar 2009  Frost & Sullivan India, Excellence In Healthcare Award 2010  India Fast Growth 25 (# 5 Ranking) 2010  Ashwin Naik selected as a global Young Leader by WEF (2012)  Porter Prize for Value Based Healthcare (2012) Presented at Lounge47.in on 1st February 2014 Copyright © Mr. Dr. V Renganathan
    • Presented at Lounge47.in on 1st February 2014 Copyright © Mr. Dr. V Renganathan
    • Presented at Lounge47.in on 1st February 2014 Copyright © Mr. Dr. V Renganathan
    • Presented at Lounge47.in on 1st February 2014 Copyright © Mr. Dr. V Renganathan
    • Affordability in a Hospital Context • • • • • Affordability depends on target segment Target segment for Vaatsalya: Rs 36 – 120K/year BPL income: 17K a year Our customer earns 2x – 7x that of a BPL family Vaatsalya is affordable by APL segments Presented at Lounge47.in on 1st February 2014 Copyright © Mr. Dr. V Renganathan
    • Understand Healthcare Service Costs Service Price = Total Cost = Total cost of operations + Provider profits Fixed Cost + Variable Cost + Indirect Cost Fixed costs: Professionals, Mortgage/Rent, Depreciation Variable costs: Medicines, Consumables Indirect Costs: Water, electricity, Corporate expenses (Expected) Provider Profits α Investments Presented at Lounge47.in on 1st February 2014 Copyright © Mr. Dr. V Renganathan
    • Vaatsalya Approach to Cost Control & Profit Optimization Strategy Impact Don’t own but lease building Low investment requirement Buy only reliable Indian made equipment Lowered capital expenditure Negotiate volume discount Lowered capital & variable expenditure No costly equipment (eg; MRI) Lowered capital expenditure Doctors on revenue share Lower fixed expenditure Control corporate expenditure Lower operational expenses Presented at Lounge47.in on 1st February 2014 Copyright © Mr. Dr. V Renganathan
    • User Challenge to Provider • 1. Offer good quality accessible services at affordable prices 2. That offer should be available wherever I move in my community – That means scalable Presented at Lounge47.in on 1st February 2014 Copyright © Mr. Dr. V Renganathan
    • User Expectations: Healthcare Service Cost as low as possible High Quality Home Hospital Easy Accessibility User’s Street Presented at Lounge47.in on 1st February 2014 Copyright © Mr. Dr. V Renganathan
    • What is Quality? User yardsticks of Quality • Cure rate or how fast I got cured • Clinical Diagnosis Skills • Hospital Cleanliness A quality provider follows recommended guidelines of diagnosis & treatment What are the impact of quality measures on cost? Presented at Lounge47.in on 1st February 2014 Copyright © Mr. Dr. V Renganathan
    • Accessibility to Services • Physical as well as services accessibility • Physical accessibility means hospital in the neighborhood itself or if transportation is available easy access through roads How does accessibility impact costs ? Closer the healthcare facility to the user higher the costs Presented at Lounge47.in on 1st February 2014 Copyright © Mr. Dr. V Renganathan
    • Urban Health Issues Communicable/Infectious diseases Prevention Acute Care •Long-term •No significant role for Provider •Short-term •Predominant role for Provider • OP & IP care Non-Communicable Prevention •Long-term •Significant role for Provider • OP care • Diagnostics Presented at Lounge47.in on 1st February 2014 Copyright © Mr. Dr. V Renganathan Chronic Care •Long-term •Significant role for Provider • OP & IP • Diagnostics
    • Urban Healthcare Delivery Model Peri-urban Spaces Full fledged secondary care hospitals with OP & IP care • Low-cost clinics • 1-2 docs, ANM, Nurses • Clinics with OP care • Diagnostics • Medical management • Diet/exercise consultation • OP chronic care treatments Presented at Lounge47.in on 1st February 2014 Copyright © Mr. Dr. V Renganathan