Entrepreneurship in Healthcare

Dr Sanjeev Singh

Where are the entrepreneurs..

• Medical Care – Inefficiency• Costs are higher; Outcomes unmeasured• New ideas are minimal

• More focus towards volume of care rather than value

• Low commitment towards quality in delivery

David M. CutlerDepartment of Economics

Harvard University

What are we looking at..

• Innovating in healthcare• Finding what’s needed• Prioritizing needs• Sizing up the market• Designing an innovation• Gaining commitment

Holmes et al. Journal of Innovation, 2012

The Conditions are Set for an Epic Decade

“There has literally never been a better time in history to be an innovator or entrepreneur in the healthcare space” -- Todd Park, U.S. CTO

ChangeHealthcare

Reform

Technology Mobile & Digital Health

TODAY

AccelerationChronic

Disease, Aging &

Cost

OpportunityThe Golden Age of Entrepreneurship



Rapid Expansion of Digital Health/Wellness



A 10x Solution to Drive Value Creation



Funnelled Entrepreneurship

VALU

ECR

EATI

ON

Key success factor for value creation.. focus on personal skills & team skills

Opportunity recognition

Opportunity preparation

Opportunity exploitation

CTO/COOCulture Capital

CFO

Economic Capital

CEO

Strategic Capital

CMOSocial Capital

Theory based on social system theory and entrepreneurship lit. (a.o. Groen c.s., 2005)

National Health Care Leadership

• Health care systems• Largest industry sector• Growth driven by demographics and

international patient care • Distinction driven by innovation

• Broad industry • In 2001, ~250 companies• Majority in medical devices• Some industry leaders (Steris,

Invacare, Philips/Picker), many small companies

Private Enterprises..Architect of Modern Healthcare1983: International Quality in healthcareBusiness model with intrinsic social conscienceScalable, replicable and Sustainable modelTechnology and InsuranceNAT-HEALTHTelemedicinePadmavibhushan

Bringing Cost effective care in pediatric heart diseases

Bringing management into Health Science

42 Hospitals across IndiaMix of charitable and private instituteManagement model of volumes bringing bottom lineCost effective indigenous production

Public Health..making it necessary

Reaching the unreached…

Healthcare Consultancy..

Education ….unexplored

Research in Healthcare..

Accreditation…Quality in Health

Preventive space in health..

Preventive Health in unchartered territories…

m Health

Digital Health..

Tapping the untapped potential

For making life easy for all….

Technology driver…

Make in India…

Discovery IQ ScannerPET CT is believed to be the best diagnostic innovation in

fight against cancer

QUALITY @ AIMS

The first university teaching hospital to get NABH accreditation

AN ISO 9001:2008, NABH, NABL AND NAAC ACCREDITED HOSPITAL

Electronic Medical Record

E Learning Patient Safety Module

Health Technology Assessment

A new tool for evidence based decision making to select cost effective services

sanjeevksingh@aims.amrita.edu