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. Cutler Department 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 Change Healthcare Reform Technology Mobile & Digital Health TODAY Acceleration Chronic Disease, Aging & Cost Opportunity The Golden Age of Entrepreneurship 

Rapid Expansion of Digital Health/Wellness 

A 10x Solution to Drive Value Creation 

Funnelled Entrepreneurship

VALUE CREATION Key success factor for value creation.. focus on personal skills & team skills Opportunity recognition Opportunity preparation Opportunity exploitation CTO/COO Culture Capital CFO Economic Capital CEO Strategic Capital CMO Social 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 Healthcare 1983: International Quality in healthcare Business model with intrinsic social conscience Scalable, replicable and Sustainable model Technology and Insurance NAT-HEALTH Telemedicine Padmavibhushan

Bringing Cost effective care in pediatric heart diseases

Bringing management into Health Science 42 Hospitals across India Mix of charitable and private institute Management model of volumes bringing bottom line Cost 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 Scanner PET CT is believed to be the best diagnostic innovation in fight against cancer

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