Interview with Dr. Ashwin Naik ( CEO, Vaatsalya Hospitals).

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Vaatsalya Hospitals (A): The Business Model
(Interview with Dr. Ashwin Naik ( CEO, Vaatsalya Hospitals) &  Dr. Veerendra Hiremath ( COO, Vaatsalya Hospitals))


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Who is this video about?

How to create a low-cost business model in healthcare industry to make it affordable? How to envisage a no-frills hospital offering high-end healthcare facilities? Seems intriguing, but not for Vaatsalya Hospitals. Born out of an intense urge to provide affordable healthcare facilities to the semi-urban and rural people, Vaatsalya boasts of stupendous success within a short span of 3 years. Although the Indian healthcare industry is a destination for world-class medical treatments for many foreign clienteles, the country’s rural and semi-urban population is still deprived of basic healthcare facilities. Having identified a huge gap in the healthcare delivery and discovering the business opportunity, two young doctors, Dr. Ashwin Naik and Dr. Veerendra Hiremath established a hospital chain in rural and semi-urban areas of the country under the name ‘Vaatsalya Hospitals’.

After completing graduation (from Karnataka Medical College), Naik went to the US for higher studies and enrolled for a Ph.D degree at University of Houston. He discontinued studies and joined a leading genomics company in the US. After spending 6 years in the US, he returned to India to explore entrepreneurial ventures in healthcare. Hiremath picked up hospital administration skills in Mumbai’s Hinduja Hospital. Coming together, they established the Vaatsalya chain of hospitals. The blend of their skills proved an important factor in gaining investors’ confidence and helped them to emerge with a unique business model. This video talks about their entrepreneurial journey and challenges encountered related to finance, human resources and infrastructure during the initial stages of operations.

With the innovative way of addressing various challenges, they figured out and developed a low-cost business model which aims at providing high-end medical services at affordable prices. They were able to achieve the low-cost advantage by curbing cost to the maximum and utilizing resources to the optimum. Further, the video talks about the disparities persisting in Indian rural and urban areas. It also discusses the reasons for such poor healthcare facilities and how Vaatsalya is bridging the gap.

What is this video about?

In this video, Dr. Ashwin Naik and Dr. Hiremath, co-founders of Vaatsalya Hospitals talk about:

  1.   Their Entrepreneurial journey – the triggers for setting up a no-frills hospital
  2.   The Business Model of Vaatsalya Hospitals
  3.   Scalability of the Business Model and the Growth Plans
  4.   Opportunities and Hurdles in Creating Affordable Healthcare in India

Recommended to use this video for:

This video along with the accompanying two case studies – (a) Healthcare Industry (A): India’s Low Cost Advantage, and (b) Healthcare Industry (B): Low Cost For Rich People, High Cost For Poor People – Vaatsalya’s Revolutionizing Rural Healthcare Delivery System, can be effectively used in:

  1. Entrepreneurship Course – for understanding the importance of business model, tying up all the ends of a business model, resource mobilization and resource modification, etc
  2. Strategy Course – for understanding the concept of competitive advantage and how competitive advantage is built around a business model, and for understanding the importance of strategic fit amongst all the components of a business model

Video Details

Title : Vaatsalya Hospitals (A): The Business Model

Released Date:8th October ,2009.

Interviewed by Dr. Nagendra V Chowdary (Dean, IBSCDC), Saradhi Kumar Gonela, Sowjanya Mora.

Price : $ (1000 INR)

Duration : 1 hour

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