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Transcript
Abhinav Chaudhary
Ahana Das
Akarsh Deep
Amal Jain
Yash Parashrampuria
CASE STUDY
MARKETING MANAGEMENT Presentation
Dr. Devi Prasad Shetty
Heart Surgeon
Introduction
DR. DEVI PRASAD SHETTY
- Born in South India
- Studied medicine in Mangalore
- Trained and Operated as a heart surgeon in Guy’s Hospital, London
- Joined Birla heart Research Foundation Hospital Calcutta in 1989
- Personal Cardiac Surgeon of Mother Teresa.
About
Narayana Hrudyalaya
Narayana Hrudayalaya
Lets dive into details
- Literally translates to God’s Compassionate Home in Sanskrit.
- Situated in Bangalore, Karnataka.
- Aims at providing Easy and Cheap but Top class medical Treatment to the everyone.
- Established in 2001 by Dr Devi Prasad Shetty
- High Class healthcare services provided along with specialisation in Cardiac Surgeries.
Business Model
Innovative Ventures
Innovative Ventures
- Karuna Hrudaya
- Wal-martization of Healthcare
- Management Software which helped them maintain minimun inventory and quicker processing of tests and patients.
- Telemedicine and Yeshasvini. (To be explained later)
- Did not say no to any patient.
Business Model & Operations
- Focus on Volumes
- More process Innovation.
- Less Product Innovation
- Reduced capital expenditure, buying low cost medical equipment, monthly rent paid by Reagents.
- Fixed Salary of Doctors rather than Variable surgery-based pay leading to lean staff.
Details
Details
Competitor Analysis
Dive Deeper
- Treated other hospitals as partners rather than competitors.
- Low Cost surgery rates than all other competitors.
- Provided exclusive expertise in Cardiac Surgeries contrary to other hospitals
- Efficiency of Surgery and Tests lot higher than competitors.
Social Help
- Never had to turn away patients because of lack of funds
- Program HOPE
- Suposhan
- Rajiv Gandhi Arogya Yojna (RAY)
- Socio economic development to reduce inequality between rich and poor.
- 2 buses were send out to rural areas to give best onsite help to rural population.
Yeshasvini
- Low cost insurance scheme set up for farmers and their families in Karnataka.
- Tie-ups with local post offices for easy premium collection and ease of access.
- Self funded scheme
- Offered wide range of medical coverage.
- Applicable in several hospitals across Karnataka.
Yeshasvini
Telemedicine
- Provide cardiac care to the rural poor with the use of technology.
- CCU’s opened in rural areas to help rural population.
- Gives ordinary doctors the opportunity to accomplish extraordinary things.
- New concept in India
- Supported by State and National Government and Fellow Hospitals.
What’s Next (The Future)
Analysis
- Health City
- Train new generation of quality doctors and nurses
- Expand Wal-martization concept
- Provide quality healthcare to all especially the poor and the rural population.
7 P's Of NH
Analysis
STP ANALYSIS
STP
To what extend was NH a success?
QnA
- Highly successful
- Chain of hospitals all over the country and even abroad in Cayman Islands.
- In Sep 2019, had an EPS of 2.23% which was a growth of 49.66% from last quarter.
- Had a net profit of 45.33 Cr Rupees in September which was and increase of 49.83% from last quarter.
Could this be adopted in other developing countries?
Next
- Yes, but hard to execute
- Problems of – Funds, Corruption, Motivation, Government Interference.
- Cost of treatments which were far lower than that of the US, can help the poor population of the developing countries.
- Problem of achieving Scales of Operation.
Can the Wal-martization concept be expanded beyond the area of healthcare?
Next
- Walmartization concept was that of achieving economies of scale to reduce per unit costs.
- Can be easily implemented in several other areas.
- Expansion by NH and Dr Devi Shetty may not be that beneficial, risk factor high for their area of expertise.
Time for Critics