H.E.A.T 2016: Day 2: Panel Discussion: “Business models”

pd3-5Dr. Raveendranath Naik, Director, School of Management – Manipal University 

Dr. Naik spoke about the shift in entrepreneurial environment in the past to the present. A few years back, the environment for entrepreneurs was less conducive. Talking from a risk perspective, banks would not take risks in financing new ideas. The risks had to be endured by the entrepreneurs. The environment is drastically different today. With venture capitalists coming in, risks are today shared giving new entrepreneurs support to digest setbacks.

Mr. Dinesh Madhavan, Director Healthcare Services, Healthcare Global Enterprises Ltd

Mr. Madhavan defined technical tools like apps and softwares as enablers. He stated that there are two types of medical professionals, the front end professionals who interact with the patients and the back office professionals which includes the technicians, radiologists and pathologists. The back office professionals carry out tertiary duties and do not interact with the patients. Enablers like e-ICU and tele-radiology help mitigate the challenges that come with unavailability of skilled professionals. Less interfacing is the future of health care.

Dr. Sanjay Patan Shetty, Head of Department, Public Health – Manipal University

Dr. Shetty spoke about how resource constraints mean different for different people. He stressed on the importance of understanding the different perspectives between countries and within the country. This is crucial in innovation and providing services. He also spoke about project ECHO which is an extension of community health care outcomes. The project democratizes knowledge using a concept called force multiplier. He stated that the solution for healthcare innovations lies outside the domain of healthcare.

Dr. Kumar Siddharth

Dr. Kumar spoke about the immense opportunities teleconsultation brings. However, it is important to comply with medico-legal framework. While telemedicine brings in a lot of convenience in the form of consultations over a phone call, the most important factor is the well-being of the patient. There are guidelines and protocols that must be followed. Taking dentistry as an example, he stated that there is lack of awareness, making intervention at an early stage important. Teleconsultation aims at guiding the callers, reducing their apprehensions and refer them to the appropriate care centres.

Mr. Partha Dey, Healthcare Leader and SME, IBM Healthcare

India is following a trend with respect to new business models. The uniqueness is a result of the generation of creative ideas. The tertiary business in healthcare has grown significantly. Lot of work is being done to provide access to medicine in rural areas. Start-ups are looking to adopt this model into the Indian rural setting in order to provide good quality healthcare services. Multiple companies have been set up in the domain of medical tourism. Single specialty providers are emerging as well. There is an attempt to alter ideas already implemented in other parts of the world to the Indian market.

Dr. Ramesh S VE

Investments are more focused on people. There has been a paradigm shift whilst shifting ideas to prototype development. The solution must meet the healthcare needs of society, the involvement of finance comes in at a later stage. With e-commerce and tele-based medicine, there have been dynamic changes in the medical industry. There needs to be a high level of healthcare literacy at the policy level. There are a lot of regulatory glitches in the Indian system, however there is a prevalent level of maturity.

Dr. Lokendra Gupta

People from the lower socio-economic groups don’t play an active role in the business model development. There is a variation of roles being carried out by different groups in the process of model formulation, idea creating and overall development.

Mr. Denny John, Senior Technical Specialist, ICRW

The government needs to play a role in business model development. There are many people who can’t be given subsidy care because they aren’t eligible for the same. Sustainable models can be built to cater to the people, society and the medical community as well.

 

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