A Mega-Thread on the story of an elegant entrepreneur and a cardiac surgeon with more than 16k heart surgeries:
Dr. Devi Prasad Shetty founder of Narayana Health Hospitals @NarayanaHealth
Would appreciate a Retweet or like as it helps us educate more investors.
Dr. Devi Prasad Shetty founder of Narayana Health Hospitals @NarayanaHealth
Would appreciate a Retweet or like as it helps us educate more investors.
1) Dr. Devi Shetty was born in a small village in the Dakshina Kannada district, Karnataka. He did his schooling at the St. Aloysius School, Mangalore.
2) He was educated at St. Aloysius College, Mangaluru where he was an outstanding student. In 1979, He completed his MBBS.
2) He was educated at St. Aloysius College, Mangaluru where he was an outstanding student. In 1979, He completed his MBBS.
3) He completed his post-graduate work in General Surgery from Kasturba Medical College,Mangalore.
4) When he was a school student, he heard about a heart transplant surgery that was performed by the South African surgeon, Christiaan Barnard. He began reading about it in depth.
4) When he was a school student, he heard about a heart transplant surgery that was performed by the South African surgeon, Christiaan Barnard. He began reading about it in depth.
5) He was amazed at this surgery and became inspired and decided to pursue more medical education and change people’s lives.
6) Later he completed the Fellowship of the Royal Colleges of Surgeons (FRCS) from England.
6) Later he completed the Fellowship of the Royal Colleges of Surgeons (FRCS) from England.
7) In 1992, He successfully performed the first neonatal heart transplant surgery on a 9-day-old baby Ronnie.
8) Initially, he worked at B.M. Birla Hospital in Kolkata.
9) He operated on Mother Teresa after she had a heart attack.
8) Initially, he worked at B.M. Birla Hospital in Kolkata.
9) He operated on Mother Teresa after she had a heart attack.
10) After some time, Dr. Shetty moved to Bangalore and started the Manipal Heart Foundation with the financial contribution of his father-in-law.
11)In 2001, he founded Narayana Hrudayalaya in Bangalore with a mission to provide affordable health care to the people.
11)In 2001, he founded Narayana Hrudayalaya in Bangalore with a mission to provide affordable health care to the people.
12) What started as a 280-bed hospital then has, in the last 13 years grown to become a 26-hospital network with 6,900 beds across 16 cities employing 13,000 people and 1,500 doctors.
13) Narayana Hrudalaya has its presence across major Indian cities Bangalore, Delhi, Gurugram, Kolkata, Ahmedabad, Jaipur, Mumbai, Mysore, etc. with an international subsidiary in the Cayman Islands.
14) It has so far performed over 100,000 cardiac surgeries and 250,000 cath lab procedures.
15) Apart from cardiac surgery, Narayana Hrudayalaya also has pediatric surgery, cardiology, transplant services, neurosurgery, hematology, and nephrology among various others.
15) Apart from cardiac surgery, Narayana Hrudayalaya also has pediatric surgery, cardiology, transplant services, neurosurgery, hematology, and nephrology among various others.
16) Narayan Hrudalaya says about 12 % of all cardiac surgeries done in the country are performed at its hospitals and 50 % of its patients are from the economically weaker sections.
17) Narayana Hrudayalaya has been able to achieve this by bringing the cost of surgery down.
17) Narayana Hrudayalaya has been able to achieve this by bringing the cost of surgery down.
18) Interestingly, Narayana Hrudayalaya's cost of cardiac surgery is significantly lower than what it was in India 13 years ago.
19)Narayana Hrudayalaya also has 17 Coronary Care units that are based in remote cardiac hospitals but are linked to Narayana Hrudayalaya.
19)Narayana Hrudayalaya also has 17 Coronary Care units that are based in remote cardiac hospitals but are linked to Narayana Hrudayalaya.
20) Narayana Hrudayalaya’s mortality rate (1.27 percent) and infection rate (one percent) for a coronary artery bypass graft procedure are as good as that of US hospitals.
21) The focus on both cost and quality has not hurt Narayana Hrudayalaya's financials either.
21) The focus on both cost and quality has not hurt Narayana Hrudayalaya's financials either.
22) "The most important reason for NH's execution success is its commitment to purpose. Organizations that pursue bold dreams can inspire their employees to achieve the impossible.
23)He has also conceptualized a pro-poor insurance cover for surgical procedures.
23)He has also conceptualized a pro-poor insurance cover for surgical procedures.
24) That helps in filling a part of the gap in India's healthcare by expanding the health workforce through innovative strategies that increase both numbers and quality."
25) He also signed an MOU with the Government of Karnataka to build a 5,000-bed specialty hospital.
25) He also signed an MOU with the Government of Karnataka to build a 5,000-bed specialty hospital.
26) Narayana Hrudayalaya signed a memorandum of understanding with the Gujarat Government, to set up a 5,000-bed hospital in Ahmedabad.
27) Narayana Hrudayalaya, meanwhile, continues to grow and Dr. Shetty's target is to reach 30,000 beds.
27) Narayana Hrudayalaya, meanwhile, continues to grow and Dr. Shetty's target is to reach 30,000 beds.
28)He is confident that India will soon become the first country in the world to disassociate health care from affluence.
29) "The wealth of a nation has little to do with the quality of health care its citizens can enjoy," he says.
29) "The wealth of a nation has little to do with the quality of health care its citizens can enjoy," he says.
30) The hospital also runs postgraduate programs for doctors and other medical staff on heart care and also offers India's only formal training program for pediatric cardiac surgery.
31) The telemedicine service was started in the hospital in 2002 to cater mainly to the rural populace in the country.
32)The telemedicine network of the hospital connects to countries like Malaysia, Mauritius, and Pakistan; with most of the cases referred being cardiac ones.
32)The telemedicine network of the hospital connects to countries like Malaysia, Mauritius, and Pakistan; with most of the cases referred being cardiac ones.
33) The telemedicine services provided by the hospital are free and more than 21000 cases have been referred using this service.
34) All his Narayana Hrudayalaya hospitals operate heart surgeries at one-tenth of the cost as compared to the hospitals in the USA.
34) All his Narayana Hrudayalaya hospitals operate heart surgeries at one-tenth of the cost as compared to the hospitals in the USA.
35)Dr. Shetty believes that the healthcare cost can be reduced by 50% if hospitals adopt economies of scale.
36)Their average cost of bypass surgery is only $1,500 (Rs 90k) compared to $1,44,000 (Rs. 90 Lac) in the US.
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36)Their average cost of bypass surgery is only $1,500 (Rs 90k) compared to $1,44,000 (Rs. 90 Lac) in the US.
Hit the Retweet as it helps us educate more investors.
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