Max Vision Eye Care Centre
On a scorching summer afternoon in May, Dr. Ankur Sinha (Dr.Ankur) stood in front of a under construction building in Vaishali Nagar, Jaipur. As the construction workers had gone for lunch and there was not a single soul around. Dr.Ankur looked up with pride at the partially built as it was the outcome of a long cherished dream of owning and managing a hospital finally coming true. Soon the construction would complete and the hospital would be operational.
The last decade had been tumultuous for him and his friend and partner Dr. Ajay Pal Singh Jhinjha (Dr.Ajay), whom he had first met in 2001 at AIIMS. Events had moved at quite a fast pace in the last 5 years. Both the doctors had successfully established their credentials during this period and had chosen Jaipur as their chosen location. The eye care market in Jaipur was becoming increasingly competitive, with several large-and smallsized eye hospitals being set up in the last few years.
Dr.Ankur was thinking of several possible scenarios when suddenly his thoughts were interrupted by the sudden resumption of work at the site, as the workers returned from their lunch break…
Jaipur, the Pink City, a popular destination for both foreign and domestic tourists known for its forts, palaces and temples, the city has over the last few years rapidly emerged as a business hub, and established itself for its marbles, precious and semi-precious stones, and jewellery.1 Dr. Ajay and Dr. Ankur, two medical practitioners trained at the prestigious All India Institute of Medical Sciences (AIIMS) decided to sow the seeds of their dream in Jaipur, in the form of the Max Vision Eye Care Center (MVECC), a multi-specialty eye care center.............
The Genesis
It was on a hot summer morning in 2001, among the long queue of people at the iconic All India Institute of Medical Sciences (AIIMS) in South Delhi, with the hope of making it to this prestigious institute for their post graduate fellowship were two young doctors from Rajasthan – Dr. Ankur Sinha (Dr. Ankur) and Dr. Ajay Pal Singh Jhinja (Dr. Ajay). It had always been their dream to join AIIMS. While waiting for their turns for the interview, the candidates tried to strike conversations with others. Ajay and Ankur, while getting introduced to each other, came to realize that both of them were from Rajasthan. They immediately struck a friendship............
The Early Years
Dr. Ankur’s tenure at AIIMS concluded by 2006, while Dr. Ajay yet to complete his tenure. Thereafter, Dr. Ankur joined Santokba Durlabhji Memorial Hospital at Jaipur as a Consultant, and worked there for about one year. He was well supported by the Head of the Department, Dr Siddarth Cosnsul who wanted to upgrade and grow the department and needed well trained young doctors. However, constantly seeking the approval of the higher authorities for day-to-day issues became a nightmare.............
Birth of MVECC (2009)
Dr. Ankur approached many multispecialty and eye hospitals, but did not find any good work opportunities. Multispecialty hospitals wanted them to invest and pay the rent and electricity bills of the hospital along with profit sharing. On consultation with their friends and Chartered Accountants (CAs) they decided on a different course of action as opposed to the previous model that was inherently exploitative. They already had endured bitter experience of association with other hospitals............
MVECC Today
MVECC offers most advanced retina, squint and glaucoma surgeries done under local or general anesthesia. With the advancement of technology and latest technique/methods of surgeries, it is possible to discharge the patient within 4-5 hours after the surgery. Some of the complex treatments offered by MVECC include sutureless vitreo-retina surgeries, minimally invasive squint surgery, advanced glaucoma surgery with shunt and valve implantation.............
Challenges
Although the eye care industry both worldwide and in India has significant potential (Exhibit VIII), the ground realities in India are very different. While there is a demand for eye care services, MVECC realized that most of its potential customers did not have the capacity to pay. With huge investments in equipments, it did not make economic sense to meet the requirements of this segment. Others too sought lower cost medical options.............
The Way Forward
The Indian healthcare industry is witnessing several changes. India’s healthcare spending is growing at a healthy CAGR of approximately 14 % from 5.5 % of the GDP in 2009 to 8 % in 201223 because of the rise in disposable income; increasing patient awareness due to higher literacy rates; and availability of more providers. A combination of demographic (Increase in Population, Shift in demographics- 60 % of the population in the younger age bracket.............
Assignment Questions
I. What were and are the various internal and external challenges our protagonists faced and are facing?
II. What will be your suggestions to the two doctors to help them shift the hospital from its establishment phase to its growth stage?
III. .............
Exhibits
Exhibit I: Jaipur, Benefits of a Metro at the Costs of a Non-Metro
Exhibit II: Location of MVECC
Exhibit III: About Dr Ankur Sinha & Dr. Ajay Pal Singh Jhinja
Exhibit IV: MVECC Promotional Material
Exhibit V: Schedule of Charges (as in 2014) Investigation and Consultation Charges
Exhibit VI: Media Coverage of Complicated Cases Performed
Exhibit VII: Facilities/Services at MVECC
Exhibit VIII: Eye Care Scenario
Exhibit IX: List of 10 Best Eye Hospitals in India