Coverage of Dr. Mahesh Reddy in Medgate Today
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The document discusses the healthcare industry's budget allocations in India, noting a 9.7% reduction for the 2014–15 financial year, highlighting challenges in public funding and underspending in several healthcare initiatives. It features key individuals in the medical field, particularly focusing on Dr. Mahesh Reddy of Nova Medical Centers, who emphasizes the need for improved healthcare delivery and insurance coverage in India. The report also touches on Nova's innovative approach to short-stay surgical care and its collaboration with fertility treatment experts to address healthcare gaps.
Coverage of Dr. Mahesh Reddy in Medgate Today
- 1. www.medgatetoday.com Scan the QR Code to know more PRICE : 150 Volume IV || Issue VI || March - April 2014 The Gateway to Health & Medical World India’s Most Influential PeopleinHealthcare
- 2. Thank you For taking the time to hold the magazine for 4 years. I sincerely appreciate the significant contribution that you all made for the success of 4th Anniversary issue. Your feedback, suggestion, support has been very helpful and gave me a new perspective on available opportunities. India’s Healthcare & Medical equipment industry is expected to play a critical role in improving its Healthcare infrastructure. Undoubtedly, the health of the Indian medical equipment industry is of prime importance. The industry faces challenges both domestically and internationally. Indian finance minister P Chidambaram has put forward the Indian interim budget for the 2014–15 Indian financial year (1 April 2014 – 31 March 2015), allocating INR337 billion (USD5.4 billion) to healthcare, reports LiveMint. This is a 9.7% reduction on the 2013–14 budget, whereby INR373 billion was allocated to healthcare. It should be noted, however, that budget allocations might be altered around June or July when the new government (sworn in after elections due to be held before 31 May) presents its budget. The report goes on to highlight spending patterns over the 2013–14 spending year. Despite an allocation of INR373 billion for the year, the minister underspent, with a reported surplus of INR50 billion. Programmes that failed to spend allocated funding included public healthcare, where only INR11 billion of INR24 billion was spent, and the “creating human resources in health” project, where INR775 million of INR1.1 billion was spent. Other areas in which underfunding was also recorded included cancer care, disaster management, and vaccination programmes. The 2014–15 budget comprises a number of measures that may affect the pharmaceutical and medical device industry. These include a lower allocation of funding for drug regulation, with INR1.25 billion being allocated in the 2014–15 budget against the INR1.33 billion actual spend for 2013–14 and the INR2.62 billion allocated for this in the 2013–14 budget. Outlook and implications With the MHFW using pharmaceutical price cuts and a weakened intellectual property environment to drive cost savings and funding now set to remaining tight, we can expect the Indian pharmaceutical market to remain a challenging environment. Furthermore, a lower budget allocation for drug regulatory authorities is likely to present further challenges. India Cuts Healthcare Spending by 10% in 2014–15 Government Budget Have an insightful reading. Your suggestions are most welcome! E-mail: [email protected] Volume - IV Issue - VI Mar - Apr 2014 Dr. ma Kamal Dr. Pradeep Bhardawaj GP Capt. (Dr.) Sanjeev Sood Dr. Sharad Lakhotia Afzal Kamal SA Rizvi, Dr. HN Sharma Sunder Mewadi Amjad Kamal SY Ahmed Khan, Ranjit Shirsath Jagurti Diddi, Saba Khan, Alisha All right Reserved by all everts are made to insure that the information published is correct ‘Medgate today’ holds no responsibility any unlikely errors that might occur. Circulation Office: 92/17 Zakir Nagar, Opp. New Friends Colony, Okhla New Delhi - 110 025 Tel: +91 - 11 - 26981342 Fax: +91 - 11 - 26982464 M: +91 - 9212366351 Email: [email protected] [email protected] Visit us: www.medgatetoday.com 7 - Ground Floor, Aradhna CHS Ltd. Bal Samant Marg, Bandra (W), Mumbai-400 050 Chennai Office: 11, Krishnan, Koil Street 3rd Floor Rotary Lane Chennai - 600001 Artxel, 76, DSIDC Shed, Okhla Industrial Area Phase - II, New Delhi - 110020 Editor Chief Editor Editorial Advisor National Head Cheif Correspondent Business Development Manger Sales and Marketing Subscribtion & Cirrculation Published by Mumbai Office Printed by magazine Anniversary Editors Note Mar - Apr 2014 3
- 3. 20Padmashri Dr. Mohsin Wali Physician toThe President of India 44Dr. ASHOK SETH CHAIRMAN – Fortis Escorts Heart Institute 24 Dr. Naresh Trehan Chairman and Managing Director Medanta -The Medicity 48Dr. Mahesh Reddy Executive Director (Nova Medical Centers Pvt. Ltd.) 28Prof. M.C. Misra (Director) All India Institute of Medical Science 54Dr. R. Chandrashekhar Chief Architect Ministry of Health & Family Welfare 32Ms. Ameera Shah Managing Director, Metropolis Healthcare Ltd. 60Dr. Sabhyata Gupta Director & Head, MedantaThe Medicity 36 Dr. MAHIPAL S SACHDEV Chairman & Medical Director, Centre for Sight Group of eye hospitals 64Dr. Jean-Claude Tardif Director of the MHI Research Centre (Canada) 40Rajesh Srivastava Chairman Rockland Hospitals 23 Dr. Dinesh Batra Director, Cygnus Medicare 47 Rajen Padukone MD & CEO, Manipal Health Enterprises 26 Dr. Rajiva Kumar Child Specialist Muzaffarpur Bihar, INDIA 50 Dr. Ramakanta Panda Founder and Vice-Chairman Asian Heart Institute, Mumbai 30 Dr. Pardeep Bhardwaj Executive Director & CEO Six Sigma Star Healthcare 58 Dr. Kumud Kumar Handa Director, Deptt of ENT & Head Neck Surgery Medanta Medicity, Gurgaon, 34 Dr. Pervez Ahmed Chairman & Managing Director, apka Urgicare Pvt. Ltd. 62 Dr. Ashok Garg CHAIRMAN & MEDICAL DIRECTOR GARG EYE INSTITUTE & RESEARCH CENTRE 38 Dr. Naveen Nishchal Director, Cygnus Medicare 65 Dr. Anubha Bajaj M.B.B.S, M.D.(Pathology), A.B.DIAGNOSTICS 42 Amol Naikawadi Joint Managing Director, Indus Health Plus (P) LTD DENTAL SECTION Sexual Dysfunction........ 6866 Ranbaxy & APICON Break the Guinness World Records™ ����������������������������8 Fortis Escorts Heart Institute celebrates 25 years; discusses ��������������������� 10 Paracetamol link to ADHD������������������������������������������������������������������������������ 12 XVIth National Seminar on Hospital/Healthcare������������������������������������������������14 Alere introduces India’s only US FDA approved �������������������������������������������������15 More than 450 Exhibitors from 20 countries ������������������������������������������������������16 FDA approves Myalept to treat rare metabolic disease�������������������������������������18 Oxidants not antioxidants the key to diabetes, says DNA ��������������������������������18 Contents magazine India’s Most Influential People in Healthcare Cover Story
- 4. 48 Mar - Apr 2014 STORY COVER The Nova idea gained significant momentum when Mr. Soni met Dr. Mahesh Reddy. Introduced through a common friend, They quickly realized they shared similar visions ABOUT DR. REDDY AND HIS FAMILY Dr. Mahesh Reddy has always been a forward thinker who thrives on challenging himself. He spent 5 years in England to learn a medical super specialty becoming one of the first shoulder specialists in India. He proudly notes that shoulder surgery is amongst the most difficult surgeries to perform and is the latest super specialization in Orthopaedics. Ever since starting in medicine, he knew that he wanted to open a hospital and worked tirelessly toward realizing that goal. Dr. Reddy’s parents are from the Chittoor District in the state of Andhra Pradesh. While his mother, Late Shyamala Reddy was a homemaker, his father, Mr. Venkat Reddy, is a renowned businessman and a veteran in the Sugar Industry and recently retired as Vice Chairman of Bannari Amman Sugars Ltd. He is also active in the Real Estate space, having been involved in the joint development of over 2000 apartments / villas in the city of Bangalore since the early 1990’s. He is a philanthropist and has started an initiative with Iskcon (Tirupati) which feeds over 10,000 children per day in Chittoor district in the midday meal programme. Mahesh Reddy Executive Director (Nova Medical Centers Pvt. Ltd.) Dr. Reddy’s wife, Aishwarya Reddy and his two daughters, Sanjana Reddy (16yrs) and Vaishnavi Reddy (11yrs) are based in Bangalore. NOVA’S JOURNEY AND SUCCESS STORY Suresh Soni, Founder, Chairman CEO of Nova Medical Centers, recognized the gaps in the Indian healthcare segment: scarcity of specialized surgical care, very expensive real estate, very significant gaps or alternatives from tertiary care corporate hospitals and the unmet aspirations of doctors to have ownership and management interest in the Corporate healthcare institutions. Mr. Soni conceptualized and launched a unique business model that addresses these shortcomings and inefficiencies, and meets the aspirations of doctors. The aim was to have “doctor owned and doctor managed centers that provide world-class healthcare, and still be accessible and affordable”. The Nova idea gained significant momentum when Mr. Soni met Dr. Mahesh Reddy. Introduced through a common friend, they quickly realized they shared similar visions. Having completed his medical studies in the UK, Dr. Reddy had always wanted to build and own a hospital and also contribute to healthcare delivery and growth of the country. The meeting with Mr. Soni opened a new avenue for investment in healthcare delivery and Dr. Reddy became convinced of the merits of forming a chain of short-stay surgical centers, especially given the fact that he had seen the efficiencies of this concept during his stint with the NHS in UK. After returning from England, he rapidly became one of the most prominent surgeons in India eventually establishing and heading the Manipal Shoulder Clinic. He actively engages in numerous professional medical associations. He was also witness to the efficiencies of clearly laid out and strictly followed protocols the way of functioning that he wanted to carry with him wherever he would setup his practice. Dr. Reddy was keen to be associated with this novel idea tweaked to suit the India scenario and perform a bigger role within the company. In spite of his busy practice, he committed family funds to making a substantial investment and his addition to the management team contributed credibility and clinical expertise to the company along with his strategic guidance.
- 5. Mar - Apr 2014 49 STORY COVER Dr. Reddy is pained to see the scenario of healthcare delivery in Rural India and strongly feels that the Industry and the Government need to come together to improve the situation. In his opinion, the need of the hour is to get every citizen in the country insured for their health. He feels that this can be achieved in cities and towns, if employers, be it in the public sector, private sector or even in households, are required to mandatorily cover their employees and domestic help. He also feels gifting health insurance policies should become a trend and large companies can be encouraged to adopt villages as part of their CSR initiatives. In 2011, the founders felt infertility treatment sector in India was unorganized and a large number of people did not find comfort in the process and technology available in the country. This realisation led them to set up the infertility business initiative. With 7 centers across India and 5 more underway, Nova IVI Fertility is addressing the growing need for standardised, ethical and latest technology in infertility treatments and is the largest chain in India. NovaIVIFertilitybringsthelatestinfertility treatments to India through its partnership with IVI Spain, the world leaders inAssisted Reproductive Technology. IVI Spain has one of the best rates of pregnancies in assisted reproduction worldwide with 90% success rate over 4 cycles. As a result, IVI has helped in the birth of over 65,000 healthy babies worldwide. IVI also has a dedicated research foundation that has given rise to new treatments procedures which are shared with Nova. Mr. Soni and Dr. Reddy worked relentlessly to set up 18 centers in a short span of 5 years. ACHIEVEMENTS AWARDS Dr. Reddy holds the credit for being the first doctor in India, who specializes in treatments exclusively for shoulder related injuries. Dr. Reddy has been conferred with many awards and honors for his invaluable contributions to the medical world. He received the Bharat Jyothi Award in 2008 for excellence in the field of medicine. In the year 2011, he was awarded the Medical Healthcare Innovation Award. Dr. Reddy was featured in an article titled “Hidden Gems of India” in theAugust 2013 edition of the Forbes Magazine. Dr. Reddy was also recently awarded the Frost and Sullivan ‘Healthcare Entrepreneur of the Year 2013’ award for Nova’s most promising and innovative business model, which has made an impact on the healthcare industry. He founded the Watanabe Cadaveric Course in India with the aim to provide training for Shoulder Arthroscopy Surgeons. He is the Secretary of the Shoulder and Elbow Society of India and Organizing Secretary of the annual Bangalore Shoulder Course. He is an Executive Member of the CII National Committee for health and Vice President of Indian Society of Ambulatory Surgery. He is also the Reviewer of two internationally renowned Orthopaedic research journals- The Journal of Bone and Joint Surgery - England and the British Journal of Shoulder and Elbow Surgery. He has many publications to his credit and has also attended conferences and seminars across the globe and rendered lectures on various shoulder topics as guest faculty. He is a member of many prominent associations like the Indian Orthopaedic Association, Indian Orthopaedic Society in UK, the Karnataka Orthopaedic Association, Indian Arthroscopy Society and the Bangalore Orthopaedic Society and also Advisory Board Member of WWF- Karnataka (World Wildlife Fund). INSURANCE HURDLE WHEN SETTING UP NOVA The opening of the first center brought with it complications on the insurance front. Insurance companies used to only cover procedures with hospital stays lasting more than 24 hours. This was done to prevent fraud. In the Nova model, many patients would be discharged on the same day. Insurance companies were unaware of the concept of short-stay and day-care surgeries and that the surgeries could be 15 – 20% cheaper than other hospitals. The founders had to overcome insurance companies’ skepticism of the short-stay surgery model in order for Nova to be successful. Nova is the first group to get over 700 procedures approved for the same day discharge. INSPIRATIONS ☛ Dr. Reddy’s first inspiration is his father who is a proponent of simple and Satvik living, inculcating the thought of service to society. ☛ Dr. B. N. Muddu, an orthopaedic surgeon in England, is his Godfather and fuelled his interest in shoulder surgery specialization with a ‘never say die’ attitude. ☛ Dr. Reddy has also been inspired by Dr. K. Srinivasan, the senior most orthopaedic surgeon in Karnataka and entrepreneurial surgeons like Dr. Devi Shetty Dr. Naresh Trehan.