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Mr. Amol Naikawadi, Joint Managing Director, Indus Health Plus is one of the architects of Indus Health Plus. Having pursued higher education in Commerce from Pune, MMCA, Amol was keen to forge his own path ahead Chartered Accountancy honed his skills and he immediately plunged into the world of business. Indus Health Plus was started to educate people on the benefits of preventive check-ups and save lives in the process. Amol dreams of bringing the concept of ‘high-end prevention’ to every corner of India. An avid reader of management books, biographies, self-help and business books, Amol is the proud recipient of the Asia Pacific Entrepreneurship Awards 2009, an award dedicated to top achievers who make a difference. He was also honoured by the Bharat Gaurav Award, awarded during the National Unity and Industrial Growth Conference in 2009. Featured on CNBC TV18- ‘Ideas without Boundaries’, as a promising entrepreneur, Amol aims to make Indus synonymous with preventive healthcare across India.
Indus Health Plus, based in Pune has been creating awareness about this ‘preventive health care’ for the past nine years, in a successful manner and at an affordable cost. In a partnership with many reputed institutions, they have transformed the lives of nearly 2.5 lakh families by way of diagnosis and health education, at different places. Established in 2000 by a team of like-minded professionals, Indus Health Plus is the pioneering force in affordable, comprehensive and qualitative preventive health check-ups and diagnostics for a-symptomatic Indians. An ISO-9001-2008 certified company; Indus has alliances with well-equipped and renowned delivery partners across the country. Currently, with a presence in Maharashtra, Goa, Chattisgarh, Karnataka and Delhi. Primarily started to propagate the inherent benefits of preventive diagnostics, the aim was to create awareness on how preventive health check-ups can reduce mortality and risks related with modern day diseases.
Replying to Anil Mascarenhas, Editor, IIFL, Amol Naikawadi says, “For young Indians it is about time to wake up to the startling fact that India is heading towards becoming the heart attack capital of the world by 2020.”
Walk us through the transition of Indus from a single service center to a multi functional organization.
Our business started in 2000, with only 4 employees and today we have more than 300 dedicated individuals working with us. Every year, the company’s growth has taken care of its finances. The initial capital (Rs. 50 lakhs) was contributed by family and friends, who were equally passionate about the cause, to start Indus Health Plus and India’s first company that dealt exclusively in Preventive Healthcare Services was born.
As demand for our services grew in Pune, people started pouring in at our centers from throughout Maharashtra. Thus, we decide to expand into other districts and then to other states. One of the reasons for our success is also the fact that our delivery partners see a tie-up with us as a win-win situation. Their infrastructure and services are used in an optimum fashion and they too benefit via enhanced profit margins. Indus is growing at an accelerated rate and we now have our presence in 32 centers across 14 cities Pan India. We are present in both the urban as well as rural landscape. Indus has set up offices in Mumbai, Delhi, Nagpur, Pune, Belguam, etc
What is preventive health care’ all about? Explain to us the necessity?
Research indicates that more often than not people are falling prey to new- age diseases such as Diabetes, hypertension, etc which if detected early, are easily curable. Sophisticated diagnostic tools along with prescriptive drugs that come in complicated combinations and a high level of specialization are making medical care expensive. Thus, ‘early detection’ rather than prevention becomes the mantra of the day. Early detection can not only help save on the medical expenses, but also on the pain and trauma.
India is today is the leading heart attack capital of the world. For young Indians it is about time to wake up to the startling fact that India is heading towards becoming the heart attack capital of the world by 2020, as cardiologists predict.
The incidences of breast cancer in women are growing at an alarming rate of 16% and every year cancer claims approximately 8 lakh Indian lives.
Heart disease and stroke is the world's largest killer, claiming 17.5 million lives each year. One in every six Indians has heart related concerns. 60% of those afflicted die before they can be rushed to the hospital. 30%-40% of people, who suffer a first stroke, die even before medical help can reach them. This is where Indus Health Plus has a significant role to play. A rapidly growing company with pan India presence, Indus has been trying to awaken the masses to the inherent necessity of preventative healthcare in today’s competitive world. In collaboration with India’s leading specialist healthcare providers, Indus has been providing comprehensive and quality healthcare services at very affordable prices. An ISO 9001:2008 certified company, Indus Health Plus believes that it must live up to its motto ‘Available, Accessible and Affordable’ on a daily basis. Indus has successfully transformed the lives of more than 2.5 lakh people, across the nation, through diagnosis and health education.
Explain to us your business model. What are the average charges of your package?
At Indus Health Plus, our mantra stands as Healthcare that is easily ‘AVAILABLE, AFFORDABLE and ACCESSIBLE,’ for all. Indus Health Plus is the first and the only company in India to sell preventive health check-ups through direct response marketing, making it easily available to the common man.
Indus provides comprehensive and detailed health check-up packages at less than one third of the list price of any diagnostic center. Also the lack of insurance coverage in India, where 80 to 85% of the bills are paid out-of-pocket, did not escape the notice at Indus. The company distributes “Health Friend” cards to take care of the medical and hospitalization expenses of Indus members, thus making it affordable for all. According to Time magazine, a cardiac CT scan is the most comprehensive scan available for detecting heart diseases. This scan involves a huge sum of money but Indus offers this service along with a bouquet of other services at extremely competitive rates, thanks to the our unique model which is still first of its kind in India,
Indus has set up its operations in 32 centers pan India, and continues to grow at an accelerated pace. Indus has set up offices in Mumbai, Delhi, Nagpur, Pune, Belguam, etc so that is easily accessible as well
A recent ICRA report emphasizes on the role of prevention especially to battle chronic diseases rampant in India, and so there is immense scope for growth in this sector.
Preventive healthcare packages-
Health packages from Indus Healthcare are available between the ranges of Rs.2, 995 to Rs.16, 950/- and include essential tests which doctors recommend should be administered on a regular basis.
What are some of the major criticisms you come across? What is your answer?
The major challenge for us today is the sheer skepticism that the masses show towards the importance of preventive health check-ups. They believe that they are healthy on the outside, therefore healthy on the inside as well. However, this is simply not true. We seek to promote awareness about preventive healthcare and how significantly it can reduce any pain or suffering that might arise from ignoring minor health issues that might turn fatal in the future. For example, not many know that one can go on living “normally” with even as much as 80% damage to their liver! However, the liver functions might collapse suddenly leading to fatalities.
Give us a brief overview of the industry. What are the changing trends here?
The Indian healthcare industry, unlike other industries, stands untouched by recession. There had been a steady growth in this sector, revenues from the healthcare sector accounts for 5.2% of the GDP, making it the third largest growing sector in India, and further the healthcare sector is projected to grow to nearly 1,80,000 crores by year 2012 and a compounded annual growth rate (CAGR) of 15-17 percent for at least the next 7-10 years. The preventive healthcare market is growing at a 25% growth rate.
In a developing economy like India (which has a huge middle class population), Indians are more prone to lifestyle diseases; and with less than 0.1% of population doing preventive checkups, India is sitting on a silent but ticking time bomb! Preventive health checkups are something that are needed every year. However, as such Indians have a very fatalistic approach towards healthcare. ‘Prevention is better than cure’, is something that we all have all heard since our school days but seldom do we actually implement this principle. We forget to put it to practice and take chances with something that’s most precious- Our Health. The same person, who would spend money and time to get his vehicle quarterly serviced, will think it is a waste to go for his annual BP checkup! According to W.H.O, it is indicated that India is increasingly becoming the capital for various diseases like cancer, heart and various other stress related (lifestyle) diseases. A CII report indicates that 8% of households are pushed below the poverty line each year due to health expenditure. Technopak reports indicate that 40% of the low and middle income population borrow money or sell assets to pay for hospitalization. Most of these unexpected expenses are medical expenses, which leave many a person bankrupt. Hence, it is time for one and all to ‘WAKE UP’ to the concept of preventive healthcare.
What is your geographical presence?
Headquartered in Pune, we have our presence across Maharashtra, Delhi, Bhilai and Goa. Indus has offices in Mumbai, Delhi, Nagpur, Nasik, Goa and our tie-ups with reputed delivery partners are spread across Maharashtra- Mumbai, Pune, Nagpur, Jalgaon, Ahmednagar, Latur, Nasik, Karad, Solapur etc.
We have reached out to more than 2.55 lakh customers across the country in our 11 years of operations and are ever-growing, as more and more people are waking up to the concept of preventive healthcare with us. Currently present in 14 cities across 32 delivery partners, we have associated with reputed medical establishments across the country to reach out to people.
Tell us about your partnerships like Thyrocare Technologies. What are the other partnerships you have?
With Thyrocare as our partner, we try to provide the best possible services to our clients through exhaustive and reliable lab tests (blood works). We aim to deliver the best possible services across the nation and our tie-up partners ensure the right delivery of our commitments to our clients.
Some of our delivery partners are:-
What are your expansion plans? How would they be funded?
Currently available across 32 delivery partners in 14 cities, our concentration is in Maharashtra and Goa, with a recent entry into Delhi. We aim to reach 50 centers by March 2012 and 100 centers till March 2014. Indus aims to achieve pan-India presence by concentrating on multiple location availability of their services for their clientele. Many regional and national healthcare chains are in talks with us. If these associations do materialize, we will achieve the numbers much before the targeted date.
What about Tier II & III cities?
Currently, we are present in 2 major metros- Delhi and Mumbai, and headquartered in a Tier I city with offices across 3 Tier II cities. We are looking at being in the top 10 cities while also concentrating at a mix of Tier-II and in some cases Tier-III cities as we aim to achieve pan-India presence and make Indus Health Plus, a name synonymous to preventive healthcare all over.
How would they be funded?
A large part of this requirement will be supported by accruals and debt. However, at the right time, we will raise the capital through the private equity route.
Explain to us your financials. What is the outlook?
Our annual turnover for 2010 was Rs. 75 crores and we are growing at the rate of 35% on an annual basis. The company expects to invest around Rs. 100 crores over a period of the next 4 years.
What is the shareholding pattern in the company? Any plans to sell stake?
Indus Health Plus is a family-run company. When the time is right, we will look at selling stake and increasing our shareholder base.
What is your staff strength?
We are proud to say that some 300 dedicated and driven individuals are part of the Indus dream today. We follow a strict recruitment process, wherein we try to source the best possible brains through campus recruitments, job portals, consultants, references and so on.
Your message to someone who wishes to join your organization?
To someone who wants to join our organization, the dikats are simple enough. You must be hard working and you must have the faith and courage within to dream big.