If you need to undergo a minor surgery - say, a cataract operation - you could make a trip to a hospital. Or, you could visit a Nova Medical Centre. The advantage, say the promoters of these multi-specialty daycare surgical centres, are: Lower costs, a faster turnaround time and a more patientfriendly environment.
Chairman, Nova Medical Centres
Vision: To provide daycare surgical facilities that are 15-30 per cent cheaper than those at corporate hospitals
Challenge: To gain total confidence of the surgeon fraternity
In May 2009, the first Nova centre came up in Bangalore and the second a year later. Nova has now expanded into the national capital region by opening its first centre in Delhi in October 2010. Nova plans to have 25 centres nationwide by December 2012; currently it has three.
Nova's model is innovative. Each centre typically partners with 40 investee doctors, who collectively pick up a 30 per cent share in the centre. Each gets 30-35 per cent of the package rate as his professional fee apart from his share of the centre's profits. Each centre is spread across a minimum 12,000 sq. ft. and has five operating rooms, 20 beds, a lab and a pharmacy. The cost of putting up such a centre: Rs 10 crore.
Break-even is targeted in eight months. Three surgeries per surgeon per month are required for the monthly break-even; an average surgery can cost Rs 35,000, according to Nova Chairman Suresh Soni. He has obviously scoped and probed the potential in this market.