Treating Mother Teresa & Model-T Medicine: Cardiac Surgeon, Dr. Devi Shetty

 

 

Name: Devi Prasad Shetty, MD

Location: Bangalore (Bengaluru), India

Specialty: Cardiac Surgeon. Chairman and Founder of Narayanna Health

 

Today’s guest is Dr. Devi Shetty, a cardiac surgeon, entrepreneur and one of the most famous physicians in India. What’s he famous for? Well, he performed the very first neonatal heart surgery in India, and actually served as Mother Teresa’s personal physician after operating on her following a heart attack. Obviously, we weren’t missing the opportunity to explore these unusual stories, but they are far from the main focus of our conversation. Dr. Shetty is best known for the unique and innovative health system he created. A system so revolutionary, the Wall Street Journal has nicknamed him the “Henry Ford of Medicine.”

We’ll uncover what it takes to perform an advanced cardiac procedure, with western trained doctors, state of the art equipment, comparably lower complication rates than most US hospitals, for only $2,000 with a profit. The same procedure that would cost over $100,000 in the US with higher complication rates and additional OR time.

Make no mistake, their model isn’t simply about cheaper overseas labor and this isn’t a story about medical tourism.

We’ll see how Naryana Health functions as a working laboratory for testing and implementing new techniques, technologies, models, and training allowing them to be more agile, efficient and safer than any hospital you have likely yet encountered. We’ll see how Naryana Health has become a profitable publicly traded company while adhering to a policy of never refusing care to a patient regardless of their ability to pay. Yes, you heard that right! A profitable private hospital system that also provides free medical care.

An hour just wasn’t enough here. It was incredible conversation that only just scratches the surface of what’s going on. It’s also a forward look at what’s coming whether we like it or not. With that said let’s get started.

 

Links and More:

Dr. Shetty Ted talk: https://www.youtube.com/watch?v=C3CXhwJjnk4

India Factbook: https://www.cia.gov/-library/publications/the-world-factbook/geos/in.html

NPR Article: https://www.npr.org/sections/goatsandsoda/2015/01/05/375142025/india-s-philanthropist-delivers-cardiac-surgery-henry-ford-style

Harvard Business Review: https://hbr.org/2018/06/is-this-the-hospital-that-will-finally-push-the-expensive-u-s-health-care-system-to-innovate

WSJ Article: https://www.wsj.com/articles/SB125875892887958111

EHR and Technology: https://news.microsoft.com/en-in/features/narayana-health-uses-data-analytics-and-ai-to-provide-affordable-high-quality-healthcare

Naryana Health System:

https://www.narayanahealth.org/about-us

International patients: https://internationalpatientcare.narayanahealth.org/about-us

Earnings reports from hospital system:

https://www.narayanahealth.org/sites/default/files/download/Investor_Presentation-Q3FY2019.pdf

https://www.narayanahealth.org/sites/default/files/download/annual-reports/NHL_Annual_Report_2017-18.pdf