The journey of life always brings with it new challenges which fill us with enthusiasm to pursue it. So was I, full of excitement when back in 2010 I had joined a renowned hospital as its Marketing Head and embarking on this new journey of life. The focus of my work was to increase the revenue of the hospital through more patients, tie-ups with private doctors, corporate, empanelments and direct walk-ins.
After my initial years with the hospital, I worked closely with the core management team of the hospital. I witnessed the hardcore reality of what the hospital was going through. This lead to many decisions which had an adverse impact on the life of patients.
Behind the flashy interiors and the snow white linen sheets, the hospital incurred significant losses. The operational costs were way too high. Profit margins and the increasing competition from existing and new branded hospitals in the city posed a huge threat. Before that, I had never given a thought to all this. But when I saw the reality, I knew that nobody at that point of time would want to be in his shoes. His business was in a bad stage and he had massive bank loans and EMI’s to pay off, and more importantly a family to run.
As the enterprise was not in good shape, my boss’s close friends and some business partners. This left him as a distressed man needed support. They asked him to give their invested money back! All methods followed by him to make a sufficient amount of money from the hospital failed miserably. The man who was once known for his cheerfulness and calm became rude, impulsive and under much stress. He spoke in close confidence to his chartered accountant and few people in the local city. But could not find investors to buy the hospital with such a massive investment.
He became insane to earn money in every single possible way from the hospital.
Huge revenue targets stood fixed for the marketing team. There were unnecessary investigations, admission of ignorant and vulnerable patients in private wards and ICU, surgeries while patients could be treated by medication. Doctors were instructed with all these. They did things like putting more stents, implants, increase bills, file false mediclaim bills, sell expensive and avoidable, medication etc. IPD admission staff was instructed to prioritize and allocate hospital bed firstly to cash patients and for surgeries. This can earn maximum revenue for the bed. The hospital turned away empaneled patients from admission as revenue was far less and on credit as compared to a cash patient.
He had set-up the hospital with the motive to help and heal people had now turned into a money making business. I saw patients taken for a ride and exploited. I remembered my mother who died few yrs back when hospital bed and treatment was not given to her during stage 1 of breast cancer by another corporate hospital. She was an ECHS empaneled patient. I got disturbed when I realized the truth.
While he struggled with all this pressure, sad news came in as a huge shock to all the employees of the hospital. His business partner had committed suicide because of the substantial loss he too was in. His family members blamed our boss for his death. Can you imagine what the man had to go through in that instance? Accused of taking another person’s life when you try to make things better for everybody is a severe trauma.
In the end, all his attempts failed. He succumbed like a person succumbs to an injury. The bank auctioned his hospital and the reputation lost in the market. So many cases filed by vendors, staff for their salaries, dues and he ended up with many court cases for so many years. There were regular visits from the police and vendors to his house in his absence. They questioned his family members. All these only worsened his case.
I always kept asking my boss why he never sold/ put on lease his hospital much earlier. if so, this situation doesn’t come to such a sad end. His reply was simple:
a. How and from where do I find an investor for my hospital? I am a doctor working morning to night at my hospital. Neither do I have the contacts or time to travel worldwide to find investors and do a sales pitch to them.
b. If people in the local market ever came to know that my hospital is not doing well financially, my doctors, good staff will leave asap. I will lose my market reputation built in past many yrs. Vendors will start approaching for their pending bill payments, and it will lead to a further downfall of the hospital.
Imagine you witness something as severe as this? At the same time feel helpless because you cannot contribute in any way to help the other? The thoughts of it never leave you until you find a solution to it.
I kept thinking why should one construct a new hospital with massive loans & EMI when the investor-hospital-patients were all under great stress? Was it a lose-lose-lose option for all? If the hospital business is profitable the patients do not have to undergo unwanted tests, surgeries and massive bills?
I have worked for many years to find a win-win solution for hospitals and patients. So I came up with an idea. Any hospital owner can register their hospital for sale free and at zero % brokerage to seek investment from investors online around the world. We maintain the anonymity of the hospitals with encrypted data so that their reputation will not be jeopardized.
Hence, I want to achieve three goals with this portal:
1. Save struggling hospitals from death by getting suitable investors worldwide. They can either buy or take the hospital on a lease. Help the hospital owners from reaching a sad dead end like what had happened with my boss.
2. Help Investors. Now investors need not build new hospitals and repeat the same mistakes above. They can get good revenue quickly if they buy or lease distressed hospitals anywhere in the world. The investment will be far less and also the hospital already has existing patient flow.
3. Help patients. A huge amount of money is not required to run a new hospital. There is no need for them to do anything unethical to patients for a quick ROI, EBITDA. This saves patients from unwanted tests, expensive medications, admissions, surgeries, implants in the body and lower patient bills. Hospitals can admit empaneled patients and their life will be saved. The hospital will not be under the stress to earn maximum revenue today itself and take short term decisions.
So for any hospital in a similar situation, there is a bright ray of hope in the form of https://www.hospitalforsalelease.com/
Here you can find a hospital investor of your choice from the investors listed. Register for free.
At times of trouble, we are here with you.