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December 12, 2010

Businessworld profile of day care surgery firm Nova Medical

From the article:
The operative word in Nova’s model is ‘minor’. Need a heart bypass? Nova is not the place. But, need an appendix or a cataract removed? A stomach (or gastric) banding to lose weight? A hernia patched up? Or a facelift? That’s right up Nova’s alley. In other words, surgeries that are low-risk, don’t need expensive support systems, and where the patient can go home the same day.On average, Nova claims to bill 15-20 per cent lower than a large tertiary care hospital since, with no in-patient stay, its costs are lower.

...Of late, health insurers that insisted on a minimum 24-hour hospital stay to reimburse expenses are paying for day-care. “Insurers are no longer an impediment to doing procedures as day-care,” says Nayan Shah, CEO of Paramount, a third-party administrator for health insurers. Shah says that some insurers have a standard list of day-care procedures, while others opine anything that can be done as day-care because of “scientific advancement”, should be.

Arun Natarajan is the Founder & CEO of Venture Intelligence, the leading provider of data and analysis on private equity, venture capital and M&A deals in India. View free samples of Venture Intelligence newsletters and reports. Email the author at arun@ventureintelligence.in