Healthcare Education
In an exclusive conversation with the Co-founder of a pioneering healthcare education venture, we delve into the motivation, trends, challenges and goals that shape his journey.
The Problem Statement
In 2017-2018, after exiting a previous venture, the Co-founder embarked on a journey to address a critical void in the healthcare sector — the shortage of trained Allied Healthcare Professionals (AHPs). This realisation was rooted in the understanding that these professionals, constituting over 60 per cent of the healthcare workforce, lacked formal training.
This revelation, coupled with government initiatives, became the impetus for their mission. "I understood that the bottleneck in every healthcare institution is the Allied Healthcare Professional," reflects the Co-founder. This epiphany, coupled with the impending AHP Act (later enacted in Dec 2021), laid the foundation for their venture.
Virohan’s other Co-founder, Kunaal Dudeja, also brought in the opinion of his mother (who is a Doctor and sits on the Paramedical Task Force of India) and sister (who was working with World Bank at that time) affirmed the problem statement.
The Growth Map
Over the past three years, the venture navigated transformative trends in the healthcare education sector, propelling its growth. The AHP Act emerged as a regulatory tailwind, bolstering the venture's alignment with industry needs. Moreover, the diagnostic segment's rapid growth, at a 35-40 per cent CAGR, amplified the demand for trained professionals.
The global shortage of Allied Healthcare workers, exacerbated by the aftermath of Covid-19, spotlighted the industry's significance. Recognition from the National Skill
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Development Corporation (NSDC), Project Niramaya, and increased university seats underscored the government's commitment to formalise AHP training.
Future Outlook
The current focus revolves around strategic expansion and diversification. Expanding course offerings, from currently running three out of 80 AHP job roles, the aim is to reach the top 20 courses.
Also, the founders are exploring opportunities to expand, from 20 to 40-50 locations to ensure wider accessibility. His goals for 2024 also include the exploration of possible geographies to expand in multiple countries outside of India.
The company's scorecard is impressive, marked by consistent revenue doubling and profitable unit-level operations.
Notably, in FY23-24, they anticipate more than doubling their revenue, supported by signing four new operational locations. "This is the first time we will be more than doubling our revenue," proudly states Saluja.
Founder’s Vision for India
Emphasising their distinctive approach, Saluja states, "The way we train and the focus we have on customer happiness is not seen in any of the companies in the segment."
Looking beyond their venture, the Co-founder envisions a thriving entrepreneurial ecosystem reshaping India's future.
"This is the best time to be starting a business in India," asserts Saluja. Further, he imparts a lesson learned in his journey and says, "Talent is nothing without the compounding efforts of grit and perseverance."
