Interview with Senu Sam, Founder & CEO of Mykare Health
Senu Sam is a passionate entrepreneur, startup enthusiast and professional with extensive operational, marketing and management expertise in healthcare gained through working with some of the world’s largest healthcare companies.
The importance of quality in a hospital cannot be emphasized enough. Senu has dealt with every aspect of his job at the highest possible standards to create a positive experience for patients and set an example to the entire hospital management.
In one of his roles, Senu observed that patients – both within India and those travelling from outside – who are looking for affordable care face enormous challenges and often undergo an unclear, complicated process.
He quickly assembled a capable team to resolve the systemic problems and improve the global brand equity of the hospital.
Through this concerted effort, Senu and his team have tripled the domestic and international sales revenue.
In fact, all facilities Senu has been a part of have enjoyed a minimum of 40% to 60% growth under his management, with one of the facilities touching an annual revenue of INR 100 crores. Being part of such a large ecosystem, the enormity of the opportunities in his hands was not lost on Senu.
In his free time, Senu loves to share his views and ideas in professional networks. As an engaging storyteller, he writes about entrepreneurship, startups, healthcare, technology and sports.
Senu believes that the future of the country is at the hands of entrepreneurial individuals who are determined to solve the everyday challenges of the common man.
Therefore he is very keen about supporting , mentoring and investing in new startups. He prioritises building long and meaningful relationships over short, transactional partnerships.
Tell us a little about yourself
Senu Sam: I am a passionate entrepreneur, startup enthusiast and professional with extensive operational, marketing and management expertise in healthcare gained through working with some of the world’s largest healthcare companies.
I love to write about entrepreneurship, startups, healthcare, technology and sports. I strongly believe that the future of the country is in the hands of entrepreneurial individuals and innovative, goal driven startups that are determined to solve the everyday challenges of the common man. That’s why I am very keen on supporting, mentoring and investing in new startups.
Please tell us a little about your entrepreneurial journey
After several successful years as a healthcare operation and management professional, I felt prepared to start my journey as an entrepreneur.
As a first-time entrepreneur, I didn’t know much about the ecosystem. The road was hard and I had to face many rejections.
At this time, I got an opportunity to apply for a startup fellowship, but the requirement of the fellowship was that all applicants had to have a startup or at least an idea for a startup.
I didn’t know how to respond, but being passionate about the fellowship, I started a B2B healthcare travel portal.
To my astonishment, the idea took shape and started making revenue. This gave me enough confidence to pursue my entrepreneurial journey.
Though the startup was making money, it was not scalable and was unable to achieve PMF. However, my most ambitious and promising venture was yet to be founded. When my father was admitted at a local hospital in my home town for a surgery, I flew down to coordinate the entire process.
Getting into the shoes of a regular patient, I observed the entire process unfold from a new perspective. Right from selecting the facility to arriving at a transparent pricing, making sense of the paperwork, coordinating insurance, understanding the doctors and their procedures, cross-checking with multiple facilities to the post-care support, every aspect related to one’s healthcare journey was frightening for a common man.
The entire process was painful, unorganized and broken. This made me wonder how my father was one among many countless patients across the country, waiting at the hospital without a clue of what they are going through.
This is when I felt the need for an end-to-end tech platform experience with personalized and standardized care for patients who are looking for affordable surgical care.
Informed by this experience, I went on to build Mykare in 2020 with a vision of transforming the healthcare experience of every common man by providing the most affordable, personalized and standardized care.
Even though I got multiple opportunities in the West with global prospects, including a chance to move to the UK with my family, I decided to stay back in India and build efficient healthcare for my fellow countrymen.
Kindly brief us about Mykare Health, its specialization, and the services that it offers
Senu Sam: By leveraging underutilized hospitals and surgeons, Mykare Health is developing India’s fastest growing asset-light hospital network.
With a network of 80+ hospitals, 4500+ beds, and 75+ Team Members, Mykare Health has already impacted 70,000+ patients in 11+ Indian Cities.
Mykare Health, which was founded in 2021, is the fastest-growing full stack elective surgery platform in India.
It offers minimally invasive elective and aesthetic operations, such as Lasik, hernia repair, pile repair, hair restoration, liposuction, knee and hip replacement, IVF, and more.
The business uses asset-light approaches to run operations and offers elective surgeries at a 20–30% discount by making use of the underutilized hospital and surgeon infrastructure capacity in the country.
Mykare Health is the first Kerala-based OnDeck ODX-US accelerated firm and was named Inc42’s Best Startup to Watch.
Small and medium scale hospitals are being empowered by Mykare Health to take control of the domestic and cross-border patient market share.
Cross-border patients are currently held by barely 10% of India’s top hospitals. In order to make medical care more accessible and affordable (about a significant 50% to 60% less expensive), Mykare is expanding its offerings.
The method is simple, the doctors are highly skilled, the facility has high-quality assurance, and cross-border patients can easily access small and medium-sized medical facilities with fixed and transparent pricing and end to end seamless care. Mykare has already launched its operations in one foreign country as a preliminary step.
What is your biggest USP?
Senu Sam: Building a company with transparency and seamless experience based on our core values – empathy and care are our top USPs.
The value propositions of the company include 24×7 quality care, complete price transparency, zero-cost financing options, and administrative support – solving the problem of information, accessibility and financing in the industry.
What made you choose this type of business?
Senu Sam: My passion to improve healthcare in my country, extensive operational, marketing and management expertise in healthcare and the need for an end-to-end tech platform experience with personalized and standardized care for patients who are looking for affordable surgical care made me choose this type of business.
What was your mission and vision at the outset?
Senu Sam: To see millions of smiles from our patients, to get world class experience for every common man, also to help small and medium hospitals to grow in the competitive market scenario. In addition, we are trying to expand to 5 countries abroad and aiming to reach 10 lakh patients.
What is your Leadership Mantra?
Senu Sam: Health care in India is going through significant changes. Empathy, care, reliability, transparency and recognition of others’ effort are my mantras of bold leadership that is needed for transforming health care.
What’s your company’s goals?
Senu Sam: To provide the most affordable, personalized and standardized care to patients looking for surgical care.
What was the inspiration behind turning an entrepreneur
Senu Sam: The helplessness of millions of patients across the country waiting cluelessly in hospital queues for saving their lives and an urge to bring about a transformation in the healthcare system via an end-to-end tech platform were my inspiration behind turning into an entrepreneur.
Key things to consider before starting a Business
Senu Sam: One must determine its audience, do research and have a strong mission
If you had one piece of advice to someone just starting out, what would it be?
Senu Sam: Be clear with the vision and thoughts and must always strive for better results.
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