Senu Sam | Mykare Health
Mykare’s Senu Sam is simplifying the hospital experience with a signature blend of thoughtful technology, democratized affordability and uncompromising quality.
Senu Sam is the Founder and CEO of Mykare Health (backed by Ondeck ODX & Best start-up to watch in 2022 by Inc42) , Building India’s largest trusted and affordable Hospital Network and an asset light specialised surgical chain for domestic and cross-border patients.
A passionate entrepreneur, startup enthusiast and professional with extensive operational, marketing and management expertise in healthcare, Senu’s career has spanned 12 years across global organizations like Apollo, Gleneagles, Westminster and MGM Healthcare.
Senu has always responded to the day-to-day demands of his job with an entrepreneurial approach. He has managed large teams, led new initiatives, owned and turned around the challenges of the organizations he has been a part of.
Organizations have enjoyed a robust 40% to 60% growth under Senu’s 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. However, before starting anything on his own, he wished to test his capabilities with two smaller facilities. His attention was drawn to a new hospital in Chennai which was struggling to produce a monthly revenue of INR 5 lakhs even after being in operation for two years. Senu considered this a professional challenge and took command of the situation. Within a year, he turned around the monthly revenue to INR 1 crore. His colleagues would recall his calm attitude, energetic and creative mind, and openness to adapt to changing needs.
We move deeper into Senu’s story arc, shifting our attention to the one big idea that captures his approach to life and defines his approach to success. The man’s response is short and sweet: “Be humble , Create Impact and support everyone.”
We are curious about how his proprietary ‘success mantra’, over time, evolved into a saga of success. What were the pivots, bends and influences that moulded its momentum? Senu goes into recap mode as he recounts his saga. Here’s the gist of his journey…
After many successful years as a healthcare operational and management professional, Senu felt ready to start his journey as an entrepreneur.
As a first time entrepreneur he didn't know much about the ecosystem. The road was hard and he had to face many rejections. During this time he got an opportunity to apply for a startup fellowship, but the requirement of the fellowship was that all applicants have a startup or at least an idea for a startup. He didn’t know how to respond, but being passionate about the fellowship, he started a B2B healthcare travel portal. It was amusing to himself that the idea took shape and started making revenue. This gave him enough confidence to pursue his entrepreneurial journey. Though the start-up was making money, it was not scalable and was unable to achieve PMF. Senu's most ambitious and promising venture was yet to be founded.
When Senu’s father was admitted at a local hospital in his home town for a surgery, he flew down to coordinate the entire process. Put in the shoes of a regular patient, he observed the entire process unfold in a new perspective. Right from selecting the facility to arriving at a transparent pricing to decoding reams of paperwork to coordinating insurance to understanding the doctors and their procedures to cross-checking with multiple facilities to the post-care support, every aspect was positively frightening to the ‘layman’. The entire process was painful, unorganised and broken.
This made him realize that his father was just one amongst countless patients across the country waiting at a hospital without a clue of what they are going through. This is when he felt the need for an end-to-end tech platform experience with personalised and standardised care for patients who are looking for affordable surgical care.
On the other side: 80% of India's healthcare facilities are in small and mid-sized hospitals. They lack visibility, discoverability, building trust Infront of patients and underutilisation of resources.
The market size of secondary care surgery is estimated to be US$ 20 Billion in FY 2021 for the surgery tech player current penetration is estimated to be just 0.1%. However, it is poised to grow at more than 100% CAGR over the next 5 years to reach 5% by FY 2026. Minimally invasive surgery without extensive hospitalization, which can easily be done by skilled surgeons outside major hospital chains in smaller/mid-sized units, is poised to be a nearby $80 billion market in India.
The majority of estimated 30 Mn Surgical Procedures carried out in India every year are conducted in small & medium size hospitals. In such cases patients often find it difficult to discover and place their faith.
There are almost 44,000 private hospitals in India and only 10% of these are in the organized sector and mostly centered around Tier 1 Metros, thus preventing people in Tier 2 & 3 towns from accessing quality healthcare. Some of the key pain points during an inpatient journey for patients include discovery & placing trust on the right hospital and doctors to get the surgery done, getting an advisor who can provide the right guidance while maintaining privacy, hassles of dealing with insurance claims and anxiety through the process.
Fired up by his experience, Senu went on to build Mykare Health (backed by OnDeck ODX) in 2020 with a vision of transforming the healthcare experience of every common man by providing the most affordable, personalised and standardised care.
Even though he got multiple opportunities in the West with global prospects, including a chance to move to the UK with his family, he decided to stay back in India and build for his fellow countrymen.
An eye-opening session has reached its concluding moments. As we wish Senu Sam – a true blue idea champion – the very best for his venture, we invite him to share a word or two about Voice of Healthcare. How can an initiative like Idea Leaders add direction, inspiration and positive energy to the healthcare community?
Senu signs off inspiringly: “Idea leaders in healthcare has to come forward to support, encourage and give guidance to the first time entrepreneurs. Their wisdom and support is much required to add director and inspiration.”
*This story is published by VOH team.*
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