Welcome to NICE Conversations where we feature entrepreneurs and industry experts and hear their stories, have them share their learnings and benefit from their insights. Featuring here Rajiv Vasudevan – Founder, AyurVAID Hospitals . Chair, CII Ayurveda Group . Co-Chair, AYUSH Sector Skills Council. He speaks about the blue ocean opportunity comprising products and services in scientific Ayurveda based diet, lifestyle, products (over the counter, generic, proprietary), therapeutic services spanning root cause disease reversal and sustained well-being.
A Process-driven Approach at AyurVAID
India’s biggest chain of Ayurveda hospitals, AyurVaid has shown strong clinical outputs over the past 15 years of operations. With nine hospitals and clinics across India and a growing network of physicians, founder Rajiv has proved that a process-driven approach can make an Ayurveda-based business model profitable. Rajiv is on a mission to not only modernize but also make this ancient system of medicine go mainstream.
With four of AyurVAID hospitals securing the prestigious NABH (National Accreditation Board for Hospitals & Healthcare Providers) quality accreditation, AyurVAID is the pioneer in bringing the concept of quality systems into Ayurvedic medical care. It was Rajiv’s dream to offer Ayurvedic healthcare in modern, multi-specialty medical facilities.
Ayurveda as a Productized Service
“Ayurveda is a chikitsa sampradaya, i.e. ‘a personalized prescription’, where the service is the product. The product is also to be sold as a service. The moment you look at it like that, the entire sector changes” Rajiv explains in this conversation.
A passionate Ayurvedic chikitsa campaigner, Rajiv, however, didnt start his career in healthcare. A mechanical engineer with a management degree from IIM-Calcutta, he was with Godrej and Motorola, before being hired by the Kerala government. For close to three years, he headed the government’s Technopark and IT Mission and was also Special Officer for Biotechnology. In this role, he came in touch with the Ayurvedic system of medicine. “As I went in deeper, what struck me was … ‘we are missing the woods for the trees’ – that Ayurveda has been reduced to an aushada sampradaya or ‘medicinal practice’ at one level and on the other hand it has been reduced to a massage industry. As healthcare science, Ayurveda offers tremendous potential for societal impact – scalably and profitably.”
Watch the clips to hear Rajiv elaborate on these aspects as well as his entrepreneurial journey with AyurVAID. He shares his experiences, insights and the future he visualizes for the sector.
The journey from Engg-MBA to Ayurveda via Corporate and Govt.
Corruption of Ayurveda
As a productized service
The wellness continuum
Nature and Role of Ayurveda
Standards, Process, Metrics
Future of Ayurveda
As a “chikitsa sampradaya”
Availability of doctors and healthcare capacity