Making A Giant Leap

He started Vikram Hospital, Mysore in 2002 and today he is rolling out hospitals in every district of Karnataka

Dr SB Vikram (40) Founder, Vikram Hospitals Group

Born in 1968 in Mysore, he did his MBBS from JSS Medical College, Mysore and MD, Internal Medicine from JN Medical College, Belgaum.

Why an entrepreneur?

Hailing from a family of doctors who set up laboratories and diagnostic centres, he aspired to become an entrepreneur to take the next big step of starting super specialty healthcare which was not available in Mysore.

Before being an entrepreneur

After completing his MD, he started working in his family clinic and diagnostic centre and was attached to various nursing homes and hospitals in Mysore. From 1995 onwards, he practiced till the time Vikram Hospital was ready.

The first move

In 2000, he conducted an internal study to analyse the 'gaps' in healthcare in Mysore and its surroundings. This study confirmed his belief that Mysore urgently needed finest heart and critical care. "I put a team in place who were aligned to similar goals, highest ethics and finest talent and then put together a project management team who could deliver the finest infrastructure to work in. Whatever it would cost to ensure patient safety and good clinical outcomes, I was ready for that" says he.

"Coming from a professional background, we were not wealthy by inheritance. Hence appealed to family and friends, mainly NRIs from the US and France who all chipped in whole heartedly. Like this, we raised about 25 per cent of total project cost. Nationalised bank provided us the debt," adds Dr Vikram.

The 104-bed hospital offering cardiology and urology facilities was thus commissioned by 2002 October.

Over the years

From 104 beds, the hospital has expanded to 154 beds by December 2008. Now, it is a full-spectrum super-specialty hospital. An additional 100 beds would be added before March 2009. Another 120 beds in Mandya and Tumkur would be commissioned by March 2009. "Our annual revenue growth is 25 per cent year-on-year. We now have 650 employees and in a year will have 2,000," says he.

Fears and apprehensions

"My responsibility was not just limited to the huge amount of money at stake, but also for the first 250 Vikram employees who trusted in me. Then I was worried whether patients would trust a practically 'new brand' with their lives and heart. However, I knew we would succeed as every single patient we see, we try our best to treat them as one of our own family member. Our service quality and outcomes had to be better than the best in metro cities to earn the respect and trust of Mysoreans and surrounding areas and here we were spot on," says he.

Overcoming roadblocks

Dealing with skeptics proved to be a hindrance. "When we started, there were only about 10 people who believed we would succeed and luckily for me all the 10 were specialist doctors within Vikram Hospital! Many well wishers also advised me against this high cost project. Convincing finance specialists in the banking world was a herculean task," he says.

Mistakes made and lessons learnt

He regrets 'aiming low' in the beginning of his entrepreneurial path. 'We could have actually started all multiple specialties when we started in 2002, rather than starting it in 2007. We lost a few valuable years," he regrets.

Any formal degree in management?

No. "In the initial years, I felt handicapped without it. I learnt management from books, mainly Harvard Business School series, and on the floor, really. Now I feel, perhaps I was better off without formal management training because I would have been risk averse and perhaps 'common sense' would have been side stepped to 'theory.' However, I do believe that ‘Generation Next’ should have a formal degree in management at some time during their life," says he.

Tips for entrepreneurship

"Never give up, have conviction of courage, use common sense, work 24/7/365 and trust your instincts. Hear everyone, but listen to yourself," avers Dr Vikram.

An entrepreneur that he admires in healthcare

Dr Devi Shetty of Narayana Hrudayalaya.

The road ahead

He has planned a chain of multi super-specialty hospitals— of 75-100 bed-strength each, in every district of Karnataka. ICICI Venture has invested $24 million (Rs 96 crore) in Vikram Hospital Group for an undisclosed stake for this expansion.

“The expansion will be a mix of greenfield and brownfield projects or leasing and operation-management contracts. We would start from South Karnataka districts. Bangalore will have a higher tertiary care hospital of 250 beds in CBD to be opened in 2009," says he.

Vikram Hospital's flagship in Mysore will also expand its cardiac care services. It will also start five dedicated superspecialty hospitals in Mysore for trauma, orthopaedics, plastic surgery and neurology, gastroenterology, urology and nephrology, women and child care and high-end dentistry, cosmetology, ENT and value-added specialties.