Market entry and growth strategy
Creating a pioneering business model to promote robotic surgery
Vattikuti Foundation Robotic Surgery Institute (VFRSI) was committed to foster growth of robotic surgery in India through innovative financing options. We were engaged by them to suggest early adopter profile and suitable partnership options.
We interviewed multiple stakeholders: surgeons across different specialties and CXOs of large hospitals to understand the drivers and barriers for adoption of robotic surgery. We also interviewed patients to gauge their acceptance and the role of pricing and physician recommendation. We arrived at certain proxy indicators to identify surgeons and hospitals, which could be early adopters of the technology. Based on these insights, we designed the business model and recommended investment and partnership options between VFRSI and the participating hospital. Some of the early leads – specifics of both surgeons and hospitals – were shared with VFRSI.
The approach led to unprecedented growth in the number of robotic surgery installations in the country: from less than 5 in 2011 to almost 30 by 2015.