ECON8069 Business Economics

Introduction

Apollo Hospital, Ahmedabad, Gujarat, India is among the cornerstones of healthcare infrastructure and settings within Gujarat. It was founded in May 11, 2003. Apollo hospital provides better healthcare services which include; treatment, prevention, rehabilitation, as well as health education to patients and their families. The hospital has 234 beds with 68 CCU beds attending to 10,000 patients averagely per annum; this makes it the biggest hospital built in Gujarat. Apollo hospital is the only healthcare center with a "1.5 Tesla MRI" scan in Gujarat, it was constructed on over ten acres of land. During the course of provision of better healthcare, the hospital is characterized with performing out Bone marrow or stem cell transplant regularly for a number of hematological conditions. The transplant occurs at least once in every month where the success rate is 90% in regard to hospital discharges. The hospital is also the only one with "Radiation Oncology unit" within the town; it was established and operated by the United States Based Cancer center, CBCC (Apollo Hospitals, 2018). Apollo Hospital is a multi-location hospital, it has hospitals in different locations were Ahmedabad is the second largest branch. Apollo hospitals have branches in Bangalore, Chennai, Delhi, Kolkata, Hyderabad, Guwahati, and many other cities. The Ahmedabad Gujarat India has a telephone contact of +91796630 5800, "address: Plot No.1A, Gandhinagar - Ahmedabad Road Bhat, GIDC Bhat, Estate, Gujarat 382424, India" and it operates 24 hours a day. Apollo hospitals. The total revenue of the company in May 2018 was Rs 7,195.60Cr which increased in prior to the previous year. Apollo hospitals was founded by Dr. Prathap C Reddy who is renowned as the pioneer or "architect" of modern healthcare within India. The company has a vision of "Touch a billion lives" and the cornerstone of the company legacy are; affordable costs, forward-looking academics and research, delivering healthcare with technology, as well as creating focus on the clinical excellence (Apollo Hospitals, 2018).

Literature review

Robotic surgery refers to integration of advanced and complex computer technology with the high experience of elite and skilled surgeons. The technology provides the skilled surgeon with a magnified (10x), 3D, high definition image of the intricate anatomy of the body (Finch, 2011). While using this technology, the surgeon uses the available controls in a console so as to manipulate the special surgical tools that are little smaller, maneuverable, and flexible as compared to the human hand. Therefore the robot manipulates the human hand movements, and at the same time minimizing hand tremors. Apollo hospital is one of the best hospitals in India in offering Orthopedic surgeries along with its procedures. It perform joint and bone replacement surgeries using the most current Reconstructive and Arthroscopic techniques at very cheap prices compared to the rest of the world hospitals and those in India (Maat et al, 2017).

The most common type of these surgeries in this hospital are; total knee replacement which goes on cost of $8500, Unilateral Knee replacement surgery will approximately costs $3000, Bilateral knee replacement surgery which goes on cost of $5100. Prosthetic leg robotic surgery is not a very famous surgery within the hospital and its one of the costly surgeries raising revenue to the hospital.

Risk Management.

Some of the risks that occur during prosthetic leg surgery

Prosthetic leg surgery follows amputation. Some of the risks that occur after the surgery are;

Heart complications which result into heart attack and short life expectancy of about 2-5 years due to chronic vascular disease

The risk management in this case is through involving patients to life insurance.

Deep vein thrombosis due to amputation

The risk management plan is to involve patients in health insurance. There is need of using advanced healthcare givers.

Phantom limb and stump pain

The risk management plan is health insurance and taking necessary precautions while carrying out the surgery.

Action Plan

The product under study is "prosthetic leg surgery which is a ROBOTIC SURGERY", the products and services offered by Apollo hospitals are mostly consumed by the individuals within India and those from developing countries. The team of service providers in the hospital consists of experts who can be accessed physically or online. These work in shifts 24 hours daily operating under a vision of handling billion patients. The managing director of Apollo hospitals enterprise Limited is Ms.Suneeta Reddy; the Joint managing director is Ms.Sangita Reddy, Dr.Preetha Reddy is the Vice chairperson Apollo Hospitals enterprise limited, Ms.Shobana Kamineni is the executive vice chairperson for Apollo hospitals enterprise Limited while the chairperson of the enterprise is Dr. Prathap C Reddy, he is the visionary founder who is widely termed as architect of the modern healthcare in India (Apollo Hospitals 2018).

The hospital generates $1.1billion annually and is the top hospital within India, therefore the funding on the hospital comes from the raised revenue from the providing services to the different groups of people and patients. Before carrying out the surgery and to whom, any individual who would like to have a surgery would need to first have a brief meeting with the consultant either physically at the offices or online by visiting the online consultant page.

References

Apollo Hospitals. (2018). Management, https://www.apollohospitals.com/corporate/apollo-management

Apollo Hospitals. (2018). Institute of Orthopaedics, https://ahmedabad.apollohospitals.com/centres-of-excellence/institute-of-orthopaedics/

Finch, J. ( 2011). "The Art of Medicine: The Ancient Origins of Prosthetic Medicine". The Lancet. 377 (9765): 348–349. doi:10.1016/s0140-6736(11)60190-6. PMID 21341402.

Maat, B.; Smit, G.; Plettenburg, D.; Breedveld, P. (2017). "Passive prosthetic hands and tools: A literature review". Prosthetics and Orthotics International. 42: 66–74. doi:10.1177/0309364617691622. Retrieved 8 November 2017