NEM - 2nd Submission

What is the product?

Specialised Geriatric Care centre – to look after the elderly.

A centre which provides –

 Comprehensive care to the elderly

 Includes day care and residential care
 Home care services
 Day-to-day medical needs of the aged
 Recreational activities like TT and movies

Who are your target customers?

 Nuclear families in urban cities - With nuclear families and double incomes being
the norm in urban India, children caring for their parents find the going tough. It is
not that they do not wish to look after the elderly; the problem is that juggling
careers, children and parents needing constant medical attention becomes a difficult
task. The situation gets further compounded if the elderly require constant medical
attention. So, they would be major customers for the centre.
 People who are often travelling for work – For such people, it becomes difficult to
take care of their elderly and this situation becomes even tougher when the latter
need some special medical care. For them, this centre would provide home care
services to look after their parents for their medical and other needs.

How will you make money? How much money?

Customers will be charged in one of the two ways –

1. Monthly basis - for the stay in the centre and using its facilities and separate charges
for medical interventions as and when needed.
2. Daily basis – for non-residential people who may wish to get a medical assistance
from specialist doctors and nurses trained in geriatric care.
What are the strengths of the proposed business?

The proposed business would have following strengths –

 Edge over other home care centres - Home care hardly exists in India. Even in a city
like Delhi, getting adequate nursing care at home is next to impossible. While a
handful of nursing services exist, their services are unreliable and offer dubious
quality of care. These centres do not employ nurses trained in geriatric care, most of
them are rejects from big hospitals and land up in these places because no one else
is willing to hire them. Trusting, them to look after the elderly at home is a huge risk.
 Edge over Old Age Homes - Old age homes too are hard to find. A quick look up on
Google threw up just 5 centres in Delhi, most run by NGO’s as not for profit centres.
These homes too are more in the nature of shelters for the aged and are not
equipped with round the clock medical care. If this is the state of affairs Delhi, one
can easily assume the situation to be a lot worse elsewhere in the country.

Other factors of Competitive Advantage –

 Experts in geriatric care to provide general and specific medical assistance

 Flexibility in service – daily and monthly basis
 Easy to register – via online and centres
 State of the art medical facilities
 Recreational and other cultural activities like games and music

Most importantly, the proposed business model will drive profits by three critical factors
which are – Compassion, Kindness and Missionary sense of doing good.