Explain your idea in details:
The steady rise in nuclear families in urban India has led to increased concern about the health and well-being of elderly people living alone. Specific issues that need to be addressed include: - Elderly individuals living alone who require proactive healthcare and companionship - No upkeep of health records and medical history - No one to take care of medical emergencies My proposed solution, Our Health Mitr (OHM, which stems out of the powerful healing term Ohm in Hindu mythology) Healthcare is an innovative high-tech, high-touch solution that would revolutionize home healthcare in India by offering the following: - Proactive healthcare for family, especially elderly folks with family living away - Routine health checks - Record-keeping of all health checks, medical history, as a ready reckoner - Address medical emergencies 24x7 - Above all, an emotional connect with family, especially lonely elders Patients using OHM would be assigned a trained home healthcare worker who could tend to their daily medical and emotional needs. The accompanying tech component - a web and mobile application that stores all of the patient's health data - would simplify record keeping, and give peace of mind to the patient's families, who could access it anytime, anywhere.
Expected impact of your idea on sustainable development
Preliminary market research showed that 33% of elderly people in India fell ill at least once a year. 20% of this illness was life-threatening, but 50% of it could have been prevented by proactive healthcare. Additional surveys (sample size 318 individuals) revealed that more than 60% of respondents were living in nuclear families, and amongst those, 90% were looking to avail proactive home healthcare services. Given this current scenario, I believe that OHM Healthcare has the potential to become the most trusted and passionate home healthcare companion in India, serving the healthcare needs of 100k beneficiaries within 5 years of launching. According to the UN Sustainable Development Goals, ensuring healthy lives and promoting the well-being for all at all ages is essential to sustainable development. Hence, OHM healthcare, with its focus on improving geriatric health and overall life expectancy, would contribute to sustainable development and improved health in India. OHM healthcare would help reduce premature mortality through prevention, treatment, and a focus on overall well-being. Through its home healthcare aide training programme, it would also contribute to the development, training, and scaling up of Indias health workforce. This strengthened workforce capacity would, in turn, improve early warning systems, risk reduction, and the management of health and well-being at a national level.
Plans for implementation and sustainability
Knowing the shortage of healthcare services for nuclear families, especially for elderly & lonely old people and the necessary demand for it, OHMs service would be an exclusive offering. OHM Marketing Services shall knit strategic partnerships With institutions that can provide Sehat Mitrs/Sehat Sahelis who are trained on basic health care With institutions that can provide trained medical staff/nursing care etc. With hospitals/doctors General physicians & specialists With pharmacies With diagnostic labs With other partners, viz. HealthKart, Lybrate, Practo etc. for various services Strategic tie-ups with Western Union, Money Gram, PBD, UAE Exchange etc. for customer acquisition. OHM shall be given integrated marketing support to garner interest of beneficiaries and partners Harness the power of social media Fb, LinkedIn, Twitter, Blogs etc. Data led marketing On-ground neighbourhood campaigns Campaigns through partner organisations SEO/SEM (Search Engine Optimization/Marketing) International campaigns with Western Union, UAE X-change others etc. P2P referrals Over 90% of people surveyed willing to recommend OHM services to others Trade fairs Certifications & affiliations Given the fact that this would be an asset light model, the costs too shall be low, leading to higher gross margin & profitability. Over 7-8 years, the company shall boast of a strong valuation on account of Strong consumer base youth in nuclear families and their old parents A strong B2C & B2B platform Strong revenue & profit accrual. The organisation would also have an early mover advantage to harness the massive potential India offers, especially in the ever growing urban middle class domain. OHMs services could command a premium given its strong value offering. This would lead to sustainable growth in revenues, and a predicted breakeven in the first year itself.
I am a Class 12 student of Modern School Vasant Vihar, New Delhi, India. I am particularly fascinated by the intersection of social entrepreneurship and technology, and love to come up with innovative product and business ideas that have the potential to improve lives and change the paradigm of how we live. I first developed the idea for OHM Healthcare as part of a group initiative during The Indus Entrepreneurs The Young Entrepreneurs (TiE-TYE) business plan competition; and our business pitch won 3rd place in the competition. Now, I am excited to take OHM Healthcare forward as we begin to search for investors and seed-funding at the start up stage.