Amrit Pal Singh, Founder & CEO, hospitalforsalelease.com, Speaks about the Vision Behind Starting the Company
Amrit Pal Singh, Founder & CEO, hospitalforsalelease.com
Is there a personal story that motivated you to start the portal?
Yes, it was my mother’s demise due to flaws in the healthcare system that moved me to start https://hospitalforsalelease. com My mother was diagnosed with breast cancer, stage 1, by a leading corporate hospital. We were informed there were no hospital beds available for the next three months. The reason was my mother was an ECHS empanelled patient.
I had no option but to go for alternative medical treatment. Those doctors kept treating my mother for the next one year with absolute confidence and guaranteed results.
But when her condition started deteriorating, she was rushed back to the corporate hospital. After diagnosis, they declared that she was in the last stage of cancer and they must start the treatment to save her life.
The hospital immediately admitted her, did chemotherapy and all other treatments. However, after one and a half month of being admitted to the hospital, she died. I was in a shock that even after paying a huge amount for medication, treatment and ICU admission she died in just one and a half month because that corporate hospital gave us hope that things were improving daily.
During his association with the top management in the healthcare industry for business development, Singh started to develop marketing teams for some of the leading corporate hospitals, and it was then the reality sank in.
He began connecting the dots, and soon the big picture started emerging, clearing all the doubts that fogged his mind ever since he lost his mother. The “Bed Manager” of a hospital allocates the beds to patients who can earn the highest revenue that day. Preference is for cash patients at high income than empaneled patient at credit and less revenue, due to which less number of beds is allocated for empaneled patients. If the hospital would have given her the hospital bed and started her treatment when she was diagnosed with stage 1 breast cancer, she would have been alive today. “What happened with my mother and me, I do not want that to happen to anyone else,” he says.
At the same time, I also saw the plight of hospitals and their management under considerable stress and in massive financial losses — forcing them to take patients for a ride and taking short term decisions affecting patients life I kept thinking what can be done to bring a change in the healthcare industry to fix this problem worldwide and after pondering over a solution to fix the problem, I came up with the unique idea of hospitalforsalelease.com.
For me, the remedy was NOT to build a new hospital with huge loans and investment and be under stress but to buy/ lease distressed hospitals available worldwide and making the business profitable with minimum investment thereby no unwanted stress and no need to do anything unethical with the patients anymore.
What is your vision for the healthcare industry?
My vision is to make an impact in the life of patients worldwide where a patient doesn’t have to undergo unwanted lab tests, expensive medication, surgeries and implants in his body because the hospital where he has gone for treatment in emergency or otherwise is having financial losses and the hospital is under stress to do anything unethical with the patient to make money. Our portal makes a sincere effort to achieve this vision by helping investors find hos pitals to buy or lease and run the operations profitably with minimum investment and not be under unwanted stress to do anything unethical with the patient because now the investment is far less than building a new hospital.
What is the USP of your portal?
Our portal has various unique things like:
• Hospitals and investors worldwide are listed on one single platform which you can access 24×7 from the convenience of your office/home which in turn saves you huge amount of your time, money & travelling.
• Complete confidentiality as database is encrypted and secure Registration is free.
• Zero per cent brokerage charges as you can close the deal directly offline amongst yourself.
How can one ‘invest in hospital equipment’ through your portal?
Medical equipment is a very expensive and a huge cost in building a new hospital. On our portal, hospitals can list their existing medical equipment for sale/ lease for investors to find which investors are interested in buying/ lease. This is a huge saving for the investors and removes unwanted burden and stress on the investor/ management of the hospital.
How does your portal help an investor who plans to setup a hospital?
On our portal, hospitals worldwide who want to sell / lease their hospital / medical equipment upload details which investors are looking for. The investors worldwide can browse the database and shortlist those hospital based on their criteria from the comfort of their home, office which saves them tremendous time, money and travel. Now the investors can contact the hospital directly and do the deal offline as per terms and conditions suitable to both of them which was never possible earlier.
Who are the key members of your team?
Various IT professional companies across the world, namely, cyber security, data analytics, content writing, designing companies and many more have worked as a team passionately on this idea to bring a change in the healthcare industry for the benefit of patients and I am thankful and grateful to the entire team to make this idea a success worldwide.
What has been the response, so far?
Since we started on 26 January 2017, already many hospitals and investors have started registering on the website, reading blog articles, commenting and speaking to me personally, congratulating about this idea and benefit to their hospital & investors. We are looking for like-minded people who want to bring a change in the healthcare industry by investing in our startup to take this to a global level thereby making an impact in the life of patients worldwide.