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Introduction

Cayman Islands are located near Miami of US and consists of three islands which are Grand Cayman, Cayman Brac and Little Cayman. The population of the country is around 50,000 and the main two sectors of the country is financial services and tourism sector. The per capita is high of the nation but the country is too much dependent on the US economy for several factors including the treatment of its citizens and for this reason Cayman Islands government has decided to collaborate with Dr. Devi Shetty to implement NH model in HCCI healthcare organisation. In this report, the different aspects of the case study of HCCI like HCCI rate under this model and its compatibility in other countries economies will be discussed.

1. Is the pricing of the CABG procedure In around $50,000 is appropriate or not. What should the HCCI rates be given the limited flexibility in increasing prices post the initial agreement with the Insurance companies?

The pricing of the CABG at around $50,000 is more than adequate according to the researcher evaluation of the cost of this procedure. The reason for this evaluation is that Cayman government is highly supportive of this initiative and also recognised the degree of the Indian doctors and healthcare professionals which means those individuals can also work in HCCI organisations and other hospitals in the Cayman Islands. In addition, $800 million worth medical devices and other related materials can also be brought from other countries like India by HCCI without any extra duty and the material cost or material consumables cost in India of this procedure is only around $1453 in NH which is one partner of HCCI. Even after the exempted limit is over the duty tax of 22.5% will be levied in these materials exported from other countries which increase the cost to $1764. The rest of the amount of $48236 will be able for the covering the administrative cost of the procedure which generally covers around 42% of the procedure cost in NH. This show HCCI will have a very low material cost which will give the organisation more than an adequate amount for covering the administrative cost of the hospital. Therefore, the pricing of the CAB at 50,000 is quite sufficient according to the researcher.

According to the researcher, as there is the low scope of the increasing price of the HCCI different procedure after the agreement with the insurance companies, therefore, the organisation should keep relatively higher profit margin than what NH keeps. Therefore, it is suggested that the HCCI rate should be much higher compared to NH rate but much less than what the rate that US offers when its citizens usually go for treatment. This strategy protects the sustainability of the organisation procedure in case any cost increases in the near future and also increases the appeal of having treatment in HCCI by providing a much lower rate than what the US healthcare demand. This pricing strategy is applied in the case of CABG procedure where the HCCI rate is 16 times than NH rates but is only around 62.5% of the price demanded by US healthcare organisation and the same margin can be used in the case of other procedures. For the economically weaker section of its Cayman Islands, HCCI can make a quota system where a certain percentage of every procedure will be provided at a subsidised rate to the poor citizens of it and its neighbouring nations. This will increase the accessibility of the procedures to a wider range of individuals in the Cayman Islands. All these are the recommendations of the researcher about what the HCCI rate should be.

2. Ultimately, would Dr. Shetty’s model successfully transfer out of India? Would the model be relevant to the developed world, as well as to other parts of the developing world?

Yes, according to the researcher Dr. Shetty’s model can be successfully transferred outside of India but there are some countries especially developed countries like the USA where this transition will be not as smooth as compared to other developing countries in Asia, Europe, and Africa due to different government regulations and policies that clash with the working process design of the Dr, Shetty model. For judging the complete relevance and compatibility of the Dr.Shetty model in different developed and developing countries, the report will analysis the benefits of this model that will help other countries solve any of its existing problems and also analysis of the limitations of the Dr, Shetty model will also be discussed and what the consequences will be if the limitations had to be removed. In the end, the conclusion of the finding of the research will be given.

In this section, the benefits of this model will be discussed in relation to solving the problem existing in the other countries of the world excluding India in their healthcare sector. The first problem that to some extent can be solved by this problem is the increasing accessibility of the common or poor people of the countries which has high mortality and low per capita Income. In many developing economies common people die due to lack of adequate treatment as the cost of the treatment is really high in compared to their income and there is also no strong healthcare benefits provided to them by the government. In some of the African countries like the Democratic Republic of Congo, the health people also die due to lack of getting basic healthcare. Dr. Shetty model is certainly can solve these problems as the main objective of the model is to provide a high quality of healthcare at a low cost by a big scale of operation.

The second problem that can be solved by this model is the decrease in the high cost of the different healthcare procedure, medicine and medical equipments of the government and private hospital and other healthcare organisation. By the help of economies of scale in its operation and the better work process design of different activities, the Narayana Hospital has been able to not only minimise the cost of its operation and also use the human workforces of the hospital more efficient than other. High workforce cost and the high cost of medicine and other medical equipment are very vital factors for which the healthcare sector of different economies cannot make different healthcare procedure more affordable for general public Countries (Compared by People > Death rate. International Statistics at NationMaster.com, 2019). In addition, the developing countries like Ethiopia or Chad also have the problem of getting adequate amount of healthcare professional need in their hospital as in most of these countries is not considered safe, gave low amount of salary for the service and also do not have proper infrastructure for healthcare education, and for these reasons, these countries neither able to produce an adequate amount of healthcare professionals nor able to recruit sufficient professional to work in its hospital (Ten countries desperately seeking doctors. 2019). This problem can also be solved by this model as this will increase the efficiency of the existing workforce which to some extent will minimise the problem.

The third problem that can be solved by this model is the lowering the cost of the lower the cost of the free healthcare service provided by the developed countries and investing the saved cost in increasing the quality and variety of the services provided by the government to its citizens for free. Almost all developed countries like Australia, Canada or France provide free healthcare to its citizens and some to even its tourists but the range of the service provided at free does not include expensive surgeries and also have two-tier free healthcare system in which all citizens do not get all free healthcare services in most of the cases. This prompts these citizens to visit other countries like India, Thailand, and Singapore for high-end surgeries at a relatively lower cost (Stephano, 2019). Dr. Shetty model can help these economies minimise their existing free healthcare benefits cost and helped it increase even some of the high end surgeries if not free then at a low price. These entire points make Dr. Shetty model highly relevant to other countries healthcare sector.

There are some limitations of this model is that prevent the smooth transition of this model in other economies. The first limitation is the reuse of the medical devices like steel clamps is strictly prohibited in some countries like the USA and therefore, major work process design of this model has to be changed to operates in those countries with this restriction and another problem is that almost all developed countries have a strict rule about the maximum working hours a doctor and other healthcare professionals can work in a week like maximum hour a doctor can work in a week in the UK is 48 hours and in this model, all healthcare professionals had to work long working hours to decrease the cost of workforce in the overall cost of the organisation. Therefore, this will also have to be changed in the model to implement this model in those developed countries healthcare organisations. In overall scenario,it can be said that Dr. Shetty NH model is highly relevant in the other economies healthcare sector but the model also has some limitations which have to be overcome to implement it in other countries successfully.

Conclusion

In this report, it was found out that the pricing of the HCCI rate can increase the profitability of the organisation than NH and also become a medical tourism option for US citizen by giving healthcare services at a competitive rate than the US. In addition, it was also found out that the Dr. Shetty model has great potential to solve the medical problem of other economies but there are some limitations of this model which can stop it from being successfully implemented in other economies healthcare sector.

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