Dr. Victor Castillo CEO Fundacion Cardiovascular de Colombia

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1 IFC INCLUSIVE BUSINESS LEADERS FORUM 2013 PRODUCT INNOVATION: ENHANCING AFFORDABILITY AND ACCESS Dr. Victor Castillo CEO Fundacion Cardiovascular de Colombia

2 Key elements of inclusive business model Fundacion Cardiovascular (FCV) is the largest private health provision network in Colombia and operates four high complexity hospitals in small cities. Country: Colombia Sector: Healthcare Reach: 623 beds & >150,000 patients/year (includes ambulatory) Expanding reach FCV focuses on smaller cities where patients traditionally are unable to access specialized hospitals. This gives it access to a market of 15.7m people with limited competition. 2,800 telemedicine patients Results: +32% in EBITDA ( ) $10.5m savings for system Addressing patient needs FCV s revenues are linked to the government tariffs for high complexity medical practice, which allows it to address patient needs first rather than their ability to pay for services. Reaching the Base of the Pyramid (BoP) Product offering BoP target High complexity health services. 15.7m people in Bucaramanga, Santa Marta, Manizales and Ibague making up 39% of total population. Reducing cost Through the use of technologies and telemedicine, FCV is able to reduce transportation costs for patients in remote areas and to expand access to its services. Through vertical integration, including inhouse equipment assembly and sale of medical products, FCV is able to reduce its costs and generate additional revenue. This in turn allows it to better serve lower-income patients. Reaccredited

3 > 90% of patients are affiliated to the government s mandatory health plan > 35% of patients are from low income families and an important part are children These are typically unemployed patients who are unable to contribute to the health system and whose social security is government-managed FCV pro-actively scouts low-income children in need of cardiovascular surgery in remote regions of Colombia. These surgeries are reimbursed by the national health plan system. Reaccredited

4 Expanding reach Reducing cost Limiting risks Generate social impact by giving easy access to health services. Offer specialized medicine to patients located in rural areas who require real-time medical assistance. Prevent unnecesary patient allocation or transfer. With the service of tele ICU, reduce the extra costs incurred of transferring a patient. Reduce the risks associated with transfering a patient from one place to another. Mitigate health risks not previously addressed. Reaccredited 2013

5 Web applications 45 software modules > 5m medical records in 25 medical centers > 3m Dicom images Tele consulting Guidance to > 200 general practitioner doctors in remote villages in 76 frontier regions Tele EKG and Tele ICU in 26 private and 22 public hospitals Webinars Equipment Mobile ICU Tele Mobile Mobile EKG Technical support Software development team that gives support to all the Telemedicine Platform Results Served 2,511 patients in 3 years through telemedicine 75% of patients did not need to be referred to a major city hospital Infant mortality has dropped in excess of 70% (28% of patients are children) Trained 771 health professionals located in frontier regions Working with the Ministry of Technology and Communications to expand internet access in frontier regions Savings of $10.5m for the government, insurance companies, hospitals and patients thanks to reduced transportation, logistics and mobilization, staff, and other costs

6 Business units which manufacture and offer products and services in the health field Productos Hospitalarios manufacturing and sale of hospital products (gowns, sutures, tissue, sterilization & chemical mixtures) Bioingeneria bioengineering hardware & assembly Telemedicina telemedicine center Reduces operating costs e.g. through assembling its own hardware; and Generates revenues through selling medical products and services. Generates employment Universidad Corporativa educational facility for medical resident MD degress and management training center for employees, including virtual classrooms FCV Soft sale of software systems for hospitals Comercializadora importer of medical supplies & pharma Cost competitive and certified for quality, enabling FCV to offer more affordable and accessible services to its beneficiaries. 6

7 Piloting a Digital Health System in Buccaramanga: Connects healthcare professionals at primary health facilities with access to expertise and diagnostic capabilities of specialized facilities Patients can receive diagnosis (and care?) at primary health facilities Software platform provides: E-learning for healthcare professionals Medical records collection Consultation and diagnostic services through telemedicine Currently in pilot phase with national government and state government in Buccaramanga Next phase would be to roll-out to other smaller cities once 7

8 Primary Care information technologies and communication integrated networks of health services Mobile Health Management Information System Health Staff + Health facilities + Insurances Companies Health staff + Health facilities Telehealth E-learning Data Portability Repository and Virtual Library Health staff Electronic Medical Record

9 AM BUCARAMANGA DIGITAL HEALTH

10 Reaccredited