The Hindu Business Line : AyurVAID sets out to break stereotypes

Steering clear of images linking ayurveda with expensive rejuvenation massages, over-the-counter medicines, or an alternate science not backed by standardisation and documentation, the three-year-old AyurVAID’s promoters are clear on the growth path for the hospital chain, possibly the country’s only such project to be funded by a venture capital fund.

AyurVAID is not a resort or a spa, says Mr Rajiv Vasudevan, Founder, upset that the science is “hijacked” by misleading images.

Looking to build bridges with modern science by working with insurance companies to dispel myths on ayurveda and get insurance cover for patients, or having modern allopathic doctors working with ayurvedic doctors to dispense documented treatment — AyurVAID seeks to establish that ayurveda is capable of delivering serious medical care with rigorous documentation and quality control, Mr Vasudevan told Business Line.

After a corporate career, Mr Vasudevan worked with the Kerala Government, headed its IT mission and later helped draw up a biotech roadmap for the State.

About 12 third party administrators (TPA) have empanelled AyurVAID, says co-promoter Mr Ganesh Subramaniam.

Insurance

Since modern medicine and diagnostic tools are used, insurance companies are comfortable, and to explain it further to them, the ayurvedic treatment is equated to its nearest allopathic equivalent, he said.

For example, osteoarthritis is equated to sandhigatavatam, sciatica to gridhrasi and dyspepsia to agnimandyam. Mr Subramaniam was the co-founder of TPA Medi Assist, subsequently bought by Anil Ambani’s Reliance ADA group.

AyurVAID is in preliminary stages of talking to overseas insurance companies to promote insurance-covered medical travel, he added. The company has agreements with TPAs such as TTK Healthcare Services, Family Health Plan Ltd, Paramount Health Services and United Healthcare Services.

Chronic treatment

Ayurveda can address chronic conditions such as diabetes, hypertension, lifestyle disorders, “step-down” treatment for the rehabilitation of patients who may have had a stroke, and all this at affordable costs, says Mr Vasudevan.

Also, according to neurologist Dr Rajesh Iyer, ayurveda could support integrated treatment in neuro-disorders, multiple sclerosis and muscular degenerative conditions, where allopathy may not have answers or only expensive medicines are available.

Dr Iyer, a consultant neurologist with Bangalore’s Narayana Hrudayalaya, is also associated with AyurVAID.

Expansion

After Bangalore, the company is looking to set up two more 15 to 30-bed hospitals in smaller cities.

With two existing hospitals in Kerala,

AyurVaid also has Mumbai on its radar, he said. AyurVaid had received Rs 4.5 crore from US-based social venture capital fund Acumen.

AyurVAID’s model to mainstream traditional science to complement modern medicine at affordable prices attracted Acumen to the project, explains Mr Biju Mohandas, Country Business Manager of the Fund.

The project is looking at six more hospitals this fiscal, he said.

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