BioVoice News June 2016 Issue 2 Volume 1 - Page 37

FEW FACTS ABOUT VIJYOTI FOUNDER Mr Vijay G Pande has over five decades of experience in development of educational institutions, R&D protocols and regimes focused on societal benefits, and related capacity development in South Asia and South East Asia. He is an alumnus of the London School of Economics, University of London. During his over sixteen years with the Ford Foundation, and subsequent fourteen years with the International Development Research Center (IDRC), Canada, he was intimately associated with Population Foundation of India, National Institute of Immunology, IIMAhmedabad, IIT-Kanpur and lot many other institutes in India and abroad. He is a founder member of the London School of Economics Society, New Delhi. What drives the need? • 1.2 billion people in India need 12 million units of blood annually but there is collection of only 9 million - a 25 percent deficit. • Growing awareness about evidence-based and not the current behavior based blood transfusion. ROTEM-based diagnostics related to excessive bleeding is targeted and evidence-based that helps doctors in judicious use of blood transfusion and use of blood products thereby minimizing use of blood transfusion. This in turn minimizes risks of mortality, morbidity, hospital-acquired infection – sepsis – arising from RBC transfusion. It also leads to reduction in costs to patient, hospitals, and other stakeholders like medical insurance companies and blood banks. As per Mr Vijay G Pande, Managing Director of Vijyoti Management And Communications Learning Institute and Founder – President of Vijyoti Education Foundation, “Vijyoti’s experience in the health sector, where it has worked with noted companies/institutions like Daiichi and Ranbaxy, and my own experience in institution building and capacity development in the health sector, for example, the Population Foundation, and National Institute of Immunology through my former association with the International Development Research Centre, Canada, and the Ford Foundation make us a natural partner of Tem International.” On the question of the nature of partnership with TEM, Mr Pande says, “Leveraging its expertise in human resources and marketing communication for capacity development and change, Vijyoti partners with select companies who offer innovative solutions for mass benefit, from start-ups to Fortune 500 companies, family-owned to multinationals, across the globe. Our partnership with TEM too is both for marketing and after sales, and – equally important – for educating and creating awareness on PBM through a program of continuing education in this area.” Economic viability of ROTEM As per the management of Vijyoti, the device is in the median price range of medical devices in India and the benefits of the technology allows for immense benefits that give a return on investment within 3 to 6 months, as seen in US, Canada and Europe, depending upon utilization. Applying the concept of PBM, the devices help hospitals save millions of dollars annually on blood products, optimizes patient healthcare and most importantly, ensures efficient use of blood, a scarce resource, avoiding wastage and promoting blood conservation. As per Mr Pande, the market potential for ROTEM is within the realm of economic viability. “Our immediate plans for ROTEM’s adoption are focused on educating all stakeholders on the concept and fundamentals of Patient Bleeding Management System through a programme of Continuing Medical Education, he mentioned while elaborating further, “If we consider a simple scenario where one unit of blood costs around Rs 1500, the probable market size of blood in India (1500 x12) would be Rs 18000 million (Rs 18 billion/1800 crores) market. Blood and blood components have generated billions of dollars in revenue for entities that deal in non-profit blood supply even though profiteering is not one of the things associated with blood banking.” BIOVOICENEWS.COM 37