NAYA JEEVAN (New Life in urdu/hindi) is a social enterprise that seeks to bring low-income populations throughout the emerging world out of poverty by providing them with affordable access to quality healthcare embedded within an ecosystem of socioeconomic opportunity. Our initial focus is South Asia & Latin America with ongoing operations in Pakistan and to commence in Mexico/US.
Our 2020 vision is that NAYA JEEVAN will have catalyzed a more socioeconomically just system where a majority of low-income South Asians and Latin Americans have affordable access to quality healthcare in an ecosystem of socio-economic opportunity.
South Asian governments such as India & Pakistan spend an abysmally low 0.9% to 2.1% of their GDP on health leaving 99.3% of the population deprived of access to quality healthcare. A large portion of this pool (80 million lives in Pakistan) is comprised of semi-skilled labor working in the supply chains of corporations or working informally as drivers, maids, etc. in the houses of corporate managers/executives.
We partner with Multinational Corporations (MNCs) to cascade the NAYA JEEVAN health plan up and down the supply/value chains of MNCs, targeting large pools of affiliated workers in both the corporate, academic, public, NGO and SME sectors. Majority insurance contributions(~80%) are made by the primary employer while minority contributions are made by the beneficiary (~10%) and the employer’s employer/contractor (~10%), leveraging economies of scale, risk-pooling and existing marketing and distribution channels.
Over 25,000 members have been enrolled in the NAYA JEEVAN health plan across 70+ organizations. In addition, over 250,000 urban slum dwellers have been provided access to quality primary care through the NAYA JEEVAN preventive health plan.
For every dollar of incoming insurance contribution (revenue), 60-80 cents are used to buy health plans from insurance underwriters (suppliers). The remaining gross surplus is used to cover our value-enriched services (VAS) including: (i) 24/7 access to family doctors via mobile phone for consultation/patient navigation/claims optimization, (ii) preventive health services tailored to address identified health risks in target populations, (iii) health risk assessments and surveillance screening, (iv) intensive beneficiary orientation to health insurance plan
- $380,000 in revenues 2012
- $600,000 annual budget for 2014
- Cash-flow positivity forecast for Q2’2016
- $9.8M NPV; 90% IRR
- $1.9M growth capital are to be sourced in 2014-15 for optimal scale & sustainability In Pakistan
To learn more about NAYA JEEVAN in 90 Seconds: http://www.youtube.com/watch?v=YJYFFuLFrbY&feature=feedlik