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Quit job to take care of parents, did TPA business, now has Rs 3bn wallet – GKTodayCurrentAffairs.Com

New Delhi. Mechanical Engineer by profession. If he didn’t feel like working, he did an MBA in Marketing. Head of Sales and Marketing at Hutchison Telecom (now Vodafone Idea). Still, Casual left the corporate world. The reason is to take care of the health services of his elderly parents who live in India.
The person you speak of above is the mechanical engineer Girish Rao. He started Vidal Health in 2002 in Bangalore. Vidal Health provides Third Party Administration (TPA) services in the healthcare space. Shankar Bali, a telecom and fintech professional, joined him as Deputy CEO. According to the news published on Your Story, today Vidal Health manages a premium portfolio of Rs 3000 crores.
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Jeff Bezos was becoming a champion on the Internet, he was inspired by him
Girish started a business to help Non-Resident Indians (NRIs) with health services for their elderly parents living in India. He says: “The NRIs who lived in the US had trouble caring for their parents who lived at home (India). They couldn’t travel frequently between the two countries. At the time, Jeff Bezos was on the internet. Becoming a champion. Inspired by him, I launched a service portal for NRIs and their parents.” Girish tried many models to create an NRI database. These ranged from working with banks to acquiring a company that physically posted NRI emails without internet access to their elderly parents.

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All the money invested in the business was sunk
Girish’s business did not take off and between 2000 and 2002, Girish lost the funds he had invested. Yet despite this, he realized that the network of hospitals he had built in major Indian cities could come in handy when the government opened up health insurance to the private sector. He says: “In 2001, there was a white paper that explained how private organizations could exist in this space. Looking at the document, I felt that I had already tried to create such an organization. A network has been created for this. In 2002, I applied for and got the license”.

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Liberalization and the growing popularity of the Internet increased business
The liberalization of the insurance industry in India in the late 1990s and the growing popularity of the Internet accelerated Girish Rao’s entrepreneurial journey. Girish, whose goal was to challenge the status quo and solve complex problems, told YourStory: “At that time, the Indian insurance industry was opened up to private organisations. I got a license and provided health insurance policy holders in India and abroad a good reputation Vidal Health was born with a mission to provide quality TPA services.

Vidal works in more than 800 locations
Currently, Vidal, one of India’s leading healthcare management companies, operates in more than 800 locations in India and partners with more than 10,000 service providers, including hospitals, diagnostic laboratories and physicians. Girish claims that Vidal settles more than one million claims and eight lakh pre-authorization requests each year. He even manages a premium portfolio of Rs 3000 crore in health insurance. For Girish, however, the failure of his first venture planted the seed for the founding of Vidal Health.

Tags: Becoming a successful entrepreneur, Business, business news, business news in hindi, success story


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