Dr. Devi Shetty was Mother Teresa's cardiac surgeon in the 1980's. Today he offers cutting-edge medical care in India at a fraction of what it costs elsewhere in the world. His flagship heart hospital charges about $2,000, on average, for open-heart surgery, compared with hospitals in the U.S. that are paid between $20,000 and $100,000, depending on how complex the surgery is.

The approach has transformed health care through a simple premise that works in other industries: economies of scale. By driving huge volumes, even of sophisticated procedures as delicate as open heart surgery, Dr. Shetty has managed to drive down the cost of health care dramatically. He plans to take his business model elsewhere in the world including to the United States.

Read more about Dr. Devi Shetty in a Wall street journal article I shot some photos for.