Delivering the key note address at the World Innovation Summit for Health (WISH) here, Shetty said the next big thing in health care will not be "magic pill" or a new operation but information technology.
Shetty said "the present Narendra Modi led government was very "progressive" and one will witness major changes in medical education and healthcare in India in the next couple of years. There is no other choice," he told PTI.
During the speech, he referred to estimates by WHO which predicted a shortage of 12.9 million healthcare workers presently. However, he said that his own estimates suggests that it is going to be twice as that as India only requires 3 million new doctors and 6 million nurses today.
"What we can do collectively and what is desperately required in this world is a global university for medical nursing and para-medical education," said Shetty, who runs Narayana Health in Bangalore.
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"We need to change it because cost of medical education has to come down significantly. Children from poor families should get into them and become doctors," Shetty said.
"Outstanding doctors throughout the world, who have magic in their fingers, passion to change things, generally come from deprived background. These are the children who have fire in the belly and work for 18-20 hours and change the way healthcare is delivered," he added.
"Existing medical universities will not be very happy with this concept (global university). It is not required that every country has their own medical university. India can afford but lot of African countries cannot afford it," he said.
He said that another big thing in healthcare is online clinics and elaborated that in the coming ten years, entire out-patient services provided by doctors will disappear and patients will stay at home and get online consultations.
Similarly, he also talked about replacing paper charts with ipads and said this will dramatically reduce the risk of hospital and doctors making medical errors which is one of the biggest problems in health care.
There are around 850 million mobile phone subscribers who are spending about Rs 150 per month, he said.