He is pretty similar to Dhanvantri, but is more about healing fatal diseases and saving people from the hands of Death. Lord Mrtiyunjaya protected Sage Markandeya (Immortal and ever-young) from Yama (Death) and hence got the name which directly translates to 'Victory over Death'.
Mahamrithyunjaya Homam is very effective for removing some specific evil planetary effects or yogas of someone's horoscope including KALSARP YOGA that repeatedly hinders the progress in life. Kaal Sarpa Yoga is one of them.Maha Mrinthyunjaya Homam is invariably associated with Maha Mrithyunjaya Mantras and Thousands & thousands of Maha Mrithyunjaya Japas which are really important factors of this Homa. This is said to protect the man against accidents, any kind of misfortune, fears of death etc.
Maha Mrityunjaya homam is dedicated to Shiva devudu to relieve from very serious illness or avoid untimely death. Maha Mrityunjaya homam is performed to achieve Jaya or Victory over Mrityu or death.
This homam is performed by invoking Shiva devudu in the Mahakaal form, followed by the chanting of Maha Mrityunjaya Mantra for Longevity of Life and then performing the Mrityunjaya homam. Nakshatra Homam is usually coupled with Maha Mrityunjaya homam.
This homam can be performed during the date compatible to the Janma Nakshatra of the person who is suffering from health issues or the person who is having the dosha in their horoscope.