Growing population booming Healthcare

One driver of growth in the healthcare sector is India’s booming population. By increasing rate of 2% annually by 2030, India is expected to surpass China as the world’s most populous nation. By 2050, the population is projected to reach 1.6 billion.

This population increase is due in part to a decline in infant mortality, the result of better healthcare facilities and the government’s emphasis on eradicating diseases such as hepatitis and polio among infants. In addition, life expectancy is rapidly approaching the levels of the western world. By 2025, an estimated 189 million Indians will be at least 60 years of age—triple the number in 2004, thanks to greater affluence and better hygiene. The growing elderly population will place an enormous burden on India’s healthcare infrastructure. Thus requiring greater and better healthcare.

However, India’s thriving economy is driving urbanization and creating an expanding middle class, with more disposable income to spend on healthcare.

Thanks to rising income, today at least 50 million Indians can afford to buy Western medicines—a market only 20% smaller than that of the UK. If the economy continues to grow faster than the economies of the developed world, and the literacy rate keeps rising, much of western and southern India will be middle class by 2020.

Indian Healthcare Scenario

Dr. Parag Sancheti
Chairman, Sancheti Institute
of Orthopaedics & Rehabilitation, Pune

Healthcare has emerged as one of the most progressive and largest service sectors in India. The Indian healthcare sector is expected to become a US$ 280 billion industry by 2020 with spending on health estimated to grow 14 per cent annually. Everyone is concerned about the quality of Healthcare services. We, the medical and the healthcare management fraternity, need to work together to improve the quality  and create an awareness.

The ideal ratio for hospital beds per 1000 population is 4 however, current ratio stands at 1.11 hospital beds per 1000 population. Thus India would require another 1,75 million beds by the end of 2025. Today the challenge in front of the healthcare industry is to make to access to healthcare available and inclusive as also to ensure the quality of healthcare consistent across the country, and to reduce the cost of delivery without comprising on the quality. These challenges can be overcome by improving budgetary allocation to public healthcare, and introduction of a proper regulatory mechanism to improve the quality of the service delivery. The large scale public health challenges need to be met with technology enabled solutions as well.

Medical Tourism

Dr. Parag Sancheti

India has emerged as a hub for medical tourism with advanced diagnostic equipments and excellent infrastructure. India offers world class medical facilities, and has state-of-the-art hospitals and the best qualified doctors. Holding the competitive advantage of cost differentiation as compared to western healthcare centers, patients from other countries visit India for their medical needs. The Ministry of Tourism (MOT), Government of India has enhanced the Medical Visa by extending it to three years from 6 months. Leading healthcare providers are also striving to make India an international health resort, with an airport to airport concept of health tourism.

Private Sector enables more than 70 percent of the healthcare in India:
The rising standard of living and willingness to pay for quality healthcare has led to the emergence of high quality private hospitals with all the facilities available under one roof. Cost of services is also comparatively less. Quality of healthcare has improved and the success rates of Indian healthcare providers is equal to or better than their counterparts in developed countries High end quality medical services at corporate hospitals have positioned India as a preferred destination for medical / surgical care on the global map. In a nutshell, healthcare is poised to take a quantum leap with opportunities a plenty. The right people at the right time with the right resources will emerge as winners.

All is well.

Dr. P.V. Bokil

Principal, PGDHM

Sancheti Hospital, Pune

Every  Indian  citizen has a similar dream about healthcare. With the scientific advances in medical diagnostics and modern technological innovations, such a dream should be a reality.
In last three years ‘HOSPIKON’ conferences have attempted to address the issue so dear to us. The healthcare industry in India has come a long way from the days when availability of medical professionals was under question. Privatization of healthcare industry has revolutionized and brought in change in the aptitude and attitude of healthcare providers.

But today, healthcare industry in India is growing and moving ahead neck to neck with the other major industries like pharmaceuticals & software industry of the country and as a result of significant scientific advancements, a new political landscape and rapidly changing regulatory environment , market demands from employers and consumers, and technology-enabled connectivity, the industry is undergoing a major structural transformation. This transformation is creating opportunities and challenges for traditional health-related sectors to the health sector in India; several foreign companies are intending to invest in the country. Hence, the health care industry in India is reckoned to be the engine of the economy in the years to come.

Health care industry trends manifest an upward growth but several areas need to be attended to for enhancing health care services for the common man. Owing to the vast differences in medical expenses in western countries and that of India, it has become one of the favorites for health care treatments. But in order to meet the international standards, the existing health care industry is required to alter the mode of operation for generation of higher revenue contribution to the GDP of the country. Therefore, hospital Accreditation process has generated tremendous response in the form of I.S.O. or N.A.B.H. or J.C.I accreditations throughout the country. This  is a step in right direction. Thus, TQM and CRM are the key words in the healthcare industry enabling to remain competitive and cost-effective.

Taking a look at the healthcare industry in India, how it has evolved, the innovations that have taken place in the industry, the emerging trends and the opportunities for the future, and how the healthcare providers are endeavoring to provide services to India’s vast and widely spread population, through innovation method, is surely going to be worth a watch.
According to the Mudliyar Committee, approximately, 25,000 hospital manager’s jobs would be created in next five years to service additional 5,00,000 hospital beds in the country.
I hereby welcome you to this booming healthcare industry with great career opportunities, where the Post Graduate Programme in Healthcare Services offered by Sancheti Healthcare Academy provides the right platform to tap these opportunities.  

Green Hospitals: Setting New Standards

Dr. Vivek Desai
Managing Director
Hosmac India Pvt.Ltd

Healthcare industry is growing at a rapid pace not only in India,   but    globally as well. In India itself we need to triple our hospital infrastructure to come closer to the World Health Organization norm of 4 beds per thousand population. This will call for massive capital infusion and will also increase the demand of such infrastructure on the already scare resource of energy as hospitals building operate 24 hours 365 days and are at least 50% percent air-conditioned building if not 100%.

In our context, i.e. of Green Healthcare, there is a lot we should, can and need be doing for the cause. Many of those who keep a tab on the profitability aspect of a hospital, would be aware of he electricity costs. What you may not be aware of is the collective impact that we as an industry have on the electricity consumption.

There are two important lessons to be gleaned from above statistics, one is that these are current figures, and that the consumption, commensurate with expansion in the number of beds, is slated to grow by another 8.5 million kWh / year for the next few years. The second learning is to be had from the variation in the two extreme figures in the range. Understandably, there would be multiple and valid reasons to account for this variation of almost 100% - but if facilities at both the ends of the spectrum are working, then there is room for revisiting. In any case, it is established that if energy conservations measures are adopted and coupled with enabling architectural design to harness natural light and ventilation, it should be possible to bring about a reduction of 10% as has been evidenced by a number of case studies. A10% reduction would imply a saving of up to INR 800 million every year, sufficient to cater to the capex requirement of setting up a 150 bed tertiary care hospital! Every year!

Mrs. Manisha Sanghavi Executive Director Sancheti Healthcare Academy, speaks about largest growing service industry - Healthcare

An exciting future, A rewaring career 

Growth - Healthcare is one of the largest growing service industries in the world. With a sustained annual growth of 23%, India too is an active player in this global success story. The urgent need of today and the future is professionally qualified managers and leaders who spearhead this huge opportunity. 

 

Business - Along with the vast state operated facilities, leading business houses are investing heavily into the healthcare sector. A new vision has to be established with well trained professionals, to manage this industry as a responsible corporate business.

Sector - Healthcare is not all about doctors, nurses and technicians, but much more than that. The hospitals and services are finely tuned enterprises that need a detailed level of management. Overall, some of the areas of diversification are –

• Hospitals

• Insurance

• Diagnostics

• Pharmaceuticals

• Medical tourism

• Manufacturing sector support

• IT and ITES

• Entrepreneurship and Consultation

Prospects - With endless opportunities, the future of Healthcare business is brighter than ever. India is the preferred healthcare destination amongst the emerging countries across the world. The Indian healthcare industry has the potential to achieve the same exponential growth as the software sector exhibited in the previous decade. 

 

Challenges - Be ready to tap this vital and lucrative industry. Get trained under the best of professional with decades of experience in healthcare and its management. Work in the latest infrastructure with a highly optimized syllabus, meeting the needs of today and tomorrow.

PG course in healthcare at Sancheti institute

With surveys estimating that the Indian healthcare industry is set to grow from the present $40 billion to around $280 billion by 2020, there is great demand for trained manpower in the industry. However, owing to the lack of institutes taking into consideration the management needs of the healthcare industry, there is also a lack of skilled manpower, said Dr KH Sancheti, founder, Sancheti Hospital. To train students specifically for the industry, the Sancheti Healthcare Academy (SHA) has announced a post graduate programme in healthcare. 

The programme will facilitate regular interaction between students and people from the healthcare, pharmaceutical and manufacturing industry. 

Students from any stream can enroll themselves for the course. “The first year will be common for all the students. The specialised course will be in the second year,” said Manisha Sanghavi, executive director, SHA. 

The main objective of the programme will be to give the students exposure to the industry. “The people from the industries will be involved in the curriculum: Teaching as well as placements. Students will be offered a three-month internship in the company of their choice,” said Parag Sancheti, who will be involved with the institute. 

he programme will cover areas such as hospitals, insurance, diagnostics, pharmaceuticals, medical tourism, manufacturing sector support, IT and ITES, entrepreneurship and consultation. “India has emerged as a medical tourism hub because of expertise, the cost factor,” said Sancheti.