The healthcare market in India is large and growing rapidly. It includes hospitals, medical devices, insurance, and other services. The market is expected to reach $280 billion by 2020, growing at a rate of 22.9% annually. India has a large pool of trained medical professionals and lower costs compared to other countries. The government is taking initiatives to improve access and quality of healthcare through programs focused on rural health, insurance coverage, and using technology. The private sector accounts for 74% of healthcare spending and is an important part of meeting India's growing healthcare needs.
This is a report about Indian Health care industry and How different sectors like Hospitals, Pharmacy and Diagnostics industry are growing. What are the new government policies that are implemented for Health care sector in India.
By Mr. Irish Pereira. With perspective on Healthcare Infrastructure, this report consists of an brief introduction of Indian healthcare sector, its market size, its growth drivers, healthcare infrastructure in India both public as well as private, Key Players in the Private Healthcare Segment,
This is a report about Indian Health care industry and How different sectors like Hospitals, Pharmacy and Diagnostics industry are growing. What are the new government policies that are implemented for Health care sector in India.
By Mr. Irish Pereira. With perspective on Healthcare Infrastructure, this report consists of an brief introduction of Indian healthcare sector, its market size, its growth drivers, healthcare infrastructure in India both public as well as private, Key Players in the Private Healthcare Segment,
1. Health Policy,
2. Features of health policy,
3. Types of health insurance,
4. Ayushman Bharat,
5. Mediclaim Policy,
6. Types of Mediclain policy,
7. What mediclaim policy cover,
8. Types of Mediclaim policy,
9. What Mediclaim policy not covered,
10. Difference between Health Policy and Mediclaim policy
The Indian healthcare industry has progressed at an impressive pace over the past few years. The private sector has emerged as a vibrant force in the industry, accounting for almost 74 per cent of the country’s total healthcare expenditure.
The Indian healthcare revenues stood at US$ 68.4 billion in 2011 and is expected to reach US$ 158.2 billion by 2017. Of the total healthcare revenues in the country, hospitals account for 71 per cent, pharmaceuticals for 13 per cent and medical equipment and supplies for 9 per cent.
India offers both a huge patient pool, favourable regulatory environment and cost advantage for conducting clinical trials. The low cost of medical services has resulted in a rise in the country’s medical tourism, attracting patients from across the world.
The Government of India has created the National Health Mission (NHM) for providing effective healthcare to both urban and rural population.
HealthCursor Consulting Group India- Distribution and Marketing- Mobile network operators in Africa have identified the growing demand for financial services and micro insurance . Airtel Africa has partnered with MicroEnsure for Mobile Micro Insurance. The range of Airtel-branded insurance products includes life, accident, health, agriculture, and other forms of cover.
Connecting intermediaries, customers and surveyors- ICICI Lombard India's mobile initiative started simply enough, with a set of basic applications that gave customers a consolidated view of all their policies, a reminder service to renew a policy, and a way to track the status of a claim. But as they matured with the mobile platform, they re-visited the paradigm and devised new ways to provide customers with more value-added and user-friendly features. This is however restricted to Auto insurance only.
Encryption, Transactions and handling customer grievance- Public sector general insurance company United India Insurance launched a mobile-based real-time fund transfer facility for payment of premium. M-Power enables customers to renew their policies and also remit the premium for approved proposals. To use this facility, one has to get an MMID (an identification number called - mobile money identifier) from his/her bank and enable one’s mobile with the application given by the bank. However, there are only 10 banks on board with this platform. This initiative follows the launch of its Internet-based sales, customer grievance portal and information-cum-sales kiosks.
Sales, awareness and providing access- Bima, a young Swedish microinsurance company, is using mobile phones to sell as many as three billion new insurance policies to the global poor. Bima, that has begun to access this untapped market, is now one of the largest mobile insurance platforms in the world. In just three years, Bima has acquired 4 million clients in Africa and Asia and is adding 400,000 new subscribers per month. Bima has been tackling many of the obstacles—education, pricing, premium collection—that prevent poor people from obtaining such benefits. For instance, Bima products such as life, accident and health insurance cost "as little as $0.20 to $6.00 a month. Last month, Leapfrog invested $4.25 million in Bima, which will allow the company to expand even further within Africa and Asia as well as reach into new markets in Latin America.
Vibrant Gujarat Summit Profile on Healthcare Sector investmentVibrant Gujarat
To be the network of finest public healthcare institutions in the state of Gujarat, providing quality medical care services with the state of the art technology with easy accessibility, affordability & equity to the people of Gujarat & beyond.
Medical services are meant for curative care via diagnosis and treatment. Medical Relief services mainly are centred in the urban areas of the state and are delivered through the following hospitals, which are the leading hospitals at the district and State Infrastructure hospitals, the sub‐district level for all the districts.
Detailing the overall profile of the Healthcare sector in India and Gujarat, this presentation makes a point for the immense business & investment opportunities present in the sector owing to government initiatives & schemes to achieve accessible, affordable & quality healthcare for all.
1. Health Policy,
2. Features of health policy,
3. Types of health insurance,
4. Ayushman Bharat,
5. Mediclaim Policy,
6. Types of Mediclain policy,
7. What mediclaim policy cover,
8. Types of Mediclaim policy,
9. What Mediclaim policy not covered,
10. Difference between Health Policy and Mediclaim policy
The Indian healthcare industry has progressed at an impressive pace over the past few years. The private sector has emerged as a vibrant force in the industry, accounting for almost 74 per cent of the country’s total healthcare expenditure.
The Indian healthcare revenues stood at US$ 68.4 billion in 2011 and is expected to reach US$ 158.2 billion by 2017. Of the total healthcare revenues in the country, hospitals account for 71 per cent, pharmaceuticals for 13 per cent and medical equipment and supplies for 9 per cent.
India offers both a huge patient pool, favourable regulatory environment and cost advantage for conducting clinical trials. The low cost of medical services has resulted in a rise in the country’s medical tourism, attracting patients from across the world.
The Government of India has created the National Health Mission (NHM) for providing effective healthcare to both urban and rural population.
HealthCursor Consulting Group India- Distribution and Marketing- Mobile network operators in Africa have identified the growing demand for financial services and micro insurance . Airtel Africa has partnered with MicroEnsure for Mobile Micro Insurance. The range of Airtel-branded insurance products includes life, accident, health, agriculture, and other forms of cover.
Connecting intermediaries, customers and surveyors- ICICI Lombard India's mobile initiative started simply enough, with a set of basic applications that gave customers a consolidated view of all their policies, a reminder service to renew a policy, and a way to track the status of a claim. But as they matured with the mobile platform, they re-visited the paradigm and devised new ways to provide customers with more value-added and user-friendly features. This is however restricted to Auto insurance only.
Encryption, Transactions and handling customer grievance- Public sector general insurance company United India Insurance launched a mobile-based real-time fund transfer facility for payment of premium. M-Power enables customers to renew their policies and also remit the premium for approved proposals. To use this facility, one has to get an MMID (an identification number called - mobile money identifier) from his/her bank and enable one’s mobile with the application given by the bank. However, there are only 10 banks on board with this platform. This initiative follows the launch of its Internet-based sales, customer grievance portal and information-cum-sales kiosks.
Sales, awareness and providing access- Bima, a young Swedish microinsurance company, is using mobile phones to sell as many as three billion new insurance policies to the global poor. Bima, that has begun to access this untapped market, is now one of the largest mobile insurance platforms in the world. In just three years, Bima has acquired 4 million clients in Africa and Asia and is adding 400,000 new subscribers per month. Bima has been tackling many of the obstacles—education, pricing, premium collection—that prevent poor people from obtaining such benefits. For instance, Bima products such as life, accident and health insurance cost "as little as $0.20 to $6.00 a month. Last month, Leapfrog invested $4.25 million in Bima, which will allow the company to expand even further within Africa and Asia as well as reach into new markets in Latin America.
Vibrant Gujarat Summit Profile on Healthcare Sector investmentVibrant Gujarat
To be the network of finest public healthcare institutions in the state of Gujarat, providing quality medical care services with the state of the art technology with easy accessibility, affordability & equity to the people of Gujarat & beyond.
Medical services are meant for curative care via diagnosis and treatment. Medical Relief services mainly are centred in the urban areas of the state and are delivered through the following hospitals, which are the leading hospitals at the district and State Infrastructure hospitals, the sub‐district level for all the districts.
Detailing the overall profile of the Healthcare sector in India and Gujarat, this presentation makes a point for the immense business & investment opportunities present in the sector owing to government initiatives & schemes to achieve accessible, affordable & quality healthcare for all.
To Study the Impact of Center and State Government Policies Rules and Regulat...ijtsrd
The Healthcare industry in India is made up of hospitals, medical apparatus, clinical trials, outsourcing, telemedicine, medical tourism, health insurance, and medical equipment. The industry is rising at a remarkable pace owing to its reinforced coverage, services and additional expenditure by the public as well as private investors. India’s constitution promises free healthcare for all its citizens, but in practice, the private healthcare sector is in charge for the majority of healthcare in India, and most healthcare costs are paid out of pocket by patients and their families, rather than by insurance. All government hospitals are obligatory to provide healthcare free of cost. India, a country with an ancient established system of medical science, first became familiar with the recent systems of medicine in the 17th century. India’s practical advantage lies in its large reservoir of skilled medical professionals. India is also cost efficient compared to its peers in Asia and Western countries. The price of surgery in India is about one tenth of that in the US or Western Europe. Shilpa Sontakke Puri | Dr. Anant Deshmukh "To Study the Impact of Center and State Government Policies Rules and Regulations on the Growth and Development of Healthcare Services with Foreign Nationals in India" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-3 , April 2022, URL: https://www.ijtsrd.com/papers/ijtsrd49807.pdf Paper URL: https://www.ijtsrd.com/management/other/49807/to-study-the-impact-of-center-and-state-government-policies-rules-and-regulations-on-the-growth-and-development-of-healthcare-services-with-foreign-nationals-in-india/shilpa-sontakke-puri
In this paper, we seek to map the current state of affairs in the healthcare delivery space in the eastern states, explore recent trends in the sector, identify key areas requiring immediate action and offer recommendations that can ensure equitable access and quality healthcare to all.
One of the most developed cities of India, the city of Chennai is the capital of Tamilnadu and many people from different parts of India come here to earn their bread and butter. Being a metropolitan, the city is filled with towering building and beaches but the sad part as with almost every Indian city
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Growing Prevalence of Lifestyle Diseases
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M Capital Group (“MCG”) predicts that with, against, despite, and even without the global pandemic, the medical technology (MedTech) industry shows signs of continuous healthy growth, driven by smaller, faster, and cheaper devices, growing demand for home-based applications, technological innovation, strategic acquisitions, investments, and SPAC listings. MCG predicts that this should reflects itself in annual growth of over 6%, well beyond 2028.
According to Chris Mouchabhani, Managing Partner at M Capital Group, “Despite all economic scenarios that one may consider, beyond overall economic shocks, medical technology should remain one of the most promising and robust sectors over the short to medium term and well beyond 2028.”
There is a movement towards home-based care for the elderly, next generation scanning and MRI devices, wearable technology, artificial intelligence incorporation, and online connectivity. Experts also see a focus on predictive, preventive, personalized, participatory, and precision medicine, with rising levels of integration of home care and technological innovation.
The average cost of treatment has been rising across the board, creating additional financial burdens to governments, healthcare providers and insurance companies. According to MCG, cost-per-inpatient-stay in the United States alone rose on average annually by over 13% between 2014 to 2021, leading MedTech to focus research efforts on optimized medical equipment at lower price points, whilst emphasizing portability and ease of use. Namely, 46% of the 1,008 medical technology companies in the 2021 MedTech Innovator (“MTI”) database are focusing on prevention, wellness, detection, or diagnosis, signaling a clear push for preventive care to also tackle costs.
In addition, there has also been a lasting impact on consumer and medical demand for home care, supported by the pandemic. Lockdowns, closure of care facilities, and healthcare systems subjected to capacity pressure, accelerated demand away from traditional inpatient care. Now, outpatient care solutions are driving industry production, with nearly 70% of recent diagnostics start-up companies producing products in areas such as ambulatory clinics, at-home care, and self-administered diagnostics.
The dimensions of healthcare quality refer to various attributes or aspects that define the standard of healthcare services. These dimensions are used to evaluate, measure, and improve the quality of care provided to patients. A comprehensive understanding of these dimensions ensures that healthcare systems can address various aspects of patient care effectively and holistically. Dimensions of Healthcare Quality and Performance of care include the following; Appropriateness, Availability, Competence, Continuity, Effectiveness, Efficiency, Efficacy, Prevention, Respect and Care, Safety as well as Timeliness.
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Objective: Provide comprehensive and compassionate care to infants, children, and adolescents in various healthcare settings (hospitals, clinics, etc.).
This includes tasks like:
Monitoring vital signs and physical condition.
Administering medications and treatments.
Performing procedures as directed by doctors.
Assisting with daily living activities (bathing, feeding).
Providing emotional support and pain management.
2. Health Promotion and Education:
Objective: Promote healthy behaviors and educate children, families, and communities about preventive healthcare.
This includes tasks like:
Administering vaccinations.
Providing education on nutrition, hygiene, and development.
Offering breastfeeding and childbirth support.
Counseling families on safety and injury prevention.
3. Collaboration and Advocacy:
Objective: Collaborate effectively with doctors, social workers, therapists, and other healthcare professionals to ensure coordinated care for children.
Objective: Advocate for the rights and best interests of their patients, especially when children cannot speak for themselves.
This includes tasks like:
Communicating effectively with healthcare teams.
Identifying and addressing potential risks to child welfare.
Educating families about their child's condition and treatment options.
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Objective: Stay up-to-date on the latest advancements in pediatric healthcare through continuing education and research.
Objective: Contribute to improving the quality of care for children by participating in research initiatives.
This includes tasks like:
Attending workshops and conferences on pediatric nursing.
Participating in clinical trials related to child health.
Implementing evidence-based practices into their daily routines.
By fulfilling these objectives, pediatric nurses play a crucial role in ensuring the optimal health and well-being of children throughout all stages of their development.
2. Introduction
• Healthcare has become one of India’s largest sectors - both in
terms of revenue and employment.
• Healthcare comprises hospitals, medical devices, clinical
trials, outsourcing, telemedicine, medical tourism, health
insurance and medical equipment.
• The Indian healthcare sector is growing at a brisk pace due to
its strengthening coverage, services and increasing
expenditure by public as well private players.
3. Indian healthcare delivery system is categorized into two major
components - public and private. The Government, i.e. public
healthcare system comprises limited secondary and tertiary care
institutions in key cities and focuses on providing basic healthcare
facilities in the form of primary healthcare centres (PHCs) in rural
areas.
The private sector provides majority of secondary, tertiary and
quaternary care institutions with a major concentration in
metros, tier I and tier II cities.
4. India's competitive advantage
• India has large pool of well-trained medical professionals.
• India is also cost competitive compared to its peers in Asia and
Western countries.
• The cost of surgery in India is about one-tenth of that in the
US or Western Europe.
5. Healthcare Market Size - INDIA
• The overall Indian healthcare market is worth around US$ 100
billion and is expected to grow to US$ 280 billion by 2020
(1 Billion = 1000 Crores)
• Compound Annual Growth Rate (CAGR) of 22.9 per cent.
6. • During 2008-20, the market is expected to record a CAGR of
16.5 per cent
7.
8. • Over 80 per cent of the antiretroviral drugs used globally to
combat AIDS (Acquired Immuno Deficiency Syndrome) are
supplied by Indian pharmaceutical firms
• Rural India accounts for over 70 per cent of the population, is
set to emerge as a potential demand source.
• Rising income level, greater health awareness, increased
precedence of lifestyle diseases and improved access to
insurance would be the key contributors to growth.
9. • The private sector has emerged as a vibrant force in India's
healthcare industry, lending it both national and international
repute. It accounts for almost 74 per cent of the country’s
total healthcare expenditure
10. • India requires 6,00,000 to 7,00,000 additional beds over the
next five to six years, indicative of an investment opportunity
of US$ 25-30 billion. Given this demand for capital, the
number of transactions in the healthcare space is expected to
witness an increase in near future
• The average investment size by private equity funds in
healthcare chains has already increased to US$ 20-30 million
from US$ 5-15 million
11. Market for AYUSH services
• A total of 3,598 hospitals and 25,723 dispensaries across the
country offer AYUSH (Ayurveda, Yoga & Naturopathy, Unani,
Siddha and Homoeopathy) treatment, thus ensuring
availability of alternative medicine and treatment to the
people
12. Market for Medical Tourism
• The Indian medical tourism industry is pegged at US$ 3 billion
per annum, with tourist arrivals estimated at 2,30,000.
• The Indian medical tourism industry is expected to reach US$
6 billion by 2018, with the number of people arriving in the
country for medical treatment set to double over the next four
years
13. Market for Telemedicine
• Telemedicine is a fast-emerging trend in India; major hospitals
(Apollo, AIIMS, Narayana Hrudayalaya) have adopted
telemedicine services and entered into a number of public-
private partnerships (PPP).
• The telemedicine market in India is valued at US$ 7.5 million
currently and is expected to grow at a CAGR of 20 per cent to
reach US$ 18.7 million by 2017.
14. Market for Health Insurance
• Private Health Insurance coverage is only 3% in India
• Market for insurance in India is much likely to become more
competitive in future. Growing number of foreign insurance
companies are likely to form joint ventures with Indian
companies
• Scope for growth of Health Insurance in India with CAGR 25-
30% in next 5-10 years
15. Emerging HUB : Kerala
• With greater number of hospitals getting accredited and
receiving recognition, and greater awareness on the need to
develop their quality to meet international standards, Kerala
aims to become India's healthcare hub in five years.
16. Govt. Initiative
• In the Union Budget 2017-18, the overall health budget increased
from INR 39,879 crore (US$ 5.96 billion) (1.97% of total Union
Budget) to INR 48,878 crore (US$ 7.3 billion) (2.27% of total Union
Budget).
• The Government of India aims to develop India as a global
healthcare hub. It has created the National Health Mission (NHM)
for providing effective healthcare to both the urban and rural
population. The Government is also providing policy support in the
form of reduced excise and customs duty, and exemption in
service tax, to support growth in healthcare.
17. Highlights of Union health Budget :
2017-18
• Harmonise policies and rules for the medical devices industry to
encourage local manufacturing and move towards improving
affordability for patients.
• Modify the Drugs and Cosmetics Act to promote generics and
reduce the cost of medicines.
• Set up two new All India Institute of Medical Sciences (AIIMS) in
Gujarat and Jharkhand.
• Convert 1.5 lakh sub centres in Indian villages to health and
wellness centres
• Set short and medium term targets for key health indicators and
bring down the Maternal Mortality Rate to 100 by 2018-2020 and
Infant Mortality Rate to 28 by 2019.
• Prepare action plans to eliminate Kala Azar and Filariasis by 2017,
leprosy by 2018, measles by 2020 and tuberculosis (TB) by 2025.
18. • The Government of Assam has launched the Atal-Amrit Abhiyan - Health
insurance scheme, which would offer comprehensive coverage for six
disease groups to below-poverty line (BPL) and above-poverty line (APL)
families, with annual income below Rs 5,00,000 (US$ 7,500).
• Diseases covered :
• Cardiovascular Diseases
• Cancer
• Kidney Diseases
• Neo Natal Diseases
• Neurological Conditions
• Burns
19. • The Government of India and the Government of the State of
Nagaland signed financing agreement and project agreement
respectively with The World Bank, for the ‘Nagaland Health
Project’ for US$ 48 million, which aims to improve health
services and increase their utilization by communities in
targeted locations in the state.
20. • The Union Cabinet has approved signing of an agreement with
the World Health Organization (WHO) under which WHO will
develop technical documents on traditional medicines which
is expected to lead to better acceptance of Indian systems of
medicines at an international level.
21. • The NITI Aayog (National Institute for Transforming India)
seeks to bring reforms in India’s public health system like
outsourcing primary healthcare to private doctors and
promoting competition between government and private
hospitals at the secondary level.
22. • A unique initiative for healthcare 'Sehat' (Social Endeavour for
Health and Telemedicine) has been launched at a government
run Common Service Centre (CSC) to empower rural citizens
by providing access to information, knowledge, skills and
other services in various sectors through the intervention of
digital technologies and fulfilling the vision of a ‘Digital India’.
23. • Mr J P Nadda, Union Minister for Health & Family Welfare,
Government of India has launched the National Deworming
initiative aimed to protect more than 24 crore children in the ages
of 1-19 years from intestinal worms, on the eve of the National
Deworming Day.
• Under the National Health Assurance Mission, Prime Minister Mr
Narendra Modi's government would provide all citizens with free
drugs and diagnostic treatment, as well as insurance cover to treat
serious ailments.
24. • The E-health initiative, which is a part of Digital India drive
launched by Prime Minister Mr Narendra Modi, aims at
providing effective and economical healthcare services to all
citizens.
• The programme aims to make use of technology and portals
to facilitate people maintain health records and book online
appointments with various departments of different hospitals
using eKYC data of Aadhaar number.
The compound annual growth rate (CAGR) is the mean annual growth rate of an investment over a specified period of time longer than one year Read more: Compound Annual Growth Rate (CAGR) http://www.investopedia.com/terms/c/cagr.asp#ixzz4eog2QZL2 Follow us: Investopedia on Facebook
