If you'd like to submit an article in this section of www.hospitalinfrabiz.com then write to us at email@example.com
Branding a New Hospital - Indian Perspective Dr. Ravindra Pratap Gupta, Head of Marketing & Strategic Planning, SevenHills Hospital & Healthcity
Overview Healthcare Sector in India The Indian Healthcare Sector is expected to reach US$100 billion by 2015 from the current US$ 65 billion, growing at around 20% a year, according to rating agency Fitch. Some of the major factors driving the growth in the sector include increasing population, growing lifestyle related health issues, cheaper cost of treatment, thrust in medical tourism, improved health insurance penetration, increasing disposable income, government initiatives and focus on Public Private Partnership (PPP) models
Hospital and diagnostic centres FDI inflow was US$ 1.3 billion during April 2000 and March 2012, according to the latest Department of Industrial Policy & Promotion (DIPP) data
Medical and surgical appliances FDI inflow stood at US$521.6 million during the same period, according to DIPP data
The drugs & pharmaceuticals sector has attracted FDI worth US$9.2 billion between April 2000 and March 2012
Medical tourism in India has also received a boost with arrival of patients from countries with advanced medical system. This underlines the fact that India has good infrastructure and talent. According to a new report by RNCOS, titled “Booming Medical Tourism in India” India’s share in Global Medical Tourism Industry will reach around 3% by end of 2013. The report states that medical tourism is expected to generate revenue around US$ 3 billion by 2013 growing at CAGR of around 26% during 2011-2013. The number of medical tourist is expected to grow at a CAGR over 19% during forecast period to reach 1.3 million by 2013
The Indian health insurance market is also on upsurge providing lucrative growth avenue for both the existing players as well as the new entrants. According to RNCOS report, the health insurance market is one of the fastest growing & second largest non-life insurance segment in the country. Posting tremendous growth in last two fiscals, the health insurance premium is expected to grow at a CAGR of over 25% for period spanning 2009-2010 to 2013-2014.
According to a survey conducted by consulting firm, Grant Thornton, India is expected to witness largest number of mergers and acquisitions in the pharmaceutical & healthcare sector in 2012.
While above facts are staggering and encouraging thus setting up a hospital has become an interesting investment option by entrepreneurs in private sectors for growing apathy of government towards this sector as can been seen from last 10 years slow passed progress by government for healthcare compared to private players. With India shinning story healthcare sector has witnessed expansion in past 5 years and even witnessing now. But every new development has its sets of challenges
Broadly classified in Private & Public Hospitals various Types set up exist
Government aided and run Hospital
Private Hospitals (Trust & Charitable Hospitals)
Private Public Partnership
In addition to above most hospital either staff Full Time Consultants or Visiting Consultants Model or a combination of both. Healthcare Delivery Forms:
Nearby established Hospital -The hospitals (Private or Public Set ups) have been from many years and have established its independent identity or an extension arm of established chain. Have Drs established repute among the nearby GP fraternity and won patient’s trusts and confidence with competent staff and care for patient in set ups operating.
Nursing Homes -Smaller set ups as 5-50-100-200 bedded nursing homes in neighborhood offering convenience of treatment and associated established full time or visiting consultants.
Visiting Consultants -Good nexus of referral patient’s base from among Dr Fraternity and allied referral community centres for effective PR practiced from many years.
Polyclinics -Concept in practice for years, providing convenience and specialist availability at one place. Generally located in important areas carefully selected by owners with chemist in-shop facility optionally/selectively.
Satellite Clinics- Concept gaining fast acceptance for convenience of patients and internet prevalence with electronic medical records facility and connected to group hospital and major consultants visiting with consultation at site or telemedicine facility at such centres
Diagnostic & Imaging Centres -Mushrooming self managed and part of reputed chains gaining faster acceptance being in neighborhood with giving services as home sample collection & priority report facility.
Physiotherapy Centres -Individual centres at important locations or becoming important by way of publicity and quality services offered from time to time.
Trauma & Burn Centres -Specialized centres run by government and private operators doing a good service for needy patients requiring assistance
Telemedicine -With development of ICT (Information Communication Technology) as internet this branch is developing and connecting healthcare to far flung rural or less developed healthcare facility regions/areas.
A Hospital set up coming with all forms of healthcare delivery or chosen healthcare delivery (primary, secondary, tertiary healthcare) has to view all above competition in a positive way and work in synergy for providing an effective framework then only the community can benefit and cost of investment can be justified and recovered in few years, than wait for a decade and continue to be a loss making venture for years together......................Continued