Thursday, January 13, 2011

Future Trends in Healthcare Industry in India

Today’s Google Health care News discussed a story regarding “Future Trends in Healthcare Industry in India”. The synopsis of the news item which I enjoyed while reading.

Growing population, increasing affordability, comparative cheaper treatment costs as opposed to the west and medical tourism thereof, increased health insurance penetration, increased patient awareness, out-of-the-box unconventional thinking by the healthcare players for better operations, government opening up its arms to PPP and even providing tax holidays will be the key factors to look out for which would drive the future of healthcare in India.
According to recent studies conducted, the customer's (patient) aspirations are fast changing. Customers are growing more aware of their health needs, demand quick response, less waiting times, and above all - demand nearness of the healthcare unit to them. Customers though now demand better quality care; they however now do not want to travel much as in earlier days.
India has had notable achievements within the healthcare sector since independence in 1947. Life expectancy has doubled and infant mortality and crude death rates have been greatly reduced. Some diseases, such as small pox and guinea worm, have been eradicated. Others, such as leprosy and polio, have been nearly eliminated. And India's doctors and hospitals are increasingly receiving recognition for the quality of care they provide.
Nevertheless, India faces considerable challenges. For example, the country accounts for a relatively large share of the world's disease burden. And, while India's burgeoning middle class has greater access to excellent healthcare, the vast majority of citizens still have limited access to basic care. The quality of care varies significantly, as well. Also, India represents the world's second largest populated country. Industry estimates expect around 76 million Indians to be above 65 years of age by 2012, thereby increasing the prevalence of several chronic diseases. As the Indian population ages, demand for healthcare services will only increase.