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There has been a significant ‘change of guard’ in the country. The new government is in place and anticipations are high that new economic policies will roll out sooner than later. After a long period of below-par performance, the ever-depreciating rupee has picked up pace and this may provide a major boost to trade ties with other countries. However, there are several other sectors that will greatly benefit from the rupee being on a positive spree, especially segments like leisure travel and medical tourism. The reason for this is obvious. In both cases, the visiting traffic is availing services within the country, thus giving a boost to both hospitality and <keyword id="6354525" type="COMPANY" weightage="100" keywordseo="Healthcare">healthcare</keyword> industries. 
 But right now, the focus is on the new <keyword id="6356374" type="POSITION" weightage="100" keywordseo="Health-Minister">Health Minister</keyword>, a medical professional himself. Dr <keyword id="196226" type="PERSON" weightage="100" keywordseo="Harsh-Vardhan">Harsh Vardhan</keyword>, who was responsible for the most popular pulse polio drive that he had undertaken when he was the health minister in Delhi government, has reaped rich benefits for a country that battled the dangerous disease and got rid of it. More progressive policies are expected to roll out, thanks to the new government’s initiatives. 
 
However, one cannot deny that rural health initiatives in India have been patchy, with the urban populace grabbing the largest chunk of the healthcare pie. For instance, 28% of the urban Indians have access to nearly 66% of healthcare initiatives while the rural majority struggles to access the remaining 34% benefits. 
 
India’s spending on healthcare is also dismal. It is just $43 (per capita) a year, compared to $85 in Sri Lanka, $240 in China and $265 in Thailand. In other words, India has been spending just 1.2% of its GDP over the past decade although it is now high time to increase the spending to at least 2.5%. 
 
But due to its urban approach, India has grown into a coveted healthcare destination, with liberal economic policies helping the healthcare sector grow better and faster. As specialty hospitals gun for private investments and corporatisation, the entire system tends to grow more hi-tech, efficient and professionally oriented – ensuring state-of-the-art facilities, speedy recovery and great hospital stay experience. In other words, India has been working towards a complete healthcare transformation for some time now. 
 
Over the past decade, even policy level changes have re-emphasized the vision of creating access to a minimum set of healthcare services for all. As for medical tourists seeking healthcare support in India and boosting several other industries in the process, the country offers some of the best facilities available in the world. 
 
The Indian healthcare system has seen a two-pronged growth strategy in the recent past. As the country is well known for its alternative and holistic healthcare systems like the Ayurveda, it has tried to tap the potential of both modern and traditional medicines to put in place a comprehensive healthcare system. 
 
 
Among the nations that are gaining popularity as the most coveted destinations for medical tourism, India is vying with countries such as Malaysia, Singapore and Mexico. A patient who visits India to seek medical treatment is also an important customer who will boost the local hospitality industry. In fact, when a person arrives here to avail of healthcare facilities, the average stay is 30 days and above, according to the data available. 
 
Confederation of Indian Industries (CII) also notes that about 150,000 medical tourists preferred India over other countries in 2005 although the sector enjoyed least support from the government. At that time, hospitals were not into branding in a big way and the recommendations or testimonies were few and far between. 
 
However, analysts who are following the trends in the healthcare sector are confident that the numbers will climb up to 3,200,000 by 2015, with major surgeries being carried out in areas such as bone marrow transplant; ocular disorders; liver, kidney and heart surgeries, and hip and knee replacement. 
 
At this juncture, it is critical to note that things had looked bright for India at the outset, but last year was not as growth-oriented as one would expect it to be. For one, private equity took a beating in terms of investments flowing into various industrial sectors. And the depreciating rupee brought PE investments in the healthcare sector down by 18.5% from the previous year. 
 
Recently, InternationalLiving.com conducted a global survey on retirement index and identified the countries with best healthcare systems in the world. Good policies, people-friendly facilities and affordability of healthcare services served as the parameters for this survey. France, Uruguay, Malaysia, Costa Rica and Mexico were rated among the best countries that provided the most evolved healthcare systems to their citizens. 
 
With healthcare and life sciences emerging as the major focus areas of investment and growth in the coming years, it is now imperative for the governments to take a huge leap in this direction. 
And the focus needs to shift from the urban-centred approach to rural areas which are lacking basic access to modern healthcare facilities till date.

Will India Witness A Boom In Healthcare
Sector?

Engineering, telecom, and healthcare sectors to add 12 million jobs by 2026 in India

<ul><li>India’s Chief <keyword id="193571" type="POSITION" weightage="20" keywordseo="economic-advisor">Economic Advisor</keyword> KV Subramanian claims that private sector healthcare is not much better than public sector healthcare even though it is much more expensive.</li><li>Coming a couple of days before the budget, this may be a shock for the likes of hospital chain operators like Apollo Hospitals, Fortis Health and Metropolis.</li><li>To address the information asymmetry in the healthcare system, the Economic Survey proposes setting up a central database for patient information and a regulator to oversee all stakeholders.</li></ul>Private sector healthcare in India is considered to be superior to the public sector because it’s more expensive and the quality is better. However, the latest economic survey points out that may not necessarily be the case. Therefore, India’s Chief Economic Advisor (CEA), KV Subramanian, has recommended the government must seriously consider a regulator for both <keyword id="10673739" type="UNKNOWN" weightage="20" keywordseo="private-hospitals-and-doctors">private hospitals and doctors</keyword>. Coming a couple of days before the budget, this may be a shock for the likes of hospital chain operators like Apollo Hospitals, Fortis Health and Metropolis. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Percentage change in stock price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apollo Hospital </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.14% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fortis Health </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.62% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Metropolis </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.06% </td></tr></tbody></table>Source: NSE closing prices on January 29 Data shown by the CEA to back his argument The rate of readmission — going back to a hospital for care after original admission — is higher in the <keyword id="6371888" type="UNKNOWN" weightage="20" keywordseo="private-hospitals">private hospitals</keyword> and healthcare facilities than in the public sector. This is based on data collected from the government-funded health programme, Prime Minister’s Jan Arogya Yojana (PMJAY) — also called the Ayushman Bharat Yojana. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Private sector admission rate </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Public sector readmission rate </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">70% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">64% </td></tr></tbody></table> According to the CEA, this is worrying not only because the private sector is more expensive, but also because readmissions tend to pinch the pocket more than original admissions and original. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Metric </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Original admission </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Readmission </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Average claim amount </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹12,652 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹19,295 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Average length of stay </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.6 days </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.5 days </td></tr></tbody></table> “So, a large proportion of deaths in India manifesting due to poor quality of healthcare is likely to reflect that the quality of treatment in the private sector may not be significantly better than that in the public sector in India,” said the Economic Survey. <div type="image" title="snapshot-1611921714260" msid="80585582" hostid="261" caption="&amp;lt;p&amp;gt;Variation in costs between private and public healthcare sector&amp;lt;/p&amp;gt;"></div> The government now plans to increase public healthcare spend to 2.5% of GDP to reduce the out of pocket spend from 65% to 35%. “Given the market failure due to asymmetric information, regulation in the healthcare sector is required,” said Subramanian, during the press conference. The CEA proposes this asymmetry can be mitigated using information from within the National Digital Health Mission, even within the framework of data privacy. “A standardised system for quality reporting on healthcare for hospitals, physicians, and insurance companies can start with basic input indicators to be reported mandatorily by healthcare stakeholders,” said the Survey. <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[]]></cdata></div> SEE ALSO: <a href="https://www.businessinsider.in/budget/news/highlights-from-indias-annual-economic-survey-ahead-of-budget-2021/slidelist/80574947.cms">Highlights from India’s annual economic survey ahead of budget 2021</a> <a href="https://www.businessinsider.in/policy/economy/news/latest-economic-survey-has-an-entire-chapter-on-sp-fitch-and-moodys-being-biased-against-the-indian-market-/articleshow/80579836.cms">India’s Chief Economic Advisor trains his guns on global rating agencies</a> <a href="https://www.businessinsider.in/india/news/mumbai-local-trains-will-be-open-to-public-from-february-1-divides-service-into-three-time-slots/articleshow/80573902.cms">Maharashtra opens up Mumbai local trains for public from February 1 — divides service into three time slots</a>

India needs a regulator for private hospitals and doctors, says Chief Economic Advisor

Amongst all sectors in India, healthcare is one sector that has managed to both attract and deter startups from foraying into this segment. Some realise the enormous opportunities that the sector presents for growth, while there are many who are discouraged by the abysmal condition of the industry. <a href="http://www.businessinsider.in/searchresult.cms?query=Healthcare+startup">Healthcare startup</a> <a href="http://www.businessinsider.in/searchresult.cms?query=Practo">Practo</a> belongs to the former category. And there is a reason to why, its founder <a href="http://www.businessinsider.in/searchresult.cms?query=Shashank+ND">Shashank ND</a>, founder and CEO decided to venture into this particular segment. 
 
“Healthcare offers enormous opportunities. Healthcare is one sector that consumers across age groups, cities identify with. In fact, healthcare sector is likely to touch nearly $300 billion by 2020. So this is a sector, which has many problems, offers everyone ample opportunities to innovate,” <a href="http://www.businessinsider.in/searchresult.cms?query=Shashank+ND">Shashank</a> tells BI India in an exclusive interview. 
 
In fact, he bets big on the <a href="http://www.businessinsider.in/searchresult.cms?query=Startup+India">Startup India</a>, Standup India campaign and expects it to put startups in the limelight. “In a few decades, startups can improve the life of the country but also boost the economy of the country. The government and the prime minister leading from the front just show how important startups are for the country,” he says excitedly. 
 
So what does he expect from the initative? Well, he says that the focus remains on the policies. “We talked about how the policy makers can facilitate the growth of the industry and how we can be more effective with their support. I expect that the attitude of this government will become more attentive towards startups. They will start prioritizing startups in their priorities.” 
 
He adds, “I also expect that there will be a lot more clarity in the regulations because startups always work with the cutting-edge technology, innovation. This will clear the roadway for startups to grow in the economy.” 
 
Regulatory hurdles? Explaining his point, he notes that India has a very good domestic market which will continue to propel the growth of startups. But there are a lot of hurdles that startups will come up with, which the government needs to do away with. “An exodus of companies is happening in India because of regulatory hurdles. I believe that the government should take steps to retain companies in the country so that they can contribute to the economy,” he states. 
 
So what are these? Well, to begin with, <a href="http://www.businessinsider.in/searchresult.cms?query=Shashank+ND">Shashank</a> says startups are digitalizing the healthcare economy. “We are taking the doctors, patients and other stakeholders online. For instance, there are a lot of regulations that are not clear for online pharmacies, which I think makes it difficult for these players to be around for long.” 
 
He quickly adds, “My biggest grievance is there is no clarity in regulations when it comes to digitalization about healthcare sector such as diagnostics, pharmacies, which if digitalized could be very helpful. 
 
He also talks about the acute shortage of professional doctors, a challenge that has marred the growth of healthcare sector in rural India. “We are connecting doctors through internet and mobile, we can connect them with the patient anywhere in the country. But where it isn’t possible, there comes a huge gap. If the person in a rural setup can be given basic training and need not have a medical license but can have the requisite facilities where they can take care of the basic needs of the patient, it will reduce the stress on the healthcare setup in rural India. I think, we need de-skilling in healthcare sector,” he clarifies. 
 
Besides, protection of Intellectual Property Right especially in the healthcare sector is also a burning issue for him. “If IP is protected in India, the Indian companies will be valued a lot more and more companies will be willing to innovate and bring their products to the market,” asserts Shashank. 
 
So what is his advise to the young startupreneurs? “Well, innovate. Don’t copy what is happening in other markets. Be original and also be patient. Results don’t come overnight!” 
 
Wise words Shashank!

Exclusive: Practo Founder
says Modi govt should do away with regulatory hurdles in the healthcare sector

<ul><li><keyword id="107950" type="TECHNOLOGY" weightage="20" keywordseo="artificial-intelligence">Artificial intelligence</keyword> (AI) in healthcare will change how the industry operates in India provided it can find the talent to support this shift.</li><li>According to a survey conducted by <keyword id="1953849" type="COMPANY" weightage="20" keywordseo="BML-Munjal-University">BML Munjal University</keyword>, deep learning experts and AI experts will be one of the most in-demand skills for the <keyword id="54598" type="PERSON" weightage="20" keywordseo="Healthcare-sector">healthcare sector</keyword> as it goes through a digital transformation.</li><li>Vishal Talwar, the Dean of BML Munjal University, tells Business Insider what’s needed to make the shift in the healthcare sector a potential game-changer in the Indian context.</li></ul>Artificial intelligence (AI) is bringing about a wave of change in nearly every sector of the economy, and healthcare is no exception to that rule. A new survey conducted by BML Munjal University shows that most executives across the country already have an AI strategy in place for their organisations. Execution of these strategies remains to be seen. “Public and private sector investments, government push, health startup boom etc. could provide the necessary fillip required to make this a potential gamechanger in the Indian context,” Vishal Talwar, the Dean of School of Management, — BML Munjal University, told Business Insider. <div type="image" title="top challenges of ai in healthacre" msid="80838159" hostid="261" caption="&amp;lt;p&amp;gt;Survey participant answers to, “Which of the following do you see as key challenges to the successful implementation of your AI?&amp;quot;&amp;lt;/p&amp;gt;"></div> High capital requirement is a key challenge in the implementation of AI. Cultural considerations, such as trust in AI technologies, is also a barrier that needs to be addressed. While consumers are open to use of AI, it cannot be considered a replacement for the soft skills that healthcare staff has to offer. However, before any of this can be addressed, the primary challenge for executives is finding the right talent. As the nature of work changes and the workforce needs to be reskilled, more executives are investing heavily in upgradation to keep up with their competition. <div type="image" title="Healthcare futuristic jobs" msid="80838190" hostid="261" caption="&amp;lt;p&amp;gt;Survey participants&amp;#39; answers to where they see the most demand of skills&amp;lt;/p&amp;gt;"></div> AI-related skills and knowledge is a priority for hiring talent Using AI is more efficient in diagnosing patients and reducing the rate of error. A <a href="https://physicsworld.com/a/ai-rivals-human-radiologists-at-breast-cancer-detection/">2020 study</a> found that AI algorithms and deeping learning were able to diagnose breast cancer at a higher rate than 11 pathologists. While the demand for AI-related skills is set to boom, a whopping 96% of executives say that current healthcare education needs significant upgradation in India to keep pace with the rapid change in technology. <div type="image" title="global ai healthcare market" msid="80835008" hostid="261" caption="&amp;lt;p&amp;gt;Expected growth of the global AI healthcare market&amp;lt;/p&amp;gt;"></div> “This gap will need to be addressed aggressively and the search will not be easy. Talent will need to be sought both within and outside the sector and thus approach to hiring as well as processes will be impacted,” said Talwar. Talwar proposes that, in the long run, the healthcare education sector will have to work on this along with the industry to expand the talent base and offer a more integrated approach to learning. “With higher infrastructure development costs, there may be a possibility of higher expenses in some quarters but organisations would be better off taking a long term view,” said Talwar. Job creation will trump job losses Executives also feel that the potential impact on jobs — reduction due to automation — is a big challenge given that low-skilled jobs will likely become redundant in the coming decade. But, it will also open up a whole new set of employment opportunities for the coming generation. “As AI continues to evolve in healthcare, there would be more jobs created for new skill sets, it is being integrated in healthcare organisations to assist with care provision, not replace it. Moreover, experts believe that such technologies will be an important contributor to better decision making and not necessarily replacement,” explained Talwar. Meanwhile, there will be a greater impetus on reskilling and upskilling of the current skill base across all ages. This is already a phenomenon across many sectors and is becoming imperative. “Continuing education will become rather relevant in all sectors including healthcare,” said Talwar. <div type="image" title="Copy of Adoption and impentation of AI is spread across various functional areas" msid="80836023" hostid="261" caption="&amp;lt;p&amp;gt;Answers to, &amp;quot;Which of the following do you see as the most important for professionals in healthcare to keep pace with AI?&amp;quot;&amp;lt;/p&amp;gt;"></div> Why does India need AI in Healthcare? India’s healthcare system is one of the biggest in the world given that it caters to a population of 1.4 billion. But, it has a long way to go in terms of improving the quality of healthcare and making sure that everyone has access. And, that’s where AI comes in. Using AI, people in the most remote locations of India will be able to access medical healthcare from top professionals. Mundane tasks like scheduling or tracking medical inventory can be left up to algorithms, reducing the costs of running day to day business. <div type="image" title="Copy of Adoption and impentation of AI is spread across various functional areas(1)" msid="80836627" hostid="261" caption="&amp;lt;p&amp;gt;Health executives are investing in AI hoping to reap the benefits in these key areas&amp;lt;/p&amp;gt;"></div> In addition to operational efficiency, the use of chatbots and personalised solutions that can provide better patient experience in the healthcare space, which is highly competitive. But, these chatbots cannot be considered a replacement for actual human interaction. Soft skills will always have a role to play in patient care. More than half of the executives surveyed say that they are already seeing significant benefits from AI adoption. The recent experience in vaccine distribution in the US has thrown up challenges on inequality. Black and brown Americans are <a href="https://www.businessinsider.in/science/health/news/white-americans-are-getting-more-than-their-fair-share-of-covid-19-shots-but-there-are-ways-to-fix-the-inequity/articleshow/80771969.cms">receiving fewer coronavirus shots</a>, despite dying at higher rates. The logistical challenge is something that AI can help solve. It can forecast demand, clear out bottlenecks and give quality assurance that the right dose is administered. AI can also help monitor for any unusual side effects, especially with the new strains of COVID-19 popping up globally. <div type="image" title="Copy of Copy of top challenges of ai in healthacre" msid="80836378" hostid="261" caption="&amp;lt;p&amp;gt;Answers to, &amp;quot;Which of the following technological advances has your organisation adopted?&amp;quot;&amp;lt;/p&amp;gt;"></div> This is also an opportunity in terms of jobs and long-lasting changes to the healthcare sector that can be applied to other challenges like the distribution of the polio vaccine and ensuring that children and pregnant mothers get the right level of nutrition. SEE ALSO: <a href="https://www.businessinsider.in/defense/news/india-and-china-begin-to-disengage-from-friction-areas-along-the-border/articleshow/80831679.cms">India and China begin to disengage from friction areas along the border — terms and conditions apply</a> <a href="https://www.businessinsider.in/international/news/twitter-faces-a-political-disaster-in-india-where-its-taking-heat-from-both-the-government-and-protesters-over-the-suspension-of-accounts/articleshow/80790166.cms">Twitter faces a political disaster in India, where it's taking heat from both the government and protesters over the suspension of accounts</a> <a href="https://www.businessinsider.in/tech/news/at-least-35000-gamers-were-complaining-when-ps4-and-ps5-network-went-down-for-an-hour-a-little-after-dawn/articleshow/80826872.cms">How big is Playstation in India⁠ — at least 35,000 gamers were complaining when PS4 and PS5 network went down for an hour a little after dawn</a>

AI in healthcare is set to open up a range of futuristic job profiles in healthcare

India’s spending on the public <keyword id="6354750" type="UNKNOWN" weightage="20" keywordseo="health">health</keyword> care is estimated only at about 1.3 of its GDP. This is a thoroughly discouraging figure when compared to what the other BRICS countries are spending. Notably, Brazil, Russia and South Africa spend about 8.3 percent, 7.1 percent and 8.8 percent towards their public healthcare sector respectively. Here are some strong reasons why India must considerably increase its spending on the public health. The government hospitals in India need to be equipped better The government hospitals in the state of Bihar were not fully equipped or prepared to combat the outbreak of chamki fever. The shortage of medicines led to the deaths of a large number of children raising panic among the crowds. Sometime back, a considerable number of children died in the hospitals of Gorakhpur in UP since oxygen cylinders went out of stock. Such instances reflect on the poor healthcare infrastructure in the country. Hence only a significant rise in the health care <keyword id="6358021" type="ORGANIZATION" weightage="20" keywordseo="budget">budget</keyword> will address the growing needs of the public health in India. Healthcare crisis in India Some highlights of the healthcare crisis in India are the inadequacy of the maternal and mortality indicators in the country, the rising burden of communicable as well as non-communicable diseases, high percentage of the out-of-pocket expenses during medical care, the highly commercialized private health sector and the poor status of the public health sector are the important concerns leading tot eh healthcare crisis in India. To address all of these issues adequately, the spending on the public health needs to be increased in the budget. Issues faced by the public health facilities The main issues that the public health facilities confront are poor infrastructure and lack or human resources. The statistics by the Rural Health says about 13% of the posts sanctioned for the female health workers and 37% of the posts sanctioned for the male health workers are not filled up. Only 11% of the sub-centers and 13% of the PHCs are meeting the standards of Indian Public Health Standards (IPHS). Hence allotment of more resources for the public health and measures to empower the delivery of health services are the need of the hour. Out-of-pocket expenses are more National Health Accounts has found out that the out of pocket expenses during health expenses in India amount to 63% of the total health spend. In the private sector, the Out of pocket spending is about 90%. Healthcare spending adds up around 7 percent to the poverty figures in the country. With the rising average costs of medical expenses, the burden of healthcare expenses on the people is fast rising. Some causes for the health problems Poor nutrition is one of the major causes for the rising health problems in India. Hence the government’s allotment for nutritional intervention must also needs to be enhanced. The new cost sharing norms between the central and state governments have brought down the spending on the schemes like ICDS and school meals. The budget must also show a substantial rise in the allocation towards ICDS.

Why India's health budget needs more infusion

New Delhi, Apr 16 () The private healthcare sector in the country is witnessing an unprecedented slowdown due to outbreak of Covid-19 in India and the resultant lockdown, according to a Ficci-EY study. "The pandemic has caused an adverse impact on the private healthcare sector resulting in 70-80 per cent drop in footfall, test volumes and 50-70 per cent drop in revenue in last ten days of March that is expected to sustain in month of April with continued lock down," the study said. Possible ramp up will be gradual thereafter, taking at least three quarters for return to normalcy, according to the study titled 'Covid-19 impact assessment for private healthcare sector and key financial measures recommendations for the sector'. "With an estimated impact of Rs 14,000-24,000 crore operating losses for the quarter, the sector would need liquidity infusion, indirect and direct tax benefits, and fixed cost subsidies from the government to address the disruption," the study said. According to Ficci Health Services Committee Chair Alok Roy, the financial distress accentuated by Covid-19 lockdown has forced several standalone and small nursing homes in tier II-III cities to pull down the shutters. Many others are at high risk of closing down soon since their cash flows have dried up, due to steep decline in patient footfalls, and they are facing liquidity crisis for even sustaining their staff salaries, he added. Ficci President Sangita Reddy said: "the private healthcare sector in India has stood beside the government firmly to contain the virus and is deeply committed to the war against Covid-19". However, there is an urgent need to consider the healthcare industry's triple burden - low financial performance in pre-Covid state; sharp drop in out-patient footfalls, diagnostic testing, elective surgeries and international patients across the sector is impacting cash flow; and the increased investments due to Covid-19 - which has impacted the hospitals and laboratories like never before, she added. In similar vein, EY India, Healthcare-Partner Kaivaan Movdawalla said: "While the private sector stands fully committed to partner with the government as a national duty, it truly finds itself in a compelling situation to beseech the government for "differential" financial forbearance measures and to be supported well, in order to best utilise its capabilities and capacity to serve the nation in this hour of crisis". AKT ANSANS

Covid-19 leaves pvt healthcare sector in financial distress, in need of stimulus: Ficci-EY study

New Delhi, May 30 () A safe Vaccine to prevent COVID-19 could take a very long time to be ready, so there is a need to deal with the pandemic for next few years and invest more in healthcare, Biocon Executive Chairperson Kiran Mazumdar-Shaw said on Saturday. She was speaking in a webinar on 'Pharma and Healthcare's New Normal: Engaging With Customers in Uncertain Times; Business Model Post-COVID-19', organised by CorpGini. "...We believe that it will take a very long time before you can actually have a safe vaccine that can be accessible to the entire country. We must understand that vaccine development is a very complex process. Shortest time taken for any vaccine is not less than 4 years," Mazumdar-Shaw said. Trying to develop vaccine in less than a year is a very daunting and almost impossible task. Vaccine development involves a large number of processes to establish the safety, efficacy and endurance of the vaccine, she added. "We need to deal with this pandemic for the next few years before we really get a reliable vaccine... We need to invest much more in healthcare. If this pandemic has exposed one ugly truth about every country, not just India, it is about the appalling state of public and primary healthcare, appalling state of under investing in healthcare," Mazumdar-Shaw said. Healthcare is a capital intensive sector, it is a skill intensive sector, it is a employment generation sector, she added. "There needs to be a very systematic data led approach to see how can we deal with the infection and keep people safe," Mazumdar-Shaw said. This is one opportunity for us to invest in healthcare infrastructure, because this what will save India and the world, she added. In similar vein, Apollo Hospitals MD Suneeta Reddy said: "This pandemic has clearly shown us the need for medical infrastructure. There needs to be an investment in healthcare, not only in infrastructure but also in skilling". Impetus given to the IT sector needs to be given to the healthcare sector to create additional infrastructure, she added. We hope the government considers healthcare as next IT sector, Reddy said. AKT BAL

Vaccine to prevent COVID-19 will take long time to be ready: Kiran Mazumdar-Shaw

New Delhi, Nov 28 () Healthcare industry body NATHEALTH on Thursday said it is working closely with the government to achieve the vision of providing universal health coverage in the country.
The body also suggested that corporate social responsibility (CSR) funds could be used to push the critical segments such as preventive health, skilling and digital technologies.
"We are working very closely with the government because unless we work together, universal health coverage to masses is just not going to happen," NATHEALTH President and Manipal Health Enterprises Chairman Sudarshan Ballal told reporters here.
He was speaking at the 6th Annual Summit of the NATHEALTH on the theme of 'Reimagining Collaboration to Strengthen India's Healthcare Growth Trajectory'.
The government and industry need to work together to realize the Prime Minister's vision of Health for All, he added.
Ballal also said that for transparency and ethical practices in the healthcare sector "we believe that we should have a code of ethics. Indian Medical Association (IMA), Ficci and many others have worked on this and we at NATHEALTH would like to facilitate so that the code of ethics is followed".
He also said that NATHEALTH would like to make India as a 'healthcare destination of the world'.
NATHEALTH Senior Vice President and Apollo Hospitals Group Vice Chairperson Preetha Reddy said: "Healthcare today is at an inflection point".
Both, the government and private sector have to work together to ensure that healthcare is accessible to the entire population of the country, she added.
More than anything else, "we need a world class brand for India and for that we have to give high quality good outcomes, so that the rest of world looks at India. There is a potential for people from other countries to come to India for healthcare, we just have to do more about it," Reddy said.
The importance for building trust between investors, policy makers and people seeking care - whether from India or from outside - cannot be undermined, she added.
The industry body also said it is willing to pool industry CSR and work with the government and development sector partners to test innovative delivery models and create replicable pathways for scale. AKT BAL

Working closely with govt to ensure universal health coverage: NATHEALTH

New Delhi, May 14 () Despite additional funding, the continued lack of medical investment and healthcare infrastructure will present challenges to mounting an effective response in India against COVID-19 pandemic, Fitch Solutions has said. "The continued lack of medical funding and healthcare infrastructure inform our view for the potential epidemic to be worse in India if it is not adequately contained," Fitch Solutions Country Risk and Industry Research (a unit of Fitch Group) said in its outlook for India's pharmaceutical market. With 8.5 hospital beds per 10,000 citizens and eight physicians per 10,000, the country's healthcare sector is not equipped for such a crisis. Moreover, the significant inefficiency, dysfunctioning and acute shortage of the healthcare delivery systems in the public sector do not match up with the growing needs of the population. In addition, more than 80 per cent of the population still does not have any significant health insurance coverage, and approximately 68 per cent of the Indians have limited or no access to essential medicines. Furthermore, over the last two decades, the availability of free medicines in public healthcare facilities has declined from 31.2 per cent to 8.9 per cent for inpatient care, and from 17.8 per cent to 5.9 per cent for outpatient care, the rating agency said citing a Public Health Foundation of India study. It also said that the growth within India's pharmaceuticals and healthcare market will be supported by the government's push towards achieving universal health coverage status. An improving business environment and planned healthcare reforms will be positive for innovative drugmakers and as such the market will continue to hold significant potential as the third-largest pharmaceutical market in the Asia-Pacific region, it said. SID SID ANSANS

Lack of medical investment, healthcare infra big challenges for India's COVID-19 fight: Fitch

<ul><li>Indians are hoping that the Narendra Modi-led government will take a step forward to advance the ‘promised’ healthcare facilities in India. </li><li>India’s spending on healthcare is below some of the low-income countries which spend 1.4% of their GDP on health. </li></ul>The government will unveil its annual budget for the 2019-20 fiscal year on July 5, 2019, and people are longing for improved healthcare. It is likely to allocate ₹59,039 crore in the financial year 2019-20, an increase of 11% from the current financial year, <a href="https://www.indiaspend.com/why-indias-public-health-facilities-may-suffer-despite-a-likely-rise-in-health-spending/">according</a> to India spend. The government has already allocated ₹52,800 crore (budget estimates) in the health sector of the country,<a href="https://dea.gov.in/sites/default/files/MTEF%20Statement%20%28english%29%202018.pdf"> according to the medium term expenditure projection statement</a> presented in the Parliament by the Ministry of Finance. Indians are hoping that the Narendra Modi-led government will take a step forward to advance the ‘promised’ healthcare facilities in India. The interim budget did not prominently focus on the government’s flagship scheme, National Health Mission as it received only a marginal increase of ₹1,600 crore against ₹1,400 crore in 2018-19. 
 
 
 
 
 
 












 Defense over health Over the years, the government has been spending five times more on defense than on healthcare in the country. India’s health allocation is ₹63,538 crore in 2019-20 against an investment of ₹282,733 crore in defense. The trend in budget allocation for both departments have been much similar in the budgets announced for the past two years, the wire <a href="https://thewire.in/health/indias-defence-budget-is-nearly-five-times-the-health-budget">reported. </a> Health emergency in India The current government promised to address roadblocks in the healthcare sector including a shortage in infrastructure, access to medical facilities and inexpensive treatments. However, the current status of healthcare in India portrays a completely different picture. Recently India’s poorest state, Bihar faced a medical crisis when <a href="https://www.bbc.com/news/world-asia-india-48741451">more than 150</a> children — mostly under the age of 10 and malnourished — died of an outbreak of Acute Encephalitis Syndrome (AES) in Muzaffarpur district. "Children are dying because of a lack of medicines and treatment,"Rabri Devi, Bihar’s opposition figure. According to Rural Health Statistics Bulletin 2017-18, the country is short of 32,900 sub-centres (catering to a population of 5,000), 6,430 primary health centres (PHCs, catering to 30,000 people) and 2,188 community health centres that are supposed to address the health needs of 80,000-120,000 people in rural areas, as on March 31, 2018. Infact, only 7% of the sub-centres, 12% of primary health centres and 13% of the CHCs are functioning, <a href="http://nhm.gov.in/nhm/nrhm/guidelines/indian-public-health-standards.html">Indian Public Health Standards</a> (IPHS). The situation is much worse in tribal areas as it is short of 5,935 sub-centres, 1,187 PHCs and 275 CHCs, said the RHS 2017-18. The population-doctor ratio in government hospitals is 25 times lower in India than the ratio recommended by the World Health Organisation. ₹3 : Daily expenses on healthcare India spends less than two per cent of its GDP on healthcare, making it one of the lowest investors in the sector globally. The World Health Organisation places India’s healthcare spends behind Iraq and Venezuela. The country suffers from a lack of infrastructure and is short of doctors, particularly in rural areas. India spent 1.02% of its gross domestic product (GDP) in 2015. This spending has remained the same for almost six years. India’s spending on healthcare is even below some of the low-income countries which spend 1.4% of their GDP on health,<a href="http://pib.nic.in/newsite/PrintRelease.aspx?relid=180053"> pointed out </a>National Health Profile. The negligence in public health spending forces even poorer patients to seek private healthcare. The country is the sixth biggest out-of-pocket (OOP) health spenders in 2014 amongst low middle-income group, <a href="https://archive.indiaspend.com/cover-story/indians-sixth-biggest-private-spenders-on-health-among-low-middle-income-nations-78476">reported </a>India Spend. The current pace of slow increase in the healthcare budget will make it difficult for India to achieve targets like reducing the maternal mortality rate to 100 in 2018-20 and infant mortality to 28 deaths per 1000 live births by 2019.

Health Budget 2019: India might increase spending on healthcare but that may not be enough

<ul><li>Indian pharmaceutical company <keyword id="46698" type="CITY" weightage="20" keywordseo="Lupin">Lupin</keyword> has confirmed an ‘information security incident’ that has affected multiple internal systems.</li><li>The incident comes within weeks of a ransomware attack on Dr Reddy’s Laboratories. </li><li>The average cost of a data breach in the healthcare industry is $7.3 million — 84% higher than the global average across all sectors.</li></ul>Another leading Indian pharmaceutical, Lupin, has reported a cybersecurity attack on its IT systems within two weeks of a ransomware attack on Dr Reddy’s Laboratories. “We have recently experienced an information security incident that has affected several of our internal IT systems. This has not impacted our core systems and operations,” Lupin told <a href="https://www.thehindubusinessline.com/companies/lupin-confirms-security-incident-days-after-dr-reddys-cyber-attack/article33029527.ece">Hindu Business Line</a> in a statement. In October, Dr Reddy’s Laboratories had to ‘isolate’ its servers and took ‘preventive actions’ in the wake of a ransomware attack. The attack also <a href="https://www.businessinsider.in/india/news/dr-reddys-shares-fell-over-3-the-drug-maker-isolated-all-data-service-centers-after-a-cyber-attack/articleshow/78806238.cms">reportedly</a> forced the company to shut down its manufacturing facilities across the world to minimise the attack’s impact. The incidence of hackers trying to breach the firewalls of the healthcare industry have only increased during the coronavirus pandemic.To be fair, the Indian healthcare industry isn’t particularly careful about connecting to the internet. For instance, in June, the CEO of Hackrew and IIT Guwahati graduate <a href="https://medium.com/bugbountywriteup/how-screwed-is-indian-healthcare-data-fa4584be8a04">Sai Krishna Kothapalli</a> was able to view, edit and delete classified personal information of lakhs of patients all over India. Healthcare industry faces the most expensive data breaches “Financially motivated criminal groups continue to target this industry via ransomware attacks,” said Verizon’s annual Data Breach Investigations Report 2020. To make matters worse, the average cost of a <keyword id="10183471" type="UNKNOWN" weightage="20" keywordseo="cybersecurity-breach">cybersecurity breach</keyword> in the healthcare industry is higher than any other sector at a whopping $7.3 million. <div type="image" title="Average total cost of a data breach by industry (1)" msid="79061658" hostid="261" caption="&amp;lt;p&amp;gt;Average total cost of a data breach by industry&amp;lt;/p&amp;gt;"></div> Even though this figure varies across geographies, the average cost of a <keyword id="10226939" type="UNKNOWN" weightage="20" keywordseo="data-breach-in-healthcare">data breach in healthcare</keyword> has been the most expensive for over a decade, according to <a href="https://www.ibm.com/in-en/security/data-breach">IBM’s Cost of a Data Breach 2020</a> report. This year was a 10% increase over 2019 and 84% higher than the global average. Healthcare industry takes nearly a year to track down cybersecurity issues While some data breaches can be attributed to human error or a system glitch, already 50% of them in the healthcare sector are due to malicious attacks. The healthcare industry also takes the longest amount of time to detect a breach and then contain the attack. IBM pegs the average time to around 329 days — that’s nearly a full year of data being exposed. <div type="image" title="Average time to identify and contain a data breach by industry" msid="79061682" hostid="261" caption="&amp;lt;p&amp;gt;Average time to identify and contain a data breach by industry&amp;lt;/p&amp;gt;"></div> However, India is not alone in its struggle. Other countries around the world are also grappling with the new onslaught of cyberattacks in the healthcare sector. Germany, for example, is trying to get ahead of the curve by enacting a new law for patient data protection and increased digitisation in health. In July, it already <a href="https://www.insideprivacy.com/health-privacy/germany-prepares-new-law-for-patient-data-protection-and-increased-digitalisation-in-healthcare-and-for-data-donations-for-research-purposes/">passed the draft bill</a> and is expected to come into force before the end of the year. SEE ALSO: <a href="https://www.businessinsider.in/defense/news/india-is-willing-to-challenge-the-status-quo-says-defence-minister-while-outlining-the-four-core-principles-behind-the-countrys-security-policy/articleshow/79059040.cms">India is willing to challenge the status quo and protect against ‘unilateralism and aggression,’ says Defence Minister Rajnath Singh</a> <a href="https://www.businessinsider.in/science/environment/news/india-demands-environment-friendly-technology-to-be-made-available-at-affordable-prices-to-battle-climate-change/articleshow/79056886.cms">India demands environment-friendly technology to be made available at affordable prices to battle climate change</a> <a href="https://www.businessinsider.in/finance/banks/news/rbi-and-indian-banks-wait-as-supreme-court-adjourns-loan-moratorium-hearing-to-november-18/articleshow/79057919.cms">RBI and banks caught in the crosshairs as the Supreme Court adjourns loan moratorium hearing for a second time to November 18</a>

You Searched For "india healthcare sector" and got 12 results

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Why India's health budget needs more infusion

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Covid-19 leaves pvt healthcare sector in financial distress, in need of stimulus: Ficci-EY study

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Vaccine to prevent COVID-19 will take long time to be ready: Kiran Mazumdar-Shaw

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Working closely with govt to ensure universal health coverage: NATHEALTH

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Lack of medical investment, healthcare infra big challenges for India's COVID-19 fight: Fitch

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Health Budget 2019: India might increase spending on healthcare but that may not be enough

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