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Technology the Next Big Move in Indian Healthcare

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Technology progression in the field of healthcare would be the next big move in India. Country like India which has a huge population needs low cost medical services, thus required cost-cutting through technology induction in healthcare. Hospital services market in India likely to reach USD 18 billion by 2020 and thus technology segment can play a pivotal role in the healthcare industry.

Healthcare sector is one of the largest employment generating segments in India and the growth potential for the segment is also high, since India need to increase its existing capacity for healthcare by about 200%, according to Confederation of Indian Industry (CII).

Expressing similar views, at the Health & Hospital Conclave 2012 , organised by CII at Ahmedabad on Saturday, all the experts were of opinion that for capacity building in line with the demand, requirement of investment is high. Participating in the panel discussion on Changing Face of Technology in Healthcare , held as a part of the conclave, leading doctors, professor and corporate representatives were of the opinion that apart from bring better healthcare services, the technology evolution can play a major role to reduce cost, give right understanding of pricing its services and help bring in better billing transparency.

Costing is the key to the success for hospitals and that can be done through technology induction in the sector as it would play a major role either brings down the healthcare cost or at least tame the spiraling healthcare cost said K V Ramani, professor, Public System Group, Indian Institute of Management, Ahmedabad (IIMA).

Public sector hospitals in India lack advanced infrastructure and facilities, while the hospitals run by the charitable trust are not able to cope up with the cost when it comes to use of latest equipments and infrastructure. In such a scenario, there is an enormous growth potential for private sector hospitals provided they run their business very efficiently. These hospitals should have core focus on energy technology efficient enough to reduce the energy consumption cost from 5% of the business to 2.5%. said Dr, Vikram Shah, CII Event Chairman & CMD, Shallby Hospitals, Ahmedabad.

Dr. Rajiv Modi, Vice Chairman, CII Gujarat State Council and Managing Director, Cadila Pharmaceuticals Ltd, said, Healthcare sector in India is poised to acquire the status similar to country s pharmaceutical industry, which meets 20% of the world s total demand for medicine. The size of market for hospital services in India is expected to reach $18 billion by 2020 and medical tourism will play an important role in growth of the sector in days to come.

The two day exhibition on medical equipments and hospital infrastructure Hospital Tech 2012 has also been organised along with the conclave. Nearly, 70 companies are participating in the second edition of the exhibition. Some of the leading companies participating in the exhibition include DePuy Medical, Force Motors, Draeger, Zimmer, Attune, Mahindra & Mahindra, Hosmac, Easy Care, Janak Healthcare, Kopran Laboratories, Kimberly Clarke, Meditek Engineers, United Surgicals and ISS Integrated Facility Services. The exhibition would conclude on Sunday.

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