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HEALTHCARE INDUSTRY
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HEALTHCARE INDUSTRY
Largest in the world with revenues over $3 trillion
Indian healthcare industry is worth about
Rs.100,000 crores, accounting 5% of GDP
Fastest growing industry in India with CAGR ofabout 30%
Employs about 80 lakh people directly andindirectly (IT industry employs only about 5 lakh)
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TOTAL TURNOVER RS. 100,000 CR. P.A.
Hospitals & NH
40%
Others7%
Labs &Diagnostics12%
Pharma & Supplies20%
Allopathic Doctors22%
Two thirds of beds in Govt. & local authorities(Total 630,000 beds)
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HEALTHCARE VARIOUS SEGMENTS
HOSPITALS,
NURSING
HOMES,
CLINICS, LABS
PHARMA
STATE/ GOI
MEDICAL
SOFTWARE
INDUSTRY
MEDICAL
TOURISM MEDICAL/
HEALTHINSURANCE
NUTRITION
INDUSTRY
TRANSPORT
POPULATION
GERAITRIC ,
PAEDIATRIC
MEDICAL,
NURSING,
DENTAL, PHARMA
COLLEGES
TPAMEDICAL
EQUIPMENT
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EMERGING TRENDS IN HEALTHCARE
Secondary & Tertiary Care requires large investment,viable bed size, technological obsolescence
Increasing corporatization
Venture capital funding
Slow, but emerging private health insurance/TPA Global alliances
Listing of companies
Felt need for professional management
Sick hospitals
Marketing of services
M&A, Brand buying, Brand extension, franchising
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EMERGING TRENDS (CONTD.)
Rating of hospitals (CRISIL, ICRA)
Accreditation by TPAs
Recertification of Doctors (in future)
Spiraling hospitalization costs Epidemiology:
y 500,000 cancer patients added p.a.
y 40 million diabetics
y 60 million patients
y
70-80 million senior citizensy Obesity, psychiatric patients.
IRDA, Private Insurance
Tele-medicine
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IT IN HEALTHCARE
Medicaly Picture Archival & Communication System (PACS)y DICOM (Digital Imaging & Communications in Medicine)y Telemediciney Electronic Medical Recordsy Clinical Decision Support Systemsy HL7 protocoly Epidemic prevention software
Non-medicaly Integrated hospital information systemy Web-enabled Appointment Schedulingy Web-enabled applications for relatives to obtain conditions of the
critical patientsy Multi-media applications for patient educationy Medical equipment management softwarey Web-enabled CRM applications
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CHALLENGESAHEAD
Structure and financing of healthcare is changing rapidly
Future managers in healthcare sector to be prepared to deal withy evolving integrated healthcare delivery systemsy technological innovationsy an increasingly complex regulatory environmenty restructuring of worky increased focus on preventive carey improving efficiency in healthcare facilities and the quality of the
healthcare providedy managing finances including modernization, expansion plans and brand
extensionsy optimizing efficiency of a variety of interrelated services (e.g. those ranging
from inpatient care to outpatient follow-up care)y managing the growing aspirations of doctors (compensation, revenue
sharing, high-end equipment, specialized courses etc.)y High turnover of para medical staff including nursesy Social Marketing
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TO SUM UP
Wide ranging career opportunities in India
and elsewhere
Domain expertise healthcare management
essentialGrowing sector
Job satisfaction
Socially relevant jobs
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MEDICAL TOURISM INDIA, THE NEW HEAVEN
FOR HEALTH & HOLIDAY
About 1,80,000 patients arrived in 2004 from across theglobe for medical treatment
Medical tourism market in India estimatedat US$ 333 million in 2004, grew by about 25 %
Predicted to become a US$ 2 billion-a-year businessopportunity by 2012
India seeing a surge of patients from developed countriesas well as from Africa , South and
West Asia
Cost of comparable treatment in India is on average 1/8th
to 1/5th of those in the West
Quality of Indian healthcare delivery second to none
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CURRENT SCENARIO
The healthcare industry is estimated
at USD
22 billion
Estimated growth at 13 per centannually
assures a return of 15-20 per cent for the
healthcare providers
Healthcare sector at present employs
4 million
people directly and indirectly
Private healthcare market currently
estimated
at Rs 690 billion (USD 14.8 billion)
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85 per cent private sector establishments
have less than 25 beds
Speciality and super speciality
hospitals
account for 2 per cent of total institutes Corporate hospitals constitute less
than 1 per
cent of all institutes
Private sector accounts for 82 per
cent of all
out-patient visits Private sector accounts for 52 per
cent of all
hospitalization
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HEALTHCARE: MARKET SIZE & GROWTH
Healthcare emerged as one of the largest service sectorsin India
In 2004, national healthcare spending equaled 5.2% of
GDP, or about US$ 34.9 bnHealthcare spending in India is expected to rise by 12%
per annum through 2005-09 (in value terms)
Expected to scale up to about 5.5% of GDP, or US$ 60.9
billion, by 2009
Other estimates suggest that by 2012, healthcarespending could contribute 8% of GDP and employ around 9 million people
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HEALTHCARE ISSUES & CONCERNS
Small hospitals 80 per cent < 25
beds
Specialised services available in only 2
per cent hospitals
Good healthcare available only in metros
Lack of infrastructure
Mismanaged Public hospitals
Inadequate remuneration for public
hospital staff
Lack of commitment
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PRODUCT
Emergency services
Diagnostic services
Pharmacy services
Causality services
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PRICE
Price usually depends on treatment prescribed by therespective consultants and the facilities offered to thepatient.
As a service is intangible, it is very hard for deciding
the price of the particular service offered. Prices of various facilities revised every year
depending on the change in technology.
Before fixing prices, government controls are alsotaken into consideration.
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PROMOTION
Health care do not normally undertake aggressivepromotion, they rely a lot on a favorable word ofmouth.
Hospitals conduct camps in rural areas to give
medical check ups at a reasonable price so that therural people approach the hospital again in thefuture.
They also sponsor frequent visits to the spasticsociety, old age homes, etc. Hospitals generally
advertise in health and fitness magazines.
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PLACE
The two major issues considered regarding the
decision of a place are accessibility and
availability of the service to customers.
A hospital must be ideally located and must beeasily accessible to all.
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PEOPLE
It is necessary that the staff in hospital are trained tooffer quality patient care with human touch usingstate of the art technology.
The objective of offering quality service to the
patients can be attained by:y Motivating employees to be efficient, dedicated and loyal to
the organization.
y Offering regular on-job training of employees to ensurecontinuous improvement in health care.
y Utilizing services of professional competent medical
consultants.
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CONTD
Use of latest technology- In a hospital, the staffhas to cater to the needs of sick, depressed andan agitated lot.
Warm ambiences with efficient and cheerful staff
help make the experience of the public amemorable one.
Therefore, it is very important that the staff ofthe hospital is friendly and comforting, alwayswearing a smile.
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PROCESS
In a hospital, the process is divided into three
phases.
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PHYSICAL EVIDENCE
One must find the reception very cordial andcomforting staff.
The staff follow a dress code to showprofessionalism and to maintain discipline.
It is necessary for a hospital to be well organizedand segregated into different departments.
Maintain hygienic, cleanliness and wholehospital must be well lit.
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HEALTH CARE PROVIDERS EMBRACING
SOCIAL MEDIATOATTRACT CUSTOMERS
Health care providers are using social media to:
Attract new patients;
Communicate information;
Increase awareness about specialty services; and
Raise money.To spread information, physicians and health care
companies are using:
Facebook pages;
Twitter accounts; and
Online discount coupon sites.
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CONCERNS
Some members of the health care industry have foundsuccess in promoting their services through socialmedia.
Other groups have faced difficulties controlling theirmessage because customers and patients can post to
sites like Twitter and Facebook about having anegative experience.
Groups that promote services online also are trying tonavigate potential drawbacks to offering discounts ona product or service, such as losing money if an offerbecomes popular.
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