India’s healthcare market is most likely to witness a boom. Indias healthcare sector is worth more than 50,000-crore rupees.and is expected to register an annual growth of 22 per cent between by 2020. The key contributors to the Healthcare sectors growth are, rising income level, a greater health awareness, an increase in lifestyle diseases and improved access to insurance. The private sector, accounts for almost 74 per cent of the country’s total healthcare expenditure and has emerged as an effective force in India’s healthcare industry lending it both national and international repute.
In our country we have seen a sudden surge in private sector investments in healthcare services and solutions by homegrown as well as investors from abroad. Though there are corporate hospital groups like Apollo Hospitals, Fortis Healthcare and Wockhardt in India, many large and medium hospital chains for multiple and single specialities have been entering the market in the last few years.
We are witnessing a similar surge in investments in the diagnostics and other technology-led healthcare services as well. For instance, a fast-emerging trend in India now is telemedicine. Major hospital groups including Apollo, AIIMS, Narayana Hrudayalaya, have adopted telemedicine services and have expanded their business.
It is also observed that besides investments, many people from all across the world are coming into the country in search of better diagnosis and treatment. We can confidently say that the presence of world-class hospitals and skilled medical professionals has improved our countrys position and it has become a preferred destination for medical tourism. This has resulted in higher investments in more hospitals, better research and development and quality education.
Till now doctors had to also work as administrators at hospitals. But nowdays,some colleges train managers specifically for the healthcare industry. Healthcare is the new buzzword in India’s management education. Today a changing market scenario in Healthcare has led to an increase in the demand for heaithcare management professionals.
It is clearly seen that the corporate and professional structure of India’s healthcare services industry, is growing at an annual rate of at least 20 per cent. This development has turned the focus of many Management Schools on healthcare management education and training in the last few years.
In order to provide an outstanding management programme for the healthcare sector , B-Schools are increasingly going for collaborations with top healthcare institutions. for practical classes. This trend of corporatisation has brought about a new management culture in the industry, which was till now predominantly a domain of government or family promoters.
The course curriculum in these institutes mainly comprises training on how to solve hospital-specific issues. Every student goes through real-life situations and difficulties that arise in hospitals.These programmes usually include training on management of large hospitals and clinics. Lectures on important issues relating to people management, quality management, finance and costing, and information system are also part of the curriculum.
Today the term ‘Healthcare Administration’ has been nearly replaced by the term ‘healthcare management’.
The reason behind imparting healthcare management education is to be able to develop a larger pool of highly skilled professional managers in this complex sector. In hospitals, so far, senior doctors and nurses were charged with responsibilities of administration, something they had never been trained for. Today since the industry is becoming more competitive and challenging, the need for professional managers is strongly felt.
Dr. Bedi
(Associate Professor)
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