With the Indian urban citizen becoming increasingly health conscious, the healthcare industry in India will continue its growth path of about 18% CAGR. This is also being driven by lifestyle-related diseases and disorders becoming more common than before- Diabetes, hypertension, Dementia, Mental health management.
Another trend is a clear shift from multi-specialty to single specialty clinics, and here technology plays a decisive role. The government can play a very strong catalyst to the twin objectives of shorter stay and also improve business margins for the hospitals. The future will hence be about innovations in home care, step-down care and distance healthcare like mHealth or eHealth- where hospital stay is reduced but care isn’t compromised. However, rural healthcare will need very strong focus, and with innovations in technology, the industry can maybe even create new healthcare business models. One of the standard challenges of medically qualified manpower can also be met with technology and its smart leverage. Today, the availability of specialty doctors all the way to paramedical staff remains a concern – the ratio of the population being 1700:1, remains a challenge and needs smarter solutions. With a shortage of over a 1.5 million and the added issue of severe attrition to the Middle East, Southeast, Europe and other parts of the world, the government needs to take some stringent steps to up the ante of healthcare in India. Technology would be a big enabler in this development.