Scope of Healthcare Management in India |This will include what is the job descriptions generally like with possible upward movements in designations and teams, in addition to the longevity of the program
a. Healthcare has become one of India’s largest sectors – both in terms of revenue and employment. The Indian healthcare sector is growing at a brisk pace due to its strengthening coverage, services and increasing expenditure by public as well private players.
b. The overall Indian healthcare market is worth around US$ 100 billion and is expected to grow to US$ 280 billion by 2020 @ Compound Annual Growth Rate (CAGR) of 22.9 per cent. Healthcare delivery includes hospitals, diagnostics centers, pharmaceuticals, medical devices, clinical research, medical transcriptions, telemedicine, medical tourism, health insurance etc and many more that widens the scope
c. A recent study conducted by Ernst & Young along with KPMGrevealed that India will need to add 1 lakh medical beds, in next 25 years, to match the overwhelming needs of the healthcare industry. This will not only account for a rise in the demand for medical staff but also create tremendous scope for the healthcare management professionals
d. With the unprecedented growth of the healthcare industry, there has been an incredible change in the requirements of medical institutions. Now, a medical institution has to take care of several departments like marketing, human resources, customer satisfaction, housekeeping, etc.Due to this change, there has been a stratification of roles in this industry, with a marked distinction in medical staffing and administration
e.According to 2015 KPMG Report on Indian healthcare, India needs 1.76 management and administrative Full Time Equivalents (FTEs) per physician to deliver quality healthcare services. This would translate to a total of ~11 lakh management and administrative professionals by 2022. This would mean an incremental ~3.3 lakh management and administrative professionals by 2022. Hence, there will be significant demand for management professionals in healthcare industry
f. The roles vary from Healthcare Consultants at Big 4 consulting firms, Healthcare strategy managers at startups, Analytics managers, Programs Managers in Healthcare Social enterprises, Section managers at nonmedical departments, Project managers at healthcare delivery firms to name a few. High performance employees reach the leadership positions in a very short span of time since the absolute limited supply of qualified and trained healthcare management professionals.
Dr Preeti Adhav, BDS, MBA Healthcare Management, MAHA, ACHE, FACHE(pursuing)