Private health care industry in Karnataka to grow to $ 30 billion by 2020
The epidemiological transition coupled with IT supported health care practices is attracting Indian and foreign patients to Bangalore due to its effectiveness in treating chronic and lifestyle diseases. The health care sector’s revenues in Karnataka are projected to shoot up to US$ 30 billion by 2020 from the current US$5 billion odd – the biggest contributor to this growth will be Bangalore. For better and effective management of global standard hospitals and health care facilities, Karnataka will witness a spurt in the demand for hospital management professionals according to India’s leading healthcare management & research institute, IIHMR Bangalore.
Health care is one the major sector of spending in the Indian economy and is also the country’s principal contributor for employment generation. Nearly half of India’s population does not have access to primary health care. In the field of specialty health care, Karnataka’s private sector competes with the best in the world.
Dr. Biranchi N. Jena, Director of IIHMR Bangalore, said, “The Indian private health care industry is expected to grow from around US$ 40 billion currently to $ 280 billion by 2020. Overall, there is a huge shortage, running into a few lakhs, of health care staff across all levels in all states of India in the public and private space. There are an estimated 600 private hospitals in Karnataka, barring small and medium clinics. There is a current requirement of around 1500 hospital management professionals in the state, but due to non-availability of qualified professionals, they find it difficult to manage. This scarcity of quality health care professionals will increase further in a big way in coming years as existing hospitals modernise and expand and many more new ones of global standards are set up. We at IIHMR foresee that over 10,000 hospital management professionals will be needed by 2020 to meet this growing gap.”
Dr. Jena further added, “However, in spite of being India’s Silicon Valley, hospitals in Bangalore are not using technology optimally to facilitate much better patients care. We haven’t invested much in soft skills. There has been a haphazard growth of medical institutions in the city but enlarging health connectivity is the need of the hour. There is also a need to package the health services and market it globally in the right way. Thus, a lot more is needed to improve hospital services through effective management of health care services.”
(Source: Press release)