Market Size
The Indian health care market has a current size of US$ 65 billion. Hospital supplies and health care
equipment segment ranges between US$ 4.5-5 million. Hospitals, pharmaceuticals, nursing homes
and diagnostics centres, that form a part of healthcare delivery, constitute 65 per cent of the total
market.
Of total healthcare revenues in the country, hospitals account for 71 per cent, pharmaceuticals for 13
per cent and medical equipment and supplies for 9 per cent.
As per PWC, The size of average investment by private equity funds has increased from US$ 5-15
million to US$ 20-30 million in healthcare chains.
The Indian medical tourism industry is pegged at US$ 1 billion per annum, growing at around 18 per
cent and
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Only three per cent of specialist physicians cater to rural
demand.
Top players in Healthcare Industry
1. Apollo Healthcare
Apollo Hospitals is an Indian hospital chain based in Chennai, India. It was founded by Dr Prathap C.
Reddy in 1983 and has hospitals in India, Sri
Lanka, Bangladesh, Ghana, Nigeria, Mauritius, Qatar, Oman and Kuwait. Several of the group's
hospitals have been among the first in India to receive international healthcare accreditation by
America-based Joint Commission International (JCI).
The group has developed services in telemedicine, after starting a pilot project in 2000 in Pratap
Reddy's home village. It is now the largest telemedicine provider in India with 71 centers. The success
of Apollo Hospitals has made it a topic for Harvard Business School case study. Apollo Hospitals
generated a revenue of ₹31.73 billion (US$490 million) in 2012.
Suneeta Reddy is the Managing Director at Apollo Hospitals.
2. Fortris Hospitals
Founded in 2001 by Malvinder Mohan Singh and Shivinder Mohan Singh, Fortris Horpitals are
headquartered in Delhi and cater to populations in India and Singapore. Fortris hospitals generate a
revenue of ₹47593.4 million(US$730
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Mr Shivinder Mohan Singh is the managing director at Fortis
3. Max Hospitals
Max Healthcare Institute (BSE: 500271, NSE: Max) is a healthcare institute based in New Delhi, India.
The Institute is a wholly owned subsidiary company of Max India Limited. Established in 1985, Max
India Limited is a Public Limited company listed in the Bombay Stock Exchange and National Stock
Exchange of India with more than 37,000 shareholders.
The institute operates eleven centers in Delhi, NCR and neighbouring Punjab region, providing health
care services in more than 30 disciplines. The company provides patient services including nuclear
medicine and cardiac imaging, labs, scans, interventional cardiology, cardiac
pacing and electrophysiology, neurosciences, orthopedics, gynecology andobstetrics, pediatrics,
maternity services, diagnostic services, pediatric ophthalmology, neurophthalmology, internal
medicine, general surgery, urology, nephrology, gastroenterology, mental health and behavioral
sciences, rehabilitative services, and pulmonology.
Rajit Mehta is the Managing Director and CEO at Max Hospitals. Analjit Singh is the chairman.
4. Medanta
Medanta (The Medicity) is a privately-owned multi-specialty medical institute
The limitations are to be addressed such as lack of infrastructure, high start-up cost and optimal funding need to be allocated. At this point of time it is apposite to to plan for the future through this recommendations using the telehelath, good governance, maintain good infrastructure, patient awareness and implementing the laws. Implementations of all this will transform the current health care into technological advanced health care. There by reaching being more feasible to clinicians and patients.
The most commonly reported telemedicine services were tele-psychiatry and tele-cardiology, followed by telestroke and teledermatology. Exhibit 2 provides an overview of respondents’ affiliations and respective
Some of the main issues that are important for the organization of telemedicine in regards to time and scope are the problems associated with coverage and reimbursement. With so many options for payment and coverage for telehealth services in both private and public sectors and their policies have still remained barriers for telemedicine. Even with more substantial changes in Medicare coverage, the state remains the final word on policy and determines what they think is telemedicine, what technologies can be used, where and how telehealth can be performed and what services and providers are eligible by the government for reimbursement. Any person or organization involved in executing a project and, whose interests can be affected
Also, that measuring the quality of health care for is challenging due to the diversity of the population and its potential sources of health care. In studying these factors, it is also important to note the present conditions of health care currently for American Indians/ Alaska Natives. Presently, the Indian Health Services provide health care and disease prevention to approximately 2.2 million AI/ AN with a total of $US 4.3 billion appropriated for IHS in 2013 (Artiga). These numbers have expanded exponentially since then with a projected 6 billion dollars to be spent on HIS over the next 4 years ("FY2015 Budget in Brief - IHS"). The Indian Heath Services also rely on revenue from third party payers including Medicare, Medicaid and other private insurances (Artgiga).
Managed Care Organization (MCO) is healthcare delivery system that attempts to keep cost down by managing the care to eliminate unnecessary treatment and reduce expensive hospital care. The most familiar models are HMOs and PPOs. Indemnity Plan also called (fee-for-service) is the type of plan most Americans were covered under until tha past two decades. Under this plan patients can go to any healthcare provider or hospital they choose, medical bills are sent to the insurance carrier, and the patient or (healthcare provider) is reimbursed according to rules of the
According to their lastest published financial statement , in 2013 they had $909,797,201 in assets, $592,740,013 in liabilities, and expended $4,199,618 for salary and benifits, $824,634 for administration, $726,920 for Professional Servcies, $20,149,055 for Projects Costs, and $226,818
Abstract The paper reviews the organizational chart and stakeholders relationships for Sheppard Pratt Health Systems. The organizational chart for each health care organization is different depending on the size and services offer by that organization. Most organizational charts begin with either a board of trustees or the CEO. Stakeholders are anyone who has vested interest in an organization.
An entry level positon for an associate communications specialist in Costa Mesa, Ca is being offered by United Health group for their family companies called Optum. United Health group is a diversified managed health care company with its head quarter located in Hopkins, MN. Founded in 1977, United Health group is a global expansion with its various locations in all 50 states and in 33 countries. As of December 31st, 2014 the company employed approximately 170,000 employees. The company offers a spectrum of products and services which they operate in two different businesses: United Health care and Optum.
Chicago, Illinois: American Health Information Management Association. Retrieved from http://www.amcp.org/WorkArea/DownloadAsset.aspx?id=12724 Health Care Reform. (2014, January 1). Retrieved October 18, 2014. http://www.hca.wa.gov/hcr/Pages/default.aspx Indian Health Service
Medicare was initially formed as a health insurance program to provide aid in medical expenses for the elderly. President Lyndon B. Johnson influenced the path of these Medicare and Medicaid programs during his term as president in 1965. During the time that Ronald Reagan was president, new Medicare cost control approaches for health care providers emerged, which aided determining reasonable charges for the services provided and payment options. Medicare and Medicaid were the establishment of a mainstream model of federal medical assistance to people who are unable to secure it for themselves. Over time, many different policies have been endorsed to provide access to health care for specific groups who may be unable to pay for their own medical
A new medical arms race will result into an intensification of clinic costs and aggregate healthcare expenditures. The reason behind an increase in the cost is the inpatient service duplication and the supply prompted demand. It may generate monetary and service inequalities amid the community hospitals, outpatient clinics, and specialized care hospitals. For example, a specialty hospital that focuses on cardiology would provide excellent service and yield a higher market share in comparison to a local community hospital that provides a broad-spectrum of healthcare services. Furthermore, the amplified rivalry for the acquisition of general practitioners and patients will result into enhanced volume of patients which may affect the quality of the care.
Exhibit 1 is a 5 force analysis of the industry. Cancer care is a high barrier, high bargaining power, no substitute and medium competition industry. The business models of some international cancer care establishments are summarised as below: 1. Cancer Treatment Centre of America (CTCA): Operates standalone for profit units. This increases the cost of treatment and limits expansion.
India has multiple players in the healthcare segment but there is a huge gap in the demand and number players in the market. Also, considering the growth potential projected in the next few years, it is a highly attractive industry for the existing players. Considering government hospitals as incumbents: This does not impact the industry attractiveness for private players by much because of following reasons in urban areas. Accessibility in terms of commuting and waiting time is much more in govt.
Health care cost has seen to increase gradually as years go by. This has been influenced by major factors such as political influence, emerging chronic diseases, new procedures that are coming up including the technologies being invented for treating illnesses, pricing of medicines and treatment is not regulated and when treating ailment their may arise repetition of tests or a patient gets over treated for a particular ailment. The cost of healthcare has increased due to chronic diseases such as cancer and diabetes etc. The lifestyle people are living in this generation has led to the development of diseases that are expensive to treat or has led to there being over treatment in such for a cure of a particular ailment.
India is able to obtain the competitive advantage over other countries because of the well-trained medical professionals and their dedicated services. The cost of offering health care services is very less when compared to the other Asian countries. The cost incurred for surgery in India is one-tenth when compared to United States or other Western