The following article is based on my own interpretation of the said events. Any material borrowed from published and unpublished sources has been appropriately referenced. I will bear the sole responsibility for anything that is found to have been copied or misappropriated or misrepresented in the following post.
Hemant Sharma, MBA 2014-16, Vinod Gupta School of Management, IIT Kharagpur.
The increase in concern about the issues regarding health has been proportionately more than the development in the healthcare segment in India. While being a healthcare services provider to people around the globe, having one of the best facilities and specialist doctors; there is still lack of healthcare service penetration in India. According to the Global Health Observatory (GHO) data of WHO given on http://www.who.int,“US$ 1027per capita was spent for health expenditures in 2012”, whereas in India the same figure was $61 as published in Ibef.org. There have however been new initiatives like ‘ReDx-Redesigning Diagnostics’. As reported in The Financial Express on 11 March,” ReDx is an important initiative of WeSchool, to participate in the larger national agenda, through design of unique innovative healthcare product/ services, supporting their conversion to scalable businesses and also mentoring the entrepreneurial spirit of its young MBA students.” The aim of this initiative is to create new design which are path breaking as well as affordable. As reported by The Business Today on March 11,”Xerox shifts to healthcare, education services for transformation”; India as a medical service provider has huge opportunity to collaborate with such companies to improve the healthcare scenarios.
I believe utilizing the new innovations and the innovative processes such as is the case in “Narayana Health (formerly known as Narayana Hrudayalaya) founded by Dr Devi Shetty” the reach of healthcare services can be increased manifold. With proliferation of applications aiding doctors in providing services, technology might very well become a critical factor.