Indian Healthcare – Working Towards Landmarks Records
INTRODUCTION &SNAPOSHOTS
- The Indian healthcare market is looking towards a jump to figures like $ 372 billion by 2022.
- Moreover, it is the fourth-largest employer today. The growing increase in diseases has raised the number of diagnostic avenues and hospitals across the sector. Furthermore, the advent of health insurance has made a huge difference. Foreign investors are making a beeline for the country in healthcare.
- Hospitals and diagnostic centres have already attracted foreign direct investment of $ 3,133.81 million between April 2000 and June 2015.
MARKET SIZE ,SCOPE &GROWTH
- The healthcare market is supposed to be increase three-fold trillion (US$133.44bn)by 2022.Indian Medical tourism market also growing@18% y-o-y & is expected to reach US$9bn by 2020.
- The GDP is rising due to significant scope for enhancing healthcare services spending remarkable percentage to GDP.
- The Indian Govt. at present expenditure on healthcare sector has grown to 1.6 per cent of the GDP in FY20BE from 1.3 per cent in FY16.
- Health insurance is gaining momentum in India. Gross direct premium income underwritten by health insurance grew 17.16 per cent y-o-y to Rs. 51,637.84 crore (US$ 7.39 billion) in FY20.
Investments & Future Opportunities
- In Union Budget 2020-21, Rs 35,600 crore (US$ 5.09 billion) has been allocated for nutrition-related programmes.
- The Government has announced Rs 69,000 crore (US$ 9.87 billion) outlay for the health sector that is inclusive of Rs 6,400 crore (US$ 915.72 million) for PMJAY in Union Budget 2020-21.
- Road Ahead –India is a land full of opportunities for players in the medical devices industry.
- Indian healthcare sector is much diversified and is full of opportunities in every segment
- The hospital industry in India is forecast to increase to Rs 8.6 trillion (US$ 132.84 billion) by FY22 from Rs 4 trillion (US$ 61.79 billion) in FY17 at a CAGR of 16-17%
- The sector is ripe for expansion. The corporate hospital model is gaining success. The World Media Network is aiming at encouraging medical tourism, showing a promise to grow to $7-8 billion by 2020. With the rise of telemedicine, things seem to be looking their best. The World Media Network seems to have the exact know-how of all things digital and encompasses boundaries like no other.
- Competition in the insurer dominant market
- In this sector, hospitals have to compete for the inclusion of insurers’ provider networks and also try to control costs effectually since both have a more crucial role to play in this market. Ultimately, the most important factor in acquiring contracts and retaining patient base is the price.According to some reports, the competition in the healthcare sector could not improve efficiency as many times the public and private insurance companies pay as much as three-quarters of the bills. Moreover, there are certain blockades in the competition such as limited reimbursement based incentives as the providers are not sufficiently compensated for delivering values. Even if the providers have improved value, they are not properly rewarded with increased market share giving inadequate market share incentives. One more reason for failure in the competition is that the participants are intended to divide value instead of creating value thereby making the competition zero-sum-based.
- The use of new technologies and innovations in the healthcare industry is proving to be a great base to increase competition in the field. Few are mentioned below.
- 1) Payer-Provider Analytics/data software: It helps the organizations to claim data, analytics, and decision-making tools based on the quantitative data.
- 2) Competitor analysis: Competitor analysis allows the physician to use the referral data and find which competitor receives the most referrals. Moreover, it also helps to learn about the organizations which might make the best partners based on referral volume.
- 3) Artificial Intelligence: Disruptive technologies such as AI can help the patients to schedule doctor appointments analyzing severity symptoms, monitor health status, etc. Further, as per the situation, it could notify a human nurse and keep the homecare assistants fully informed about the progress of the patient. There are few innovations in which smart bots help in healthcare services, the bots are provided with chat messaging service.
SCOPE- INVEST INDIA – “WMN” VITAL ROLE IN TERMS OF FDI
”WMN” is playing an important role in all the categories and sectors,
“ WORLD MEDIA NETWORK” is venturing into a Press Release distribution company covering over 180 countries and more than twenty-five languages across the world. Covering Digital News, Television, Print, Radio, Billboards, Airports, Multiplexes,Talk shows .
Press releases are based on Industry standards and timely Coverages help in business development and scope of growth among the countries and FDI’s “WMN” is helping upcoming n existing businesses to grow within the perpetual business as the government is working towards domestic and international Tie-Ups .
Most service-oriented industries need to be promoted through WMN with direct and indirect participation and looking for opportunities for Franchising modules in the world.
“WMN” LEAD GENERATION
There are two types of lead within the lead generation market: sales leads and marketing leads. A Sales lead is generated on the basis of demographic criteria such as FICO score (United States), income, age, home Income, psychographic, etc. These leads are resold to multiple advertisers. Lead generation describes the marketing method of stimulating and capturing interest in a very product or service for the purpose of developing a sales pipeline. Lead generation typically uses digital channels and has been undergoing substantial changes in recent years from the increase of the latest online and social techniques.
MINISTRIES OF THE GOVT.OF INIDA “WORLD MEDIA NETWORK” ASSISTANCE
“ WMN’’ will guide the corporates/ company/ individuals in establishing the business in India depending on the states to get the required permissions from the Ministries of The Government of India.
The Ministries include
Ministry of Health
Ministry of Railways
Ministry of Power
Ministry of Electronics & Information & Technology
Ministry of Communication
Ministry of Tourism & Transport
Ministry of Civil Aviation
Ministry of Petroleum & Natural Gas
Ministry of Chemicals & Fertilizers.
Ministry of Commerce & Industry
Ministry of Ayush
Ministry of Agriculture & Farmers
Ministry of Department of North East region
Ministry of Earth Sciences
Ministry of Environment, Climate change & Forest
Ministry of External affairs &Finance
Ministry of Fisheries, Animal Husbandry, Dairying
Ministry of Heavy Industries& Public Enterprises
Ministry of Home Affairs, Housing &Urban Affairs.
Ministry of Human Resources Development
Ministry of Information &B broadcasting
Ministry of Jal Shakti
Ministry of Law &Justice
Ministry of Labour &Employment
Ministry of MSME’s
Ministry of Mines
Ministry of minority affairs
Ministry of New & Renewable Energy
Ministry of Panchayat Raj
Ministry of Parliamentary Affairs
Ministry of Personnel, Public Grievances & Pension
Ministry of Science & Technology
Ministry of Rural Development
Ministry of Road Transport & Highways
Ministry of Shipping
Ministry of Skill Development & Entrepreneurship.
Ministry of Social Justice & Empowerment
Ministry of Steel, Textiles, Tribal affairs.
Ministry of Women & Child Development
Ministry of Youth Affairs & Sports
Ministry of Statistics & Programme Implementation.
RURAL MARKET IN INDIA& INVEST IN INDIA
“WMN”STRATEGY
Importance of brand visibility in Rural Markets of India for high brand Recall & Pull. It’s easy to ignore other languages if one the dominant language makes up the majority. While English does make for the majority, there is a section that only consumes content in a regional language and this section could be your most important target audience. To be present Indic content we also encouraging websites to enagage consumers in multiple languages.
”WMN”is going to support in many ways through various resources. In Moral, Development of any country not only depends on the continuous development of the urban areas but also relies on the development of the small towns and rural areas. Government, as well as individual actions together, contribute towards the success of any country as a whole. The Major industries in Rural market segments are mainly covered with as….
1)FARMING
2) ORGANIC FARMING.
3)LIVESTOCK FARMING
4)FISH FARMING
5)FIVE STORES IDEAS ie SEEDS & FERTILIZERS STORE,GROCERY STORES,ICECREAM & SWEET STORES,CLOTHING & CHEMISTS STORES.etc.
6) DAIRY FARM BUSINESS
7)POULTRY,SMALL SCALE UNITS MANUFACTURING UNITS & CONSTRUCTIONS.
8)LOW BUDGET VILLAGE BUSINESSES etc.