The Healthcare sector in India is growing briskly due to its broadened service portfolio, strengthening coverage and increased funding by both private and public stakeholders. This market is expected to reach 132 Billion USD by 2023 and is witnessing huge investor demand from both domestic and international investors. With an increased impetus by the Indian government through long financing options in Budget 2019, healthcare here assumes a bigger dimension with an increased focus on providing better Healthcare Quality Management. This is a significant step because nearly 5.8 million Indians die due to stroke, heart disease, diabetes, lung ailments and cancer every year.
The Indian Healthcare Budget allocation in 2019 has witnessed a rise of 13.6% to increase the government spend to 8.9 Billion USD. This has been done with the intention of providing better healthcare coverage to the vulnerable sections of society. The government also proposes to channelize funds from the banking segment in order to build the required healthcare infrastructure and foster long-term financing initiatives for providers.
Highlights of Indian Healthcare Budget 2019
Impact of Budget on Hospital Management
Highlights of Indian Healthcare Budget 2019
- The combined Government outlay for Health and Family Welfare, Research and Ministry of Ayush amount to Rs.96139.27 crore. This is a remarkable increase of 16.65% compared to the corresponding budget allocated last year. Out of this, Rs.33199.65 crore is the expenditure allocated for Medical and Public Health and Rs.43585.35 crore as grants for states and union territories.
- North East India has received a healthcare outlay of Rs.6440.52 crore from the Healthcare Ministry.
- The government proposes to set up the 22nd All Indian Institute of Medical Services (AIIMS) in Haryana.
- The Government Flagship healthcare Initiative Programme ‘Ayushman Bharat’ (also called Pradhan Mantri Jan Arogya Yojana (PMJAY)) has been allocated Rs6400 crore. This is a boost of Rs.4000 crore from the last fiscal year’s budget.
- PMJAY provides coverage of Rs 5 lakh for health insurance to over 100 million Indian families on an annual basis. So far, nearly 1 million Indians are benefitted from this scheme through free treatment.
- The government also envisions a healthy society supported by necessary infrastructure sustained with an environment of health assurance. There is also a goal set for 2030 to create distress-free healthcare along with a comprehensive and functional wellness system for all Indian citizens.
- Healthcare Research has been allocated a huge outlay of Rs. 3374.65 crore for the year 2019-2020.
Impact of Budget on Hospital Management
- The budget allocated in the above National Health Protection Scheme covers nearly 40% of the Indian population in tier 2, tier 3 and rural areas. Both primary and tertiary care hospitalisation are addressed to improve the accessibility, quality and availability of healthcare.
- The long term financing calls for liberalised FDI (Foreign Direct Investments) for sourcing medical education and training for bridging the prevailing gaps between supply and demand and reaching the global norms.
- Besides the poor, even the middle-class families are benefitted from the decrease in prices of essential medicines, reduced costs of knee implants and cardiac stents and availability of several medicines at affordable rates.
- There is an enhanced focus to ramp up efforts to arrest the upsurge of Non-Communicable Diseases (NCDs) which are constantly impairing the health of the people like epidemics do. More efforts are on to decrease the morbidity and mortality due to diabetes and cancer cases by creating better awareness and incorporating early screening health programmes.
Despite such positive measures, Indian healthcare indicators on Hospital Management Services (like healthcare provider shortages, lack of medical equipment, drugs and clinical resources, poor infrastructure and medical transport) are weak. The role of Healthcare Consultants for addressing these challenges is vital for building a Healthy India and creating a Sustainable Indian Healthcare Model for the world to emulate.
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