Indian IT service providers are increasing their exposure in the healthcare and pharma segments. Multi-million dollar deals in this space by IT firms over the past three-four months only buttress this trend. Healthcare outsourcing has moved away from just undertaking medical transcription and business process outsourcing (BPO) work to core functions such as drug discovery, testing, research and development.
Continuous investment in capacity expansion, slow pick-up of medical tourism, increasing competition among corporate healthcare entities and lack of health insurance are thus driving away small players and attracting deep-pocketed corporate entities that can afford to sustain on a long-term basis.
The emerging markets in Asia - China, India, Indonesia, Malaysia, the Philippines, Thailand and Vietnam - are accounting for an increasing percentage of the IT spending in the healthcare industry. These markets, especially powered by China, account for 59 per cent of the $3.4 billion IT spending in healthcare in Asia (excluding Japan) in 2007, with their share expected to increase to 64 per cent of the spending by 2010, Springboard Research, an IT Market Research firm said.
In a major decision, the RBI on Friday announced that UPI payment limit to hospitals and educational institutions will be raised to Rs 5 lakh from Rs 1 lakh at present and hiked the cap for e-mandates for recurring payments to Rs 1 lakh. Unveiling the December bi-monthly monetary policy, Reserve Bank Governor Shaktikanta Das said the limit for various categories of Unified Payments Interface (UPI) transactions has been reviewed from time to time. "It is now proposed to enhance the UPI transaction limit for payment to hospitals and educational institutions from Rs 1 lakh to Rs 5 lakh per transaction," he said.
According to a customer experience study by networking solutions provider Cisco, 88 per cent of the Indians surveyed are comfortable with interacting with their doctors virtually instead of meeting them in person.
Nobel Laureate Amartya Sen on Friday said it would be wrong on the part of West Bengal government if it gave too much emphasis on private healthcare delivery system.
During the visit to the gurudwara, some pro-Khalistan elements shouted questions about Khalistani separatist Hardeep Singh Nijjar, killed in Canada in June this year.
The US-based research agency Healthcare Practice, Frost & Sullivan, is hosting the three-day event, the second in the series. The first conference was a multi-city event held in all the metros.
The Kanwar family, promoters of tyre major Apollo Tyres Ltd, is foraying into the healthcare delivery business, with the launch of Artemis Health Sciences
Among the most widely used packages have been treatment of cataract, dental root canal and normal delivery of babies.
Let's take a look at some nations that have most efficient medical systems in the world.
Amid a surge in dengue cases in Karnataka, Chief Minister Siddaramaiah on Monday said he has instructed officials to take all necessary precautionary measures to prevent spread of the vector borne disease and urged the people to give utmost priority to cleanliness in their neighbourhoods.
It is important to be prepared with a corpus to meet expenses that arise suddenly.
Cadila Healthcare Ltd board approved amalgamation of German Remedies Ltd, Recon Healthcare Ltd, Zydus Pathline Ltd & Zoom Properties Ltd with the company.
The proposed committee, to be headed by the secretary of medical education, would study various issues raised by postgraduate students and house surgeons and submit a report within one month, health minister Veena George said.
Mutual funds (MFs) are betting on a turnaround in the healthcare sector to boost returns but are divided on the prospects of the information technology (IT) sector amid uncertain growth outlook. At the end of June, all of the top 20 fund houses were overweight on the healthcare sector vis--vis the sector's presence in the BSE 200 index, shows a report by Motilal Oswal Financial Services (MOFS). In the case of the IT sector, only six of the 20 fund houses had overweight positions.
India has the fastest growing healthcare IT market in Asia, with an expected growth rate of 22 per cent, followed closely by China and Vietnam, says a report.
For the consumer, there would be practically no impact on prices of essential medicines this year.
'What should surprise BJP supporters is Modi's call for 'stability' at the manifesto launch, a theme that he and his team members had not touched ahead of the Lok Sabha polls in 2014 and 2019.' 'The last time the party called for 'stability at the Centre' was in 1998 and 1999,' recalls N Sathiya Moorthy.
Medical education regulator NMC recently notified the "Post-Graduate Medical Education Regulations, 2023" according to which all rounds of counselling for all PG seats will be held online mode by state or central counselling authorities.
The Lok Sabha contest in Thiruvananthapuram is shaping up to be a significant battle involving key candidates like Shashi Tharoor, Rajeev Chandrasekhar, and Panniyan Ravindran. This three-cornered fight highlights the political dynamics in Kerala's capital city, with each candidate bringing their own vision and promises for the region's development, notes Rajeev Srinivasan.
The Centre is against giving any shock in the first year of the rollout by bringing in new services.
GE Healthcare, a $15 billion segment of General Electric company, will continue to invest aggressively in India, where it's logging double digit growth, a top company official said on Friday.
As many as 21 cases of COVID-19 sub-variant JN.1 have been detected across the country till now, NITI Aayog member (Health) Dr V K Paul said on Wednesday but asserted that there was no need to panic.
The 50-share NSE Nifty stayed in the positive zone and retook the 9,900-mark to hit a high of 9,905.05 as buying paced up towards the fag end. It settled higher by 72.45 points, or 0.74 per cent, at 9,899.60.
Rivals like Cognizant Technology Solutions Corp and Infosys Ltd have also sharpened focus on the healthcare sector
However, there is one sector that has the potential to become one of the biggest economic growth drivers for the country, provided the government, industry and entrepreneurs take cognisance of the same. That sector is 'healthcare'. In addition to textiles and IT, this is one sector that has an incredible opportunity to grow exponentially, riding both on the domestic 'demand' as well as the international market opportunity.
UPA chairperson and Congress president Sonia Gandhi announced it while attending the inaugural function at North Eastern Indira Gandhi Regional Institute of Health and Medical Sciences in Shillong on Friday. She however, said no time-frame had been set for unveiling the special healthcare scheme for urban areas.
Prime Minister Narendra Modi heaped praise on the Christian community on Monday for its role in giving direction to the society and sense of service, and said the country proudly acknowledges its contribution.
Reliance Industries chairman and MD Mukesh Ambani on Tuesday announced an additional Rs 20,000-crore investment for West Bengal over the next three years. Ambani said the fresh investment will be in the areas of digital life solutions, retail and bio-energy.
Leaders and members of the Hindu community rue the fact that they are not given proper representation and many are not even registered as voters.
The Kovai Medical Centre Research and Educational Trust has tied up with Philadelphia's Saint Joseph's University to offer an 18-month Master's programme in health and hospital administration.
The Law Commission on Friday told a parliamentary panel that there was a need to define as to what amounts to "lynching" in the proposed Bharat Nyay Sanhita, sources said.
Like so many other MNCs, it is targeting emerging markets, of which India represents a major chunk, as a critical growth area. But India is also rapidly becoming a key geography where some of the innovative products to address the market at the bottom of the pyramid are being developed.
The chances that US President Obama will achieve a near-universal healthcare system have dramatically improved after a lone Republican, Senator Olympia Snowe of Maine, prepared to vote with Democrats for a compromise proposal. This gives Obama a much better chance of achieving the 60 votes he needs to pass a Bill in the Senate.
Bankers said the outlook of M&As in India in 2024, especially in the second half after the Lok Sabha election, seems relatively better.
The government may not be able to put in place the Digital India Act, which aims to replace over 23 years old IT Act 2000, before the next general election, as there is not much time left for extensive consultation, Minister of State for Electronics and IT Rajeev Chandrasekhar said on Wednesday. While speaking at the Global Technology Summit 2023, the minister, however, said the rules for the Digital Personal Data Protection Act will be out later this month for consultation and are expected to be notified by the end of December or early January. Chandrasekhar said the existing IT Act doesn't even have the word internet, and there is a consensus that it can be safely superseded and replaced.
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