15 September 2017: ITC SONAR, Kolkata
The Indian healthcare sector is undergoing a major transformation with focus sharply shifting towards making delivery of health services more affordable, accessible and inclusive, taking quality healthcare to the doorsteps of the masses. Overall Indian healthcare market is worth around US$ 100 billion and is expected to grow to US$ 280 billion by 2020, a Compound Annual Growth Rate (CAGR) of 22.9 percent. To help achieve this target, efforts of the government and the healthcare industry are geared towards innovations and technological interventions to effect incremental changes in the entire healthcare ecosystem.
The challenges: Global evidence on healthcare spending shows that unless a country spends at least 5-6% of its gross domestic product (GDP) on health with government having a major stake, basic healthcare needs are seldom met. In India, public spending on health is 1.1% of GDP.
Affordable healthcare segment offers immense opportunities in India for meeting the healthcare demands of the poor. It is also a big ticket business opportunity for investors, start-ups and a major career opening to various professionals. The out of pocket expenditure on health care as a proportion of total household monthly per capita expenditure is 6.9 percent in rural areas and 5.5 percent in urban areas. Despite India providing free care in public hospitals for maternity, new born and infant care, the burden of out of pocket expenditures remains quite high. The major focus area of the Government is to enhance public health expenditure to 2.5% of GDP (from the present low level of ~1%) in 5 years.
There is also very low health insurance coverage in the country. About 300 million people or 25% of India’s population is covered with some form of health insurance, according to the World Bank. The Insurance Regulatory and Development Authority of India, meanwhile, claims that only 17% of the population has some form of insurance coverage—and according to the latest National Sample Survey Organization Survey on Health and Morbidity (2014), only 13% of the population is covered by government-funded insurance schemes.
The healthcare financing system in India is confronted with the following issues:
- Highly fragmented and multiple components and models.
- Tax-financed healthcare systems provide primary to tertiary level of care.
- Several publicly managed insurance schemes cater to government employees, while the private insurance sector largely caters to higher income groups, mostly employed in the private sector.
- Most of these insurance plans are largely limited to covering inpatient hospital care as opposed to primary care medications needed to treat chronically ill patients.
Technology is also playing a major role in the Affordable Healthcare section in the recent years especially with the smart phones becoming universally available. The healthcare market is predicted to grow from $100 billion in 2016 to $280 billion in 2020. With an increasingly high number of Indians gaining access to the digital media, the digital technology is going to be the next big thing in the health care sector too.
CII Healthcare East, in its Twelfth edition, would focus on vital healthcare issues that would make the services more Affordable, Ethical and Accessible to All. Eminent speakers at CII Healthcare East would delve deeply into the essence of how both public and private sectors as strategic partners seek to enable universal health coverage and deliver quality healthcare services to all at affordable costs.
As a key industry-led and industry-managed organization, playing a proactive role in the development of the Indian healthcare sector, Confederation of Indian Industry (CII) is organizing the 12th Healthcare East at ITC Sonar in Kolkata on 15 September 2017, with clear objectives of helping the industry to bridge the existing gaps across the country’s health ecosystem to foster growth.
Topic for Discussion:
- Role of Hospitals for providing Quality and Affordable Healthcare: What are the current pain points of the affordable healthcare segment and possible solutions.
- Building Affordable Healthcare Delivery Systems: Telemedicine, Home Healthcare and use of Technology for better patient Care.
- Universal Health Insurance in India - A way forward: Around 86% of the rural population and 82% of the urban population are not covered under any scheme of health expenditure support.
Benefits of attending:
- A unique forum for major stakeholders in the East to discuss a roadmap for affordable and inclusive healthcare.
- A meeting ground of some brilliant minds exchanging fresh ideas, discussing latest innovations and technologies.
- A platform that will host policy makers, top industry leaders, academics and other stakeholders exchanging thoughts and ideas as to how India can emerge as a formidable player in the healthcare sector on world stage.
- Evolved as a platform where doctors, nurses and hospitals redeem the pledge to work towards improving the care by increasing the availability and affordability of healthcare.
This conference focuses on bringing together major stakeholders of the Eastern India’s healthcare system to deliberate, discuss and take proactive measures to create a roadmap for affordable and inclusive healthcare.
So, come join this extraordinary platform that will host thoughts of leaders, policy makers, top industry leaders, academia and other industry stakeholders from the healthcare sector at The 12th Healthcare East to contribute your bit to make India a global heavyweight in healthy sector.