Troubles Of The Healthcare Market And A Paramount Necessity To Produce Technology Driven Solutions
Although, we have seen a boost in the Public health expenditure and development of many health-tech startups in past couple of years, however the overall progress in improving the healthcare is still between average to poor.
The sheer absurdity that 930 million Indians own cell phones, however the majority of them have no access to clean water is bizarre. Statistically, in order for our country to catch up to the standards of numerous developed countries, our country needs to shell out about as much as $50 billion just on hospital beds, and that's just the beginning!
Apart than this, there are various problems that need an immediate attention, like the ridiculous urban versus rural divide of health care requirements, effective payment mechanisms in practically 70% of India's healthcare landscape. And one of the most harmful problems that haunt the industry is the threatening lack of basic healthcare and infrastructure.
As the expenditure on health and wellness by Government continues to be low amongst most of the countries around the world. More than 30 per cent of Indians lack the access to the basic healthcare services.
The ratio of doctor to patients in the Rural India is depressing one doctor to 5000 clients, its way below the bare minimum standards recommended by WHO. To top this, the Government infrastructure in the rural areas are in a terrible condition. It's certain that even with new Government's promise to revamp the healthcare facilities, it's not going to happen overnight. And there is no the doubt that the private sector will play a major role in leveraging the technology, as well as offering healthcare solutions for filling in the gaps caused by the poor healthcare infrastructure.
For example, lack of healthcare professionals can be resolved by video consultations, affordable devices or asset-light designs focused on tech solutions to resolve basic health issues. Basic indicators like, blood pressure, sugar levels, etc can be consolidated and tape-recorded in a data format and after that send to physicians in real time which can help doctors focus more on severe medical cases.
Today smartphones have more computing juice than most of the computers, this can be leveraged to revolutionize the diagnostics. Considering the level of penetration these smartphones delight in, it can have an immense potential to improve various challenges incurred due to lack of healthcare infrastructure.
It's without a shadow of a doubt that the Healthcare industry of our country is complex in nature, but it likewise has a mammoth sized opportunity. Another problem that affects the healthcare industry may make up a smaller chunk of the entire Indian healthcare landscape, but it's one of the fastest-growing sectors in the country, its the medical devices industry. The Medical Device Sector of our country is undeveloped. In past, we have faced a number of regulatory challenges which has prevented its growth, but with the new government's positive stance on eliminating regulatory obstacles has made the medical devices sector a promising area for future development.
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