In terms of the growth rate, the healthcare industry in India is moving ahead neck to neck with the pharmaceutical industry and the software industry of the country. Much has been said and done in the health care sector for bringing about improvement. Till date, approximately 12% of the scope offered by the health care industry in India has been tapped. The health care industry in India is reckoned to be the engine of the economy in the years to come. Growing at an envious rate of 15% every year, the health care industry in India is estimated to be a $40 million by 2012.
Expenses incurred by the Indian Government on health care are the highest amongst developing countries. Indias expenses on health care sector comprise 5.25% of the GDP. Chances are that the health care market could experience a hike and attain a figure ranging between $53 to $73 billion five years from now. This in turn will reflect an increase in the gross domestic product to 6.2% GDP. The health care industry in India earns revenues accounting for 5.2% of gross domestic product.
Employment opportunities are provided to as many as 4 million people in the health care segment or other related sectors catering to the health care industry in India in some way or the other. Owing to the vast differences in medical expenses in western countries and that of India, India has become one of the favorites for health care treatments. Due to the progressive nature of the health care sector in India, several foreign companies are intending to invest in the country.
Existing health care organizations are expanding by opening hospitals in new service areas and new organizations are entering with state of art equipment, latest technology and marketing strategies.
Consequently, competition in the health care sector is on the rise. Hitherto available options were limited to health care consumers. But they have now more and better options. Added to this, increased incomes and awareness levels are driving the costumers to seek quality health care.
The providers in turn need to be more innovative in their approach and offer quality services at competitive prices. They are therefore increasingly confronted with the challenges to ensure cost effective quality care at affordable prices. All this necessitates a specially trained cadre of professional management graduates in health care.
Until recently doctors without any professional training in management were managing the hospitals. This was not only tough but made it difficult to devote time for their patients. Thanks to rapid corporatization, a lot of medical graduates are taking up further specialization in hospital administration. Even non-medical professionals are increasingly taking the mantle of hospital administration. Even the government is veering round to the view that public hospitals also need to be run professionally. Hence there is a strong need for offering a course in Health Care Management.
It is evident that there is a wide gap between supply and demand for trained health care managers/ administrators to work for hospitals, pharmaceutical companies, health insurance and third party administrators and other health care provider organizations. There are bright opportunities even in the government sector. The National Rural Health Mission (NRHM) envisages appointment of health care administrators. The demand for health care professionals is envisaged to increase manifold in the years to come with more and more hospitals expected to come up in semi urban and rural areas.
In current times, the average age of the workforce in any hospital right from the middle-level management to a senior level is 29-35 years of age, all handling pivotal and mammoth responsibilities. The entire administrative structure is turning over a new leaf wherein the human resources departments are on a spree of hiring individuals between the age of 28-32 at middle-level posts to inject the much-needed innovation, energy and vigour to the pulse of their organization. There is a strong conviction that it is this GenX which will take healthcare to its next level. Moreover, this vibrant young lot is also equally eager to cash in on the boom in healthcare.
What does a program in Healthcare Management prepare you for? A management graduate who studies only general functional areas such as marketing, production, finance will need to develop an appreciation of the healthcare domain to contribute meaningfully to this sector. Similarly a health science professional lacks knowledge and application of management principles. The Healthcare program bridges the capabilities required to use and apply management principles in people management, finance, operation, communication and other areas to the Healthcare Sector.
A specialized program in healthcare ensures that participants are: - able to understand management principles & practices, - functional elements of management, business environment & its influence on organizations in the Indian context - prepare & implement business plans - develop human relationship skills - to provide theoretical and practical knowledge of Healthcare services, Hospital Organization - Operation & planning- address healthcare issues specific to the Indian context with exposure to real life cases/technical know-how in the healthcare services sector & to give the student a starting edge in the healthcare industry.Career Opportunities that can open up for a person trained in Healthcare Management: It is not only hospitals which require management professionals. A whole lot of specialized exist in the following sectors: - lifestyle clinics-emergency medicine units-pharmaceutical firms-hospital information systems-e-health ventures-Credit rating firms-NGOs and Health Insurance now require trained manpower -Specialized in hospital administration.
The industry too is upbeat with the availability of efficient manpower to handle managerial tasks in healthcare services.
Grading of healthcare institutions is another area with lot of excitement and challenges for healthcare managers and they can learn newer concepts here. Rating agencies like CRISIL and ICRA have absorbed many freshers in the recent past as healthcare consultants. Doctors and administrators/managers form a crucial link in Third Party Administrative (TPA) operations. They can be assigned tasks like gate keeping functions, claim audit - technical evaluations, claim investigations, etc. To bridge the huge demand-supply gap in the professional management segment, experts feel that more teaching facilities should be set up.
Welingkar Institute of Management will soon launch an 11 month Post graduate program in Healthcare management so that Healthcare Executives. This program is ideal for MBBS, BDS, B.Pharm, BEMS, BHMS, BAMS, B.Sc.(graduates with experience of 1-2 years or freshers, BMS (graduates with 1-2 years experience) in healthcare sector. To ensure we have the multi-faceted expert guidance that the program requires, Welingkar Education has ensured eminent personalities on the Advisory board from the Pharma sector, leading hospitals and the education sector.
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In terms of the growth rate, the healthcare industry in India is moving ahead neck to neck with the pharmaceutical industry and the software industry of the country. Much has been said and done in the health care sector for bringing about improvement. Till date, approximately 12% of the scope offered by the health care industry in India has been tapped. The health care industry in India is reckoned to be the engine of the economy in the years to come. Growing at an envious rate of 15% every year, the health care industry in India is estimated to be a $40 million by 2012.
Expenses incurred by the Indian Government on health care are the highest amongst developing countries. Indias expenses on health care sector comprise 5.25% of the GDP. Chances are that the health care market could experience a hike and attain a figure ranging between $53 to $73 billion five years from now. This in turn will reflect an increase in the gross domestic product to 6.2% GDP. The health care industry in India earns revenues accounting for 5.2% of gross domestic product.
Employment opportunities are provided to as many as 4 million people in the health care segment or other related sectors catering to the health care industry in India in some way or the other. Owing to the vast differences in medical expenses in western countries and that of India, India has become one of the favorites for health care treatments. Due to the progressive nature of the health care sector in India, several foreign companies are intending to invest in the country.
Existing health care organizations are expanding by opening hospitals in new service areas and new organizations are entering with state of art equipment, latest technology and marketing strategies.
Consequently, competition in the health care sector is on the rise. Hitherto available options were limited to health care consumers. But they have now more and better options. Added to this, increased incomes and awareness levels are driving the costumers to seek quality health care.
The providers in turn need to be more innovative in their approach and offer quality services at competitive prices. They are therefore increasingly confronted with the challenges to ensure cost effective quality care at affordable prices. All this necessitates a specially trained cadre of professional management graduates in health care.
Until recently doctors without any professional training in management were managing the hospitals. This was not only tough but made it difficult to devote time for their patients. Thanks to rapid corporatization, a lot of medical graduates are taking up further specialization in hospital administration. Even non-medical professionals are increasingly taking the mantle of hospital administration. Even the government is veering round to the view that public hospitals also need to be run professionally. Hence there is a strong need for offering a course in Health Care Management.
It is evident that there is a wide gap between supply and demand for trained health care managers/ administrators to work for hospitals, pharmaceutical companies, health insurance and third party administrators and other health care provider organizations. There are bright opportunities even in the government sector. The National Rural Health Mission (NRHM) envisages appointment of health care administrators. The demand for health care professionals is envisaged to increase manifold in the years to come with more and more hospitals expected to come up in semi urban and rural areas.
In current times, the average age of the workforce in any hospital right from the middle-level management to a senior level is 29-35 years of age, all handling pivotal and mammoth responsibilities. The entire administrative structure is turning over a new leaf wherein the human resources departments are on a spree of hiring individuals between the age of 28-32 at middle-level posts to inject the much-needed innovation, energy and vigour to the pulse of their organization. There is a strong conviction that it is this GenX which will take healthcare to its next level. Moreover, this vibrant young lot is also equally eager to cash in on the boom in healthcare.
What does a program in Healthcare Management prepare you for? A management graduate who studies only general functional areas such as marketing, production, finance will need to develop an appreciation of the healthcare domain to contribute meaningfully to this sector. Similarly a health science professional lacks knowledge and application of management principles. The Healthcare program bridges the capabilities required to use and apply management principles in people management, finance, operation, communication and other areas to the Healthcare Sector.
A specialized program in healthcare ensures that participants are: - able to understand management principles & practices, - functional elements of management, business environment & its influence on organizations in the Indian context - prepare & implement business plans - develop human relationship skills - to provide theoretical and practical knowledge of Healthcare services, Hospital Organization - Operation & planning- address healthcare issues specific to the Indian context with exposure to real life cases/technical know-how in the healthcare services sector & to give the student a starting edge in the healthcare industry.Career Opportunities that can open up for a person trained in Healthcare Management: It is not only hospitals which require management professionals. A whole lot of specialized exist in the following sectors: - lifestyle clinics-emergency medicine units-pharmaceutical firms-hospital information systems-e-health ventures-Credit rating firms-NGOs and Health Insurance now require trained manpower -Specialized in hospital administration.
The industry too is upbeat with the availability of efficient manpower to handle managerial tasks in healthcare services.
Grading of healthcare institutions is another area with lot of excitement and challenges for healthcare managers and they can learn newer concepts here. Rating agencies like CRISIL and ICRA have absorbed many freshers in the recent past as healthcare consultants. Doctors and administrators/managers form a crucial link in Third Party Administrative (TPA) operations. They can be assigned tasks like gate keeping functions, claim audit - technical evaluations, claim investigations, etc. To bridge the huge demand-supply gap in the professional management segment, experts feel that more teaching facilities should be set up.
Welingkar Institute of Management will soon launch an 11 month Post graduate program in Healthcare management so that Healthcare Executives. This program is ideal for MBBS, BDS, B.Pharm, BEMS, BHMS, BAMS, B.Sc.(graduates with experience of 1-2 years or freshers, BMS (graduates with 1-2 years experience) in healthcare sector. To ensure we have the multi-faceted expert guidance that the program requires, Welingkar Education has ensured eminent personalities on the Advisory board from the Pharma sector, leading hospitals and the education sector.
| Check Top MBA Colleges in India by Cities | | |
| Also Read Important Articles on MBA Admission | ||
| Top MBA Colleges in India | MBA Admission | MBA Entrance Exam |
| MBA Placements | MBA Ranking In India | GD Topics |
Indian Healthcare industry is estimated to be a $40 million by 2012, says Group Director, Welingkar Institute