India is substantially under-invested in healthcare with 17% of the world’s population but only 6% of the beds. Meager public healthcare spending in India presents a big investment opportunity for private players. The Indian healthcare sector is expected to reach US$ 100 billion by 2015 from the current US$ 65 billion, growing at around 20 per cent a year.
FDI inflow in hospital and diagnostic centre was US$ 1.4 billion during April 2000 and June 2012, according to the latest Department of Industrial Policy & Promotion (DIPP) data. FDI inflow in medical and surgical appliances stood at US$ 523.5 million during the same period, according to the latest DIPP data. Leaders from the healthcare industry met on May 09-10, 2013 in Delhi for the 2nd Annual Hospital Expansion Summit 2013. This was the second conference in the Hospital Expansion Summit series which brought together over 150 key decision makers from hospitals across India. The delegates included hospital owners; CEOs, COOs and Managing Directors of hospitals; representatives from government bodies and industry executives etc. This summit proved to be a great opportunity for industry partners to showcase their offerings and interact with delegates and speakers.The objective of the conference was to discuss the future outlook of the healthcare sector, ways to maximize upcoming opportunities in the healthcare industry, and processes to overcome the challenges associated with hospital expansion. Mr Vineet Kapoor, Managing Director – Indian Healthcare Exchange was the Chairman of this two day conference.
Day one of the conference focused on the need for a seamless healthcare ecosystem. The day began with Mr Vineet Kapoor welcoming the delegates for the Second Annual Hospital Expansion Summit. Following the welcome address, Mr V.P Kamath, Chief Operating Officer, Wockhardt Hospitals, gave his key note on India becoming a global Healthcare destination.His presentation compared the Indian healthcare industry in the 80’s and today. The address also dwelled on how health tourism can become a critical contributor for Indian healthcare roviders to dominate world healthcare. Later, Dr. Praneet Kumar, CEO, BLK Super Speciality Hospital continued his discussion from last year and spoke about the roadmap for Indian Healthcare Industry till 2018.His talk was highly informative and analytical covering aspects of regulatory, investment and growth patterns of Indian healthcare.
In the afternoon session, Dr. Gurbir Singh, Medical Director, Fortis Healthcare talked about macro and micro level challenges for corporate healthcare in tier 2 & tier 3 cities. Dr. Narendra Malhotra, Managing Director, Malhotra Hospitals gave an insight on ‘Maternal Health Economics’ in South Asia & discussed the reasons of poor maternal health across various South Asian countries. In the next session, Mr Vineet Kapoor made a thought provoking presentation on information collaboration in healthcare. He discussed how digital integration and collaboration can overcome the challenges and barriers of information access to healthcare providers and professionals. Both sessions were highly informative for the delegates and attracted fair amount of participation. Day two began with Mr Vineet Kapoor continuing his discussion from Day One. He spoke about B2B Integration in healthcare, which enables healthcare providers to cut costs, save time, reduce complexities and prevent errors. Next, Dr R.V Karanjekar, ED-Medical Services & CEO, Global Hospital talked about hospital energy design, renovation and development of innovative technology applications. In the afternoon session, Dr. Anil Goyal, President (Elect), Delhi Medical Associationshed light on the need of PPP Model in the Indian healthcare. Next, Dr Narendra Gupta, MD, ACP(USA) FRCP(Canada) Medical Director, Diabetes & Hypertension Centre discussed the need &challenges for new and more multi-speciality hospitalswhile the epidemic of Diabetes doubles every 10 Years. The panel discussion on Public-Private Partnership (PPP) Model was highly interactive. Dr Praneet Kumar moderated the panel with Dr Gurbir Singh, Mr Vineet Kapoor and Dr Jagprag Gujral as panelists. The panel established that PPP models are definitely the way forward and success of such models lies with transparency and clarity with respect to project commissioning; execution & decision making; operational accountability; and investment timelines amongst parties involved. This gave delegates an opportunity to share their thoughts with the esteemed panel and discuss pros and cons of having PPP model in the Indian healthcare industry, in the process finding the potential to change the healthcare landscape in India.
The summit was very well received by delegates, speakers and industry partners. Many said that they will be looking forward to 3rd Annual Hospital Expansion Summit 2014 and suggested that such events must be organized more frequently.