The Indian healthcare industry has grown by leaps & bounds and is one of the most flourishing sectors in India today. The industry size is expected to touch US$ 160 billion by 2017 and US$ 280 billion by 2020. Apart from modern healthcare amenities, the country’s traditional healing practices are hugely popular and attract people from all over the globe to the country.
The burgeoning healthcare sector has generated the need for non–medical skilled professionals who are trained to take charge of administration and a host of other day to day business operations which are a part of every healthcare organisation. Previously these departments were headed by senior doctors. For them, such administrative duties lay beyond the purview of their expertise. With the landscape of this industry undergoing a rapid transformation, the need of the hour is qualified professionals with specializations in various aspects of healthcare management.
What should you study?
There are multiple career avenues in this sector and plenty of jobs. But you have to find your job fit to make a mark in this highly competitive industry. NSHM Knowledge Campus offers a number of courses that could help you to secure a place in this industry. You could opt for an MBA with specialization in Healthcare or pursue a degree in Hospital Management. A degree in Travel & Tourism which we offer can also help you unearth a gamut of employment opportunities in the field of Medical Tourism, for which India is fast becoming the global hotspot. NSHM also offers degrees in Optometry & Pharmacy, courses that offer students the opportunity to specialize in these particular areas.
What are the career prospects?
Hospitals have now become super specialty facilities where routine processes are complex and require skilled professionals who are can undertake and discharge the duties. The managerial efficiency at these hospitals have to be top-notch since they operate 24*7, all through the 365 days of the year. An extremely smooth & error free workflow has to be in place and the pace of work has to be brisk. Hospital administration involves looking after human resource management, billing and finance management, technology decisions, IT management and working under a given budget. Such professionals must have excellent interpersonal skills, the ability to work under multiple constraints and deliver in time & on short notice.
Medical tourism is flourishing in India. The country ranks among the top 3 medical tourism destinations in Asia. World-class healthcare infrastructure, qualified doctors coupled with lower cost of treatment is a big draw for foreigners. Also, post treatment recuperation at some amazing locales is an equally important part of this process.
This apart, over the years, native Indian medicinal and therapeutic practices have garnered a huge fan following. People from all over the world are coming to India to avail alternative modes of therapy like Ayurveda, Yoga, Naturopathy, Unani, Siddha and Homoeopathy. Ayurvedic spa resorts, healing centres, yoga and meditation retreats have foreigners flocking to them all year round. Agencies or organisations providing this service, offer end-to-end solutions to those who wish to come into the country for availing the medical facilities.
In general, the current market scenario in India is conducive for start-up ventures. Thanks to the government it’s grabbing eyeballs and making its presence felt across the globe. It’s not surprising that there’s growth-spurt ventures in the country. A lot of healthcare start-ups are creating news with their innovative offerings. In-home customized healthcare services which include periodical health checkups, care givers for the elderly, nursing at home, arranging from start to finish treatment at any hospital etc are facilities that these start-ups are providing. Such services are transforming the scenario of the Indian healthcare industry. Working with such a start-up can be exciting and rewarding in its own way.
Health Insurance Companies
A growing number of Health Insurance companies are generating many job opportunities in this industry. An understanding of how this sector works, the nitty gritty involved when it comes to reimbursing insurance claims, are job responsibilities that you have to undertake if you are working with such firms. Having a health insurance policy has now become a must for most families and with that, these companies are reaping huge profits. Working with such a company can prove to be financially rewarding.
By 2020 India is expected to feature among the top three pharmaceutical markets in the world. The Government of India has unveiled ‘Pharma Vision 2020’ which aims at making India a global leader in end-to-end drug manufacture. Both domestic and international companies are leaving no stones unturned to tap the potential of this industry. As career options, one can look at working as a medical representative or in a more technical capacity that is directly involved with drug making .
The healthcare industry is recession free. Economic upheavals may change lifestyle, but when it comes to availing medical treatment, people never compromise. In general, there is an increased awareness on health related issues. People are also willing to spend more to avail the best medical facilitates that are on offer.
Business in this sector straddles the positive growth curve. In India especially, this industry will continue to thrive owing to the country’s massive population. Medical needs will only augment, never diminish. Also, the government is in the process of making huge investments to create a robust healthcare infrastructure for the urban and rural population. Hence, this sector will be generating thousands of jobs in the near future. So, it’s safe to say that planning a career in this sector is definitely worthwhile .
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