Career Avenues in the Healthcare Industry
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$ 280 billion by 2020. With the onset of a global level pandemic, the importance of this sector has gone up substantially. 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.
Demand for skilled Workforce
When any industry grows it seeks support from multiple disciplines. Healthcare being a highly pervasive service is no exception to this rule. Based on the changing needs and dynamics of the end users the demand for skilled futuristic work-force translates to finding the right courses and knowledge base to match. Discovering the right fit, in this highly competitive industry is half the challenge.
One could opt for an MBA with specialization in Healthcare or pursue a degree in Hospital Management. A degree in Travel & Tourism will open up employment opportunities in the field of Medical Tourism, for which India is fast becoming the global hotspot. Apart from these, degrees in Optometry & Pharmacy present a particularly specialized approach necessary at the work front. Truly there is more to health care than just the doctors and nurses.
Various Entry Points into the Industry
- Public/Private Hospitals: Hospitals have now become super specialty facilities where managerial efficiency has to be top-notch to operate 24*7, all year. A seamless workflow backed with a brisk pace of work, 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: India 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. Over the years, native Indian medicinal and therapeutic practices have garnered a huge fan following. People from all over the world 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.
- Healthcare Start-ups: Thanks to the government initiatives, these start ups are grabbing eyeballs which is why it is not surprising that there’s growth-spurt in the economy owing to this new wave. Innovation is the core of the business, eg: delivering 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. 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 one has to undertake if they are working with such firms. With insurance being a necessity there is no dearth for career prospects in this field.
- Pharmaceutical Companies: By 2021India will feature among the top three pharmaceutical markets in the world. The Government of India has unveiled ‘Pharma Vision 2020’ which aims to make 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.
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. NSHM offers a host of courses that can get you closer to the entry points click here to know more