The second day of CII’s Asia Health saw imminent dignitaries such as Dr Jitendra Singh and Dr Vinod Paul with various national and international speakers discussing and deliberating on issues such as Exporting From India – Health, Technology and Skills, Accelerating Healthcare Funding across Segments, Building Immunity for the Future and the evolving consumer trends in healthcare.
COVID has attracted attention to the status of immunity, with technology allowing for convergence of various sectors stated Dr Jitendra Singh, Prime Minister`s Office; Personnel, Public Grievances and Pensions; We must become advocates to request the Union Government, but also the state government to enhance spending on health. The benchmark spending or acceptable level of funding should be around 8% of the budget. There has been a provision for priority spending for banks on healthcare to be increased from 5 crores to 10 crores particularly directed towards Ayushman Bharat related work focused on tier 2 cities. The Doctor to patient population ratio of 1:1000 will be achievable and be achieved by 2024 expressed Dr Vinod Paul, Member NITI Aayog .
India in handling the pandemic has made huge leaps and bounds on changes in the provision of healthcare stated Dr Shubnum Singh Advisor CII Healthcare Council. In terms of investment opportunities in healthcare, you need to have a long term horizon. Investment returns in the short run will not be seen expressed Ms Suneeta Reddy, Chairperson – Asia Health 2020, /Managing Director, Apollo Hospitals
The main concern with regard to the COVID vaccine currently is of production, logistics and distribution expressed Dr Siddharth Mukherjee, American Indian Physician & Pulitzer Awardee. Digital and technology will definitely improve the efficiency of the healthcare system. We have to expand primary care, increase capacity and reduce cost build doctors and paramedics and build high technology stated Dr Rama Bijapurkar , Senior Fellow, Center for Inclusive Growth and Chairperson, People Research on India’s Consumer Economy
Mr Joy Chakraborty Chief Operating Officer PD Hinduja Hospitals said that we need to create a healthcare brand under the aegis of the government. There are two main aspects of healthcare exports that we need to focus on which are cross border delivery of trade and movement of resources from one country to another and establish infrastructure. India should not restrict ourselves to import of healthcare services and products but also the value addition that we do to the same expressed Mr Madan R Krishnan Vice President Minimally Invasive Therapies Group (MITG) APAC & VP-MD India Subcontinent (South Asia) Medtronics said that Prof Ramanan Laxminarayan F ounder and Director Center for Disease Dynamics, Economics & Policy (CDDEP) and Senior Research Scholar Princeton University, USA said that India cannot manufacture domestically because it does not have the scale for manufacturing. Need to build on telemedicine diagnostics and artificial intelligence where India has the core competencies. Need to grow the local healthcare market in terms of quality and standards Developing countries show lesser of public health spending than developed countries, however, Private healthcare spending in developing countries has contributed to the healthcare viability and accessibility in urban areas and is now moving towards semi-urban area expressed Mr Vishal Bali, Executive Chairman, Asia Healthcare Holdings, Senior Advisor - TPG Growth. Dr Nachiket Mor, Visiting Scientist, Banyan Academy of Leadership in Mental Health stated t he catalyst of change for healthcare services will stem from the role of insurers. The role of insurers has been understated in this market. They have not emerged as strong players in buying healthcare and promoting healthcare service
Mr Alexander Fernandes Oliveira, Chief Investment Officer, International Finance Corporation (IFC) stated healthcare is a public good and everybody has to have access to quality healthcare. This used to polarise people between whether it should be provided by the public or private sector. Today, the mindset has changed, with the private sector seen to complement the efforts of the public sector in providing healthcare services. Mr Srini Nagarajan, MD & Head – Asia, CDC Group stated that r unning a commercially viable healthcare model in tier 2 and tier 3 cities is very difficult. There are five key areas that affect these models; difficulty to get talent, patient affordability to pay is lower, weak physical infrastructure, clinical standards and business integrity.
Though there is secular growth in healthcare, drivers keep changing over periods of time. Regional players are becoming stronger and largely as healthcare is ultimately a local business, you try to create regional brands expressed Mr Venkatesh Ratnasami, Managing Director, Temasek. Dr Prem Pavoor, Partner & Head of India, Eight Roads Ventures stated from a services perspective, there has been a clear shift to tier 2 and tier cities. Healthcare services in certain tier 2 and tier 3 cities have not seen a drop in the revenue.
CII Asia Health 2020 will also see Experts from USA, UK, Singapore, Israel, Russia, Bhutan, Maldives, Angola, and many other countries coming together to deliberate on thought leadership and discuss on Health, Technology, Ayurveda and how these systems can ensure healthcare delivery across Asia through India. Imminent Dignitaries, national speakers and international speakers will be addressing knowledge sessions on a wide range of issues that cuts across the healthcare spectrum looking to develop a cohesive industry engagement with core cross sectoral policy dialogues and strategic exchanges. CII is committed to the vision of putting India back on the map, with the Indian healthcare leading the way.
19 November 2020