“An Exciting Time for Healthcare Management”, says Dr Ragini Mohanty, faculty-WeSchool

Leading Indian healthcare chains Fortis, Apollo and Manipal are looking forward to 80 per cent increase in the number of foreign patient arrivals this financial year. India’s medical tourism sector is expected to experience an annual growth rate of 30%, making it a Rs. 9,500-crore industry by 2015 .As medical treatment costs in the world begin the affect the pockets of the consumers ; more and more Westerners are finding the prospect of international travel for medical care increasingly appealing. Most of them travel to India for affordable healthcare solutions and combine it with a holiday and/or visit family and relatives every year. With increased levels of income and a growing elderly population in India the healthcare industry is growing at a rapid pace and is expected to become a US$280 billion industry by 2020. In India, healthcare is delivered by both the public and private sector but the public healthcare system managed by state and central governments seems to have failed to deliver not only in terms of volumes but also in term of quality of care. With the Indian economy enjoying a steady growth, attracted by the advantages such as liberal licensing policies and land acquisition laws, lower costs and skilled workforce the earlier family/trust owned lone hospitals began to expand their network, reinventing themselves into sophisticated, state-of-the art facilities that offered world class medical advice and treatments. More and more MNCs set up healthcare facilities that include super specialty hospitals, outreach clinics, R&D facilities, as well as production centers. The time has come when major Indian hospital chains like Apollo and Manipal have begun their ambitious expansion plans to two and three tier towns and are also looking out for opportunities abroad for a possible acquisition, merger or joint venture. This is an exciting time for healthcare management professionals as the field is changing in terms of how and where care is delivered, who is providing those services, and how that care is financed. Talented and trained young people are required to manage the changes taking place and they do have an opportunity to make a significant contribution in improving the health of the communities their organizations serve. The Indian healthcare system is plagued with shortage of qualified and trained staff. Estimates suggest an impending shortage of clinical staff ranging from Doctors and Nursing professionals to paramedical professionals. However shortage of management professionals in the emerging healthcare industry is also becoming apparent. With over 15,000 hospitals and over 90 million hospital beds, qualified and trained management professionals with an understanding of the health system is becoming increasingly important. Current estimates suggest that approximately 40 lakh people are employed for healthcare management jobs in the country. As per a study conducted by Ernst and Young along with KPMG, it was observed that for every bed added to the healthcare system, it will generate an approximate demand of 5 direct and 25 indirect jobs. This demand is expected to rise in the near future as the health infrastructure is augmented to cater to a rising demand for healthcare services, which is estimated to add approximately 1 lakh beds each year. The health care program at Welingkar Institute of Management Development And Research is therefore designed by bringing together multiple disciplines like medical, non-medial, engineering and management to attain the goal of educating and training the much required workforce of Healthcare professionals. The curriculum of the AICTE approved, Two Year, Full Time Post graduate Diploma in Healthcare Management involves academic contents in theory with practical applications across different domains in the healthcare industry and offers specializations in Marketing, Finance, HR and Operations. Interactive classroom sessions by in-house faculty and industry experts, case studies, workshops, visits form an integral part of the pedagogy.Doctors, Physio and Occupational Therapists, Pharmacists, Techocrats With Biomedical Engineering, Graduates from Nursing and Science with a minimum of 50% marks and appeared for either CAT 2010 /XAT 2011 /MAT 2010- FEB 2011-MAY 2011/ATMA 2010-11 would be eligible for admission. With growing diversity in the healthcare system, executives are needed across healthcare verticals such as Hospitals, Multi-Specialty Centers, Clinics / Research Institutions /Health Insurance, Public Health and NGOS, Wellness and Spa outfits, Telemedicine companies. The first job might be an entry- to mid-level management position in a specialized area, such as Medial administration, general operations, support services. Finance,Government and Regulatory liaison, Human resources ,Information systems, Marketing, Branding, PR, Materials management, Nursing administration, Patient care services, Planning and development etc. and once the first step is taken, then the sky is the limit. Healthcare is that one sector of Indian economy that is poised to become a multi disciplinery, multi –Billion Dollar industry, and time is right to take the first step