IIPM BEST B-SCHOOLLooking
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at the brighter side, the private sector in India is home to the best medical facilities in the world. Growing at an enviable 25% annually, CII research confirms that medical tourism in India (primarily in the private sector) is worth $350 million and is expected to reach an estimated $2 billion within the next six years. Riding on unbelievable cost advantages over its developed cousins, the Indian private healthcare sector has obliterated competition with a skilled and contemporary manpower-technology combination. For example, even for a normal bypass surgery, B&E research shows how India enjoys a tub thumping 361.5% cost advantage over the same surgery in US.
Today, like everything else in India, even healthcare is profit-oriented. The government is focussing mainly on primary healthcare in India; ergo, corporate India has taken the secondary and tertiary healthcare routes, which are fast becoming the cash cows of the sector. IBEF shows how, with an average healthcare cost of $4.3 per person, private healthcare in India is nearly 50% more expensive than the public system.
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Source : IIPM Editorial, 2007
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative