What is the Future of Healthcare Industry in India?

The Indian healthcare industry is forecasted to reach US$ 280 billion by 2020. The growth factors are health awareness in people, improved quality of lifestyle and rising income level. The Government of India approved the continuation of National Health Mission with a budget of Rs 31,745 crore under the Union Budget 2019-20. The Ayushman Bharat - Pradhan Mantri Jan Arogya Yojana (PMJAY), the largest government-funded healthcare program targeting more than 500 million beneficiaries, was allocated INR 6,400 crore (US$ 887.04 million), under the Union Budget 2019-20. Due to a sedentary life, heart disease, obesity, diabetes, hypertension and cancer have become a big burden for healthcare. The positive part is that research is doing in the above-mentioned area very fast. Inpatient and opd patients require quality treatment with the latest technology of science and qualified, competent and experience skilful doctors. The current scenario is changing towards the concept of the multispecialty hospital, wherein one roof patient can get services starting from registration, insurance diagnostic test and treatment with the high-class facility. Scenario changing Healthcare in India The data from registration, medical history to discharge details can be saved in difference smart app devices and software.  Marketing, international patient exposure, administration and management of different departments also create a vacancy for different stream competent health care managers and executives. Healthcare Industry in India comes with huge employment opportunities. Here are few opportunities that you may seek after completing your degree:
Job opportunities that MBA courses in healthcare & hospital management lead to:

1. HOSPITAL CEO:

Hospital CEO plays a crucial role in managing the hospital. CEO's manages all the finance related issues. In this position you have to take charge of:

• Planning and budgeting
• Negotiatingnew contracts with vendors
• Figuring out cost-effective strategies
• Select top executives for key hospital roles.

2. HOSPITAL ADMINISTRATOR:

They work behind the scene to make every healthcare facility work as efficiently as it does. The work expectations include:

• Hiring doctors
• Developing budgets
• Framing new policies for quality assurance and patient service
• Promoting and implementing new medical treatments
• Assuring compliance as per government guidelines

3. PHARMACEUTICAL PRODUCT MANAGER:

After completing a MBA course in Healthcare, you can be a Pharmaceutical Product Manager. You will be responsible for:

• Analyzing investments
• Reviewing market data
• Planning new promotions for new drugs and devices

4. MEDICAL PRACTICE MANAGER:

The work of the Medical Practice Manager is more like a hospital administrator but on a smaller scale. They have responsibilities like:

• Budgeting and billing
• Hiring and managing staff
• Legal compliance
• HIPAA compliance
• Managing Schedules
• Ordering Supplies

5. HEALTH INFORMATIC MANAGER:

A Health Informatics Manager works with various health organization and hospitals and manages the flow of information. The tasks that assigned include:

• Managing the data and ensuring its accuracy
• Proper flow of data and information to other departments

Ensuring that all computers (hardware and software) are capacitated to process data properly.