Building a hospital is expensive and challenging. A few of the challenges include large capital requirements, location of the hospital, electricity, and water, adopting green building strategies, approvals, certifications, licenses, manpower availability, regulations, and guidelines. In such a case medical equipment loan becomes a very easy option. Also, hospitals should be always ready to respond to both expected and unexpected changes, such as possible increased regulatory demands, environmental mandates, and future healthcare innovations.
Owing to the huge under-penetration of healthcare facilities in India, hospitals have emerged as one of the most lucrative businesses lately. The sector has been attracting a lot of interest from foreign investors, Private Equity, Venture Capitalists, businesspersons, etc.
The Indian healthcare industry is growing at a rapid pace. As the industry is growing fast, the supply of suitable manpower for the industry has not kept up the pace. There are many challenges that the industry faces on various counts. Many hospitals can opt for medical equipment loans for hospitals to avoid some of these challenges. Rural India is where 70 per cent of the Indian population resides and hence healthcare demand in rural areas is growing. All this is putting a lot of pressure on the management of the hospitals as there are shortages of well trained and qualified staff.
India’s healthcare system
In India, there exists a significant quality difference between healthcare in rural and urban areas and between public and private healthcare providers.
The Government of India has several schemes aimed at promoting healthcare in India. The National Rural Health Mission was established in 2005 for the improvement of health care in rural India. This mission focuses resources on rural areas and states with poor health facilities.
Despite the presence of a vast number of healthcare schemes for the poor population, ineffective public healthcare and insurance models have hindered this effort. Furthermore, extended hospital waiting times, no availability of beds, the perception that public health care in India is of poor quality, and significant labour and infrastructure shortages are all systemic impediments to access.
The major challenges faced while building a hospital in India are as follows
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