Health is Wealth

In terms of the growth rate, the health care industry in India is moving ahead neck to neck with the pharmaceutical industry and the software industry of the country. Much has been said and done in the healthcare sector for bringing about improvement. Till date approximately 12% of the scope offered by the healthcare industry in India has been tapped. This industry in India is reckoned to be the engine of the economy in years to come.

Expenses incurred by the Indian Government on healthcare are the highest in developing countries. India’s expenses on the healthcare sector comprise 5.25% of the GDP. Chances are the health care market could experience a hike and can attain figures ranging from $53 to $73 billion, five years from now. This in turn will reflect an increase in the GDP of 6.2% GDP. The healthcare industry in India earns revenues accounting for 5.2% of gross domestic product. Existing healthcare organizations in new service areas and new organizations are entering with state of art equipment, technology and marketing strategies.

Until recently doctors without professional training in management were managing hospitals. This was not only tough but made it difficult to devote time for their patients. A lot of medical graduates are taking up further specialization in hospital administration. Even non-medical professional are increasingly taking the mantle of hospital administration. Even the government is veering round to the view that public hospitals also need to be run professionally. Hence there is a strong need for a course in Healthcare Management.

The average age of the workforce in any hospital form middle level management to a senior level is 29 – 35 years of age, all handling pivotal and mammoth, responsibilities. The entire administrative structure is turning over a new leaf wherein the human resources departments are on a spree of hiring individuals between the age of 28 – 32 at middle level posts to inject the much needed innovation, energy and vigor to the pulse of their organization. There is a strong conviction that it is this Gen X which will take healthcare to its next level.

A program in healthcare management prepares you for:

A management graduate who studies only general functional areas such as marketing, production, finance will need to develop an appreciation of the healthcare domain to contribute meaningfully to this sector. Similarly a health science professional lacks knowledge and application of management principles. This program bridges the capabilities required to use and apply management principles in people management, finance operation, communication and other areas in the healthcare sector.

A specialized program in healthcare ensure participants are
1) Able to understand management principles and practices

2) Functional elements of management, business environment and its influence on organizations in the Indian context.

3) Prepare and implement business

4) Develop human relationship skills

5) To provide theoretical and practical knowledge of Healthcare services, Hospital Organizations — Operation and planning.

6) address healthcare issues specific to the Indian context with exposure to real life cases / technical know how in the healthcare services sector and give the student a starting edge in the health care industry.

Career opportunities that can open up for a person trained n Healthcare management:

It is not only hospitals which require management professionals. A whole lot of specialization exists in the following sectors:
1) Lifestyle clinics
2) Emergency medicine units
3) Pharmaceutical firms
4) Hospitals information systems
5) E-health ventures
6) Credit rating firms
7) NGOs and Health Insurance
8) Hospital administration
9) Hospital planning and Management Consultation

The industry too is upbeat with the availability of efficient manpower to handle managerial tasks in healthcare services.