Atul Modak, Vice President, Kohinoor Hospital
The Indian healthcare space is cost competitive as compared to its peers in Asia and Western countries. The cost of surgery in India is about one-tenth of that in the United States or Western Europe. Due to this, India has the potential to become a leading player in medical tourism. It is increasingly emerging as the destination of choice for a wide range of medical services. There are numerous advantages of coming to India for treatment such as accredited medical facilities using the latest technologies and highly qualified physicians/surgeons, hospital support staff available at a cost-effective price.
We are in the midst of a massive transformation of the healthcare system. This new era of value-based care with an intense focus on quality, collaboration, and cost-effectiveness provides both tremendous opportunities and significant challenges. With rapid penetration of health insurance companies across the country, everyone will reap the benefits of quality healthcare.
While there are very significant changes impacting the industry, our mission and vision remain unchanged. We remain focused on providing affordable quality healthcare and enhancing patient's satisfaction.
As a hospital, we at Kohinoor Hospital focus on excellence in quality provided to our customers both internal and external, ensuring rational and optimal use of processes and resources. We are one of Asia's first and the world's second to obtain the LEED Platinum green building certification. The hospital stands distinguished as the only hospital in India with both NABH and LEED Platinum accreditations.
Today's competitive environment leaves no room for error. We must delight our patients and relentlessly look for new ways to exceed their expectations. This is why achieving quality in whatever we do has become part of our culture.
Kohinoor Hospital is gearing for the next stage of an expansion plan that would see an addition of five more hospitals in the next three years and also planning to increase the beds in the existing hospital. As part of next year's budget, 5 crore would be allotted to buy new equipment and upgrade existing equipment.
The healthcare delivery environment in India has distinctive challenges. Government needs to take a holistic approach like development of standard treatment guidelines, prescription audit, quality assurance methods, incentives for low-cost medical device manufacturing, investment in health education, care delivery infrastructure, usage of modern day technology to improve performance, efficiency, and accountability in public and private sectors.
GST (goods and services tax) bill has grabbed the attention across all sectors in the country. Healthcare sector's exemption from GST is a welcome move in which the government has accorded healthcare centers the due importance and impetus that they need to become game-changing agents for the transformation of India, its people, and the economy.
The Indian government recently announced a significant price capping on the cardiac stents available in the market, which will surely benefit the huge cardiac patient pool in the country. This is promised to be a significant move toward the government's initiative to provide affordable healthcare for everyone in the country.
It is enlightening to see the growth of our organization as we strive for excellence and quality in healthcare.