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The Hi Five!
 Let
me give you top five reasons why another eventful year has passed by for healthcare.
And it became crucial than ever before. Forget the recession blues, or the pink
slips, healthcare industry was infact in the 'pinkest of its health'.
Firstly, our healthcare industry finally silenced the doubts of all the skeptics
that healthcare in our country is affected by recession blues. When most industries
were grappling with manpower reduction, salary cuts and reduction of frills,
for healthcare it was an all-time boom. Profit margins soared like never before.
For instance, Apollo Hospitals registered a net profit of Rs 78.86 crore in
the first six months ended September 30, 2009, against Rs 59.40 crore in the
year-ago period in the previous year. Similarly, Fortis Healthcare Limited by
October end announced that consolidated net profit grew 347 per cent over the
corresponding period to Rs 20.5 crore. The year witnessed some key projects
being commissioned (Mumbai's Kokilaben Dhirubhai Ambani Hospital being a significant
one) and many more being in the pipeline. Ample senior hospital administrators
also hopped jobs for more lucrative offers than what happened a year before.
Secondly, the consolidation of some corporates in 2009 at a pan India level
is equally significant. Look at the aggressive growth plan of Fortis Healthcare
Limited that clenched the biggest deal in Indian healthcare so far, by buying
10 Wockhardt hospitals for over Rs 900 crore. Post 2009, Fortis has a national
network of 38 hospitals, second only to Apollo, which has 46 hospitals. Piramal
Healthcare also followed this path by acquiring Minrad and having majority stakes
in Kavery Medical Centre.
Thirdly, the focus of some groups in 2009 to strengthen their regional presence
is noteworthy. Look at Dr S Vikram's plans of setting hospitals all over Karnataka,
MIMS' strategy of around 10 hospitals in Kerala or GNRC's announcement of hospitals
across Assam.
Fourthly, from foraying into tier-II cities (which made buzz some time back),
efforts were being made in 2009 to make healthcare both accessible and affordable
to all in other ways. Besides concepts like 'Reach Hospital' by Apollo or low-cost
model healthcare by Vaatsalya, we need to make a special mention of medical
equipment companies that are fully focused on reducing the cost of equipment.
For instance, GE's launch of MAC I, a low-cost ECG product which conducts ECG
at Rs nine, is a laudable achievement.
Fifthly, in 2009, the buzz in healthcare was no longer about quality. Hospitals
can no longer just boast about ISO, NABH and JCI. Quality is sin qua non for
any decent hospital. Besides quality, now it's about environment-friendly design
concepts, say by American Society of Heating, Refrigerating and Air-Conditioning
Engineers (ASHRAE) and certifications by Leadership in Energy and Environmental
Design (LEED). Kudos! Changing targets means faster developments.
A very happy new year to all our dear readers!
Rita Dutta
rita.dutta@expressindia.com
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