Varun Khanna, MD, BD India, emphasises on the key areas to work on, in changing dynamics of the healthcare industry
As 2016 ended with demonetisation, and a cleaning up of the system, we must look at 2017 as the year of getting a fresh start on health, both at the individual and societal level. Most economies in the world tie in their financial years with the calendar year, and even though India doesn’t, January is all about resolutions, reaffirmations and re-dedication. We need to move towards healthier life and communities where we live in. In India, we need to account for, and address the inequities in our healthcare system and as our country has diverse healthcare needs, we cannot do it all in a year. If we can focus on the key areas that impact us all, we can ensure a more equitable healthcare distribution.
Here are the key developments that we can work on in 2017.
A higher health quotient
This year, I see people getting wiser with preventive health, not just in terms of a better diet, exercise, and other lifestyle changes like cutting out on smoking and stress, but also in terms of procuring health insurance. The government’s allocation itself went up by 152 per cent in a year, at Rs 1,500 crore, to make healthcare a priority. Now, as people are becoming more aware ,they are considering to make health insurance a part of their yearly budget. This propels insurance companies to customise packages, which help individuals, families, and economies in the long run.
A more collaborative environment
The various healthcare facilitators—pharma and device manufacturers, hospitals and care centres, have come together to address disease prevention and surveillance gaps in the healthcare delivery system. Manufacturers must offer product solutions and services which addresses safety of healthcare workers, patients and communities, while simultaneously reducing their impact on the environment. For instance, BD is working with Healthcare Sector Skill Council to improve the phlebotomy practices across laboratories in India. As an effort to create a safe injection environment, BD is working with healthcare providers and experts to ensure that safe techniques of injections and disposals are followed. Through its NABH Safe-I programme, BD has been improving the infection protocol processes across hospitals. Such integration between multiple touch points in the care continuum will ultimately lead to accessible and affordable healthcare.
Greater participation from thinkers and innovators
In the past, healthcare was seen as a large-investment activity—setting up manufacturing plants, investing in healthcare infrastructure, revamping the medical education system. I see younger people getting involved with healthcare now, which makes our pool of talent larger. I also see them breaking down the notion of traditional brick-and-mortar structures being the only way to deliver healthcare. Online education modules, health apps, wearable devices that provide not just accurate monitoring, but also abundant data that can help in better population-based studies, are all changing the way we look at the sector. Technologies that demonstrate accuracy, speed and efficiency will become an attractive solution. So there could be more point-of-care/ portable diagnostic devices which will result in improved outcomes, patient satisfaction and increased access to care in under-penetrated and limited settings. With the spirit of entrepreneurship getting a shot in the arm this year, 2017 will no doubt see more people investing in the healthcare space.
Quality healthcare with an impetus on ‘Make in India’
Research, know-how, technology are often elements that we associate our foreign partners with. With 100 per cent FDI now possible in the hospital and device manufacturing sector, we will see increased competition, pushing up the level of patient care in hospitals, to incorporate international quality standards. Like many other segments of the Indian manufacturing industry, medical devices manufacturing primarily focusses on frugal engineering to develop India-specific low cost products, aimed at lower- and middle-income segments. The potential of this segment is expected to be unlocked as the demand increases and per capita consumption of medical devices improves. While the government has undertaken several steps to address the issues of healthcare access, quality and affordability, challenge therefore for companies in India is will be manufacture medical devices that are both cost competitive and effective to increase penetration and usage. It is in this context that the ‘Make in India’ initiative will become increasingly significant for the medical devices industry that will continue to serve across the patient care continuum and be well-aligned with the dynamic healthcare industry that continues to evolve.
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