Dr Manisha Karmarkar, CEO, DPU Super Specialty Hospital, Pimpri, Pune
“There is a critical need to strengthen the healthcare ecosystem in the smaller towns and cities of our country. To enable this last-mile outreach of healthcare facilities, the sector must be given the ‘infrastructure’ status that will enable the private players to leverage the benefits and strengthen the healthcare fabric of India. The honourable finance ministry must allocate 3 per cent of the overall GDP towards strengthening the medical infrastructure of the rural counterpart.
A deduction in import duties on medical equipment along with an incentive scheme for the adoption of a technology-driven approach will encourage and empower healthcare facilities across India to evolve into tech-driven hospitals. The diplomatic ties with multiple countries must be leveraged to promote medical tourism by announcing benefit packages for foreign individuals to get treatment in India. These factors will reap dual benefits that include boosting quality and advanced medical services reach the nooks and corners of the country, but also strengthen India as a lucrative medical tourism destination. There is also a need to simplify visa and other regulatory procedures to create a seamless experience for foreign nationals visiting India for treatment purposes.
Last but not least, we look forward to a robust policy favouring the financial and infrastructural empowerment of the Indian med-tech sector that will help the hospitals curb the imports and boost the Make in India ideology, across the country and the world.”
Dr Simmardeep S Gill, MD & CEO, Sterling Hospitals, Ahmedabad
“The upcoming union budget is expected to bring important changes to the healthcare sector, addressing key needs and improving services. We need rationalised GST rates and lower import tariffs on diagnostic equipment to make operations smoother and encourage local production, reducing our dependence on imports.
India has a burden of diseases like cancer, with nearly 1.5 million new cases every year and the number might increase in the future. We need more trained oncologists and radiation therapy facilities to bridge the gap in cancer care. Similarly, cardiovascular diseases remain the leading cause of death. Investing in cardiology infrastructure and specialists is also necessary.
Beyond infrastructure, innovation is key. India’s medical tourism sector, valued at $9 billion, showcases potential. Health tourism in India is on the rise as NRIs flock to hospitals for cost-effective treatment. Streamlining processes and infrastructure can further enhance this sector. Similarly, the robotic surgery market is projected to grow from USD 8 billion to USD 25.4 billion by 2030. While robotic surgery holds immense promise, affordability needs to be addressed. Investing in AI and machine learning can revolutionise diagnostics and personalised care. These technologies can improve diagnostic accuracy, streamline hospital operations, and personalise patient care, making healthcare more efficient and effective. Ultimately, we look forward to a budget that meets these expectations and helps us provide accessible, affordable, and high-quality care for everyone.”
Dr Narendra Vankar, CEO & Founder, Quantum CorpHealth
“Following India’s interim budget layout in February, the upcoming budget is expected to maintain that framework, providing sufficient attention and funding support for all elements of the healthcare ecosystem. The quality of care delivery is at the core of the industry and interlinks aspects like nutrition, sanitation, and elder care. Shifting towards a preventative healthcare approach is crucial to ensure the affordability and accessibility of healthcare. Aligning with the changing nature of health promotes a sustainable future for all Indians. Investing in features like telehealth, remote medical care, and solid medical databases can remove obstacles and make sure that healthcare can be given to all Indians, especially the rural and underserved population. The government of India has already been focusing on bringing healthcare to all Indians through schemes like Ayushman Bharat which offers free healthcare to the underprivileged. It is important now to move into a space where all citizens are able to access the same consideration and benefits instead of relying on private insurance. With good quality and swift medical care, we can ensure that all citizens are receiving what they deserve. The priority of the Indian citizen is shifting, especially as they become more health-conscious, and having accessible and affordable healthcare is the need of the hour for Budget 2024.”
Dr Bilal Thangal T M, Medical Lead, NURA
“We acknowledge and appreciate the government’s commitment to advancing AI technology, including healthcare initiatives and the establishment of three ‘Centres of Excellence’ in top educational institutions, a key step toward realising ‘Make AI for India’ and ‘Make AI work for India’ highlighted in an announcement from the Union Budget 2023-2024. AI holds the potential to transform disease diagnosis and treatment through faster, more accurate analysis of medical data and images. At NURA, India’s AI-based health screening centre inspired by Japanese models, we are trying to transform the imaging and screening industry with AI-assisted devices enabling intelligent scanning and predictions. By promoting the concept of early screening equals prevention, we advocate for proactive healthcare practices that significantly improve patient outcomes and reduce healthcare costs. Further, we support the government’s focus on transforming healthcare models and encouraging critical research aligned to enhance healthcare accessibility and effectiveness in India through AI. We eagerly anticipate collaborative efforts driving innovation for cutting-edge healthcare solutions nationwide.”