What does Modi 3.0 mean for the Healthcare Sector?
By Arunima Rajan
Top Healthcare CXOs weigh in on what Modi 3.0 means for the sector-here’s their perspective.
Renjith Krishnan,CEO,Kinder Hospitals
Our growth strategy is closely aligned with the Modi government's healthcare agenda, particularly with its focus on expanding access to quality care and improving health outcomes. As a hospital group dedicated to women and child health, including fertility services, we are enhancing our infrastructure and services to meet the increasing demand for specialized care. By leveraging government initiatives, such as the National Digital Health Mission (NDHM) and the Ayushman Bharat Digital Mission (ABDM), we plan to enhance our facilities and integrate advanced technologies to provide affordable and comprehensive care.
Modi 3.0 opens up significant opportunities for the healthcare sector, particularly in the realm of women's and children's health. The emphasis on improving maternal and child health services is a positive development, and we are excited about the potential for expanded support and resources. However, challenges persist, such as the need for better infrastructure in rural areas and addressing disparities in access to fertility treatments. Overcoming these hurdles will be crucial for fully capitalizing on the government's policies and delivering equitable care.
To enhance accessibility and affordability in healthcare, especially in the field of women and child health, a stronger partnership between the government and private sector is essential. We advocate for more collaborative platforms where private hospitals can work closely with government bodies to align on health objectives. Joint initiatives, shared resources, and clear policy frameworks can help bridge gaps and ensure that comprehensive services, including fertility treatments and maternal care, reach underserved communities effectively.
From the Modi government, we hope to see specific policy support that accelerates growth and innovation in women and child health. This includes increased funding for maternal and child health programs, support for advanced fertility treatments by making it under insurance coverage, and incentives for research into women’s health issues. Policies that promote the integration of cutting-edge technology and streamline the approval processes for new treatments would also greatly benefit our efforts to provide state-of-the-art care and expand our services.
To move closer to the National Health Policy 2017's target of 2.5% of GDP for public health spending, the Modi 3.0 government should focus on increasing budget allocations specifically for women’s and children’s health services. This includes funding for maternal care programs, pediatric services, and fertility treatments. Increased public spending would allow our hospital to expand our services, upgrade our facilities, and offer more comprehensive care. For our patients, this would mean better access to high-quality treatments, reduced financial burdens, and improved overall health outcomes.
Our hospital is actively leveraging digital health technologies to enhance care delivery. We use telemedicine to offer remote consultations, which is particularly beneficial for patients in remote areas seeking specialized care. Our electronic health records system improves patient management and streamlines workflows. To accelerate our digital transformation, we would benefit from government support such as subsidies for technology upgrades, incentives for implementing digital tools, and policies that ensure data security and interoperability. This support would help us integrate advanced technologies more effectively and provide cutting-edge care to our patients.
While Ayushman Bharat has greatly expanded health insurance coverage, there are still challenges related to reimbursement rates and payment timeliness. To ensure the scheme’s long-term effectiveness, we would like to see reforms that include revising reimbursement rates to more accurately reflect the cost of care, improving the efficiency of the payment process, and enhancing transparency in claims handling. Addressing these issues would help us continue providing high-quality care without financial strain, especially in critical areas like maternal and child health.
Our hospital actively contributes to preventive healthcare through community outreach programs, early screening initiatives for women and children, and educational campaigns on wellness. We organize health camps, offer free screenings, and provide resources for managing health conditions early. With government support, such as funding for preventive programs and national awareness campaigns, we could expand our reach and effectiveness. This would help us promote early detection and intervention, ultimately improving public health and reducing long-term healthcare costs.
Narendra Vankar, CEO & Founder, Quantum CorpHealth
In order to accelerate growth and innovation in the healthcare sector, Quantum and other organizations are looking to the Modi government for particular policy support and initiatives.
First, a thorough digital health framework is crucial. This includes expanding the National Digital Health Mission to ensure robust infrastructure for electronic health records, telemedicine, and AI-driven diagnostics, which will facilitate the seamless integration of digital health technologies across the country. Second, increasing financial support for research and innovation in medical technology and pharmaceuticals is important to drive breakthroughs and speed up the development of new treatments. Third, streamlining regulatory processes is vital. Simplifying approval procedures for new technologies and treatments can reduce time to market and foster a more agile healthcare environment. Clear, consistent regulations will also help scale innovations rapidly.
Lastly, improving data-sharing between the public and private sectors can enhance research capabilities and inform better policy-making. Together, these measures will support the advancement and expansion of the healthcare industry.
Quantum sees a lot of chances and difficulties in the healthcare industry under Modi 3.0. Looking at the opportunities, we see the expansion of health insurance. With Ayushman Bharat's growth, Quantum has the opportunity to reach a wider audience and serve more people, especially those from lower-income backgrounds. Additionally, Quantum can use AI and technology to improve telemedicine, digital health records, and remote monitoring because of the Indian government's push for the transformation of digital health, which includes the National Digital Health Mission. Moreover, increased investment in healthcare infrastructure presents opportunities for Quantum to collaborate on developing and upgrading health facilities. The focus on preventive care aligns with Quantum’s strengths in wellness programs and public health initiatives, allowing the company to contribute to and benefit from government campaigns.
Along with various opportunities, there are several challenges in the healthcare sector under Modi 3.0. Integrating new digital health technologies and scaling services to meet government standards may present logistical and regulatory hurdles. As healthcare coverage expands, increased competition from other providers and new market entrants could impact Quantum’s market share. Additionally, aligning with government initiatives will likely require substantial investment in technology and infrastructure, posing financial and operational challenges. While Modi 3.0 offers significant growth opportunities, Quantum must successfully navigate these complex implementation and competitive issues to take advantage of the evolving healthcare landscape.
Dr Jagprag Singh Gujral, SVP MDO/ Head of Emerging Markets, Varian (a Siemens Healthineers Company) and Group CEO- CTSI
Under Prime Minister Narendra Modi's third term, the Indian healthcare sector is poised for transformative changes that could significantly impact its growth and development. Modi 3.0 emphasizes substantial investments in healthcare infrastructure, particularly in rural and underserved regions. The focus on building new hospitals, upgrading existing facilities, and improving medical technology aims to bridge the gap between urban and rural healthcare access. The administration is prioritizing public health initiatives with a renewed focus on preventive care, vaccination programs, and combating communicable diseases. These initiatives are expected to improve overall health outcomes and reduce the burden on healthcare facilities.
The government is likely to foster a conducive environment for healthcare innovation, supporting research and development in medical technologies and pharmaceuticals. This approach aims to accelerate the development and adoption of cutting-edge solutions that can address pressing healthcare challenges. Strengthening public-private partnerships in healthcare is a key aspect of Modi 3.0. By encouraging collaboration between the government and private sector entities, the administration seeks to leverage resources, expertise, and technology to drive healthcare improvements and achieve sustainable outcomes.
Modi 3.0 presents a significant opportunity for advancing India's healthcare sector. The administration's focus on infrastructure, digital health, innovation, and partnerships aligns with the goals of improving healthcare access, quality, and efficiency across the country. As we move forward, these initiatives will play a crucial role in shaping the future of healthcare in India.
Gaurav Agarwal, Co-Chair, Medical Devices Committee, PHDCCI & MD, Innvolution Healthcare Pvt Ltd
As India enters the Modi 3.0 era, we stand at the threshold of a transformative phase in healthcare. The government's commitment to Atmanirbhar Bharat is a powerful catalyst for reducing our reliance on imported medical technologies. However, to truly harness this potential, it’s crucial to address the high customs duties on essential imaging components like X-ray equipment. Equally important, we are hopeful that the government will take a strong stance against the import of refurbished medical equipment where domestic capacity and capabilities already exist. By focusing on these areas, India can solidify its position as a global leader in Medtech, ensuring that advanced healthcare is not only accessible and affordable but also proudly made in India.
