Dr Saarthak Bakshi

The author is CEO, International Fertility Centre

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The Emergence Of Entrepreneurship In The Health Sector

To preserve and protect the interest of the consumers, the healthcare sector of the country desires to evade the problem of greed and corrupt practices

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India has always experienced a fading healthcare sector with no provision of proper hygiene and sanitation facilities at various spheres of life. With most of the population is settled in the rural areas where is there is lack of cleanliness facilities and even proper toilets too. Such conditions give rise to the menacing diseases and infections to the people of our country. 

The country doesn’t even have proper healthcare centres and public hospitals which shall be able to deal with these problems. These problems were taken to be as a business opportunity by the entrepreneurs which had a dual motive of catering to the society and earn profits. The Entrepreneurs are wise enough to sense opportunities and threats easily which enables them to translate the prospect into realism. 

The growth of the country is not promising unless the healthcare sector of the country is advanced. A strong healthcare sector of the country is very important to ensure that the citizen of the country is healthy and can contribute progressively to the economic growth of the country. Thus, the entrepreneurs of the country that are emerging into the healthcare domain must cater to the following aspects to ensure their progress: 

1.     Efficient Services: This is the foremost concern of the people that the treatment provided to the patients must be effective. A fruitful treatment along with a satisfaction to the patients shall eventually result in greater patients approaching them because of the enhanced word of mouth. The effective delivery of services leads to loyal patients which will eventually result in greater revenues for the entrepreneur. 

2.     Substantially Reduced Costs: Costs are again a concern of most of the people of the country as polarity based on economic background exists in our country. The disadvantaged shall still be deprived as the only upper middle class and the upper class will be able to endure the mounting expenses of the hospitals. Thus, it is very important that the entrepreneurs ensure that they cater to and look closely to the amounts that will be chargeable from the patients.

3.     Focussing more on Patient Holding: The important area of any hospital or healthcare provider is to hold on to their patients as a loyal patient would always return to the doctor in favor of remuneration. Unethical practices by the healthcare providers are very alarming and upsetting which often results in comprising the safety and wellbeing of the patient. The healthcare providers must focus on what is the best and wholesome for the health of the Patient. Must go in for practices that only seek to resolve their health problems and base their decision making keep in view the health of the patient. The aspect of patient retention in lieu of profit making and commercialisation aspect should be kept aside as a patient’s life is at stake.

4.  Cater to the Interest of the Consumers: To preserve and protect the interest of the consumers, the healthcare sector of the country desires to evade the problem of greed and corrupt practices. Entrepreneur must ensure that he walks only on the path of truth and morality as someone else’s life is at stake. 

Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house

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