Entry of both corporates and startups in providing professional care services at home could give India’s healthcare industry a new lease of life.
There aren’t hoards of moaning patients vying for the doctor’s attention. You won’t even notice any unrelated family members huddled outside the patient’s room. In fact, nothing is like a conventional hospital scene. However, all the necessary paraphernalia including monitors, nurses, doctors and high-end medical equipment are all present — within the confines of your own home.
Welcome to the world of healthcare at home. Not only are you more comfortable, but the service is also cheaper — almost 3-5 times lesser than standard hospital charges. As healthcare services make deeper inroads into people’s houses, it looks like soon only highly specialised services such as surgeries will remain confined to the hospitals.
The concept of providing healthcare facilities at home has been around in other countries but only limited to nursing care or, at best, the presence of an attendant. A few Indian players are trying to replicate the concept in India but in a slightly more elaborate way. For instance, service providers in India are not just working with hospitals and doctors but also with pharmaceutical companies to deliver the stock of medicines, mostly high-end, at the patient’s door step. And these services are just a minuscule drop in the home healthcare ocean growing at a CAGR of 18 per cent from $3.2-billion in 2016. A CyberMedia Research, reports that the market for home healthcare in India will reach $6.2 billion by 2020.