According to the WHO, health technology refers to the putting on organized knowledge and skills utilizing devices, medicines, vaccines, procedures, and systems developed to solve a health problem and improve quality of life. Advancing health technologies increases the medical care costs. Health can be a major financial problem and a significant issue throughout the world. Investment in health technology is essential for very long term financial stability and also to improve efficiency, support consistent delivery of quality health care also to avoid high-cost inpatient settings.
Health care investment in India
According to an ICRA industry report on Healthcare, India invested 5.1 % of its GDP on health in 2001. The health information mill estimated at $30 billion and includes retail pharmaceutical, healthcare services, medical and diagnostic equipment, and supplies. The private sector dominated the medical market and also this increased participation from the private sector in healthcare services is stimulating change inside the Indian health care industry. Government of India has endorsed tariff and non-tariff measures that have further stimulated healthcare market development by letting more hospitals to supply critical care services. These investments are expected to lower medical care costs for patients experiencing debilitating diseases.
The Confederation of Indian Industry’s (CII) Indian Healthcare Federation estimates that there’s a smart investment opportunity of approximately US$25 billion in the next 8-10 years to create health technologies and also other facilities that will place the sector around the global healthcare map.
Health raises the delivery of healthcare services and …Continue reading