Advancements in technology and increasing adoption of digital health are changing the face of India’s healthcare industry. The healthcare industry in India has been experiencing substantial growth, reaching a remarkable $372 billion in growth by 2023. The hospital market in India is expanding too, recording growth from close to $99 billion in 2023, and expected to reach nearly $194 billion by 2032 with a CAGR of 8%. Yet, healthcare management in India is confronted with a variety of challenges, largely stemming from the sheer size of the country, the vast population, and the socio-economic diversity. Key issues include limited funding, inadequate infrastructure, a lack of healthcare professionals, and the burden of high out-of-pocket costs. These challenges further impact the accessibility, quality, and affordability of healthcare services across the country.
Advancements in technology and increasing adoption of digital health are changing the face of India’s healthcare industry. In fact, the government of India has launched several initiatives as part of Digital India to increase accessibility through digitalisation. The Ayushman Bharat Digital Mission (ABDM), a key initiative by the government, is at the forefront of efforts to transform India’s healthcare system, aiming to digitise everything from patient records to the delivery of services.
Efficient hospital management to align with transformation in healthcare
This exponential growth potential indicates that hospitals and healthcare providers in India must leverage the abundant array of technology available to them. This will help them to address key aspects such as: ensuring operational efficiency to optimise costs, leveraging technology to reach maximum potential, and delivering high quality patient experience. To reach this goal, one of the key solutions available to them is an effective and robust hospital management system.
Writer Information is keenly poised to co-pilot our healthcare clients’ journey to address these imperatives with our round-the-clock patient support to hospitals, specialty clinics, and healthcare centres across India. With a strong understanding of what hospitals and healthcare providers need, our scalable, multi-facility, and multilingual platform is designed to support the communication and information needs of operational, administrative, revenue, and clinical departments in hospitals of all sizes.
Let’s explore how an efficient and effective hospital management system such as ours helps hospitals address these imperatives.
As digital technologies expand, opportunities will also continue to increase. For instance, India has garnered a lot of attention as a medical tourism destination. There are estimated 5,00,000 medical tourists each year. The concept of e-health is also gaining ground, with the e-health market projected to grow to an estimated value of US$ 10.6 billion by 2025. With As India's healthcare landscape continuing to evolve, investing in effective management systems to meet this growing demand will be vital for sustaining growth, maintaining compliance, and delivering high-quality, patient-centred care.
How hospital management solutions hold the key to the future
An efficient and effective hospital management solution encompasses all areas of billing, finance, HR, and administration, thereby streamlining processes and improving the quality of patient care. This integrated system allows for quick and easy access to information with just a few clicks.
Here are five key benefits of such hospital management systems:
#1: Patient management – The right hospital management system helps to streamline patient management across the various stages of patient care - from registration to appointment scheduling and billing. Each process can be enhanced to reduce waiting times, eliminate paper work, and provide patients with the right information. From the service providers’ perspective, a hospital management system helps to retrieve patient records easily and accurately, resulting in higher efficiency, informed decision making, and faster patient processing. Writer Information’s robust hospital management system streamlines patient management by simplifying doctor’s appointment scheduling, vaccination details, invoicing, etc.
#2: Cost and service efficiency – A hospital management system can automate several tasks, reducing the dependency of manual data entry and retrieval. This offers two key benefits: it shortens the time required to deliver services, cutting down on manhours and reducing costs for hospitals. For patients, easy access to records leads to faster service and an improved overall experience.
#3: Data security – A cloud-based hospital management system provides strong security layers and algorithms that prevent the misuse and theft of data. Patient data is critical, and governed by stringent laws. Hence, if the data security is not addressed with the right measures, it renders the hospitals and healthcare providers vulnerable to law suits and compliance challenges.
#4: Increased revenues – Along with providing medical and health related services, hospitals also must realise profits. Enhanced efficiency, faster time to service with easily accessible data, accuracy of data, efficient patient management – all key ingredients to improving the topline and the bottom line of the healthcare providers. At Writer Information, we re-engineer our clients’ systems to speed up the process of medical billing cycle and recovery including follow-ups on billing dues, thus minimising revenue loss.
#5: An ear to the voice of the customer - A hospital management system provides data analytics that can easily be correlated, through surveys to the voice of the customer. Writer Information’s hospital management software, for instance, offers periodic surveys for CSAT and NPS, helping our clients understand the pulse of their customers and strategise continuous improvement.
In conclusion, with the rising availability of technologies, hospitals and healthcare providers can aim to expand their reach, improve patient care, and deliver services efficiently. There are around 70,000 public and private hospitals in India. However, the bed-to-population ratio is 1.3 as compared to the recommended ration of 3 per 1,000 people. This itself provides a great opportunity for hospitals to expand services and tap into the underserved population.
- Category: Healthcare
- Date: 13-09-2024