‘Will’ to strengthen the Healthcare System and ‘willingness’ to initiate the process, are some of the many positive impacts of the COVID19 pandemic. It has been an eye-opener to the governing bodies worldwide especially in developing countries like India. The pandemic exposed the poor Healthcare system, inadequate infrastructure, feeble transportation, substandard equipment, unequal distribution of resources, shortage of manpower, black-marketing of life-saving drugs, inability to check corruption, lack of preparedness and most importantly mismanagement.
However, on a positive note, governments are trying hard to overcome these problems and planning to be prepared for any such health emergency in future. And thus there will be a great demand for young, dynamic and professional Healthcare Managers that will strengthen the Healthcare system.
Overview of Healthcare Sector:
World Population has crossed the 7.8 Billion mark and is expected to grow exponentially at a terrific rate in the future (approximately 8.5 Billion by 2030; 9.1 Billion by 2040 & 9.7 Billion by 2050). The World has experienced a tremendous rise in life expectancy (45.7 Years in 1950; 66.3 Years in 2000 & 72.4 Years in 2021) & a steep decline in mortality rate (1.77% in 1960; 0.85% in 2000 & 0.75% in 2019) owing to advancement in medical science, the advent of life-saving drugs & equipment, education and awareness.
With such a swelling population there will be a great need for Healthcare Professionals, Healthcare Infrastructure and allied businesses such as Pharmaceuticals, Logistics, Sanitation, Health Insurance, Manufacturing of Medical equipment, Legal, related IT support, Robotics, Artificial Intelligent, Mobile Apps, Wearable Devices, Manpower Management etc. The Healthcare Industry is booming and thus it will need extremely trained and professional Managers to manage the entire sector. Healthcare Managers are and will be in great demand to manage hospitals, associated factories, firms, companies etc.
Healthcare Industry in India is expected to reach $5 Billion by 2023 with a Compound Annual Growth Rate (CGAR) of 39%. India is planning to create 1 Million skilled Healthcare Provides by 2022 to be prepared for future growth. According to the U.S. Bureau of Labour Statistics, the need for Healthcare & Hospital Management professionals will increase by 17% in the near future. Also in the current COVID19 pandemic situation, there is a surge in the Healthcare Industry and a deficit of Healthcare professionals. All these statistics indicate that there are huge opportunities in the Healthcare sector for Healthcare & Hospital Management Professionals.
Healthcare Industry in India:
In a nutshell, the Healthcare Industry in India can be divided into the following major divisions namely Hospitals, Medical Devices, Clinical trials, Telemedicine, Medical Tourism and Health Insurance.
The Hospital Industry is expected to reach $132 Billion by 2023 from $ 61.8 Billion in 2017; growing at a CAGR of 16-17%.
The Indian Medical Tourism Market is expected to grow from its current size of $3 Billion to $7-8 Billion opening the doors for new business like Hospitality, Food, Travelling etc.
The Telemedicine market in India is expected to rise at a CAGR of 20% during 2016-20, reaching $32 Million by 2020.
India will be opening 70,000 Ayushman Bharat centres throughout the country aiming at providing Healthcare near every home.
The Health Insurance business grew 17.16% year-on-year to reach $6.87 Billion in FY20.
India is developing at a colossal rate, every sector is expanding and Healthcare is one of the government’s prime focuses. In doing so, there will be a great demand for Healthcare & Hospital Management professionals. Thus, it is a great option for young aspirants to choose an illustrious career in Healthcare & Hospital Management. Indira Institute of Management, Pune is one of those institutes in the country which offers 3 years full-time BBA course with a Healthcare & Hospital Management specialisation.
It is an established fact that Healthcare is a perpetually growing sector. It is a good option for young and dynamic students to make a career in it. BBA in Healthcare & Hospital Management is the course that will equip the students with all the required knowledge and skill essential for ensuring a promising career in the Healthcare sector.
BBA aims at acquainting students with different research methodologies, evaluating available data and accurately predicting the changing trends to help manage the Healthcare facilities more effectively. It also familiarises the students with Healthcare laws & regulation and emerging technologies.
After completing BBA in Healthcare & Hospital Management, graduates have an opportunity to work in Hospitals, Health Clinics, Fitness centres, NGOs, Insurance firms, Healthcare consultancy firms, Diet & Nutrition consultancy firms, Pharmaceutical companies, Government Health departments, Medical Research Institutes or as a Freelance Consultant.
BBA in Healthcare & Hospital Management at Indira Institute of Management, Pune:
Indira Institute of Management, Pune (IIMP) is an ace institute under the aegis of the prestigious Indira Group of Institutes. It is an autonomous institute approved by AICTE, New Delhi & affiliated with Savitribai Phule Pune University. IIMP is one of the premier institutes imparting quality management education in the country. It has a team of proficient faculties with years of industrial and teaching experience. It has an excellent Industry-Academia interface facilitating industrial exposure and placements.
IIMP in collaboration with Indira College of Pharmacy is now offering a 3-year, full-time BBA course with Healthcare & Hospital Management as a specialisation. It is a great opportunity for students willing to make a career as a Healthcare & Hospital Management professional.
For more details about the course, eligibility criteria, syllabus, fees, admission process etc. please visit our website: www.indiraiimp.edu.in
-by the Branding Team