Indian healthcare industry is one of the largest sectors in the economy in terms of revenue and employment. It is slated to grow to US$ 280 billion by 2020, which is composed of hospitals (public and private), medical devices manufacturers, medical tourism, health insurance, outsourcing and other allied service providers. An estimate shows that India requires 700,000 additional beds in the next 5 years. A huge transformation is waiting to happen in the healthcare industry in India such as digitisation, patient centric healthcare services development, Indian population is graduating from cure to disease prevention, explosion of life style related diseases, health awareness among general public, increased disposable income towards healthcare etc. There is a huge opportunity in the healthcare industry for all the stakeholders. But we need to change the way, we look at this industry. What helped us to grow so far, will not be sufficient to take us to the next level. Indian healthcare industry is no longer bound by national borders. Medicines that are made in India is sold across the globe and patients from around the world visit India for treatment. What needs to be done to capitalise the opportunity? The answer lies in Healthcare Business Analysis.
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