Investment stimulus could definitely become a game-changer in the health sector private domain
Investment in the expansion and development of the health sector in the private domain has been somewhat low and the recent stimulus announced by the government provides the country with an opportunity to change this situation, Niti Aayog Member (Health) V K Paul explained.
In the country, this is an opportunity to improve this situation, Niti Aayog Member (Health) V K Paul explained on Tuesday. Finance Minister Nirmala Sitharaman on Monday declared that Rs 1.5 lakh crore of additional credit for small and medium businesses, more funds for the healthcare sector, loans to tourism agencies and guides, and waiver of visa fees for foreign tourists as part of a package to boost the pandemic-hit economy.
The government will also give Rs 23,220 crore of extra funding for setting up children and pediatric care/beds at hospitals to prepare them for any emergency occurring out of a possible third wave of COVID.
“There has been relatively low investment in the development of the health sector in the private domain. The stimulus announced yesterday allows us to improve this situation,” Paul explained while releasing a report titled ‘Not-for-Profit Hospital Model in India’.
According to an official declaration, the report provides insight into the operating model of not-for-profit hospitals. It presents research-based conclusions on such hospitals — categorized under ownership and premise of service — and creates subsequent comparisons with private hospitals and health schemes of the union government.
According to the announcement, while sufficient information exists on for-profit healthcare providers and institutions, there is an absence of reliable and structured information on their not-for-profit counterparts.
The not-for-profit hospital sector gives not only curative but also preventive healthcare,” the announcement explained, adding that it links healthcare with social reform, community engagement, and education.
The report recommends short-term and long-term policy interventions, such as formulating criteria to identify these hospitals, ranking them through a performance index, and promoting top hospitals for practising philanthropy, among others. It also emphasizes the need to utilize the expertise of these hospitals in managing human resources with restricted finance in remote regions.