Icra begins healthcare rating

Icra has started rating the Rs 60,000 crore healthcare industry, which is expected to provide information both to the users as well as the insurance industry.

On the anvil, Icra also proposes to grade educational establishments in terms of professional institutes.

Icra executive director Amul Gugna said the rating agency is looking at the Indian healthcare industry in a big way.

"Quite a few hospitals and healthcare providers have been rated below H2 minus (-)", he added. H2 indicates that the institution has resources and processes that can deliver high quality of care.

ICRA has completed grading seven to eight hospitals in Calcutta, New Delhi, Pune and Bangalore. These include CMC Valor (rated H1) and Rajebahadur Hospital & Research Centre (rated H2-).

ICRA's healthcare grading methodology evaluates the capability of the institution concerned to deliver quality care from the user's (patient's) perspective.

None of the reputed hospitals have come to Icra for assessment, said Gugna, adding: "Middle market hospitals are more interested because their names are not as yet recognised or known."

A healthcare institution with a higher grading would have a relatively better care infrastructure and processes.