Healthcare Spending

Q2 results preview: Lower input costs may aid pharma firms' margins

Analysts expect overall sales growth to be 10-11%

Reliance Retail Ventures plans expanding in diagnostic healthcare: Report

Company said to be considering acquiring majority stake in dedicated diagnostic services firm

Sanofi India introduces diabetes drug 'Soliqua' at Rs 1,850 per pen

Sanofi reported that in India, over 100 million individuals are grappling with type 2 diabetes and its associated complexities

Healthcare firm Abridge secures $150 mn to develop AI model for clinicians

Shiv Rao, CEO of Abridge and also a practicing cardiologist, said the company plans to use the fresh funding for hiring as well as acquiring and training purpose-built medical AI models

Bajaj Finserv arm acquires 100% stake in Vidal Healthcare Services

On the deal, Pune-based Bajaj Finserv said that it aims to expand its capabilities in the healthcare sector in India

Increase budget allocation on health to 2.5 pc of GDP: NATHEALTH

NATHEALTH-Healthcare Federation of India on Tuesday asked the government to increase budget allocation on health to 2.5 per cent of GDP while also calling for a restructuring of the healthcare GST framework. In its pre-Budget recommendations, NATHEALTH underlined the need for the government to embark on transformative measures that prioritise bolstering healthcare infrastructure and making strategic investments to overcome supply side constraints. "India's public healthcare spending remains low, at only around 1.6-1.8 per cent of GDP. These allocations are insufficient to tackle the magnitude of healthcare challenges," NATHEALTH said in a statement. It recommended "increasing budget allocation to 2.5 per cent of GDP to augment the social insurance schemes, boosting healthcare reforms and infrastructure and fast-tracking digital health services across India." On the need for rationalisation of GST for the healthcare sector, it said, "Although increased budget allocation has been a .

Govt improving citizens' health with holistic approach, campaigns: Shah

The Centre has taken up the mission to improve the health of citizens with a holistic approach by increasing the budget for it and launching various schemes and campaigns during the last one decade, Union Minister Amit Shah said here on Saturday. Addressing the 6th Advancements in Endourology Conference, Shah also thanked doctors and paramedical staff for working with dedication in the fight against COVID-19. "The Union as well as state governments and doctors across the country are working together with a holistic approach to improve the health of the people through the implementation of schemes prepared minutely during the last 10 years," he said. "The biggest work was to increase the health budget from Rs 33,000 crore to Rs 1.33 lakh crore. The government worked to improve the health infrastructure and increase human resources required for modern medical science," he added. Campaigns such as Swachh Bharat Yojana launched for prevention of diseases as well as initiatives to take

Reliance General Insurance launches new policy for overseas treatment

Reliance General Insurance Company Ltd (RGICL) on Saturday said it has launched a new policy to make global healthcare accessible to Indians. The policy, Reliance Health Global, provides comprehensive cover not only within the borders of India but across the world, RGICL said in a statement. The policy will cover expenses for overseas treatment, including critical illnesses like cancer and bypass surgery, it added. It also encompasses travel, accommodation, and end-to-end Visa and assistance services, addressing emergencies like lost passports or emergency cash, apart from sum-insured coverage of up to USD 1 million, the company said. The new product also offers benefits ranging from air ambulance to organ donor expenses with no restrictions on room rent. "As India globalises and a lot of Indians keep travelling abroad for work or leisure it's imperative to remove their pain of buying multiple policies separately for India and overseas," Reliance General Insurance CEO Rakesh Jain

Healthcare will improve with help of urban local bodies: Sudhansh Pant

The state of healthcare services will improve substantially with the participation of urban local bodies in delivering them, Union Health Secretary Sudhansh Pant said on Friday. Pant made the remark at a national urban health conclave on "developing a joint roadmap for strengthening health systems resilience" here. Ministry of Housing and Urban Affairs Secretary Manoj Joshi was also present. Addressing the gathering, the health secretary highlighted the pressing need for strengthening the primary and secondary healthcare network in urban areas. Citing the significant impact of urban local bodies (ULBs) in Maharashtra and Gujarat in delivering high-quality healthcare services, he said, "The state of healthcare services will improve substantially with the involvement and participation of ULBs in delivering them and at the same time it will make the healthcare services more affordable and accessible to urban dwellers." Commending the convergence of efforts between the Ministry of Heal

51% increase in companies offering OPD benefits compared to 2019: Survey

Among the companies that provide OPD benefits, 88 percent of participants are providing consultations with doctors, followed by dental benefits at 83% and diagnostics (such as X-rays, MRIs) at 80%

Healthcare Marketplace EHO Raises 1.5 Cr fund to Empower the Health-tech industry

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India will require additional 1.3 bn sq ft healthcare space by 2030: CBRE

India will require an additional 1.3 billion square feet of healthcare space by 2030 to reach the global hospital beds-to-population average, according to CBRE. In its report 'The Evolving Indian Healthcare Ecosystem: What It Means for the Real Estate Sector', CBRE mentioned that the total number of beds available in India was 1.9 million in 2019, while the total area of healthcare space was 0.9 billion square feet. The consultant has projected that 2.9 million beds will be required by 2030 to reach the global average. The total additional area required to reach the global bed-to-population average would be 1.3 billion square feet by 2030. "India has one of the lowest bed-to-population ratios in the world, which is indicative of the infrastructure gap as well as the vast growth potential of this segment," CBRE South Asia said in a statement. The demand for quality healthcare has accelerated in tier II and III cities, it noted. Anshuman Magazine, Chairman & CEO - India, South-East

Xi Jinping urges greater global coordination to aid pandemic recovery

China's President Xi Jinping urged greater coordination of global efforts to fight the pandemic, calling for a continued focus on people's health despite debate over the costs of Covid Zero policies

Govt's focus on affordable healthcare ensured savings for poor: PM Modi

Prime Minister Narendra Modi on Thursday said the government is working tirelessly to augment India's health infrastructure with a focus on ensuring good quality and affordable healthcare to citizens.

India's health budget still in need of improvement, shows data

There is the problem of the current infrastructure being able to absorb higher levels of funding

Health care Budget: Finance secy says it is responsibility of states

According to the budget proposals for FY23, the government is planning to spend about Rs 83,000 crore on healthcare, the same as it did in FY22

Best of BS Opinion: Some stability returns, view from the edge & more

Here are the best of Business Standard's opinion pieces for Friday

Rs 50,000-cr loan guarantee for health not enough in non-metros: Industry

Finance Minister Nirmala Sithar­aman said the government would provide 75 per cent coverage for new projects and 50 per cent for those in expansion mode in the non-metros

Govt plans Rs 50,000 cr programme to boost health infrastructure: Report

Programme will reportedly allow companies to access funds for ramping up hospital capacity or medical supplies with the government acting as a guarantor

Reimburse cost of PPE kits: Ombudsman

The ombudsman concluded the insured could not be faulted for the charges levied for PPE kits, and the insurer would have to reimburse this amount