Indian healthcare industry is growing at a faster rate with many paradigm changes. Pacing with the growth, the demand for healthcare services has grown at a much faster rate not only quantitatively , but also in a transition phase from a seller’s market to a buyer’s market, where quality consciousness is increasing, and people have multiple players to choose from if they have the spending power.
In this context, there are many challenges which are put forth directly and indirectly in front of the hospital ownership and administration. Lets take a look at it .
- Majority of the customers for healthcare delivery organizations are from middle and upper middle socioeconomic class, they are cost conscious and quality conscious. The cyberchondriac generation rely on a good web research and information from other sources before actually choosing the provider. ( Healthcare and education being the top prioritization )
- To meet with the demands of customers , customer satisfaction and creating a trusted customer base is not organized
Mitigation : Right use of information , periodical analysis of information and strategic planning and marketing of services and regular surveillance with corrective action
- Limited resources, a straight line graph in terms of revenues and reluctance to bring in sustainable model and partnerships and take risks.
- Slow growth of insurance market to cover healthcare costs
- Reluctance in investing in information system , even if information system is incorporated, lack of time and resource to use the system effectively and efficiently
- Lack of awareness about the changing spheres of healthcare practice and more focus on running the show at the same pace as it is running.
When we consider the above factors, we clearly see how the catch 22 situation for the hospitals are restricting them from achieving better and taking themselves the next level of organizational success and make the industry profitable as other industries. At the same time, it becomes the sole responsibility of the management and owners of the hospitals to make strategy which makes the more sustainable and higher revenue generating healthcare institutions.
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Tags: challenges in healthcare, hospitals, Information systems