Bengaluru, 30 July 2024:
Delivering the keynote address at First edition of the CII Karnataka Healthcare Conclave held in Bengaluru today, Dr B S Ajai Kumar, Founder and Executive Chairman, HealthCare Global Enterprises said, “While quality care is paramount, we also need to ensure cost-effective solutions to enhance accessibility of healthcare services to tier 2 and 3 cities, thereby bridging the urban-rural divide. It is also imperative to make the most of advanced technology for providing precise, specialized, outcome-focused, and personalized health care services and solutions,”.
“A culture of research and innovation, as also accurate data collection and holistic analytics, should also be institutionalized to help the sector keep pace with emergent health-related challenges and disruptive events. Most importantly, the government should act as a monitoring agency to evaluate the performance of private sector hospitals. It should also adopt a universal healthcare model based on cross subsidy principles, which alone will help address the glaring disparities. Given such unflinching commitment, India will well and truly become an advanced nation on the healthcare front, at par or even better than the best of healthcare providers from the West,” Dr Ajai Kumar added.
Mr N Venu, Chairman, CII Karnataka State Council 2024-25 & MD & CEO – India & South Asia, Hitachi Energy stated, “Transitioning to a green ecosystem along the healthcare value chain, including being powered by reliable renewables and implementation of net-zero plans, is crucial for sustainable progress of the sector. Embracing innovative sustainable healthcare practices is essential for driving value creation and fostering resilience,”.
This vision aligns with the CII Karnataka theme of Globally Competitive Karnataka – Partnerships for Sustainable and Inclusive Growth, emphasizing the importance of collaborative efforts to drive economic development, environmental sustainability, and social inclusivity. “By prioritizing green initiatives and innovative practices, we can build a resilient and competitive Karnataka that stands out on the global stage,” he said.
Dr Vijayabaskaran Sundararaju, Co-Convenor, CII Karnataka Hospitality & Healthcare Taskforce 2024-25 & Executive Director, Kauvery Hospitals highlighted, “Healthcare is one of the fastest growing sectors globally, expected to grow from $8,348.44 billion in 2023 to $8,963.64 billion in 2024 at a CAGR of 7.4%,”.
“India’s unique healthcare system, comprising both public and private sectors, serves 1.4 billion people and is a major revenue and employment generator, with Karnataka’s dynamic healthcare space offering abundant opportunities through multiple innovations and technological interventions,” he pointed out.
Mr Gaurav Hegde, Convenor CII Karnataka Hospitality & Healthcare Taskforce 2024 -25 & Managing Director, GR Stone Specialties Pvt Ltd said, “The key objective of the CII Karnataka Healthcare Conclave 2024 is to showcase the opportunities in the healthcare and allied sectors of Karnataka. The conclave aims to provide an in-depth look at the industry’s opportunities, potential, and challenges, setting the stage for the development of these interconnected sectors and achieving stronger and deeper industry synergies,”.
Mr Venkat Inumella, Partner, McKinsey & Company highlighted that India has seen meaningful progress in healthcare over the past 15 years, driven by improvements across access, affordability, and awareness. This has led to rising life expectancy and decreasing disease incidence, though much more remains to be done.
“To build on these gains and deliver high quality, affordable healthcare to the underserved regions of the country must be the focus for the industry over the coming decade. A leapfrogging mindset can help accelerate this progress through technology and AI, innovative care and business models, and an obsession over quality,” Mr Venkat stressed on.
The conference deliberated and discussed Reimagining Better Healthcare – Precision, Predictive, Affordable & Sustainable, Transformation through Technology Interventions, Future of Healthcare – Better Infrastructure for Efficient Healthcare, New Age Diagnostics in Healthcare and Scope of Skilling & Nursing in Healthcare.
Leading industries and institutions including; Kauvery Hospitals, AAF India Pvt Limited, Apollo Hospitals, Phasors technologies Pvt ltd (MEDIBUDDY), Seimens Healthineers, Lifebridge Senior Care Private Limited and Private Hospitals and Nursing Homes Association(PHANA); shared and showcased their insights which was attended by over 100 industry CXO’s and stakeholders across sectors.
