Rise in ageing population fuels home healthcare sector growth in India

10 October 2018 info@caringelders.com Leave a comment healthcare resources

An article published in India Today highlighting the various pointers about Home Health care in India:

  • Home healthcare sector expected to be a $6 billion market by 2020.
  • Patients save 20-50% cost in home healthcare.
  • Healthcare sector asks insurance companies to cover home care in policies.

 

Rising ageing population, high hospitalisation bills and need for personal medical care costs is fueling rapid growth in home health care services sector in India.

 

“The home healthcare sector in India is burgeoning and is expected to reach $6 billion (Rs 40,000 crore) by 2020 from a $2 billion market opportunity in 2014,” Nightingales Home Health Services Chief Executive Officer Narasimha Jayakumar told IANS.

 

Chairman of Medica Group of Hospitals, Alok Roy, recently launched home care services. He said that the home healthcare services market is expected to double in the coming years as India is witnessing a tremendous rise in the ageing population.

Roy said patients end up saving 20-50 percent cost as compared to regular hospital treatment depending upon the services taken.

 

“Homecare as a concept is gaining ground in India and the reasons are clinical and societal… it definitely works out cheaper to the extent of 30 per cent as compared to the hospital cost as there is no infrastructure and other overheads. This apart, the cost of a family member needing to stay off from work is an additional saving,” Apollo Homecare CEO Mahesh Joshi told IANS.

 

Homecare service providers also said improved affordability, need for a personalized care for chronic and lifestyle-based diseases, changes in the traditional family system and rise of nuclear families are contributory factors in market growth.

 

While home healthcare services have several “clear advantages” for a section of patients over treatment in a traditional hospital, choosing in-home care for one’s elderly parents or other loved ones is “not without risk”, People for Better Treatment President Kunal Saha said.

 

“In a developing country like India, where corruption has riddled through virtually all aspects of public services, with hardly any checks and balances even for the qualified doctors, the new field of home healthcare services is likely to attract unscrupulous people in this lucrative business, Saha said.

 

This could pose “serious threats to the lives of the suffering elderly citizens who may become more vulnerable in the secrecy of individualized medical care by unqualified caregivers”, Saha told IANS in an e-mailed response.

 

Saha, HIV/AIDS Specialist, Adjunct Professor and Consultant, Columbus State Community College, Ohio, said the Indian government should lay down a “strict and transparent mechanism and licensing system” to regulate the businesses of home health services before they are allowed to operate.

 

In the US and other developed countries, more and more people have been opting for home healthcare services for elderly and debilitated patients for more than two decades.

 

 

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