Budget 2019: Healthcare Industry Outlook

Healthcare Budget 2019

NewsBarons connects with leading healthcare experts to share their views on the announced Budget 2019

Accessible and Affordable medical healthcare treatment is taking center stage

Nilesh Jain, Clinivantage Healthcare Technologies.

The central government’s role in the healthcare sector of the country has increased drastically with Budget 2019 and so will the pressure on the transparency of care and the financing of the same. The thought of accessible & affordable medical healthcare treatment is taking center stage, along with this it will be very critical to upgrade the technology infrastructure and adapt new technologies to scale reach and make this program a huge success. Adoption of new technology, AI and transparency controls via deployment of unified cloud system will help speed the success story of Ayushman Bharat.

Budget 2019 has continued commitment on the free health coverage under the Ayushman Bharat scheme

Anurag Yadav, Parkway Pantai

Interim Budget 2019 has continued commitment on the free health coverage to being continued for about 50 crore Indians under the Ayushman Bharat scheme. It was also mentioned in the budget that the prices of medicines have come down with the control of drugs, stents, and knee implant prices. The government reiterated its vision of creating a healthy India, with distress-free and comprehensive wellness system for all”

Under the government’s India 2030 vision, the ninth and tenth dimensions focus will be on healthy India and a comprehensive wellness system, respectively. It remains to be seen how this will help the healthcare industry to grow and the overall development of health eco system.

Ayushman Bharat remained the highlight Budget 2019

Piyush Jain, ImpactGuru

The ambitious Ayushman Bharat remained the highlight of the healthcare initiatives of Interim Budget 2019. The harsh reality is India has a significant healthcare funding problem. The country witnesses 700,000 new cancer cases and 100,000 new transplant cases each year. Long-term illnesses such as cancer drain finances of not just those from below-poverty-line backgrounds but also middle class patients.

Though 10 lakh patients have been treated so far under the scheme, a lot more is required to ensure complete health coverage of India’s 1.3 billion plus population. How fast can the implementation be? How will the Government deal with the fact, even Rs. 5 lakhs coverage is insufficient given the increased cost of secondary and tertiary healthcare in India with costs rising at 20% CAGR. These questions continue to be of critical importance as the development of a nation is ultimately determined by health of its people.

Budget balanced welfare and growth of the country

Nikhil Nanda, JHS Svendgaard Laboratories Ltd.

Finance Minister has done good job by balancing welfare and growth of the country. Increase in disposable incomes in the hands of middle class and rural India is good boost for FMCG companies like us. Any saving in the taxes are generally spent on kids, which is where our focus is and this raising of income tax exemption limit and increasing standard deduction will go a long way to spur the consumption and spending power of the people.

Budget 2019 gives more focus on affordable healthcare for all

Shanthini Arunthavanathan, Westminster Healthcare

The 2019-20 union budget comes as a cheer to many due to the government’s attempt of creating a mass -budget this year with special focus on rural health. Ayushman Bharat Scheme that was launched last year for providing medical treatment to around 50 crore people have so far treated 10 lakh people who could save nearly Rs 3,000 crore. This is a great achievement by the country’s healthcare and roping in private hospitals to the scheme as proposed by the government last year will certainly provide more teeth to it. However, more allocation of fund for appropriate execution of the scheme was a necessity and was expected. Apart from announcing about 14 new AIIMS since 2014, the announcement regarding setting up of 22nd All India Institute of Medical Sciences (AIIMS) in Haryana is a welcome move towards enhancing advanced medical research in India, producing a greater number of qualified medical professionals and expanding opportunities for the aspiring medical students of the country. The government’s vision towards having a distress free healthcare and a functional, comprehensive healthcare system by 2030 are praiseworthy. Availability of drugs at a subsidised price at Jan Aushadhi Kendras and implementation of a price cap on drugs have made medicine affordable for all. With five lakh villages being declared open-defecation free along with achievement of over 98% rural sanitation coverage, there will be a certain improvement in both rural and urban health condition.

Budget has taken into account the need for healthcare services for a growing nation

Deepak Sahni, Healthians

The interim budget has taken into account the mammoth need for healthcare services for a growing nation. I commend the government’s effort to make healthcare affordable and accessible till the last mile.

Further, grants proposed for the small and medium enterprises are reassuring that the government is determined to encourage the startup ecosystem in the country.

However, the budget was silent on critical issues being faced by the industry such as angel tax, an incorporation of which would have helped the startup ecosystem at large.