The initial session of the second edition of the Economic Times Healthcare Leaders Summit 2022 was titled ‘Building back better: Reset to sustainable and resilient recovery post-pandemic.’ During the discussion, the panellists unanimously agreed on the importance of affordable healthcare, the lack of which results in a decline in service quality, and the increased burden to bridge this gap results in the diversion of funds needed for technological advancements, further dampening quality and affordability.
Experts presented during the initial session, ‘Building Back Better: Resetting for Sustainable and Resilient Recovery Post-Pandemic,’ led by Vikas Dandekar, Editor, ET Prime (Health and Pharma). Prof Dr Rajesh Gokhale, Secretary, Department of Biotechnology, Ministry of Science and Technology, Government of India, Dr Harsh Mahajan, Founder, Mahajan Imaging, Prof K Srinath Reddy, President, PHFI, and Upasana Arora, CEO & Director, Yashoda Super Speciality Hospitals were the panellists for the discussion..
Dr. Reddy noted that the healthcare sector has been proactive in its approach, saying, we have seen this happening inside the form of a strong emphasis on strengthening health infrastructure, boosting electronic health records, and increasing investment in better surveillance systems. Even so, it is a response acknowledgement of a fault lines in the healthcare system in addition to the supportive social processes that has aided us to adopt a few corrective measures.
The panellists unanimously agreed on the importance of affordable healthcare, the lack of which results in a decline in service quality, and the increased burden to bridge this gap results in funds being diverted from necessary technological advancements, further dampening quality and affordable care.
Speaking on the problem of hospital overcharging during the COVID-induced lockdown, Arora advocated for the provision of quality yet inexpensive healthcare services while allowing hospitals to keep earnings. “In order to preserve their excellence, hospitals must invest money.
“Hospitals, but at the other hand, should not be driven by profit since their deal with people.
There must be a balance between affordability and excellent care, as well as some profit “Arora said.
Dr. Mahajan then praised India’s healthcare system for its efforts to reduce the cost of high-quality healthcare services, saying, “Today, India continues to give high-quality healthcare at the lowest possible cost, and I do not compare it to the West. We are 20 to 25% less expensive than Bangladesh, Nepal, Sri Lanka, and Pakistan.”
Experts agree that targeted medicines and inexpensive healthcare are urgently needed.
