The healthcare industry has been growing steadily across the world over the last few decades particularly in India, where the growth is in double digits – at 12% annually. By the end of 2020, the Indian healthcare industry is expected to be worth a staggering UDS 23 billion. Apparently, it has already acquired the size many of the core sector industries and would surge ahead of many such industries in the years ahead. That’s because the healthcare industry in India is projected to continue growing at a compounded annual growth rate (CAGR) of 12% or more in the foreseeable future. This is why an MBA in healthcare management in India is such a lucrative career path today.
Healthcare has a business side to it
Like any other industry, healthcare too has a business side to it, which requires skills other than treating patients and is also very important in how well the healthcare setup is managed. As a business, it is as important for a healthcare centre like a hospital or a nursing home to grow as it is to treat patients satisfactorily. Due to obvious emotional reasons the business side of a healthcare centre is often overlooked by everyone except those who run the organization. An MBA in hospital administration in Delhi will easily take charge of this aspect of a healthcare centre and manage it efficiently.
Doctors must focus on their core functions
The role of a doctor is undoubtedly the most critical in any healthcare setup and more than anything else, this is what determines the success or failure of the hospital or nursing home. It is not for doctors to get embroiled in managing those functions of a hospital that have nothing to do with the health of a patient. For instance, hospital inventory, accounts, taxes, insurance of patients and many other non-medical functions are substantial in scope and need professional attention. An MBA in healthcare management in India is just the kind of qualification that deals with these non-medical functions of hospitals. In this way, it opens up excellent opportunities for a stable and a rewarding career for youngsters in the healthcare sector.