India’s healthcare industry is currently worth Rs 73,000 crore which is roughly 4 percent of theGDP. The industry is expected to grow at the rate of 13 percent for the next six years whichamounts to an addition of Rs 9,000 crores each year.
The national average of proportion of households in the middle and higher middle incomegroup has increased from 14% in 1990 to 20 % in 1999.
The population to bed ratio in India is 1 bed per 1000, in relation to the WHO norm of 1 bed per 300.
In India, there exists space for 75000 to 100000 hospital beds.
Private insurance will drive the healthcare revenues. Considering the rising middle and higher middle income group we get a conservative estimate of 200 million insurable lives.
Over the last five years, there has been an attitudinal change amongst a section of Indianswho are spending more on healthcare.
THE SERVICE MARKETING TRIANGLE:
Here, the hospital is thecompany that dreams up an idea of service offering (treatment), which willsatisfy the customer’s (patient’s)expectations (of getting cured).
The patient who seeks to get cured is the customer for the hospital as he is theone who avails the service and pays for it.