Post-Budget Reaction on the Healthcare industry

Ayushman Bharat coverage for grassroots healthcare workers and the integration of the U-WIN platform are two further benefits that promote a healthier society: FM Nirmala Sitharaman
This budget not only clearly advances our goals but also shows how important technology is to improving healthcare and education

India

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New Delhi, February 01, 2024:

Quote on the Announcements made by Finance Minister Nirmala Sitharaman on the Healthcare industry

Quote by Vincent Anthony D’souza, Co-founder and CTO in MadVR Solutions :“The government’s goal of expanding medical colleges and making use of the hospital infrastructure already in place is in perfect harmony with our objective of using virtual reality technology to transform surgical education. The focus on preventative healthcare, in particular the campaign to vaccinate young girls against cervical cancer, is consistent with our overarching objective of enhancing patient outcomes and advancing medical education. The all-encompassing strategy for mother and child health care, in addition to the accelerated modernization of anganwadi centres, aligns with our dedication to human-centered design in medical education. Ayushman Bharat coverage for grassroots healthcare workers and the integration of the U-WIN platform are two further benefits that promote a healthier society. This budget not only clearly advances our goals but also shows how important technology is to improving healthcare and education, which creates an environment that is ideal for our cutting-edge virtual reality solutions.”

Quote by Hariharan Subramanian, Managing Director, Siemens Healthcare Private Limited.

“It is imperative to strengthen healthcare infrastructure in India to manage the growing demand. In its journey of catering to the present and being prepared for future needs, the budget emphasizes on better access to healthcare.

In the fiscal year 2024-25 budget, the government revealed an ambitious plan for strengthening the healthcare sector in India. The emphasis on establishing medical colleges within existing hospital infrastructures is game-changing, resulting in a significant rise of healthcare professionals while expanding and enhancing healthcare accessibility across the country.

A notable step was taken towards cervical cancer awareness, encouraging vaccination for young girls, further augmenting our efforts in enhancing the cancer care continuum, and closing the care gap, thereby creating a future without fear of cancer. Extending healthcare coverage under Ayushman Bharat is an inclusive strategy that ensures quality healthcare for everyone, everywhere.

The budget also embraces new technology and promotes digital transformation, setting the path for economic potential and cost-effective, high-quality healthcare services across India. Fostering growth in the MedTech sector while emphasizing on achieving its vision of Atmanirbhar Bharat.

Overall, this budget aims to empower the healthcare sector for a healthier, stronger India.”

Quote by Dr Ashutosh Raghuvanshi, MD and CEO, Fortis Healthcare & President, NATHEALTH: The 2024 budget takes a forward-looking approach to healthcare. Establishing a committee to expand medical colleges within existing hospital infrastructure addresses the shortage of healthcare professionals and strengthens medical education. Additionally, the initiative to combat cervical cancer through HPV vaccination for girls aged 9-14 in six states is proactive in disease prevention. Extending Ayushman Bharat coverage to Anganwadi and Asha workers recognises their vital role in community health, and consolidating maternal and child healthcare schemes emphasises holistic well-being. Furthermore, the introduction of the U-Win platform for immunisation management, combined with intensified efforts like Mission Indradhanush, demonstrates a technology-driven approach to vaccination.

However, it’s worth mentioning that some long-standing demands, like GST rationalisation and increased investments in the healthcare sector, needs to be addressed. We anticipate their consideration in the upcoming comprehensive budget.

Ms. Sakshi Bakshi, CEO of EPIA (Healthcare) : We had bucketed our aspirations prior to the budget into several categories, and it is heartening to see that the government checked at least some of them. The FM’s commitment to women’s health shines through the extension of Ayushman Bharat and the consolidation of maternal and child healthcare schemes. The surge in women’s enrolment in STEM courses is a positive leap, and the expanded ‘Lakhpati Didi’ initiative showcases a commitment to economic empowerment of women at grassroots level. Importantly, the allocation of a 1-lakh crore corpus for interest-free long-term financing demonstrates a dedication to fostering private sector R&D. This strategic move has the potential to open doors for women, allowing them to assume pivotal roles in shaping the future of technology, science, and engineering.

Joseph Pasangha, Group COO, SPARSH Group of Hospitals, Banglore‘The government’s commitment to implementing economic policies that facilitate high-quality and affordable medical care for all is crucial for fostering investments in healthcare.

The inclusion of cervical cancer vaccination for girls under 15 in the Universal Immunization Programme would be highly advantageous if actioned. Efforts to address Foot & Mouth disease and the consolidation of various schemes into a comprehensive program for maternal and child healthcare will enhance synergy, leading to improved implementation.

However, we anticipate a comprehensive allocation, specifically designated for healthcare in the upcoming July budget. This allocation should concentrate on establishing efficient processes for selecting, implementing, and monitoring Public-Private Partnerships (PPPs) to meet the current need. Well-defined guidelines and a cooperative approach between public and private entities are essential for nurturing successful partnerships capable of addressing critical healthcare needs nationwide’.

Dr Kshitiz Murdia – CEO & Co-Founder of Indira IVF on the healthcare segment:“The Interim Budget 2024-25 presented by Finance Minister, Nirmala Sitharaman, has touched upon an important segment of the Indian population in the healthcare outlay – the mother and child. The latest National Family Health Survey-V (NFHS-V) of 2019-21 has called attention to numerous parameters that have reached concerning levels. This includes the total fertility rate (or children per woman) that is at an alarming replacement level of 2.0. Moreover, infant and child mortality rates (per 1,000 live births), delivery care, child vaccinations and vitamin A supplementation, and treatment of childhood diseases in children under age 5 years are yet to reach cut-off levels recommended by World Health Organisation and other global healthcare institutions. The move to expedite the action through Saksham Aganwadi for the benefit of mother and child is an imperative step to improve the health parameters of rural population.

The Finance Minister has also outlined prudent backward integrations and forward progression to support this. The establishment of medical colleges in existing hospitals will work towards adding more medical talent in the country, and bridge the gap of doctor to patient ratio. A natural progression to childbirth is the availability of proper nutrition for development and immunisation. These have been effectively addressed by advancing Poshan 2.0 programme and the U-WIN platform.

Cervical cancer is the leading cause of cancer among women in India, and its vaccination is recommended before the girl child attains puberty to maximise its benefits. Getting protected against the disease through effective immunisation and enabling early detection are two crucial steps that can help us save close to 1,25,000 women every year.

One of the applauding factors was establishing a 1 lakh crore corpus for loans over a period of fifty years which would be interest free. This will encourage innovation and research in the area of medical treatment as well, inciting better clinical outcomes, increasing treatment possibilities in India, and encouraging medical tourism.

”Dr Jagprag Singh Gujral, SVP MDO/ Head of Emerging Markets, Varian (a Siemens Healthineers Company) and Group CEO- CTSI: “We are happy to see the budget’s renewed focus on preventive initiatives for Cancer such as Cervical cancer the FM alluded to. Talent pool enhancement through the announcement for Medical Colleges and extension of the Ayushmann Bharat scheme are welcome positives for the growing middle class youth and the healthcare industry. The interim budget from a healthcare announcement’s perspective is in line with the optimism in India’s growth story.”

Dhaval Radia, Chief Financial Officer (India), ZEISS Group: “We congratulate the government in presenting a forward-looking budget for the fiscal year 2024-25. It is a budget of continuity and trust.

The extension of Ayushman Bharat facilities to Anganwadi and ASHA workers is a crucial step in revolutionizing the accessibility and affordability of healthcare services in rural India. This move is expected to bring an estimated 10 million additional people under the Health Insurance net of Ayushman Bharat, including ASHA and Anganwadi workers and their families. These health ambassadors will not only have access to quality healthcare services for themselves and their loved ones but will also play an instrumental role in promoting it among millions of rural Indians they work closely with. It is a significant step in the right direction for healthcare, and it will have a far-reaching impact on the overall well-being of the population.

Further, the government’s announcement to open hospitals in all districts is a significant capital expenditure commitment aimed at improving accessibility and affordability of healthcare facilities across India. We are encouraged by this step that will contribute to our shared mission of providing high-quality ophthalmology and micro-surgery equipment throughout India. These medical equipment and lenses will enable millions of life-changing cataract and other critical surgeries in all parts of India.

”Dr Rama Joshi , Principal Director , Department of Gynae Oncology , Fortis Hospital: HPV vaccine aids in the primary prevention of cervical cancer which prevents the risk of HPV infection which is the cause of cervical cancers. It is most effective when given to adolescent between 9 to 14 years of age. Women between 27 to 45 years of age can get the HPV Vaccine, however getting it administered at these ages, reduces the effectiveness of the vaccine and should be taken after proper consultation with a gynecologist. HPV Vaccines have a success rate of 88%. In India, we have an indigenous vaccine for cervical cancer, manufactured by Serum Institute Of India priced at Rs 2200/-

According to Dr Sunny Jain, Sr Consultant & HOD – Oncology , Marengo Asia Hospitals, Faridabad, “I am of the firm view that cervical cancer vaccines should ideally be given before the first unprotected intercourse because females usually get infected by the Human papillomavirus (HPV) during act.The cervical cancer vaccine prevents and guards the women against the HPV virus-induced carcinoma cervix. We are happy that the government is making strong efforts towards cancer prevention and has encouraged cervical cancer vaccination for girls between 9-14 years of age.”