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It says allow the dealers to compete
with each other and provide a fair
price to the hospitals based on the
terms and conditions of services and
payments. There is a need to work
towards bundled payment models
as used in many other countries to
better align incentives for hospitals
and their business models. Increase
government healthcare spending as a
percentage of GDP; India lags behind
By InnoHEALTH Editorial Team
“W
India’s strong position on heart
stents’ price regime triggered debate
and the price war snowballed into
tough positions and international
players gaped with a bewilderment.
Many institutions and professional
16
bodies flew into action and debated
price structures while the country’s
federal government unveiled its
world’s largest health coverage
scheme for millions, virtually
creating a colossal potential in the
health sector. If the government
extends healthcare services to its
1.25 billion population as part of
India’s Universal Health Coverage
(UHC) agenda, it will be a challenge
to devise ways to reduce catastrophic
Out Of Pocket (OOP) expenditure on
healthcare and ensure affordable
access to essential healthcare for the
entire population with the limited
resource envelope.
Amid ongoing trading tussle between
US and China, many apprehend that
ripple effect will also percolate down
in India as the latter is going ahead
with its price regimes and its moves
to bring down stent and knee implant
devices had raised many eyebrows.
A section of media has reported
that AdvaMed (Advanced Medical
Technology Association)in its briefing
memo for US Commerce Secretary
and US Trade Representative last
year had conveyed that “Made in
India” scheme has been used by parts
of the Indian government to justify
protectionist measures such as
import tariff hike sand preferential
market access policies.
e are moving into a
bold era, defined by
advanced medical
technologies and
artificial intelligence. But healthcare
will always remain a human business”.
For Dominic Asquith, British High
Commissioner to India that is the
crux of current situation, but a
razor sharp competitive business
in medical devices across the world
has a different narrative because
of market compulsions vis-a-vis
human business.
The study made a slew of
recommendations like cap trade
margins and not price to the dealers,
should be capped after detailed
evaluation of each medical device
segment and the role of trade. Trade
margins should be fixed differentially
for different categories of devices,
based on service requirements and
role of distributors.
The study also examined various
policies and regulations impacting
the industry and attempts to make
recommendations on the way
forward from the perspective of
different stakeholders.
Medical Devices in India Witness
Churning; Price War Escalates
Official sources say big schemes can
be ensured with the help of Health
Technology
Assessment
(HTA),
which is a widely used methodology
internationally for optimization of
resource allocation in health. HTA
is a method of evidence synthesis
that considers aspects pertaining
to clinical effectiveness, cost-
effectiveness, social, ethical and
legal implications of the use of
"health technology" for healthcare
intervention.
“The path to realizing healthcare
goals is complex, and various
fundamental issues and challenges
need to be addressed and solved
holistically. Long-term plans need
periodic policy and regulatory
interventions to ensure fair conduct
within the industry while providing
the support needed for profitable
and sustainable growth. These
activities will enable the medical
device industry to accelerate rapidly
and play a key role in making India
healthier and stronger.” Mr. Guljit
Singh, Executive Chairman of SKP
Business and Abby Pratt, Vice
President for Global Strategy and
Analysis at AdvaMed said in their
foreword of the study. AdvaMed
had partnered last year with SKP to
publish the study entitled – Medical
Device Industry in India –the
evolving landscape, opportunities
and challenges.
The 2014 World Bank Report
estimated the OOP spending on
healthcare in India to be as high
as 89%. India is the only country,
out of the major world economies,
where out-of-pocket expenses are
increasing, despite a concurrent
increase in public spending. This
effectively means that more people
are availing private healthcare
services due to rising incomes or are
forced to spend due to inadequate
public expenditure.
The Indian healthcare industry
was valued at over USD 100 billion
in 2016 and is expected to reach
more than USD175 billion by 2020,
resulting in a CAGR (Compound
Annual Growth Rate) of 20%. The
medical device industry is valued at
USD 6 billion. The medical device
industry was accorded the status of
an independent industry in 2014.
The medical device sector today
is clearly small and indicates low
penetration in the country.
advised to play down China’s global
dominance in various technological
sectors, known as “Made in China
2025”.Such developments indicate
that India should also dial down the
hype on “Made in India”.
The Economist newspaper recently
carried a write-up which quoted
China Digital times, a California based
website, that Chinese media had been
Volume 3 | Issue 4 | October-December 2018
Volume 3 | Issue 4 | October-December 2018
17
Testimonials from the InnoHEALTH October 2018 Conference
I BEGIN with a big thanks to you and your team. I have said
it before, but I say it again because your consistent ability to
deliver never ceases to amaze me, it truly is a pleasure to work
with you. Swecare, Sweden
CONGRATULATIONS ON successful completion of the
InnoHEALTH Conference 2018! It was a pleasure interacting
with you there. Indian Institute of Science, India
THANK YOU for organizing the meeting. HealthCubed
India Private Limited, IKP Eden, India
THIS IS a fantastic platform to talk about and discuss the
vision of healthcare in India. Clinivantage, India
CONGRATULATIONS ON the conclusion of a great
conference. IBM Watson Health, United Kingdom
2
Volume 4 | Issue 1 | January-March 2019
Volume 2 | Issue 4 | Oct-Dec 2017
IT WAS a delight to meet you all at the recent successful
InnoHEALTH 2018 conference. I thoroughly enjoyed the
meeting. Thank you again for the invitation and I ‘d be
pleased to help in the future if needed. National Association
of Primary Care, United Kingdom
WE ONCE again would like to thank you for reaching out to
us and sharing this opportunity to be the Knowledge partners
with your team for the InnoHEALTH 18. Intellecap Advisory
Services Pvt. Ltd, India
IT WAS indeed a great pleasure to be part of this. Would like
to wholeheartedly congratulate the entire team for the great
event. Wish you guys the very best for all your future events.
Intellecap Advisory Services Pvt. Ltd, India