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Last updated: 09 Sep, 2019  

Amit.Gupta.9.Thmb.jpg Indian health & medical industry to hit $9 billion by 2020: eExpedise Group CEO

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SME Times News Bureau | 09 Sep, 2019

Indian Health & Medical Industry is projected to grow at a CAGR of 200% by 2020, hitting $9 billion by 2020, as per the report published approx, said Amit Sharma, Group CEO- eExpedise Group, in an exclusive interview with SME Times.

Excerpts of the interview...

Please tell our readers about and its entrepreneurial journey during last two years in India and internationally.
We have a collective experience of over 30+ years in Healthcare and Health Insurance domain serving both domestic and International market. We have closely worked in this segment and has understood the challenges faced by the end consumer during the benefit utilisation process and availing healthcare services.

In the last decades, Healthcare industry has seen Innovative & Technological advancement in clinical aspect however very less has been done for customer service and customer experience. The expectation of Consumers are changing rapidly so is the demand and supply process across the industry and Healthcare is no different thus the dis-satisfaction level is increasing.

Thus, we started the eExpedise with an aim to bring transparency in Healthcare delivery system through innovation and Technology and working towards the same. In less than three years of operations the company has many innovations and patents registered under its name.

What are the Health & Medical treatment you offer for international and domestic customers?
Since the organisation was formed to with a view to Improve and Enhance the Service Delivery process, they have building an In-house system which manages the complete life cycle of the patient and all the 4 Stages of Medical Treatment.

· Query Stage

· Pre-Hospitalisation Stage

· Hospitalisation Stage

· Post Hospitalisation Stage

Each stage is being managed by professionals and through the technology ensuring minimal scope of error and defect.

· The company get the service fee from Insurance companies for managing the Patient Services and offering Cashless Network to their Policy Holders.

· The Company also get the Marketing Fee from Network Hospitals.

You have a tie-up over 5000+ healthcare service providers globally... please elaborate.
For this eExpedise has signed a contract with International insurance companies and work on promoting Indian Healthcare Industry amongst the NRI and Indian Insured with them.

Since India has over 500+ Accredited Healthcare providers (JCI & NABH) and uses world class technologies at par with the western world, Indian Doctors are known for its excellence across the globe, one of the studies reveals that over 10% of the doctors practicing in UK and US are Indian.

Besides the availability of advanced medical technology and modern hospitals, most of the medical care facilities and hospitals are staffed by experienced and Healthcare Professionals, who are proficient in the latest medical treatment methods. Indian offers best & quality treatment at half of the price, thus eExpedise has bargain with Insurance companies and covers all the expenses of the member who agrees to travel to home country for Medical treatment.

Please share your views on growing medical tourism in India.
Indian Health & Medical Industry was estimated worth US$3 billion in 2015. It is projected to grow at a CAGR of 200% by 2020, hitting $9 billion by 2020, as per the report published approx. 5L patients travelled to India in 2017 for availing Medical Treatment and the numbers are increasing rapidly.    

As an expert, please tell about the right of patients in the growing business of healthcare.
Another biggest concern and fear the healthcare brands possess is the availability of internet. They know, a single mistake would spread like fire and will be all over social media and press and instead of having 10 referrals, they would have to lose 20 potential customers. So in order to spare themselves from the money horror, healthcare brands are forced to serve what each customer asks for.

Over and above the ground rights of a patient – like knowing the name of the doctor, jobs of his caregivers, respectful care at the hospital, confidentiality and to make informed decisions; the increase of hospitals in every nook and corner has powered the patients with uncountable rights that are mostly over-used. For example, a patient today has the option to participate in research studies and has the right to complete information and may refuse to participate in the program. Not only this, a patient who chooses to participate has the right to stop at any time too and any refusal to participate in a research program will not affect the patient’s access to care.

In short gone are the days, when we blindly trusted the doctors and without a second question or multiple tests, just went by what was advised to us. A doctor who gave less medicines, conducted no tests and judged the disease by simple examination of the patient is no longer a good one. Today, everything is vice-versa and Google is the new doctor where we still remain the kings undoubtedly! 

We would also like to know from you the current scenario of the Indian healthcare industry.
Indian healthcare industry is focusing on clinical outcome through innovation with technology automation to bring in the much-needed patient convenience. This is because patients too, and primarily the medical tourism segment, prefer the hospitals that are able to provide complete services under one roof.

Medical tourists usually decide to travel when they can achieve savings of more than 30 per cent of the cost they have to bear in their home country. For instance, as per information published by OECD, patients in the US save between 30 per cent and 50 per cent of the cost of treatment for common ailments such as heart issues, if they travel to Asia or Latin America for the same treatment.

What are the future plans of
Currently working with 25 Insurance companies and by 2020 be present in over 50 countries and work with all Big International companies and Government Agencies.

·To become the largest global provider of Technology and Healthcare Service Provider under one umbrella.

In short span of time we have establish our self as one of the leading Healthcare company across the globe. While we continue to focus and expand our self in Healthcare Vertical our focus will also be to strengthening our wings in wellness care and Ayurveda Industry.

In next 18 months, we plan to expand our self in additional 25 countries and establish our Medical centres & Wellness Centres in various countries and become a global player.

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