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So how does private entrepreneurship thrive in such a regulated industry? R. K. Bhatia, Joint Director (Pharma division), FICCI, commented to B&E, “This needs considerable support through both private-public partnerships. Currently, the country’s insurance base is limited, but with an increase in government budget on healthcare spending on private-public partnerships, the insurance base will increase gradually.” Adds Apollo’s Thakur, “Public-private partnership is (just) one engine of growth; however, tertiary care will continue to drive the private healthcare space.” Undoubtedly, the investment power available with the government has to be combined with the professional expertise and competence available with the private sector, at the same time, not forgetting the business objective that drives private participation.

But behind all this lies the acerbic Krypton dilemma that the very reason why the private sector finds it so lucrative and why India still languishes at a scurrilous 126th position on the UNDP Human Development Index 2006 is because the Indian government has never been committed towards development of the disadvantaged majority. Providing quality healthcare in reality, was primarily the duty of our governments; a duty that they horribly failed to do. What remains now is simply a hope that one day, like what happened in India’s economic growth story, those are private entrepreneurs that transform the swampy landscape of this Krypton ridden India to spawn out millions of superheroes; one day, perhaps, even a billion!

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative