Budget 2016 Expectations: India’s healthcare industry has boomed with the emergence of e-reports, appointment booking portals, telemedicine, etc.; not only in terms of economy but also in terms of employment opportunities and expansion to underserved areas. With the technology playing a pivotal role, the future of healthcare is going to be information-rich and patient-centric.
Besides this, the asymmetry in the demand-supply game will make the sector an attractive one for private equity investments. With a rise in the number of start-ups entering the health sector, coupled with IT there is a greater scope of creativity and innovation in the sector.
· In Budget 2016, the Government should provide healthcare infrastructure status that would help funding for specialty clinics.
· Make medical visas for foreign patients easier.
· Raise income tax-exempt medical reimbursements level from Rs 15000 to Rs 1,00,000
· Since there is a major increase in life style diseases such as diabetes, cardio vascular diseases etc. the wellness programs should also be classified for medical reimbursements.
· Encourage e-health with tax exemption so that ecommerce healthcare companies can reach rural markets.
The government should also work towards exempting healthcare services and products from Goods and Services Tax (GST), especially on preventive health check-upand wellness programs.
By Sridharan Sivan, Founder, S10 Healthcare Solutions