Government Urged To Invest Heavily In Healthcare Sector To Achieve Universal Health Coverage By 2030
As the Union Budget approaches, the healthcare sector has come out strong with critical demands for reforms and increased investment to achieve Universal Health Coverage (UHC) by 2030.
Leaders from major healthcare institutions are calling for comprehensive reforms and substantial investments to ensure equitable and affordable healthcare for all. Despite a decrease in out-of-pocket healthcare expenditure over the years, achieving UHC remains a difficult task, with public healthcare spending still far from the goal of 3% set by 2030.
The sector is seeking significant rises in public healthcare spending, innovative funding models, and policies that ensure access to quality care particularly in rural areas. Funding remains a critical barrier to scaling healthcare infrastructure, with industry experts recommending innovative mechanisms such as "Fund of Funds" and public-private partnership (PPP) models to drive innovation.
Innovation and technological advancements are seen as key drivers for the sector's growth. Early detection programs for non-communicable diseases are among top priorities, as they can reduce long-term healthcare costs and improve patient outcomes. The rise in medical value travel is also critical, with current policies failing to support this burgeoning sector.
Industry experts argue that investing in mental health is crucial not only for enhancing productivity but also enhancing overall happiness and reducing losses of over $14 Billion (INR 1,19,000 crores) annually. Despite the modest allocation of ₹90,659 crore to the healthcare sector in the current budget, there remains a pressing need for increased funding and awareness.
The reclassification of hospitals as infrastructure investments is also seen as vital for attracting substantial private sector participation essential for modernizing India's healthcare sector. Insurance reforms are another critical demand, with industry experts calling for mandatory health insurance for all citizens to ensure that healthcare becomes more equitable.
As the government prepares for the Union Budget, the healthcare sector is urging decisive action to address systemic challenges and establish a sustainable and inclusive healthcare system that ensures healthcare access and affordability for all.
Sources: Industry leaders, Healthcare experts and officials associated with major hospitals in India.