The last decade has witnessed a lot of development in the Healthcare sector. Healthcare now ranks among the top sectors in terms of revenue and continues to generate a lot of employment. The healthcare industry is one of the fastest growing industries in India and estimates suggest that the overall market is around US$ 65 billion. According to the data provided by the World Bank, our healthcare expenditure is 4% of the GDP. Pharmaceuticals account for 13% of the total healthcare revenues. India is set to become the 3rd largest healthcare market by 2020.
With a population of more than 1.2 billion, India is the second most populous country in the world. The per-capita healthcare expenditure has augmented with the growing population. According to the 12th Five Year Plan, India is determined to achieve Universal Health Coverage for all. This would provide comprehensive health security to every citizen of the country.
About 70% of our population lives in rural areas and there’s a lot of scope to enhance healthcare services in these rural areas. As the sector continues to grow, e-Tendering and online procurement solutions will drive efficient execution of growth plans. It will enable reduction in the administrative cost and turnaround time to procure equipment.
The Indian healthcare industry faces a lot of challenges at the moment. Be it the exponential growth in demand for safe treatments at an economical price or escalating cost of running healthcare services, the sector needs to gear up to support growth that matches the domestic and international demand.
According to a report by McKinsey, though the total bed density has witnessed an increase, it still remains below the WHO guidelines of 3.5 beds per 1000.
Lack of skilled manpower remains a major challenge. There is a scarcity of medical practitioners to meet the healthcare problems of a country with a billion people.
The demand demographics and available infrastructure have huge gaps. Existing infrastructure resources remain largely underutilized.
There is a lot of out of pocket spending.
The key remains that can all the players involved– hospitals, pharmaceuticals, medical equipment suppliers, diagnostics provide, scale and control the price at which these services are available to a common man?
How C1 India adds value?
C1 India is fully committed to help the growing healthcare sector with our e-Procurement, e-Tendering, Reverse e-Auction and forward e-Auction solutions and services.
Along with deep process knowledge, C1 India brings technological expertise to help the healthcare players grow and scale businesses efficiently through centralized procurement engines.
Our solutions enable hospitals, pharmaceutical companies, medical equipment suppliers, and diagnostics to electronically exchange contractual information and transact medical supplies at competitive prices through a centralized system.
Maintenance, repair, material purchases are other services that can be procured by healthcare providers through our e-Procurement suite.
C1 India’s client base includes some of the big names of the healthcare sector such as Fresenius Kabi Onclogy Ltd and Artemis Hospitals.
Fresenius Kabi products are delivered across the globe to cater to the needs of critically ill patients. As a large part of the cost is incurred in international freight charges paid to the vendors. At a time when the international transportation vendors had formed a cartel for maintaining prices at a high level, C1 India helped Fresenius Kabi in the e-Auctioning process and the company went on to register savings in excess of 20%
Artemis Hospital, the first JCI and NABH accredited hospital in Gurgaon, wanted to conduct online reverse auction for procurement of Examination Gloves (S, M &L). The hospital needed transparency throughout the procurement process. Hence the system was designed in such a way that it revealed only the information which was required and was also role based.
C1 India partners with you to bring best practices in procurement strategy, vendor database management, and technology integration and spend management. Reach us today to know more about our offerings.