Want to Enter the Thriving Industry of Hospital and Healthcare Management? Check out This Course!

The healthcare industry in India has always been one of the most prevalent sectors of the economy in our country, it has witnessed a constant growth of 25% in the past few years. Additionally, the notion and concept of medical tourism is also growing leaps and bounds, it can be explained as the concept where people who reside in a specific country travel to another nation to obtain medical, dental and surgical care or treatment while at the same time attaining equal to or better care than they would have if they availed treatment in their home nation. The fundamental reasons why people are travelling for medical care is down to reasons such as affordability, greater access to care, or an extraordinary level of quality of care.

Due to this, there has been a sudden influx of medical patients from around the globe, which has, in turn, augmented the industry as a whole. This evident development has lead to the need to modernise and efficiently streamline this industry on an administrative and managerial level. A recent study conducted by KPMG concluded that India will require at least 1 lakh medical beds in the next 25 years, to match the enhancing needs of the healthcare industry. This will not only result in a significant rise in the demand of not only skilled professionals but for healthcare management as well.

With the unaccounted growth of the sector, there has been a remarkable change shift in the requirements of a hospital/medical institute. Functions of business such as human resources, marketing, planning, staffing, accounting, and public relations. All these functions help in offering top-notch yet cost-effective medical solutions. However, before jumping into the realms of this industry, it is imperative to analyse and interpret the host of merits & demerits this industry includes. The merits are as listed below.

  • Individuals absorbed in this area of business are eventually exposed to a wide variety of business operations such as marketing, financing, human resources, and operations. There is a wide scope of opportunities for youngsters in the domain.
  • Working in such a mentally and physically intense field eventually results in high levels of job satisfaction as well.
  • High levels of job accountability and responsibility – employees can directly see and witness the value they add to the institute.
  • High intensity and demanding jobs subsequently result in high remunerations as well

While we have discussed the opportunities for growth and general advantages of entering this industry, it would be foolish to avoid elaborating on the demerits and disadvantages of venturing into this sector.

  • Working in a hospital or medical institute is bound to be a mentally pressurising job, maybe even traumatising. Witnessing health and medical tragedies can be mentally scarring for individuals who may not be accustomed to such situations
  • At a hospital or any medical body for that matter, there are no set work shifts. In these jobs, a call for help or support may arise in any situation and it is imperative to prepare oneself for the same.
  • In this sector, there is no scope for error or misjudgments. Lives are literally at stake. Employees must remain alert and self-aware at all times, even genuine human errors can result in fatalities.

A notable institute offering a BBA in Hospital & Healthcare Management is UPES (University of Petroleum & Energy Studies). This bachelor degree allows students with the right mindset and determination to enter their domain of interest at an extremely young age itself. Students can expect placements in high-profile hospitals, clinics, rehabilitation centres, medical tourism, insurance & banking, among others.