Home Healthcare is the Future of Healthcare
In the fast evolving technology era, every industry is embracing technology to enhance their services, products, and solutions that leads to good results and outcome. With this goal and mindset, the business world is striking harder to excel and Healthcare sector is nowhere behind when it comes to care, performance, and healthy lifestyle. And when there are startups innovators in the scenario, then you need to expect something unique and innovative. COVID 19 is something that was a bane and boon as well. So, Home Healthcare Services boomed during the tough times and today it is blooming with wide range of services that is benefiting both patients as well as healthcare stakeholders.
The difference between hospitalization and home healthcare services is quite eye opening one. For an example, a step-down ICU patient at a hospital pays an average of between Rs. 10,000–30,000 per day while the cost of a similar setup at home ranges from Rs. 7000–15,000 per day.
Looking at the benefit margin, the whole world is looking forward for Home Healthcare Services. Thus, various startups have stepped forward to bring enormous changes in the healthcare industry. The demand for home healthcare has been on the rise in the last few years owing to several factors including rapid urbanization, increased healthcare spending, and higher disposable incomes. As, patients, especially with low-acuity needs can avail of similar quality of care from hospitals at their homes and that too at an affordable cost through technology. Since the home-care patients are not using the physical assets of a hospital and occupying a bed in a hospital, the care costs for the patient are lower.
According to NATHEALTH’s Indian Home Healthcare 2.0 Report, Indian Home Healthcare has evolved and grown to a $5.4 billion market today. And this segment is expected to grow to a $19.9 billion market by 2025.
As a result, with humongous technologies playing a critical role in early disease detection, management, and treatment, they are sure to help in optimizing service delivery and standard of care. Therefore, the future is clear, bright, and safe
The difference between hospitalization and home healthcare services is quite eye opening one. For an example, a step-down ICU patient at a hospital pays an average of between Rs. 10,000–30,000 per day while the cost of a similar setup at home ranges from Rs. 7000–15,000 per day.
Looking at the benefit margin, the whole world is looking forward for Home Healthcare Services. Thus, various startups have stepped forward to bring enormous changes in the healthcare industry. The demand for home healthcare has been on the rise in the last few years owing to several factors including rapid urbanization, increased healthcare spending, and higher disposable incomes. As, patients, especially with low-acuity needs can avail of similar quality of care from hospitals at their homes and that too at an affordable cost through technology. Since the home-care patients are not using the physical assets of a hospital and occupying a bed in a hospital, the care costs for the patient are lower.
According to NATHEALTH’s Indian Home Healthcare 2.0 Report, Indian Home Healthcare has evolved and grown to a $5.4 billion market today. And this segment is expected to grow to a $19.9 billion market by 2025.
As a result, with humongous technologies playing a critical role in early disease detection, management, and treatment, they are sure to help in optimizing service delivery and standard of care. Therefore, the future is clear, bright, and safe
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