India's Healthcare Sector Faces Talent Shortage Amid Rapid Expansion
India's healthcare expansion faces a critical talent crunch, says Alisha Moopen
The Economic Times
Image: The Economic Times
Alisha Moopen, deputy managing director of Aster DM Healthcare, highlights a critical talent shortage in India's healthcare sector as the company plans to expand to 15,000 beds by FY29. Despite increasing capital investment, the challenge lies in attracting and retaining medical professionals, which is essential for sustaining growth.
- 01Aster DM Healthcare aims to expand from 4,000 to 15,000 beds by FY29.
- 02The company is focused on balancing growth with profitability, targeting 15-17% revenue growth.
- 03A significant challenge is the shortage of medical professionals, with competition for talent intensifying.
- 04Aster's medical tourism segment is projected to grow, aiming for double-digit contributions to revenue.
- 05Technology and AI are being leveraged to improve operational efficiency and patient experience.
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Alisha Moopen, deputy managing director of Aster DM Healthcare, emphasizes that the biggest challenge facing India's healthcare sector is not the lack of facilities but a shortage of qualified medical professionals. Aster plans to expand its operations from 4,000 beds to 15,000 beds by FY29, driven by a merger with Quality Care India Limited (QCIL) and a focus on optimizing existing networks. The company aims for 15-17% revenue growth while maintaining current profit margins of 21.9%. Moopen notes that attracting and retaining medical talent is crucial, as Indian doctors are increasingly sought after globally. To combat this, Aster is focusing on providing clinical independence and opportunities for research. Additionally, Aster's medical tourism segment has seen a 41% year-on-year growth, with plans to increase its contribution to revenue to the mid-teens percentage. The use of technology and AI is also being prioritized to enhance operational efficiency and improve patient experiences.
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The talent shortage in the healthcare sector could lead to longer wait times for patients and reduced quality of care if not addressed. This impacts not only healthcare providers but also patients seeking timely medical services.
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