COVID-19 fallout: Healthcare facilities in India see 80% fall in revenue: Survey
COVID-19 pandemic has left Indian private healthcare sector in acute financial distress, a new survey said adding that healthcare facilities have witnessed at least 80% fall in average revenue
The COVID-19 pandemic has left the Indian private healthcare sector in acute financial distress, a new survey said on Friday adding that the healthcare facilities in the country have witnessed at least 80 per cent fall in average revenue.
Post the lockdown from March 24, Indian hospitals have seen a large impact, especially among small and medium-sized hospitals, which are now facing existential challenges.
The survey by healthcare industry body NATHEALTH was conducted in 251 healthcare facilities across nine states and 69 cities to assess the impact of COVID-19 on the domestic healthcare industry.
The findings showed that 90 per cent of the surveyed healthcare facilities are facing financial challenges with 21 per cent facilities facing an existential threat.
"There is a need for a stimulus package to revive the Indian healthcare industry which will be crucial to provide much-needed relief to the healthcare sector which is the frontline defence in this fight against COVID-19," said Dr Sudarshan Ballal, President NATHEALTH.
According to the survey, hospitals in tier 1 and tier 2 cities are experiencing a 78 per cent reduction in OPD footfalls, and a drop of 79 per cent in in-patient admissions.
The study found that 90 per cent of organisations require some form of financial assistance.
The findings indicated that even after the lockdown lift, the situation will remain difficult for the hospitals and nursing homes as patients will hesitate from visiting hospitals.