Page 6 - Medical Industry

Corporate hospitals to see 8-10% revenue growth in FY24: ICRA Ratings

Corporate hospitals are set to clock an 8-10 per cent revenue growth and strong margins in the current fiscal, ICRA Ratings said in a report on Thursday. The rating agency maintained a stable outlook for the sector, saying the improving operating leverage, coupled with continued cost optimisation and digitisation measures, are expected to support a healthy operating margins of 22-23 per cent in 2023-24 (FY24). The report is based on the agency's sample of nine listed hospital chains -- Apollo Hospitals, Aster DM Healthcare, Fortis Healthcare, Healthcare Global Enterprises, Krishna Institute of Medical Sciences, Max Healthcare, Narayana Hrudayalaya, Rainbow Children's Medicare and Shalby Hospital. Higher revenue and margin expectations are led by rising incidence of non-communicable lifestyle diseases, growing per capita spend on healthcare, increasing number of health insurances being availed of, and an increase in medical tourism, it said. The report said the aggregate occupancy

Only 25% of semi-rural, rural population has health facilities within reach

The report indicated that an Indian household spent 15-20 per cent of their yearly income on medical expenses, while 23 per cent relied on informal loans

Analyse utilisation ratio of medical equipment by July 31: AIIMS to depts

In a move aimed at better use of medical equipment, the AIIMS administration on Monday asked its various departments to analyse the utilisation ratio of all medical and diagnostic equipment in their inventory by July 31 this year. For the equipment whose utilization ratio is less than 0.5 (i.e. 50 per cent), an action plan shall be prepared to increase the utilization to at least 0.80 (i.e. 80 per cent), according to an office memorandum issued by AIIMS Director Dr M Srinivas on Monday. The director has taken rounds of various areas within AIIMS, and observed that few medical equipment are idling / underutilised and there is potential to increase their utility by sharing them with other departments, the memorandum said. "Accordingly, it has been decided that all departments shall analyze the utilization ratio (i.e. the ratio of equipment utilized hours and the equipment hours available) for all medical and diagnostic equipment in their inventory by 31 July, 2023," it said. For case

AP ECET 2023 results declared, everything you need to know about the exam

Yesterday, on July 2, 2023, the official website posted the AP ECET 2023 results. Applicants who have shown up for the exams can download the results through the website

upGrad forays into Pacific region with medical institute in Vanuatu

Edtech firm upGrad on Tuesday announced that it has forayed into Pacific region with first-ever fully offline medical institute in the Republic of Vanuatu with an initial investment of USD 10 million. The company plans to set up three medical institutes in the region. upGrad Co-founder and Chairperson Ronnie Screwvala said that Vanuatu is at the centre of the educational revolution which also makes it a business-ready geography for us. Vanuatu, a country in Oceania, is a South Pacific Ocean nation consisting nearly 80 islands. "We have a strong presence in Australia, and this move in Vanuatu, which shares proximity with Australia and New Zealand, will be a critical piece in strengthening our South Pacific footprints," Screwvala said. upGrad's Institute of Medical Sciences (UIMS), a fully offline campus in Vanuatu, aims to attract and train global talent with modern day clinical competencies and build the next crop of skilled medical practitioners, the company said in a statement.

50 medical colleges approved in this year, adding 8,195 UG seats: Report

Fifty new medical colleges have been approved this year, adding 8,195 more undergraduate seats and taking the total number of such seats in the country past 1,07,658, official sources said on Thursday. With the addition of these 50 colleges (30 government and 20 private), the number of medical colleges in the country now stands at 702, they said. The 50 medical colleges have been approved in Telangana, Rajasthan, Tamil Nadu, Odisha, Nagaland, Maharashtra, Assam, Karnataka, Gujarat, Haryana, Jammu and Kashmir, West Bengal, Uttar Pradesh and Madhya Pradesh, the sources said. The recognition of 38 medical colleges across the country was withdrawn in the last two-and-a-half-months during inspections by the Under-Graduate Medical Education Board of the National Medical Commission (NMC) for allegedly not following the prescribed standards, the sources said. Further, show-cause notices have been issued to 102 medical colleges, they added. Of the 38 medical colleges, 24 have appealed to t

Dr Reddy's completes Phase-I study in proposed biosimilar of tocilizumab

Global Phase III study is being initiated to compare the efficacy, safety, tolerability and immunogenicity of DRL_TC with the reference product

AIIMS Delhi signs MoU with HSSC for skill development of hospital staff

The AIIMS Delhi has signed a memorandum of understanding with the healthcare sector skill council for the skilling, reskilling, and upskilling of various cadres of hospital staff. The HSSC is a recognised awarding body by the National Council for Vocational Education and Training (NCVET) under the ambit of the Ministry of Skill Development and Entrepreneurship (MSDE), an office memorandum issued by AIIMS said. It assess and certifies candidates on skill qualifications in the healthcare sector including AYUSH, social sector and hospital management services with the support of industry experts, academia, line ministries and regulators, it said. The HSSC has expressed its willingness to recognise AIIMS as its centre of excellence (CoE), Director Dr M Srinivas said. "This CoE would provide leadership, best practices, research, support, training of trainers and skill training for a specific sector. This would be a role model as a place where the highest standards are maintained," the ..

Reproductive health market will continue to expand through 2030: Report

Global medical devices market is poised for significant growth in coming years, with sexual and reproductive health segment expected to experience robust expansion through 2030, said a report

Centre has sanctioned 11 new nursing colleges for Tamil Nadu: Subramanian

The Central government has sanctioned 11 new nursing colleges for Tamil Nadu and they would be established at an outlay of Rs 10 crore each, State Health Minister Ma Subramanian said on Friday. These colleges, offering 100 undergraduate seats, would be built next to the state-run medical colleges, he said. Despite the state already having six nursing colleges, there have always been pleas to start additional colleges. "During my meeting with Union Health Minister Mansukh Mandaviya two months ago, I requested for according sanction for 30 new nursing colleges in the state, owing to the huge demand for them. Eleven new nursing colleges were sanctioned for Tamil Nadu on Thursday evening," Subramanian told reporters here. He said several legislators had demanded that a nursing college be set up in their respective Assembly constituencies or in their districts. The sites for the colleges would be decided in consultation with Chief Minister M K Stalin, Subramanian said. During a review

WHO calls for action to protect children from contaminated medicines

In the wake of fatalities among children linked to cough syrups and medicines made by manufacturers based in India and Indonesia, the WHO has issued an "urgent call to action to countries to detect and respond to incidents of falsified medical products and protect children from contaminated medicines. The World Health Organisation (WHO) said that over the past four months, countries reported several incidents of over-the-counter cough syrups for children with confirmed or suspected contamination with high levels of diethylene glycol (DEG) and ethylene glycol (EG). The cases are from at least seven countries, associated with more than 300 fatalities in three of these countries, with most young children under the age of five. The WHO said the contaminants are toxic chemicals used as industrial solvents and antifreeze agents that can be fatal even in small amounts, and should never be found in medicines. WHO is releasing an urgent call to action to countries to prevent, detect and ...

Biden administration proposes ban on misleading Medicare Advantage ads

The Biden administration on Wednesday proposed a ban on misleading ads for Medicare Advantage plans that have targeted older Americans and, in some cases, convinced them to sign up for plans that don't cover their doctors or prescriptions. The rule, proposed by the Centers for Medicare and Medicaid Services, would ban ads that market Medicare Advantage plans with confusing words, imagery or logos. The rule also would ban ads that don't specifically mention a health insurance plan by name. It's an aggressive step to tackle a growing problem in the Medicare Advantage marketplace, a booming business that offers privately run versions of the government's Medicare program for people who are 65 and older or have disabilities. Nearly half of all Medicare enrollees about 28 million are now turning to Medicare Advantage plans. And some have been deceived by television commercials, online ads and mailers put out by the marketing agencies and brokers that some insurers have hired to win over

UP to uplift nursing, medical institutions quality under 'Mission Niramaya'

Aimed at improving healthcare services in UP under 'Mission Niramaya', as many as 12 institutes have signed a MoU with the State Medical Faculty to mentor nursing and paramedical education

Punjab to emerge as medical education hub, says CM Bhagwant Mann

Punjab will emerge as a hub of medical education for the world, Chief Minister Bhagwant Mann said on Sunday after inspecting the site of an upcoming medical college in the district According to an official release, he said the medical college, coming up on an area of 20 acres at a cost of Rs 428.69 crore, will be named after Guru Nanak Dev. The design has been finalised and work on this ambitious project will start soon, the chief minister said. He said that since a large number of students from other states will also come to this college, a hostel facility along with a 300-bed hospital will also be constructed. The Punjab government has decided to construct 16 medical colleges in five years, raising the total number of such institutes in the state to 25, Mann said. The foundation stone of the Sant Attar Singh State Institute of Medical Sciences at Mastuana Sahib in Sangrur had already been laid and work on two medical colleges at Kapurthala and Hoshiarpur will also commence soon,

Multiple headwinds could act as margin tourniquet for diagnostics

Competitive pressures, valuations cap gains from current levels

Delhi Nurses Federation withdraws call for mass casual leave on Nov 16

The Delhi Nurses Federation has withdrawn its call for mass casual leave on November 16 due to the model code of conduct in place ahead of the civic polls, an official said on Tuesday. The 250-ward Municipal Corporation of Delhi (MCD) goes to polls on December 4 while the results will be declared on December 7. On November 4, the Delhi Nurses Federation (DNF) announced that its members would go on a mass casual leave since its symbolic three-day strike did not yield a positive outcome. The federation held a symbolic strike from 9-11 am from November 2-4 to put forward their demands, which include regularisation of services and long-due promotions. "Due to rising cases of dengue, we have decided to take any further course of action after three weeks from now. If our mass casual leave protest doesn't move authorities to look into our demands, we will go for indefinite strike from November 30," DNF Secretary General Liladhar Ramchandani had said earlier. On Tuesday, he said, the ...

Manipal Hospitals partners with Google Cloud to improve patient service

Healthcare company will use Google Cloud's technology for virtual care and other services

Viatris eyes $1 billion revenue from eye care acquisitions by 2028

Company has bought ophthalmology business of Taparia family-backed Famy Life Sciences

Chhattisgarh NEET UG Counselling 2022 list: Here's all you need to know

The Directorate of Medical Education, Chhattisgarh has announced the allotment result for Chhattisgarh National Eligibility Entrance Test for Undergraduate (NEET-UG) 2022 counselling for round 1

Parliamentary panel recommends setting up regulators for medical devices

The Parliamentary Standing Committee on Health and Family Welfare has recommended setting up of a new set of regulators at different levels for regulating the medical Devices industry