We can expect these changes in the Healthcare industry in Union Budget 2023

Here are a few new changes in the healthcare sector we expect this Union Budget 2023.

Healthcare industry in Union Budget 2023

The govt. allocated a massive Rs. 86,200 cr in public schemes in the 2022 Budget for healthcare needs. It was a substantial amount for future healthcare and sustainable healthcare infra. The government commenced a few programs like National Health Mission, Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, Ayushman Bharat Digital Mission, and Pradhan Mantri Swasth Yojana. However, while the intention was to serve the end users, it did not go as planned. The reason was that the healthcare system in India depends largely on private hospitals. 

Also ReadHow much do Indians spend on healthcare?

What Should We Expect? 

We expect the government to consider a similar approach to the 2018 Union Budget. The government concentrated on healthcare parameters like medical tourism, telemedicine, medical equipment and supplies, healthcare insurance, and infrastructure. While hospitals offered excellent treatment during the pandemic, there is still work to be done in hospital infrastructure. Hospitals have a shortage of treatment and beds and poor facilities in non-metro cities. 

It is essential for the government to improve this infrastructure, especially in non-metros, so that people can get better healthcare services. It will also help improve services on a global scale. 

What We Want

The government should look towards amending healthcare schemes, implementing direct public-private partnerships (PPPs), lowering hospital corporate taxes, and altering indirect taxes like GST. The government should make healthcare a zero-tax category instead of GST-exempt for an input tax credit. The move would make expansion more accessible and improve the use of healthcare resources. 

Additionally, a package called Central Government Health Scheme (CGHS) has not been updated since its introduction in 2014. The government should increase the scheme's prices to support healthcare businesses because of the rising costs of high-quality healthcare. 

Also ReadMassive advances in healthcare in the 2018 Union Budget

The moves would ease the pressure and financial restrictions on private hospitals. It would also be a good idea to provide subsidies or incentives for better healthcare components to improve hospitals' services. The government should also look to improvise the scheme payout turnaround time. 

The govt. allocated a massive Rs. 86,200 cr in public schemes in the 2022 Budget for healthcare needs. It was a substantial amount for future healthcare and sustainable healthcare infra. The government commenced a few programs like National Health Mission, Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, Ayushman Bharat Digital Mission, and Pradhan Mantri Swasth Yojana. However, while the intention was to serve the end users, it did not go as planned. The reason was that the healthcare system in India depends largely on private hospitals. 

Also ReadHow much do Indians spend on healthcare?

What Should We Expect? 

We expect the government to consider a similar approach to the 2018 Union Budget. The government concentrated on healthcare parameters like medical tourism, telemedicine, medical equipment and supplies, healthcare insurance, and infrastructure. While hospitals offered excellent treatment during the pandemic, there is still work to be done in hospital infrastructure. Hospitals have a shortage of treatment and beds and poor facilities in non-metro cities. 

It is essential for the government to improve this infrastructure, especially in non-metros, so that people can get better healthcare services. It will also help improve services on a global scale. 

What We Want

The government should look towards amending healthcare schemes, implementing direct public-private partnerships (PPPs), lowering hospital corporate taxes, and altering indirect taxes like GST. The government should make healthcare a zero-tax category instead of GST-exempt for an input tax credit. The move would make expansion more accessible and improve the use of healthcare resources. 

Additionally, a package called Central Government Health Scheme (CGHS) has not been updated since its introduction in 2014. The government should increase the scheme's prices to support healthcare businesses because of the rising costs of high-quality healthcare. 

Also ReadMassive advances in healthcare in the 2018 Union Budget

The moves would ease the pressure and financial restrictions on private hospitals. It would also be a good idea to provide subsidies or incentives for better healthcare components to improve hospitals' services. The government should also look to improvise the scheme payout turnaround time. 

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