Innovative and sustainable healthcare management

Importance of innovation in the Healthcare sector

Adopting innovations is increasingly becoming the norm across sectors including healthcare. The scope and avenues available for innovations in healthcare are plenty depending on the implementing stakeholder and the intended benefit. e.g. while hospitals may view products which help reduce costs and improve health as an innovation, patients and consumers of health care may view products that provide financial protection as innovations.

Driven by the compelling needs of increasing number of people seeking healthcare services and ever increasing cost of providing healthcare services, a number of developing countries including India have emerged as nerve centres for frugal healthcare innovations so much so that countries like the Unired States are looking forward to pick cues from these success stories.

The drivers of innovations are many in the emerging markets. The unique and sensitive developmental challenges, which have required these markets to develop indigenous solutions and perspectives has been a big driver for innovations.