Health Care

China Healthcare Sector Analysis

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China’s healthcare industry is entering into a new era with advance development of the infrastructure system. The industry is blessed with several advantages like large population of the country, increasing ageing population, increasing prevalence of lifestyle disease and many more. The government has also boosted the industry growth by blessing the sector with a US$ 120 Billion reform package. Backed by these all factors, healthcare sector in China is expected to outperform all other sectors in the country in terms of growth.

According to our new analytical study on the sector called -China Healthcare Sector Analysis- the China healthcare spending is forecast to grow at CAGR of over 18% during 2010-2012. Currently, the market is characterized by major changes in rural healthcare infrastructure. Anticipating the future growth, many private sector giants are looking to invest in the sector to get a pie of the chunk.

Our report has found that medical device market is expected to grow most in all other segments. The government decision to improve the healthcare infrastructure in rural areas will result in increasing demand of medical devices and equipments. Backed by this increasing demand, the medical device market is expected to grow at a CAGR of around 20% during 2010-2012. In this regard, our report provides rational analysis of various factors which will drive this market segment over the forecast period.

It also provides extensive information on Chinese pharma market with the detailed description of traditional Chinese medicines and western medicine market. It also highlights several emerging market trends like medical tourism market, healthcare IT market, telemedicine, etc. The research study gives detailed statistical and analytical review on demographics, macroeconomic indicators, disease profile, healthcare services market, key drivers and restraints. It contains all the vital information that will help clients to draw up their market strategies and assess opportunity areas in China’s healthcare market.

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About RNCOS:

RNCOS, incorporated in the year 2002, is an industry research firm. We are a team of industry experts who analyze data collected from credible sources. We provide industry insights and analysis that helps corporations to take timely and accurate business decision in today’s globally competitive environment.

Indian IT Companies to benefit from healthcare reforms

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Barrack Obama’s healthcare victory is going to be a boon for Indian IT and offshoring companies. This historic win of Obama is likely to fetch Indian IT companies deal worth Rs. 1.2 lakh crore. The US Supreme Court upheld the law that many believe will change the face of America’s healthcare sector.

A rough figure estimates that more than 25 million American citizen will buy healthcare insurance. Interestingly, the healthcare reform will ensure that every single medical practitioner will have a centralized data center in digital format. This will result in massive data conversion for electronic records for insurance claim and other processes.

This will largely benefit Indian outsourcing companies, and they have started to look at companies who will offshore this process. This will help Indian companies to have a better understanding of the process and learn the complexities.

America’s earlier process were all aimed at bringing back job to the US citizen, but most of the policy failed to take shape since the need to outsource was always the prequisite for the American industry. Offshore outsourcing has only seen to be climbing the graph, mainly for the reason that it is cheap and affordable. Companies in US have also targeted in that front where they could bring in more business and jobs, but on the contrary it seems they have to implement more measures.

Finally outsourcing to India will grow, because with new healthcare regulations compliance will be increasingly complex, so it becomes obvious that Indian companies will have to take up the challenge and make a beginning.

A Majority Of Physicians Oppose US Healthcare Reform

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Healthcare reform is a highly debated topic these days, due to new legislation passed by President Obama late last year. Although the American public seems to be divided in their stance on the reform act, the now majority Republican-controlled House is not its only critic- a recent study cites that many physicians themselves are actually opposed to the reform efforts. Among the major points made, physicians polled feel that reform calls for a greater number of healthcare workers, many of whom are not required to earn doctorate-levelhealthcare degrees like nurse practitioners and physician assistants.

The report recently released by Thomson Reuters and HCPlexus details the results of a national survey which polled nearly 3,000 U.S. physicians on the issue of healthcare reform. The overall consensus can be generalized to say that a majority of physicians feel “frustration and dismay in a time of change.” ”

Of the physicians polled,

65% believe that U.S. healthcare will deteriorate with five years
18% believe it will improve
17% believe it will stay the same

If the healthcare reform act passed by President Obama remains in legislation, under the Patient Protection and Affordable Care Act (PPACA), an estimated 32 million currently uninsured Americans will have will access to healthcare. Physicians participating in the survey report concern over who will treat these new patients. Nurse practitioners and physician assistants will likely begin seeing and treating nearly as many patients as physicians themselves.

According to the report, “physicians overall have a clear frustration with the non-physician providers’ compensation, which is comparable to primary care physicians, citing that nurse practitioners and physician assistants are not as well-trained or as educated.”

Nurse practitioners and physician assistants do have an education above a bachelor’s degree, but are not required to have earned their doctorate from a medical school like a physician.Healthcare degrees of all levels are in high-demand in response to reform efforts, which will require greater numbers of healthcare workers overall, in both an administrative and clinical capacity. Online programs offering advanced healthcare degrees are growing in popularity as a method for working healthcare professionals to earn the additional credentials necessary to qualify for higher-level positions.

Results of the study also claim that a majority of physicians have a similarly cynical view on how healthcare reform will affect patients. Results conclude that:

58% feel the legislation will negatively affect patients
27% feel the effect will be positive

Survey results distinguished responses among physicians of different medical practices, for example, as primary care physicians, or psychiatrists. Of all participating groups, pediatricians and psychiatrists were the most optimistic about the future of healthcare. On the other hand, dermatologists were found to have the most negative outlook; not a single dermatologist polled reported a belief that current healthcare reform efforts would have a positive effect on physicians.

Emily writes about Online Education for University-bound.com – a resource site for those interested in earning a degree online.

Healthcare Compliance Understanding Hipaahitech Regulatory Controls

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Security is a major cause of concern in today”s techno savvy global corporate environment. With organizations and healthcare facilities going towards a paperless environment, most of the information transfer and storage is in digital formats. Organizations, healthcare institutions and hospitals are faced with security challenges of their records and personnel. The need to protect the privacy of employees or patients involves a critical issue of the access to the electronic information.

Through a forward looking approach with view to address the current problems of IT compliance and security requirements of the healthcare industry and corporate sectors, various regulatory controls were put in place. This includes healthcare compliance in the form of Health Information Technology for Economic and Clinical Health (HITECH) Act, signed as a part of the American Recovery and Reinvestment Act of 2009. The Act, besides adding requirements for security breaches, has also laid down security standards for maintaining electronic health records. This Act also expands the privacy provisions beyond the Health Insurance Portability and Accountability (HIPAA) Act.

Tthe HIPAA act was enacted in 1996 in the United States among other things to protect the health insurance coverage for employees and their next of kin in case of change of workplace or retrenchment. With the widespread use of electronic data exchange, HIPAA also made provisions for health care providers, insurance companies and employers to confirm to national standards in electronic health care transactions, so as to maintain high level of security. However, since the integrity of data is at risk by technological enhancements, the HIPAA healthcare act has transaction and code rules besides a number of standards and guidelines for the organizations to maintain the privacy and security of sensitive health information.

Though considered a boon to the security of healthcare information, these regulatory systems offer the entities a number of challenges too. The use of compliance management software developed by experts in the field will help organizations streamline and automate compliance initiatives. Further organizations have also made use of smart cards to identify access to the electronic documents. Such holistic enterprise-wide approach is needed for effective controls

Conformance to HIPPA/HITECH regulatory controls ensure Information security and healthcare regulatory compliance. These Acts address the security and privacy issues in healthcare industry. HITECH applies to the business associates too. Under such provisions, the business associates are also accountable for any data breaches and face penalties for non-compliance.

Private Healthcare Sector In Saudi Arabia Expanding

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The healthcare market in the Kingdom of Saudi Arabia is expected to grow phenomenally in near future on the back of factors like rising prevalence of infectious and lifestyle diseases, such as obesity and diabetes. According to the latest research report of RNCOS, titled Saudi Arabian Healthcare Market Forecast to 2012, Jeddah and Riyadh have maximum numbers of private hospitals in the country due to low operational costs. These cities are still the most desired location for private investment, driven by various suitable factors like increasing health awareness and growing expatriate population.

The relatively low salary scale of doctors has also been luring the private players to invest in these locations. Doctors also prefer these cities due to optimum cost of living and benefits available there. Saudi Arabias population and epidemiological profile can be regarded as the main driver of strong expansion in the countrys healthcare market, which offers ample opportunities, especially to private players. The high occurrence of lifestyle diseases would significantly increase spending on pharmaceuticals, hospital services, and medical devices in future.

The comprehensive research and objective analysis of the Saudi Arabian healthcare market categorize the industry into hospital services, medical devices, and pharmaceuticals segments. The report contains information relating to market size, demand, and market segmentation for each segment. It also analyzes other crucial factors like medical test rates in private hospitals, consultancy fees and bed capacity in major hospitals, and numbers of physician, among others. The details pertaining to the Saudi Arabian insurance market along with industry forecast present a comprehensible portrait of the Kingdoms healthcare sector.

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