Not too long ago, it was a trend for Indian doctors to take their careers abroad and make it big. But with outsourcing this trend has changed. Now Indian doctors don’t have to go to the U.S or U.K to make it big. They can earn just as much, back at India. The reason for this rising trend is medical outsourcing. Medical outsourcing has become the next big thing, next in line after BPO to hit the outsourcing world.
Medical outsourcing has been steadily growing in the recent years and now large organizations in the U.S and U.K have been offshore outsourcing their employee healthcare services to countries such as, India. For example, a big organization in the U.S would be approximately spending around $8,000 for each employee, for healthcare. This would amount to a shocking total of $8 billion for the total number of employees. But organizations such as these can save around 90 % of this amount by outsourcing healthcare services to India.
Day by day healthcare insurance in the U.S is rising. The huge expenses of healthcare insurance have been another reason why organizations have been outsourcing to India. But by outsourcing healthcare services to India, hospitals and organizations abroad have bee able to save a whopping 90 percent of the total cost! With such huge cost advantages, organizations and hospitals feel that it is more profitable to outsource, rather than perform healthcare services in their country. If American organizations do not outsource their healthcare services, they would soon find their profits getting a major hit.
Although outsourcing healthcare services to India is the best thing to do for companies and hospitals aboard, the concept of outsourcing healthcare services has not yet been widely accepted. This is because healthcare outsourcing requires intimacy with the patient. This is one factor in healthcare outsourcing which still has to be accepted. While in U. S, healthcare has become highly expensive, India is able to provide efficient and cost-effective healthcare services.
Indian doctors have been getting patients who haven’t been insured. This number of uninsured patients has been increasing over the past few years. Surveys have shown that only 15 percent of Americans are insured. This has been yet another cause for medical outsourcing to become on par with BPO outsourcing. The doctors in India feel that medical outsourcing will be on the rise and more number of doctors would start catering to this growing need. With medical outsourcing on the rise, the Indian healthcare industry has been predicted to grow to a whopping 47 billion dollars in a few years time. If medical outsourcing continues to increase in the future, this amount is likely to double for the Indian healthcare industry.