Starting a multispecialty hospital? here’s what you need to know
In India, only one hospital bed is available for 879 people. This is perhaps the biggest reason why we need more hospitals in the country. Hospitals are mainly categorized under two groups – government and private. As an entrepreneur, you will be allowed to open and operate a private hospital only.
So if you plan to start your own hospital, find out factors you must keep in mind:
Factors to Consider When Setting Up a Multi-specialty Hospital
When starting a multispecialty hospital, you have to cater to the various requirements such as obtaining the license, getting the different permits, procuring necessary medical equipment, employing doctors with various specializations among other things. You also have to adhere to the medical laws of the country.
Let us take a closer look:
You will require a significant amount to start the medical centre. The spend begins with the land needed to construct such a centre. Then, you will need to get the medical equipment, the furniture, the office equipment. You will also have to pay for the interior designing work. And finally, you will need a substantial amount of money for the licensing and registration procedures of the hospital. If you can raise the necessary capital on your own, you may keep your costs low. However, a multispecialty hospital has to cater to the need of the patient in terms of the quality of medical attention and services. The in-patient experience will matter. Hence, it may be a good idea to leave no stones unturned when you design the structure. You can support all the necessary expenditure using finance.
The next important step is to identify the location of the hospital. You have to ensure the hospital is accessible. Even if you look to set the medical centre up at a remote area of town due to the unavailability of a large space in the heart of the city, make sure the place is well-connected by public transport and easily accessible to your target patients.
Next, and very importantly, you have to get the proper licenses and permits for the hospital. The medical laws of India make it mandatory for any health clinic to have a registration number and a work permit. Apart from this, you will also have to get permits for electricity, water, the drainage system and the fire safety system. You also have to get a clearance from the municipality regarding the disposal of the bio-medical waste. Unless you have all the permits in place, you cannot have a functioning multispecialty hospital in India.
Next, we have the infrastructure requirements. You have to make a very detailed list of the materials you need to run the hospital. Your list must include the furniture you need (beds, desks, OT tables, wheelchairs, etc), the different medical equipment you need (X-ray machines, CT scanners, etc), the office equipment you need (computers, printer, etc) and the electronic items you need (air conditioners, refrigerators, heaters, etc). You then have to make a budget and also assign the vendors who will supply the equipment at the best prices.
A hospital is just a building without the health-care professionals. So you have to invest a lot of time and energy into hiring your team of doctors, nurses, lab technicians and also the office staff. Training new recruits will be an ongoing process. Cater to the different requirements of the patients and get doctors for the various departments such a cardiology, paediatrics, gynaecology, neurology, ophthalmology, orthopaedics, surgery, dentistry and so on.
To sum it up:
Starting a medical business is a challenge as it requires immaculate planning and proper execution. By opening a medical centre you not only start a business but you offer a service too, a service that many people benefit from. So keep the guidelines mentioned above and start a multispecialty hospital that would help people in getting good healthcare facilities and would also help you in becoming a successful medical entrepreneur.