Description

Introduction of Healthcare Industry The health care industry or medical industry is an aggregation and amalgamation of sectors within the economic system that provides goods and services to treat patients with curative, preventive, rehabilitative and palliative care. It comprises the generation and commercialization of goods and services lending themselves to maintaining and reestablishing health. The modern health care industry is divided into multiple sectors and depends on interdisciplinary teams of trained professionals and paraprofessionals to meet health needs of individuals and populations. Healthcare industry incorporates hospitals, medical devises, clinical trials, outsourcing, telemedicine, medical tourism, health insurance and medical equipment. The health care industry is one of the world's largest and fastest-growing industries. Consuming over 10 percent of gross domestic product (GDP) of most developed nations, health care can form an enormous part of a country's economy. The Indian healthcare sector is growing at a brisk pace due to its strengthening coverage, services and increasing expenditure by public as well private players. 1.1.1 Background: For purpose of finance and management, the health care industry is typically divided into diverse areas. As a basic framework for defining the sector, the United Nations International Standard Industrial Classification (ISIC) categorizes the health care industry as generally consisting of:  hospital activities  medical and dental practice activities;  other human health activities This third class incorporates activities of, or under the supervision of, nurses, midwives, physiotherapists, scientific or diagnostic laboratories, pathology clinics, residential health facilities, or other allied health professions, e.g. in the