Rising Cost of Healthcare in India- What You Should Know

In India, the healthcare sector is undergoing a significant transformation, marked by advancements in medical technology, infrastructure development, and an increasing demand for superior healthcare services. But with every step forward, there is a pressing concern – the soaring costs of healthcare services.

ImpactGuru, a leading medical crowdfunding platform in India, has been instrumental in helping people raise funds for medical causes. At our platform, we firmly believe in creating a nation where healthcare is accessible and affordable to everyone. For this, understanding the underlying issue of escalating healthcare costs in India is important.

In this blog, we dig into the key factors contributing to the rise in healthcare expenses and discuss the key imperatives to navigate this healthcare disparity. 

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Indian Healthcare Sector - The Cost Breakdown Of Common Medical Conditions

Many individuals and families have to bear the burden of expensive treatments for common conditions like cancer, organ transplants, and diabetes. This expense breakdown of these conditions helps to understand the financial strain that people go through when seeking medical treatment. 

Here is a cost breakdown of India’s common health conditions: 

Primary and Secondary Healthcare - The Difference and Disparity

The healthcare industry can be divided into two - primary and secondary. Primary healthcare typically involves basic medical services, preventive care, health education, and initial treatment for common illnesses. Secondary healthcare facilities come into the picture when primary care fails to address health issues, requiring more specialized medical interventions and treatments.

Primary and secondary healthcare is often inaccessible and unaffordable for many. In primary healthcare, inadequacies often lead to delayed diagnosis. Due to the exorbitant costs that come under the umbrella of secondary healthcare, many individuals fail to receive the required treatments. 

Also read - The Healthcare Expense Disparity: Is It Ethical To Choose Crowdfunding For Your Medical Treatments?

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Challenges Faced in Healthcare Financing

Several factors can contribute to healthcare disparity. Out-of-pocket medical expenses, such as deductibles, copays, and coinsurance, leave individuals and families with a heavy financial burden. This is particularly evident when comparing the cost of care between the public and private healthcare sectors. The higher costs in private sector healthcare, often due to lack of access to insurance, put a financial strain on patients and their families.

The vast difference in out-of-pocket expenses, like diagnostics, treatments, medications, and hospital stays, between the public and private healthcare sectors, makes it difficult for an individual to afford necessary healthcare. The high out-of-pocket expenses often force individuals to borrow money or deplete savings, leading to financial strain and potential long-term debt burdens. This financial strain can also lead to individuals foregoing necessary healthcare, which can lead to more deficient health outcomes.

More on Public vs Private Healthcare - Public Vs. Private Healthcare In India: The Difference, Pros And Cons

To address the financial challenges in healthcare, several reforms including medical crowdfunding, health loans, and health insurance are present to reduce the burden of out-of-pocket expenses for healthcare services, to ensure that healthcare resources are distributed fairly and equitably among people, and to make healthcare services more affordable and accessible to everyone.

Let’s dig a little deeper into the key imperative to healthcare financing. One such reform that has been slowly and gradually growing and helping to transform the healthcare industry is medical crowdfunding. 

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An Imperative Solution To Healthcare - Medical Crowdfunding 

With a rising challenge, innovative solutions surface. In recent years, Medical Crowdfunding has become a great initiative to bridge the gap between healthcare needs and financial constraints.

What is medical crowdfunding? It involves leveraging online platforms to raise funds from a global community to cover medical expenses. Crowdfunding platforms like ImpactGuru serve as a bridge, connecting patients in need with empathetic donors willing to contribute towards their healthcare costs. ImpactGuru stands at the forefront of the medical crowdfunding industry, offering a robust platform that prioritizes healthcare fundraising. 

Medical Crowdfunding is an innovative solution to the rising challenge of healthcare costs. This process leverages online platforms to raise funds from a global community to cover medical expenses. ImpactGuru is a leading medical crowdfunding platform connecting patients in need to donors from across the nation. This provides patients with a lifeline to access necessary treatments, medications, and post-operative care that would otherwise be financially unattainable. The platform prioritizes healthcare fundraising and facilitates connections with a global community, creating a powerful network of support for those in need.

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Paving the Way for Accessible Healthcare

As we head towards inclusive healthcare, our purpose is clear: We aim to reform healthcare to minimize out-of-pocket costs and ensure fair access by inducing reforms like medical crowdfunding, loans, and insurance.

To achieve this, we must actively address barriers through the implementation of technology, policy changes, and community engagement. We can ensure that everyone, regardless of their background or circumstances, has the opportunity to access quality healthcare.

Platforms such as ImpactGuru embody this vision by creating an environment where affordable healthcare is not just a concept but a reality. To explore how ImpactGuru is advocating accessible healthcare, visit ImpactGuru.