“Health is wealth” It is truly a great written quote. A person spends his whole life running for money, but in that way, he loses his most valuable asset, his health. He then spends his hard earned money to pay the hospital bills. A man does not understand the value of something until he loses it or pays a heavy amount for it. Starting a healthcare business can become a good choice through which you can care people, who are suffering from health related challenges. If you are an entrepreneur and have interest in healthcare service, it’s a perfect article for you.
When a person is healthy, he does not even spend his very little time in maintaining that health. And when he becomes ill or something happens to his health, then he understands the value of it, then he starts healthcare it.
Health is something which is costless and free, anyone can become a healthy man without paying a single penny. But still people don’t not want to invest in their health,
Instead, they prefer paying in hospitals.
People have seen a lot of dangerous diseases, and now they started taking their health issues seriously. Healthcare businesses are earning a lot of money in the past few years, and this segment has a lot of opportunities in future.
Although starting a healthcare business requires larger investment, but it is worth of it.
Let’s see all the figures you have to consider to start a successful healthcare business.
How much it costs you to start a healthcare business?
It totally depends upon you that you want to start it as a clinic, a huge hospital or a kind of empire of your business. If you want to start your own clinic, then. The cost of your location, heavy and needed equipment, registration, furniture and fixtures, staff and any other expenses, will cost you around Rs. 1 to Rs. 10 lakh.
The amount may vary according to the salary of your staff, the rent you pay for the clinic, the quality of equipment you use, the furniture you use, etc.
As said, the higher you want to go up, the more steps you have to climb every time.
The cost will increase automatically if you want to set up your healthcare business at a higher level.
How much can you earn in healthcare business?
Earning by offering healthcare services to people is a very common but profitable business idea. It is obvious that you have to invest a large amount of your money, efforts and energy to start. But when your business sets up perfectly, then it can be a continuous money making machine for you. Hiring a professional doctor cost you a huge amount of money, but the amount he can earn for you is incomparable to his salary.
And if you want to be the doctor, then you must have to know an important thing. The salary structure you will get offered by hospital owners or government.
Firstly you can do an internship of 1-2 years to know the basics. You get a salary of about Rs 3,000 to Rs 20,000 during your internship,depending upon the place where you are as an intern.
After that you can earn upto Rs 15,000 to Rs 80,000 when you finish your post graduation, at the age of around your early 30s. It also depends upon from where you have done your post-graduation. After that, finally at the age of around 35, you are able to earn on an average around Rs 75,000 to Rs 2 lakh per month.
Some doctors even earn about Rs 3 lakh to Rs 5 lakh per month.
What are the requirements to start a hospital?
Land and building will be the first and most important requirement you have to fulfill to start a hospital. You have to lease the land or you have to buy a new one. If we talk about a multi speciality 100 bed hospital, then an OPT (ocular photodynamic therapy) area is required. There will be an area for diagnostic, an emergency room is compulsory to have, a separate room which is called operation theatre is mandatory, must have an ICU room.
You have to make wards, such as general ward, semi private ward and private ward.
You have to follow a strategic planning process to plan your healthcare business,
the medical care and the medical services you offer. You have to include pathology, pharmacy, cath-lab, a coronary care and some other departments too, to be a step ahead than general hospitals.
If you want to provide your patients with the facility of dialysis, then you can do that too. You also have to set up an administrative block, where your HR, IT and the executive of corporates sit together and manage the administrative work and all the paperwork.
If you are starting a multi speciality hospital then some basic specialities such as,
Neurology, cardiology, necrology must be present.
Read pet care business plan : How to Start a Pet Care Service Business in India?
Read also : How To Start An Online Tuition Business At Home In India?
What are the regulations and licenses you have to take to start a hospital?
Firstly you have to take license from CMO (Chief Medical Officer). After that you have to take license under a clinical establishment act. This license is not for every state in India, it works in 14 states only. If you are starting pharmacy, then you have to take drug and shop license. If you are housing radiology unit in your hospital then you have to take license from AERB.
After knowing all this you must be curious to know how to start it, then don’t worry here is the step by step process to guide you that.
How to start your own healthcare business?
1) Strategy planning
You have to make a business strategy of your healthcare business, a plan.
Planning your business with strategy leads it towards strategic development.
You have to plan how will you care health, how you render health services, care services.
If you have severe patients then how will you healthcare it, how will your health it.
You have to think over some questions such as
- Where you build or start your hospital?
- How you hire professionally expert doctors?
- How to minimise the cost involved in starting healthcare business?
- How to increase the profits of your hospital?
- How to increase the efficiency in your hospital?
- How to work effectively in lower budget?
2) Taking all the necessary permits and licenses
Following the rules and regulations made by our government was compulsory for every person who wants to do any job or want to start any business. The permissions and licenses secures you from the problems you face later in the time. The above mentioned licenses are mandatory to acquire if you want to start your hospital.
3) Acquire land
After planning, it is the time to execute your plan. You have to take the land on lease or you have to buy a new one. This process may take some more time than usual in paperwork. You can acquire it at any place but having a hospital at urban residential area helps in rapid growth of the hospital.
4) Registration
If you want to start your hospital as a private limited company, then firstly you have to register it under the ROC (Registrar Of Company) of your area. You have to find enough number of directors for your private limited company. You have to give their complete information while registration.
And if you want to start it as a one person company, a partnership, a limited liability partnership, then you can do that too, you just have to analyse the pros and cons of any form you choose.
You also have to make the Article Of Association (AOA) and Memorandum Of Association (MOA) of your hospital, which states that all the activities are carried out under a corporate entity.
Read : How to Start an Antique Collection Business? A Guide with all Tips
Want to start blogging ? read : How to Start a Blog and Make Money?
5) Tie up
As your business is in health industry and you have patients too.Then tying up with care health insurance companies will serve you additional income. By doing so, you only have to suggest needy patients to buy some kind of insurance policy from a particular insurance company.
After that, you will get some percentage of your commission for selling an insurance policy.
6) Waste product treatment
As you will cure people and help them to recover from their any kind of disease or injury, then it also requires a lot of materials such as, bandages, cotton, various drugs,
different type of chemicals, plaster of Paris and many other stuff. Now, not every item is fully efficient, waste will also produce from your hospital.
And you cannot throw this kind of waste anywhere in the environment. You have to find out various different ways to reduce the generation of biomedical waste from your hospital. As well as you have to find out some solutions to treat the existing biomedical waste.
You have to install heavy incinerators to burn down the medical waste.You have to try different ways to dispose the ways such as Autoclaving, microwaving, using chemicals, etc.
7) Build a website
You may think that what is the need of website in health industry, but it plays a very crucial role in any aspect in any business.You don’t have to think too much about advertising and marketing of your hospital, hiring a web developer and a good content writer can do that for you on your website.
You can provide free consultancy services on your website and then later you can attract health conscious people from it. Rendering free consultancy services for some-time helps you in setting up a good goodwill in the market. Money comes and goes but goodwill is one of the greatest asset of any business. You can show the achievements of your hospital, the qualifications of your doctors, their challenging but successful projects on your website.
Hey, you used to write magnificent, but the last few posts have been kinda boringK I miss your super writings. Past few posts are just a bit out of track! come on!
I have recently started a site, the info you provide on this website has helped me tremendously. Thank you for all of your time & work.
Hi! Would you mind if I share your blog with my twitter group? There’s a lot of folks that I think would really enjoy your content. Please let me know. Cheers
Thank you for your sharing. I am worried that I lack creative ideas. It is your article that makes me full of hope. Thank you. But, I have a question, can you help me?
Good day! I know this is kinda off topic but I was wondering which blog platform are you using for this site? I’m getting tired of WordPress because I’ve had issues with hackers and I’m looking at options for another platform. I would be fantastic if you could point me in the direction of a good platform.
I dugg some of you post as I cerebrated they were very beneficial handy
I genuinely prize your work, Great post.
Very interesting info!Perfect just what I was searching
for!Expand blog
I was reading through some of your content on this website and I conceive this site is really informative! Keep on putting up.
Good – I should certainly pronounce, impressed with your website. I had no trouble navigating through all tabs as well as related info ended up being truly easy to do to access. I recently found what I hoped for before you know it in the least. Reasonably unusual. Is likely to appreciate it for those who add forums or something, website theme . a tones way for your client to communicate. Excellent task.
I envy your piece of work, thankyou for all the interesting content.
Some truly nice stuff on this site, I love it.
Good write-up, I’m normal visitor of one’s site, maintain up the nice operate, and It’s going to be a regular visitor for a long time.
Your house is valueble for me. Thanks!…
I’d constantly want to be update on new blog posts on this site, bookmarked! .
Keep working ,remarkable job!
Hey there, You’ve done an excellent job. I’ll definitely digg it and personally recommend to my friends. I am confident they will be benefited from this site.
Generally I don’t learn article on blogs, but I would like to say that this write-up very forced me to take a look at and do it! Your writing taste has been surprised me. Thanks, quite great article.
Thank you for the sensible critique. Me and my neighbor were just preparing to do some research about this. We got a grab a book from our area library but I think I learned more from this post. I’m very glad to see such excellent info being shared freely out there.
hello there and thanks on your information – I’ve certainly picked up anything new from right here. I did however expertise a few technical issues using this site, since I skilled to reload the site many times previous to I may just get it to load properly. I have been puzzling over if your web hosting is OK? Not that I’m complaining, however sluggish loading circumstances instances will often affect your placement in google and can damage your high quality rating if ads and ***********|advertising|advertising|advertising and *********** with Adwords. Anyway I am including this RSS to my e-mail and could glance out for much more of your respective interesting content. Ensure that you update this again soon..
What Is Puravive? Puravive is an herbal weight loss supplement that supports healthy weight loss in individuals.
Throughout this grand design of things you actually get a B- just for effort and hard work. Exactly where you actually lost me ended up being on the details. You know, they say, the devil is in the details… And that could not be more true at this point. Having said that, permit me reveal to you just what did work. The text is actually rather engaging which is probably why I am taking an effort to opine. I do not make it a regular habit of doing that. Secondly, whilst I can easily see a leaps in reason you come up with, I am not necessarily sure of exactly how you seem to unite your details that make your conclusion. For now I shall yield to your position however trust in the foreseeable future you actually link your dots much better.
Hi there, just became alert to your blog through Google, and found that it’s truly informative. I’m gonna watch out for brussels. I’ll appreciate if you continue this in future. Many people will be benefited from your writing. Cheers!
You should take part in a contest for one of the best blogs on the web. I will recommend this site!
Woah! I’m really loving the template/theme of this website. It’s simple, yet effective. A lot of times it’s hard to get that “perfect balance” between user friendliness and visual appearance. I must say that you’ve done a excellent job with this. Additionally, the blog loads very quick for me on Opera. Outstanding Blog!
I don’t normally comment but I gotta admit thankyou for the post on this great one : D.
Howdy! This is kind of off topic but I need some advice from an established blog. Is it very hard to set up your own blog? I’m not very techincal but I can figure things out pretty fast. I’m thinking about making my own but I’m not sure where to start. Do you have any tips or suggestions? Thank you
We are a group of volunteers and starting a new scheme in our community. Your website offered us with valuable information to work on. You’ve done a formidable job and our entire community will be thankful to you.
Saved as a favorite, I really like your blog!
Hello, Neat post. There is an issue with your web site in web explorer, could check this… IE still is the marketplace leader and a good portion of folks will miss your excellent writing due to this problem.
What Exactly is Tonic Greens? Tonic Greens is a dietary supplement that has proven effective in helping many people manage the herpes virus and boost their immune systems without adverse effects.
Valuable info. Lucky me I found your site by accident, and I’m shocked why this accident didn’t happened earlier! I bookmarked it.
Absolutely pent subject matter, Really enjoyed studying.
Its such as you learn my mind! You appear to understand so much approximately this, such as you wrote the book in it or something. I feel that you just could do with a few p.c. to force the message house a little bit, but other than that, that is fantastic blog. A great read. I’ll definitely be back.
Very interesting info !Perfect just what I was searching for! “The most wasted day of all is that on which we have not laughed.” by Sbastien-Roch Nicolas de Chamfort.
You have remarked very interesting points! ps decent website . “Loneliness seems to have become the great American disease.” by John Corry.
It is in reality a great and helpful piece of info. I am glad that you shared this helpful info with us. Please keep us informed like this. Thank you for sharing.
This is the proper blog for anyone who desires to seek out out about this topic. You notice a lot its virtually laborious to argue with you (not that I really would want…HaHa). You undoubtedly put a new spin on a subject thats been written about for years. Nice stuff, simply great!
Wow, fantastic weblog layout! How long have you ever been running a blog for? you made running a blog look easy. The total glance of your website is great, as neatly as the content!
Terrific work! This is the type of information that should be shared around the internet. Shame on Google for not positioning this post higher! Come on over and visit my web site . Thanks =)
I not to mention my friends came reading the excellent secrets and techniques located on your web blog then the sudden developed a terrible feeling I never thanked the web blog owner for those strategies. Those boys happened to be very interested to see them and now have surely been taking pleasure in them. Appreciation for being indeed accommodating and then for making a choice on this sort of smart resources millions of individuals are really wanting to be aware of. My sincere regret for not expressing appreciation to you sooner.
This web site is really a walk-through for all of the info you wanted about this and didn’t know who to ask. Glimpse here, and you’ll definitely discover it.
My partner and I stumbled over here from a different web address and thought I may as well check things out. I like what I see so i am just following you. Look forward to checking out your web page for a second time.
Thanks for another fantastic article. The place else could anyone get that kind of info in such an ideal means of writing? I’ve a presentation subsequent week, and I am on the search for such info.
I believe this site has got some very wonderful info for everyone. “The individual will always be a minority. If a man is in a minority of one, we lock him up.” by Oliver Wendell Holmes.
Fitspresso stands out among the crowded health supplement market as an exceptional product.
Fitspresso stands out among the crowded health supplement market as an exceptional product.
Great weblog right here! Additionally your web site a lot up very fast! What host are you the usage of? Can I am getting your associate hyperlink for your host? I desire my site loaded up as quickly as yours lol
Thank you, I’ve recently been searching for info approximately this topic for a long time and yours is the best I have discovered so far. However, what in regards to the bottom line? Are you sure about the supply?
I am usually to running a blog and i really respect your content. The article has actually peaks my interest. I am going to bookmark your web site and maintain checking for brand spanking new information.
hi!,I like your writing very much! share we be in contact extra about your post on AOL? I need an expert on this space to resolve my problem. May be that’s you! Taking a look ahead to look you.
As soon as I noticed this internet site I went on reddit to share some of the love with them.
Hi, just required you to know I he added your site to my Google bookmarks due to your layout. But seriously, I believe your internet site has 1 in the freshest theme I??ve came across. It extremely helps make reading your blog significantly easier.
Thanks for sharing. I read many of your blog posts, cool, your blog is very good.
As I website possessor I believe the content material here is rattling fantastic , appreciate it for your efforts. You should keep it up forever! Best of luck.
Hi, i read your blog occasionally and i own a similar one and i was just wondering if you get a lot of spam responses? If so how do you prevent it, any plugin or anything you can suggest? I get so much lately it’s driving me insane so any support is very much appreciated.
Rattling informative and wonderful anatomical structure of subject matter, now that’s user friendly (:.
Your article helped me a lot, is there any more related content? Thanks!
Admiring the time and effort you put into your blog and in depth information you provide. It’s great to come across a blog every once in a while that isn’t the same outdated rehashed information. Wonderful read! I’ve saved your site and I’m including your RSS feeds to my Google account.
MyCellSpy es una poderosa aplicación para el monitoreo remoto en tiempo real de teléfonos Android.
Cuando olvide la contraseña para bloquear la pantalla, si no ingresa la contraseña correcta, será difícil desbloquear y obtener acceso. Si descubre que su novio / novia sospecha, es posible que haya pensado en piratear su teléfono Samsung para obtener más pruebas. Aquí, le proporcionaremos la mejor solución sobre cómo descifrar la contraseña de un teléfono móvil Samsung.
Keep up the wonderful piece of work, I read few posts on this website and I think that your web site is very interesting and has got circles of fantastic information.
Thank you very much for sharing, I learned a lot from your article. Very cool. Thanks. nimabi