Due to a dynamic relationship existing between the health and economy, it becomes important for an owner of a healthcare franchise to consider the good and the bad points of a nation’s healthcare before thinking of choosing it as a business location. Read on....
Health and economy has a vital relationship with each other. They are interlinked with each other – wealthier economies have healthier human resources while poverty and hunger are like a foe of a better health as well as of economy as a whole.
Due to such a dynamic relationship existing between the two, it becomes important for an owner of a healthcare franchise to consider the good and the bad points of a nation’s healthcare before thinking of choosing it as a business location. The South Asian Nation, Nepal is a country has a healthcare system that is vibrant and could be considered as a viable location to start a healthcare franchise.
Consider these points if you are planning to start a healthcare franchise in Nepal.
Government Policies Supporting Healthcare
Nepal has recently become a federal democratic republic nation and the government has been actively working on reforming policies in order to improve the healthcare structure of the country. The key policy principles include: equity in access to health, decentralized delivery of healthcare, community, private and NGO sector’s participation, among others. All of these policies supports better healthcare in the nation and suggests that the country is favorable towards players that could contribute in the better health of people, hence opening opportunities for healthcare franchise owners.
Limited Access of Healthcare Giving Opportunities for Healthcare Businesses
As per reports, more than 80% of the population of Nepal resides in rural areas where access to healthcare services is limited. In the recent years, despite the steps taken by the government in the improvement of healthcare provision, the state is not enough to meet the demand of the general public. This limitation of the access gives opportunities to entrepreneurs in healthcare business. With a heavy demand of adequate infrastructure, trained medical professionals and supply of basic life saving medicines, starting a healthcare franchise in Nepal seems to be a profitable option.
Private Sector Becoming an Integral part of Country’s Healthcare system
As mentioned above, the country’s public sector has not been able to fulfill the demand of the public in recent years. Therefore, private sector has emerged into an integral source of healthcare in the country. According to reports, the private sector, with an investment of 5-6 billion and 15000 human capital, has established half of the existing hospitals and provides almost double the numbers of beds as compared to those from government and provides services to 50 percent of total patients.
As the private sector is receiving the appreciation of contributing in the healthcare system of Nepal, it makes the country a good place to operate a healthcare franchise.
Nepal’s Healthcare Upgrading in terms of Technology
In lieu of the increasing numbers of global chronic diseases, emerging health threats, and increasing healthcare costs, private and public healthcare players are adopting various healthcare innovations such as Next-Generation Sequencing, 3-D Printed devices, Immunotherapy, Artificial Intelligence among others. All of these innovations create opportunities for healthcare players to enter in the country’s healthcare system and create a rosy picture of healthcare scenario in the country. Therefore, healthcare franchise businesses that are enabled with technological advancements are eyeing to start their franchise in Nepal.
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