The COVID pandemic has posed a challenging scenario for the healthcare sector. As the cases keep piling up each day, there is a mounting pressure on both public and private health care systems to provide the best care possible. As on date, there is no approved treatment protocol or a confirmed vaccine for COVID, and this has led to prolonged hospitalizations and increased mortality. The virus has affected all population groups irrespective of their economic status. The per-day bill for a COVID positive patient is averaging around lakhs rupees in a private setup, and there are no clear guidelines or directives on the pricing of equipment and services. The bigger institutes were able to maintain their financial health by cashing on affordable patients. It is smaller nursing homes and clinics which are hard hit, and have nil revenue during the prolonged lockdown period. Sadly, these smaller clinics are the source of affordable health care for the major population.
It has been also observed for long during the pre-pandemic phase, that the private institutes entertain patients who can pay ready cash and a greater number of beds are allocated for the affordable population group. Advice on unnecessary investigations and treatment procedures have become a norm, where the only purpose is to squeeze as much revenue as possible from the patients. The management is forced to adopt such unethical practices to have a better ROI and meet the increasing costs of medical infrastructure setup. There are a good number of hospitals in distress due to heavy debts and on the verge of closure. This situation has only got worse during the current pandemic.
Hospitalforsalelease.com was started with a novel idea to connect investors to hospitals that are for sale lease. The investors do not have to start from scratch with huge investments to set up a profit-making hospital business, which is not practical in these COVID times. They can buy an already established business at a much lower investment. Much can be saved in terms of infrastructure, training, and not to mention the trust of the existing patient clientele. The sellers, on the other hand, would be able to ward off their loans and mandatory expenses. Further, one may see a positive trend where the patients are not subjected to unwanted investigations, treatment procedures.
Mr. Amrit Pal Singh, Founder & CEO of hospitalforsalelease.com quoted, “Soaring infrastructure costs, medical equipment costs, staff challenges, evolving healthcare regulations, and fewer patient walk-ins have pushed many hospitals out of business. There are pitfalls in the healthcare business where even hospitals with the right medical equipment fail to generate enough revenue to maintain their infrastructure. Revenue shortfalls severely impact the income of the business and hospital management is subjected to high stress and pressure, often leading to bankruptcy and leading to unethical treatment of patients.”
The current pandemic has brought out a unique set of pain points in the healthcare system. We have a good number of qualified health care professionals who are not able to run their clinics and nursing homes. There are a good number of useful medical equipment like ventilators, pulse oximeters, and beds which are unused for months since lockdown. There are bigger hospitals in need of such medical equipment based on the current increased demand. The hospitalforsalelease.com brings together the vulnerable and potential factors to a common platform where one can sell or buy their goods and services. The hospitals can engage with smaller nursing homes and address their logistic requirements. The individual players with small clinics have an opportunity to get back their careers on track and have a regular income. The idea is to ensure that the supply and demand demands are met, and an effective healthcare model is built. There is also a great potential for investors to buy a readymade business model with trained staff and at a revenue much less than that expected for a new start-up.
Founded in 2017, the company has made considerable progress and as on date, there are hospitals from 200 cities onboard, investors from 75 plus cities onboard, and hospital assets worth Rs 8000 crores registered on its marketplace. The highlight of the portal is that hospitals and investors are connected on a single platform; the database is secure and encrypted; free registration and zero per cent brokerage charges. The portal is now renewed with new features, where a PWA is installed and a more mobile user-friendly interface. There are separate modules for sellers, Investors, and service providers. One can choose a package based on the services required and upgrade at a nominal price to do the deal directly at 0% brokerage.
As we know healthcare is an evolving branch and with the discovery of new diseases, rising costs, it is imperative for institutions to provide quality and affordable health care ethically. Hospitalforsalelease.com is one such venture which strives to bridge the gap between the various stakeholders ensuring the sustainability of the existing healthcare infrastructure.