'Alternative financing models can tackle gaps in health sector'

New Delhi, Oct 23 (IANS) There is a need to incorporate alternative financing models to address financial gaps in health sector and to ensure mandatory health coverage for all to support the Universal Health Coverage targets, said a report titled 'COVID-19 Induced Healthcare Transformation in India'.

With a healthcare spending of 1.5 per cent of India's Gross Domestic Product (GDP) in 2018-19, there is a need to increase the public health spending to 2.5-3.5 per cent to support the healthcare transformation, underlined the report released on Friday.

The report has listed six thematic areas that require immediate deliberation and gives actionable recommendations, in view of need for greater investment in enhancing health outcomes and a strategic diversion of funds towards sustaining these outcomes.

The FICCI and KPMG in India report titled 'COVID-19 Induced Healthcare Transformation in India' underlines that the Covid crisis proved to be a catalyst for increased adoption of digital healthcare systems across the world.

The pandemic also paved way for India to demonstrate unprecedented resilience and dynamism in terms of system strengthening and rapid policy making as well as unified efforts by all stakeholders, said the report.

The report deep dives into the major disruptors and technological interventions that were triggered by the pandemic, expediting the approach towards a more affordable, accessible and equitable health system.

Dr. Alok Roy, Chair, FICCI Health Services Committee, said: "The COVID-19 pandemic exposed weaknesses in our health systems and amplified already existing challenges pertaining to gaps in health infrastructure, workforce and accessibility and equity in health services. But at the same time, it also reinforced an urgent need to make greater investments in augmenting health preparedness and quality of care."

The report highlights the health crisis and the subsequent response management in India and how these interventions should not be one-time efforts but should have potential to create long lasting impact on the Indian health system.

Lalit Mistry, Partner and Co-Head - Healthcare Sector, KPMG in India said: "The pandemic has transformed the way the government and private players are planning to bring change in the healthcare system. Success would now lie in how these new initiatives are implemented."

The report underlines a strategic way forward for a more rounded approach to ensuring pandemic preparedness and health systems strengthening.