‘Reverse innovation can address affordability’

Philips Innovation Campus (PIC) organized its digital healthcare conclave 2015 titled, ‘Digital Healthcare: The Next Frontier in Indian Healthcare’, on September 25, 2015, in Bangalore

vishalbali

Mr Vishal Bali, co-founder & chairman, Medwell Ventures

The keynote address was delivered by Dr Diego Olego, senior VP, Philips technology and R&D management; and Mr Vishal Bali, co-founder and chairman, Medwell Ventures.

Mr Bali pointed that healthcare needs has to be on the national agenda.

"It is important to put healthcare sector right in the forefront. It is the need for advances in healthcare for the citizens and the nation. Budget-after-budget we have the same conversation about India spending 1 percent of its GDP for healthcare. Eighty percent of India still pays healthcare costs out of pocket. The moment you make healthcare a national agenda, that is when you create more opportunities to deliver healthcare to the last mile."

Today, 76 percent of all Fortune 500 companies in the world are in the healthcare business.

There are 7,500 healthcare start-ups across the globe, having the biggest forces of disruption in the global healthcare industry.

 

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