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Senior Care forum under the aegis of NATHEALTH - Healthcare Federation of India, an apex body representing the ecosystem of the private healthcare sector in collaboration with ASLI, FICCI and MTaI has launched a whitepaper on Catalysing and Reforming Senior Care in India in technical collaboration with PWC.
With an aim to provide the right support & impetus that could help transforming the Indian senior care landscape, the report has highlighted recommendations that are focused around 6 moats:
Regulations & Policy reforms – A single governing body & national mission for senior citizen welfare backed by a national portal for the elderly to place the power of choice in the hands of the consumer.
Financing of care – A mandatory/tax-incentivized health saving plan/scheme from early ages, private health insurance reforms to increase enrolment & provide comprehensive cover for all the aspects of senior care.
Execution of Public Private Partnership model –Identifying areas of for PPP models & a robust framework for PPP could help boost private sector investment, augment public capacity while improving efficiency and facilitate care access to all senior citizens
Capacity building – Workforce & digital infrastructure capacity building to support a growing industry with skilled and trained manpower for provision of highest quality of care to all
Tax Subsidies – Tax impetus to providers & consumers of senior care services & products, the SCWF as a corpus for funding senior welfare & tax benefits to entrepreneurs & start-ups in the space to help development of the space
Active & Healthy ageing - WHO focus on healthy & active ageing & Government of India’s focus on ‘Ageing in Place’ could be supported by creating a home environment, community support system and a larger ecosystem focused on elder welfare, to help the elderly optimize opportunities for living a healthy and productive life while also reducing the cost of care burden.
