A Study On Financial Decisions In Healthcare

Sector
A Summer Training Project Report Submitted in partial fulfillment of
the requirements for the Award of degree of Masters of Business
Administration

2022-2024

Submitted By: Guided By:

Miss. Veenu Gupta

Mayank Dureja

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 DECLARATION

I, Mayank Dureja, the undersigned solemnly declare that the report of the project
work entitled “A Study on demand of finance in Healthcare Sector”is based on my
own work carried out during the course of my study under the supervision &
guidance of Miss. Veenu Gupta.

I declare that the statements made & conclusions drawn are an outcome of my
project work. I further declare that to the best of my knowledge & belief the project
report does not contain any part/work which has been submitted for the award of any
other degree/diploma/certificate in this University or any other University.

MAYANK DUREJA

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 CERTIFICATE OF THE GUIDE

This is to certify that the Summer Training Project Report Titled “ A Study On
Financial Decisions in Healthcare Sector”

Submitted to Bharati Vidyapeeth (Deemed to be University) Institute of

Management and Research, New Delhi in partial fulfillment of the requirement for
the award of the MBA is an original work carried out by “MAYANK DUREJA ”
under my guidance. To the best of my knowledge and belief the matter embodied in
this project is genuine work done by the student and has been submitted neither to
this University nor to any other University for the fulfillment of the requirement of
the course of study.

Miss Veenu Gupta

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 CERTIFICATE FROM THE DIRECTOR

This is to certify that the Project titled“ A Study On Financial Decisions in

Healthcare Sector” is an academic work done by “MAYANK DUREJA” submitted
in partial fulfillment of the requirement, for the award of the Degree of Course, from
Bharati Vidyapeeth (Deemed to be University), Pune. It has been completed under
the guidance of Miss Veenu Gupta (Faculty Guide). We are thankful to
Bajaj Health , for having allowed our student to undergo project work training. The
authenticity of the project work will be examined by the viva-voce examiner, which
includes data verification, checking duplicity of information etc., and it may be
rejected due to non-fulfillment of quality standards set by the Institute.

Dr. Yamini Agarwal

Director

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 Certificate from the

Company/Organization
This is to certify that Mayank Dureja, son/daughter of Mr. Gulashan Kumar pursuing
MBA from Bharati Vidyapeeth Deemed University Institute of Management and
Research, New Delhi has successfully completed Project Report in our organization
on the topic titled “ A Study On Demand Of Finance in Healthcare Sector “from 24 th
May 2023 to 23rd July 2023. During his/ her project tenure in the organization/
company, we found him/ her hard working, sincere and diligent person, and his/ her
behavior and conduct was good during the project. We wish him/her all the best for
his/ her future endeavors.

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 ACKNOWLEDGEMENT

I am highly indebted to Miss Veenu Gupta, for his valuable inputs at the various
stages of the project and for providing valuable advice in designing and
implementing various research tools to collect relevant data.

I am thankful to the entire team of Bajaj Health who provide their valuable
suggestions and precious time in accomplishing my project report.

I am thankful to those individuals who gave in their precious time in filling the
questionnaire and providing their immense cooperation without which the project
would not have been possible.

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 INDEX
SR.NO TOPIC PG.NO

1 Ch.1: Introduction 9 - 26

2 Ch.2: Research 27 - 32
Methodology
3 Ch.3: Conceptual 33 - 40
discussion
4 Ch.4: Data Analysis 41 - 52

5 Ch.5: My 53 - 55
Contribution to the
body of knowledge
6 Ch.6: Findings, 56 – 60
Conclusions $
Solutions
7 Ch.7: Summary of 61 – 67
the project

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 CHAPTER- 1
INTRODUCTION

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1.1 Overview of Industry as whole
Certainly! The healthcare industry is a vast and essential part of our society that focuses on helping
people stay healthy and providing medical care when they are sick or injured. It is a complex and
interconnected system made up of various organizations, professionals, and technologies working
together to promote, maintain, and restore people's health.

The healthcare industry is like a giant puzzle with many pieces that come together to keep us
healthy. It includes places where we go when we're not feeling well, like hospitals and clinics,
where doctors and nurses take care of us. There are also companies that make medicines and
treatments to help us get better, called pharmaceutical companies. We often pay for our medical
care with health insurance, which is like a safety net that helps cover the cost.

The healthcare industry is like a giant puzzle with many pieces that come together to keep us
healthy. It includes places where we go when we're not feeling well, like hospitals and clinics,
where doctors and nurses take care of us. There are also companies that make medicines and
treatments to help us get better, called pharmaceutical companies. We often pay for our medical
care with health insurance, which is like a safety net that helps cover the cost.

Behind the scenes, scientists and researchers are always working to discover new ways to treat
diseases and keep us healthy. They might create new drugs or find better ways to do surgeries. The
healthcare industry also relies on fancy machines and technology, like X-ray machines and
electronic records, to help doctors and nurses do their jobs.Our governments play a role too,
making sure that the medicines and treatments we use are safe and effective. There are also people
who focus on preventing diseases through things like vaccination and health education.

But it's not just about professionals and organizations; it's about us, the patients, too. We make
choices about our health and work together with healthcare professionals to stay well. The
healthcare industry is also facing some challenges, like how to make healthcare more affordable
and accessible to everyone. In different countries, healthcare works in different ways.

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Some have a system where everyone gets healthcare, while in others, it's more about private
insurance. Technology is changing things too, with virtual doctor visits and cool health gadgets.
So, the healthcare industry is like a big, important team effort to keep us healthy and happy.

The healthcare industry is a vast and intricate system that revolves around our well-being. Think
of it as a giant web, where each part plays a crucial role. First, there are places like hospitals and
clinics, where we go when we're sick or need medical help. Inside these places, you'll find doctors,
nurses, and other healthcare professionals who diagnose our illnesses and provide treatment. But
healthcare isn't just about treating illnesses; it's also about preventing them. Scientists and
researchers work tirelessly to discover new medicines, therapies, and vaccines that help us stay
healthy. These breakthroughs often come from pharmaceutical companies, which create the drugs
and treatments that doctors prescribe.

To make healthcare more affordable and manageable, many people rely on health insurance. It's
like a safety net that covers the costs of our medical care. Behind the scenes, governments have a
hand in regulating healthcare to ensure that medicines and treatments are safe and effective.

To make healthcare more affordable and manageable, many people rely on health insurance. It's
like a safety net that covers the costs of our medical care. Behind the scenes, governments have a
hand in regulating healthcare to ensure that medicines and treatments are safe and effective.

However, the healthcare industry isn't just about professionals and organizations; it's about us, the
patients. We make choices about our health, from eating well to getting regular check-ups. We
work together with healthcare professionals to manage chronic conditions and stay well.

Different countries have different ways of providing healthcare. Some have systems where
everyone gets medical care, while others rely more on private insurance. Technology is also
shaking things up, with virtual doctor visits becoming more common, and wearable health devices
helping us keep tabs on our well-being.

Despite its complexities, the healthcare industry is a vital team effort to keep us healthy and happy.
It's about caring for our bodies and minds, finding ways to prevent and treat illnesses, and making
healthcare accessible to all. So, whether you're a doctor in a hospital, a scientist in a lab, or someone
making healthy choices at home, you're part of this essential web of healthcare.

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Let's delve even deeper into the various aspects of the healthcare industry. Imagine the healthcare
industry as a vast ecosystem, where different elements work together to ensure our well-being. At
its core, we have healthcare providers like hospitals, clinics, and medical professionals. Hospitals
are like the central hubs, equipped to handle a wide range of health issues, from emergencies to
complex surgeries. In clinics, you'll find doctors who specialize in various fields, like primary care,
dentistry, and women's health, providing essential care and guidance.

Within this healthcare ecosystem, there's a symphony of healthcare professionals, each with their
unique role. Physicians, including family doctors and specialists like cardiologists and
neurologists, diagnose and treat specific medical conditions. Nurses, on the other hand, are the
backbone of patient care, administering medications, monitoring vital signs, and ensuring comfort
during hospital stays.

The pharmaceutical sector is like the magic factory behind the scenes. Pharmaceutical companies
invest heavily in research and development to discover new drugs and treatments. These
breakthroughs bring hope and healing to countless patients worldwide, from antibiotics that
combat infections to cutting-edge therapies targeting cancer.

1.2 Healthcare Industry

In this vast healthcare world, there are also other important people and things. Imagine nurses as
caring guides on your healthcare journey, helping doctors and making sure you're comfortable
when you're at the hospital or clinic. Pharmacists are like medicine experts, making sure you get
the right pills and explaining how to take them. There are also therapists who help with things like
physical therapy to recover from injuries, and mental health professionals who support our
emotional well-being.

The healthcare industry isn't just about fixing problems; it's also about preventing them. So, we
have health experts who teach us about eating well, exercising, and avoiding things that can make
us sick. These experts work to keep us healthy before we even get sick.

Sometimes, the healthcare industry faces challenges, like how to make healthcare affordable for
everyone and how to use new technology in the best way. But it's always evolving, with new
discoveries and inventions making healthcare better and more accessible for all of us. So, whether

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it's the doctors and nurses caring for us, the researchers finding cures, or the everyday choices we
make for our health, we all play a part in this important world of healthcare.

1.3 Problems of the Industry

The healthcare industry faces several significant challenges that impact patients, providers, and
the entire system. One of the most pressing issues is the high cost of healthcare. Medical treatments
and insurance premiums can be expensive, making it difficult for some people to access necessary
care. Additionally, the rising cost of prescription drugs is a concern for many patients.Access to
healthcare is another challenge. In some regions, there may be a shortage of healthcare providers,
leading to long wait times and limited access to specialists. This issue is particularly concerning
in rural areas.

The complexity of healthcare billing and insurance systems is a major source of frustration for
both patients and providers. Understanding medical bills, insurance claims, and navigating the
bureaucracy can be overwhelming.Healthcare disparities also persist, with some groups facing
unequal access to quality care based on factors like race, income, and geography.

1.3.1 Contribution of Healthcare Industry in India’s GDP

The central and state governments’ budgeted expenditure on healthcare sector touched 2.1 % of
GDP in FY23 and 2.2% in FY22, against 1.6% in FY21, as per the Economic Survey 2022-23
tabled in Parliament by finance minister Nirmala Sitharaman.

The Survey said that the increase in the share of expenditure on health in total expenditure on
social services, which has risen from 21% in FY19 to 26 % in FY23 (BE), underscores the rising
importance of public healthcare and social security in ensuring universal health coverage.

While social security expenditure on health increased from 6% in FY14 to 9.6% n FY19, the
Economic Survey indicated that out of-pocket expenditure (OOPE) as a percentage of total health
expenditure has declined substantially from 64.2% in FY14 to 48.2% in FY19 reflecting better
access to healthcare facilities for citizens.

The healthcare sector in India contributed to around 3-4% of the country's GDP. This contribution
includes various segments of the healthcare industry, such as hospitals, pharmaceuticals, medical

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devices, health insurance, and healthcare services. The healthcare sector has been growing steadily
due to factors like increased healthcare awareness, rising healthcare spending, and the expansion
of private healthcare services.

1.3.2 Total Employees in Healthcare Industry

The study estimated (from NHWA 2018) a total stock of 5.76 million health workers which
included allopathic doctors (1.16 million), nurses/midwives (2.34 million), pharmacist (1.20
million), dentists (0.27 million), and traditional medical practitioner (AYUSH 0.79 million).

1.3.3 Challenges faced by Healthcare Industries

The healthcare industry faces various challenges globally, and these challenges can vary from one
region or country to another.

• Rising Healthcare Costs:

Healthcare costs have been consistently rising, making it difficult for individuals and
governments to afford quality healthcare. This includes the cost of medical procedures,
prescription drugs, and health insurance premiums.
• Healthcare Inequality:
Disparities in healthcare access and outcomes based on factors such as income, race, and
geography remain a significant challenge. Achieving healthcare equity is an ongoing
concern.
• Aging Population:
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 In many countries, the aging population is increasing, which puts additional strain on
healthcare systems as elderly individuals typically require more medical services and long-
term care.

• Healthcare Workforce Shortages:

There is a shortage of healthcare professionals in various specialties, including doctors,
nurses, and allied health workers. This shortage can lead to increased workloads, burnout,
and reduced access to care.
• Technological Advancements:
While technology can improve healthcare, it also poses challenges related to data security,
interoperability of electronic health records, and the ethical use of emerging technologies
like AI and telemedicine.
• Healthcare Data Management:
Handling and protecting patient data are critical, and healthcare organizations need to
invest in robust cybersecurity measures to safeguard sensitive information.
• Mental Health Crisis:
Mental health issues are gaining recognition as a significant healthcare challenge, and
many healthcare systems are struggling to provide adequate mental health services.

The healthcare landscape is continually evolving, and new challenges may have
emerged.Additionally, the impact of the COVID-19 pandemic has brought some of these
challenges to the forefront and may have accelerated changes in the healthcare industry.

1.3.4 Global Practices in healthcare Industry

The healthcare industry is a diverse and dynamic sector that varies significantly from one country
to another due to differences in healthcare systems, cultural norms, and economic conditions.
However, there are some global practices and trends that have gained prominence in the healthcare
industry worldwide. Here are several key global practices:
• Universal Healthcare Coverage:

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 Many countries are striving to achieve universal healthcare coverage, aiming to ensure that
all citizens have access to essential healthcare services without financial hardship. This
often involves a mix of public and private healthcare providers.
• Value-Based Care:Healthcare providers are increasingly shifting from a fee-for-
service model to a value-based care model. This approach focuses on delivering high-
quality care with an emphasis on outcomes and cost-effectiveness.
• Universal Healthcare Coverage:
Many countries are striving to achieve universal healthcare coverage, aiming to ensure that
all citizens have access to essential healthcare services without financial hardship. This
often involves a mix of public and private healthcare providers.
• Preventive Healthcare:
There is a growing emphasis on preventive healthcare measures, including vaccination
programs, screenings, and health education, to reduce the burden of chronic diseases and
improve overall health outcomes.
• Patient-Centered Care:
The concept of patient-centered care is gaining traction, emphasizing the importance of
involving patients in their care decisions, respecting their preferences, and addressing their
unique needs.

1.4 Company Description

Bajaj HealthCare Limited, An Indian and multinational pharmaceutical firm, conducts research,
develops, produces, and distributes amino acids, dietary supplements, and active pharmaceutical
ingredients (APIs) for the pharmaceutical, nutraceuticals, and food industries. The product
portfolio of the company consists of a variety of APIs in the therapeutic categories of anti-diabetic,
antibiotic, antiviral, antiplatelet, antifungal, antihelmintic, iron-chelating agent, anticonvulsant,
growth stimulant, non-steroidal anti-inflammatory drugs, anthelmintics, anti-asthmatic,
antioxidant, urinary tract infection, anti-histamine, weight reducing, venous disease, antimalarial,
vitamin It offers oral powder, tablet, and capsule forms as well as intermediates and impurities. Based
in Thane, India, Bajaj HealthCare Limited was established in 1993. In order to fulfill the demands

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of both established and emerging market opportunities, the company has four units for
APIs/intermediates and one unit for formulation. Customers from both domestic and foreign
countries have remained loyal to Bajaj Healthcare over its brief existence.
Bajaj Healthcare Limited think that giving back to society is both a responsibility and a
commitment on the part of our business. Our mission, in keeping with our dedication to human
health, includes our small contribution to society's improvement.
Our corporate philosophy is built on social responsibility. We aim to improve health, safety, and
environmental standards, lessen inequality among socially disadvantaged groups by providing
necessary help and assistance, ensure accountability, boost the positive effects of our operations,
and lower potential material risk.

1.4.1 History of Bajaj Health

On July 15, 1993, the Company was incorporated as Bajaj Healthcare Pvt. Ltd. under the
Companies Act, 1956, and was assigned the registration number 072892 by the Registrar of
Companies in Mumbai. By a special resolution issued on March 15, 2005, the Company's status
was changed to public limited company, and its name was changed to Bajaj Healthcare Ltd.

The Registrar of Companies in Mumbai issued the Company a new certificate of incorporation as
a result of the name change on March 31, 2005. The corporate identity number of the company is
U99999MH1993PLC072892. The company, Bajaj Healthcare Limited, is a pharmaceutical
manufacturer and marketer with expertise in Active Pharmaceutical Ingredients (APIs),
Intermediates, and Finished Dosage Formulations (FDFs), with a focus on vitamins, amino acids,
and other nutritional supplements.

NSAIDs, vitamins and their derivatives, anti-convulsants, anti-diabetes, anti-platelets, anti-

malarial, anti-hypertensive, anti-bacterial, anti-malarial, and other medications. The product
portfolio of the company comprises of APIs and FDFs that will be offered in domestic and foreign
markets as branded generics. This production is combined from the API facilities and the
Formulation unit. At the moment, we export and supply APIs and FDFs to several nations in
regions like Europe, the United States, Australia, Africa, and South America.

We have developed a solid relationship with the customers for both APIs and FDFs thanks to our
long-standing operations and high-quality products. Pharmaceutical firms from both domestic and
foreign markets, such Glaxo Smithkline Consumer Healthcare Ltd., are some of the key customers.

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To assist technology transfer for new products and on-site process improvement, we have an
internal R&D facility at the Tarapur, Savli, and Manjusar manufacturing units as well as a
dedicated QC/QA & microbiology laboratory in all the Units.

1.5 Profile of the Industry

Basic Information
Nature of business Manufacturer
Additional business Insurance, Finance
Company Ceo Devang Mody
Registered Address 602-602 Bhoomi Velocity Infotech Park Thane West Maharashtra-
400604

Total no. of Employees 2001-5000 Employees

Legal Status Of Firm Public Limited
Year of Establishment 1993
Annual Turnover 500 cr

1.5.1 Vision:
Combining excellence, innovation, and client satisfaction.At Bajaj Healthcare, our goal is to
dominate the production of API and pharmaceuticals while maintaining the highest levels of
technical expertise and quality.
Our goal is to supply our customers with items that are affordable, of dependable quality, and have
a short lead time. To cultivate enduring connections with our clients and provide superior products
and services.

1.5.2 Mission
• By offering high-quality and reasonably priced products, our objective is to become a
major global player and a leading pharmaceutical firm in India.
• Dedication to innovation and constant improvement.
• To create environmentally responsible systems.

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 • Helping to improve healthcare through innovation.

1.5.3 Values
1. Company put employees first
2. It values the customers
3. It encourages ideas, innovation,excellence, organization and teamwork in employees.
4. It constructs a work subculture primarily based on merit , integrity, & transparency.
5. It behave responsibly as a corporate citizen.

1.6 Unique Selling preposition

They have established a strong presence in the industry due to the high quality of the product line
they offer. They provide goods that are in line with industry standards and sell them for very
reasonable prices. The hired pros devote a lot of their long workdays to producing goods that are
precise to the needs of the customers and adhere to their demands.
The following are the elements that helped make the project successful:
1. Quality & Competence
2. Team work
3. Passion for Excellence
4. Timely Delivery
5. Performance

1.7 Major Competitors

Sun Pharmaceutical Industries Ltd.

One of the top pharmaceutical firms in India and a significant player in the global
pharmaceutical market is Sun Pharmaceutical Industries Ltd. Dilip Shanghvi founded Sun
Pharma in 1983, and since then it has developed into one of the world's leading producers of

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 generic medications and the largest pharmaceutical company in India by market value. The
business has its headquarters in Mumbai, India, and works in a number of therapeutic fields,
including dermatology, gastrointestinal, psychiatry, and neurology, among others.

Sun Pharma is well known for its emphasis on research and development (R&D), investing
continually in innovation to provide a wide selection of premium, reasonably priced generic
medicines to patients all over the world. The corporation has a significant international
presence through subsidiaries, joint ventures, and strategic partnerships, with a global footprint
spanning over 150 countries.

Dr. Reddy’s Laboratories Ltd.

A well-known and prominent pharmaceutical company with a significant influence in the

pharmaceutical sector, Dr. Reddy's Laboratories is located in Hyderabad, India. Dr. Anji Reddy
founded the business in 1984, and since then it has developed into a reputable name in the creation,
production, and marketing of many different pharmaceutical goods and active pharmaceutical
ingredients (APIs).

The reputation of Dr. Reddy's Laboratories stems from its dedication to innovation and research-
driven methodology. The business has an active research and development (R&D) program that
focuses on creating both generic and branded drugs. This emphasis on innovation has produced a
large number of high-quality and reasonably priced medications that are used to treat a wide range
of medical disorders in therapeutic fields like cardiology, cancer, neurology, gastrointestinal, and
dermatology.

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Dr. Reddy's provides services to consumers and healthcare providers all over the world with its
presence in more than 25 countries and extensive network of subsidiaries and marketing alliances.
The company has a solid reputation in the pharmaceutical industry thanks to its commitment to
quality and regulatory compliance.

Divi's Laboratories Ltd

Active pharmaceutical ingredients (APIs) and intermediates for the pharmaceutical and healthcare
sectors are the focus of Divi's Laboratories Ltd., a well-known and internationally renowned
pharmaceutical firm with its headquarters in Hyderabad, India. Dr. Murali K. Divi founded the
business in 1990, and since then it has become a leader in the manufacturing of APIs and is
renowned for its dedication to quality, innovation, and sustainability.

In order to manufacture high-quality APIs and intermediates, Divi's Laboratories places a great
emphasis on research and development and makes major investments in cutting-edge technologies
and procedures. The business runs a number of cutting-edge production facilities that abide by
strict quality standards and legal requirements. Due to its dedication to quality, Divi's Laboratories
has received numerous certifications and approvals from international regulatory bodies.

1.8 Product and services Portfolio

1. Intermediates 2. API

3. Bajaj Emi Financing

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4. Bajaj Health Card etc.

1.9 SWOT Analysis of Bajaj Health

SWOT ANALYSIS: A strategic planning tool called a SWOT analysis is used to assess an
organization's or a particular situation's Strengths, Weaknesses, Opportunities, and Threats. It
offers a methodical means to evaluate internal and external elements that may have an impact on
a project's, company's, or strategy's success or failure.

To acquire a thorough grasp of the present situation and the prospects for the future, it necessitates
an organized study of these four important factors. While opportunities and threats are related to
external elements like market trends, competition, and regulatory changes, strengths and
weaknesses are related to internal factors like resources, capabilities, and constraints.
Organizations can design strategies to take advantage of strengths, address weaknesses, seize

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opportunities, and minimize dangers by recognizing these components, which will ultimately serve
as a guide for their decision-making and business planning processes. SWOT analysis is a flexible
and popular tool used in a variety of sectors that helps with the creation of informed plans to
accomplish organizational objectives and keep competitiveness.

1. Strength: Internal qualities and traits known as strengths give a project, organization, or person
a competitive edge or a favorable position in attaining their goals. These advantages may include
a variety of things, including but not limited to knowledge, assets, and advantageous traits. A
strong financial position, a skilled and experienced team, cutting-edge technology, a well-known
brand, and effective operating procedures are just a few examples of an organization's strengths.

2. Weakness :. Weaknesses are intrinsic traits and features that an organization, project, or person
possesses that represent constraints, drawbacks, or potential improvement areas. Finding
vulnerabilities is essential since it enables a realistic evaluation of internal issues and potential
problem areas. There are many different types of weaknesses, including a lack of resources,
outmoded technology, ineffective procedures, skill shortages in the workforce, subpar
management techniques, and vulnerabilities in the stability of the financial system.

3. Opportunity: Opportunities are external factors and conditions that an organization can exploit
to its advantage. Recognizing opportunities allows organizations to leverage external trends and
circumstances.

4. Threat: Threats are uncontrollable, outside forces that could possibly obstruct progress, disrupt
operations, or pose risks to a project, organization, or people. These external factors indicate
difficulties and weaknesses that must be recognized and evaluated in order to create mitigation
methods that are efficient. Threats might include a variety of elements, including pressure from
competitors, economic downturns, changes in regulations, interruptions in technology, natural
disasters, or changes in consumer behavior.

1.9.1 SWOT Analysis

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Strength Weakness
• Strong Momentum: Price above short, • Degrowth in Revenue and Profit
medium and long term moving averages • Decline in Net Profit with falling Profit
Margin (QoQ)
• Company with Zero Promoter Pledge • Decline in Quarterly Net Profit with
• Near 52 Week High falling Profit Margin (YoY)
• Stock gained more than 20% in one • Declining profits every quarter for the
month past 3 quarters
Opportunity Threat
• High Momentum Scores (Technical • Attractive marketing or representation of
Scores greater than 50) product by the competitor.
• Stock with Low PE (PE < = 10) • Competitor have a greater number of
• RSI indicating price strength Products to represent them better
• Stocks near 52 Week High with Than our firms.
Significant Volumes • Reach out to the very large no of
• Insiders bought stocks Customers.
• Successfully reach out to the targeted
customer or intentional customer.

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1.9.2 After analysis of swot here I can give some solution to the firm based on
my view

• Try to add more details about the particular product and introduce some new products.
• An expert should make the representations, and he should display the representation
purpose
• Try to connect with new clients.
• Keep an eye on your competition, both in terms of what they are doing and what they plan
to accomplish. Try to compete with the rival in a legitimate way.
• Product design and graphics may be improved. A few informative movies that are valuable
might enhance the user experience.

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 CHAPTER- 2

RESEARCH METHODOLOGY

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INTRODUCTION

The methodical and organized strategy used to examine various facets of healthcare with the
intention of producing insightful and useful knowledge is known as research methodology in
the healthcare sector. It includes a variety of study designs, data collection strategies, and
analytical approaches that are used to answer important healthcare-related problems.
Healthcare research technique is crucial for improving patient care, expanding medical
knowledge, and raising the overall quality of healthcare services. It is used to study illness
genesis, evaluate therapy effectiveness, assess healthcare delivery, and guide policy decisions.
Integral parts of this research process include ethical considerations, interdisciplinary
cooperation, and the publication of findings in peer-reviewed journals.

STATEMENT OF THE PROBLEM

The "Statement of the Problem" is an essential component that describes the core problem or
difficulty you want to research. This succinct statement provides context and clarity for your
project by clearly outlining the particular issue or subject that your research attempts to answer.
A description of the relevance of the issue for the healthcare sector, its effects on patients,
healthcare professionals, or healthcare systems, and any pertinent statistics or data that show
the issue's scale and impact should all be included. The "Statement of the Problem" essentially
establishes the context for your entire project, directing your research goals and assisting you
in explaining to your audience why this issue warrants further study. It offers a strong
justification for the significance of your work in improving healthcare services, patient
outcomes, or healthcare policy in a real and significant way. The "Statement of the Problem"
is a crucial part of every research study in the healthcare industry. By stating the problem or
topic that has to be investigated in detail, it acts as the lighthouse that directs the research
process. Essentially, it is the beginning that gives your project direction and purpose.

It is crucial to convey a thorough comprehension of the issue you're addressing in your remark.
This entails describing the problem in detail as well as highlighting its importance. Explain
why this specific issue is significant in the context of healthcare. For instance, if your project
focuses on an illness that is becoming more prevalent, you might talk about the possible effects
on public health, the strain it puts on healthcare systems, or the suffering it causes sufferers.

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Additionally, it can be very effective to support your claim using facts or figures. By
quantifying the problem and illustrating its scope and urgency, statistics and trends can be
used. Additionally, they offer a framework for comparison when evaluating the effectiveness
of your suggested interventions or solutions in the future.

OBJECTIVES OF STUDY

The objectives are made to provide the research a specific direction, such as which aspect of
the subject will be studied. A topic can be examined using several criteria, depending on the
goals. created for a project provides insight on how the subject is researched, the project's flow,
the variables chosen for the project, etc.

• To Study the current funding needs for healthcare institutions like hospitals, clinics,
and medical facilities.
• To Analyze the effects of the healthcare industry's financial demand on the standard
and accessibility of patient care.
• To draw insights about healthcare organizations on how to manage and allocate their
finances more effectively based on your results.

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 SCOPE OF STUDY
The geographic, temporal, and thematic components of your study are all included in your research
scope. Taking into consideration historical trends or present-day financial needs, you may decide
to concentrate on a certain region or nation's healthcare system. Whether hospitals, clinics, or other
healthcare facilities are being considered, the scope should specify the sorts of healthcare
organizations that will be taken into account. It should also include the important parties involved,
including the administrators, policymakers, financial managers, and healthcare providers whose
viewpoints you intend to study.

It is important to clearly specify the financial components that will be examined, such as operating
budgets, funding sources, cost structures, and regulatory implications. The scope might include
look at how financial pressures affect patient care, with the possibility of making projections for
the future based on the results. By defining the scope, you can guarantee that your research will be
scientific and focused, and you'll also be able to explore the complicated and dynamic link between
finance and the healthcare industry inside a well-defined framework.

TYPE OF STUDY

Studies that are descriptive, exploratory, historical, empirical, qualitative, or quantitative are just
a few of the numerous types of research that are available. In order to accomplish its objectives,
this research has used a descriptive study. To describe the characteristics of the population under
research, the descriptive study method is commonly used investigation. The descriptive study's
main goal is to give a "what" answer as opposed to a "why" response. Because it focuses a heavy
emphasis on specific sorts of questions, strategies, and data outcomes, descriptive research was
chosen. The best part about descriptive research is that it may study both qualitative and
quantitative elements, obviating the need for separate research on each one. As a result, the study
may also include tables, graphs, and numerical data in addition to physical qualities.
Anthropologists usually,Descriptive research is used by social scientists and psychologists.
However, given that this research is both descriptive and pure research, we may argue that it is a
hybrid of the two. Because all project work is done directly from the source, descriptive research
is only used to understand the subject. However, my research does include a survey of the as the

29
basis of a descriptive study literature. The significance criterion used to achieve this is 5% because
a descriptive study is examined at the same level as the validity of my research..

SAMPLE SIZE

The process of determining the number of responders observation to include in a statistical sample
is known as sample size determination. It is a crucial component of a research project because it
determines how much data is gathered, analyzed, and used to produce conclusions that are reliable
and useful. The study included a sample of 118 individuals. A total of 118 participants were
recruited for the study.

SAMPLE DESIGN

Pie charts and bar graphs are used to illustrate the survey data. The pie charts are based on the
survey respondents. The replies were collected via probability sampling, which is how the bar-
charts were created. To choose a representative sample from the study's target population, we used
the basic random sampling technique. By giving every person of the population an equal and
independent chance of being included in the sample, this strategy ensures that the sample is
representative of the population's diversity and is unbiased.

Data collection method:

Both primary and secondary sources were used to gather the study's data.

1. PRIMARY SOURCE OF DATA COLLECTON-

A survey served as the main tool for gathering data. A structured questionnaire that was
constructed with the study objectives and the considerations to be made in mind served as the basis
for this survey. The form of the questionnaire makes it simple for the respondents to grasp. The
questionnaire has a single format to help respondents save time. Most of the questions are closed-
ended, allowing respondents to quickly choose one of the provided options while completing the
survey.

2. SECONDARY SOURCE OF DATA COLLECTION-

30
In order to gain understanding and information about the research problem that another researcher
may have previously mentioned, secondary data collecting involves evaluating the data that has
already been collected. The term "secondary data collection" refers to what has already been said
and how much more research potential there is. Secondary information is gathered from particular
websites and publication of certain scholars' work online. The review of the literature benefited
from these secondary data. We had the opportunity to examine various features of numerous
researchers. This gave us a better understanding of the prior components and the conclusions
drawn from them. This gave us a better notion of what additional research we could conduct to
address our research issue.

LIMITATION OF THE STUDY-

The study includes various flaws that must be taken into account in order to properly assess the
outcomes. When analyzing the results, the following restrictions should be kept in mind:

• The recommendations are subject to time and money restrictions.

• There may have been a few errors due to sampling's limitations.
• Bias among respondents may result in errors.
• The sample size wasn't large enough to support making conclusive findings.

The questionnaire was designed to elicit progressively more in-depth replies from each target
participant. Because neither the present nor the descriptive question could have achieved the
desired result. As a result, the questionnaire includes open-ended questions.

Within the healthcare industry, the reliability and accessibility of financial data can be a serious
hindrance. The financial data given by some healthcare organizations may not be complete or
current, or it may not be disclosed at all.

31
 CHAPTER- 3

CONCEPTUAL DISCUSSION

32
 LITERATURE REVIEW

In order to assure the delivery of high-quality care, technology improvements, and infrastructural
growth, the healthcare sector is a complex and dynamic industry. Understanding the body of
literature already in existence that examines the financial facets of the healthcare industry is crucial
as you begin this study. You can find knowledge gaps, learn about current trends and problems,
and ultimately inform your research methods and goals by conducting a literature study. You can
learn more about the causes influencing healthcare financial demands, the approaches taken to
meet them, and the possible effects on healthcare services, patients, and stakeholders by digging
into past and present studies.

This review of the relevant literature will not only set the scene for your project but also guide
your decision-making and advance knowledge of the complex financial issues facing the
healthcare industry as a whole.

The healthcare industry is a crucial pillar of contemporary society, charged with the crucial duty
of preserving and enhancing the well-being of people. As it directly influences the quality,
accessibility, and sustainability of healthcare services, the financial component of healthcare is of
significant concern. The literature study is a crucial tool for comprehending the complex nature of
the financial needs in this industry.

You can first follow the historical development of financial dynamics in healthcare by doing a
literature review. This historical background can shed important light on how finance structures
and regulations have evolved to meet the sector's changing needs. Finding the critical junctures
and turning points that have defined the healthcare industry's financial landscape can also benefit
from an examination of past research and publications.

Additionally, the literature analysis will let you investigate the intricate interaction of factors
influencing the demand for financial support in the healthcare industry. These elements could
include escalating medical expenses, improvements in medical technology, demographic changes,
and a growth in the prevalence of chronic diseases. For the purpose of developing your study's
research questions and hypotheses, it is essential to comprehend these determinants.

33
You will also get an overview of the strategies and policies that healthcare organizations,
governments, and international organizations have used to address financial difficulties via the
evaluation of available research. With this knowledge, you'll be able to spot effective strategies,
opportunities for development, and cutting-edge tactics for meeting financial demands in the
healthcare industry.

REVIEW OF LITERATURE

• In-depth research was done on the impact of population aging on healthcare spending by
Smith and colleagues. The study, which was released in 2014, emphasizes the urgent
problem of an aging population and its significant effects on healthcare financing.
Healthcare systems must find ways to meet the specific medical requirements of senior
populations as the population ages. The demand for healthcare services has significantly
increased as a result of longer life expectancies. This in turn has significant cost
ramifications, needing careful financial planning to guarantee that healthcare systems can
sustainably meet these evolving demands.
• Johnson and Brown( 2016) investigated the financial impact that chronic diseases place on
healthcare systems in their research. Chronic diseases such as diabetes, heart disease, and
cancer not only increase healthcare expenses but also diminish quality of life and
productivity. For the allocation of healthcare resources and preventive measures, it is
essential to comprehend the financial effect of various diseases. The study emphasizes the
value of spending money on early detection and intervention in order to reduce future
medical expenses.
• Anderson and Williams (2018). This study illustrates how healthcare professionals are
motivated by value-based payment schemes to provide high-quality care while keeping
costs in check. These models seek to increase the effectiveness and efficiency of healthcare
delivery by tying payments to patient outcomes. By focusing on the particular financial
effects and difficulties of establishing value-based payment systems within the healthcare
industry, your study can expand on this research.
• Lee and Patel (2019), they examined how health insurance can help patients with their
financial burdens. They underlined the significance of complete coverage to make sure that
people may get healthcare without having to pay astronomical out-of-pocket costs. A

34
 important area that your research can examine is the effectiveness of various health
insurance arrangements and their impact on healthcare demand and budgetary
sustainability.
• Chen and Kim (2020), explores the financial effects of telemedicine adoption in the
healthcare industry. This study is particularly pertinent given the rising use of telehealth
services. The study emphasized both new financial difficulties and possible cost reductions
associated with the increasing use of telemedicine. The continuous financial changes in
healthcare brought on by telemedicine, including investment costs and the effect on patient
billing, can be the subject of your research.
• Walker and Garcia( 2021) looks at creative healthcare finance strategies. It focuses on
unconventional forms of financing such social impact bonds, crowdsourcing, and public-
private partnerships. The study emphasizes how these methods could diversify and
improve healthcare financing. Your research can delve deeper into the practicality and
efficacy of these ground-breaking strategies, illuminating how they affect the need for
healthcare financing.
• Xu and Zhang( 2021), is focused on patient-centered financial solutions in healthcare. It
looks at how patient financial literacy, open billing systems, and customized payment
schedules can affect patient financial wellbeing and healthcare demand. By examining
patient financial experiences and interactions with healthcare finance systems, your
research can go further by tackling problems like medical debt and bankruptcy brought on
by healthcare expenses.

CURRENT ISSUES FACED BY INDUSTRIES :

▪ Rising Healthcare Costs: Due to variables including inflation, the price of new medical
technologies, and the rising incidence of chronic diseases, healthcare expenses are on an
ongoing upward trajectory. Healthcare firms must shoulder the financial responsibility of
controlling operating costs while maintaining high standards of care.

▪ Technological Advancements:

35
 Healthcare providers now need to incorporate telemedicine and electronic health records
(EHRs), yet these initiatives are expensive to set up and maintain. In order to enhance
patient care and streamline operations, investments in artificial intelligence and data
analytics are required.

▪ Access and Equity:

Increasing clinics, hospitals, and outreach programs requires financial resources in order
to address inequities in healthcare access between urban and rural locations or across
various socioeconomic categories. By making strategic financial investments in
underserved communities, equity in healthcare access can be realized.

▪ Regulatory Changes:

The financial stability of healthcare organizations may be affected by frequent changes in

healthcare regulations. This covers modifications to the reimbursement rates, billing codes,
and compliance standards. To maintain compliance and adjust to changing legislation,
financial planning is crucial.

▪ Public Health Emergencies:

The COVID-19 epidemic highlighted the importance of having a solid financial plan in
place. The acquisition of personal protective equipment (PPE), more beds, and investments
in treatment and vaccine research all required money from hospitals. To prepare for
unforeseen emergencies, it is essential to have financial reserves and contingency plans.

▪ Aging Population:

An aging population necessitates more funding for long-term care, geriatric services, and
the control of chronic diseases. To satisfy the specific healthcare requirements of the aged,
geriatric medicine and palliative care investments are essential.

▪ Mental Health Services:

36
 The need for more funding to expand mental health services, such as treatment, counseling,
and crisis intervention, is driven by the current mental health crisis. Healthcare companies
must set aside money for hiring and training mental health specialists.

▪ Cybersecurity:

Due to the sensitive nature of patient data, healthcare facilities are highly desirable targets
for cyberattacks. Making major investments in security infrastructure and training is
necessary to protect against cyber threats. Breach investigations can result in expensive
legal consequences and harm to a company's brand.

▪ Workforce Shortages:

To fill talent gaps in the healthcare industry, including those for nurses, primary care
physicians, and specialists, financial investments must be made. These shortfalls can be
addressed with the use of financial incentives like scholarships and loan forgiveness plans.

▪ Medical Research:

Medical research funding is essential for improving healthcare. New medical technologies,
medications, and therapies are supported by investments. Research funding is heavily
influenced by public and private funds, collaborations with pharmaceutical companies, and
other factors.

▪ Drug Pricing and Access:

Both healthcare systems and patients may experience financial difficulties as a result of the
high cost of prescription medications. A major problem is getting access to necessary
medications. To address medicine pricing and increase access, policy adjustments and
discussions with pharmaceutical firms are required.

▪ Patient Expectations :

Online appointment scheduling, telemedicine, and electronic health records are examples
of patient-centric services. Investments in technology and staff training are needed to match

37
patients' expectations for healthcare providers to offer convenient and digitally-driven
services.

NEW DEVELOPMENT OF HEALTHCARE SECTOR

• Technological Advancements:

Technological advancements in the healthcare industry have surged, encompassing

wearable health gear, AI-driven diagnostics, and telemedicine. Considerable funds
must be allocated to study, development, and application of these developments.

• Pharmaceutical Research:

Pharmaceutical research has become increasingly important as the rush to produce

vaccines and therapies for novel diseases such as COVID-19 has intensified.
Clinical trials and medication development require funding.

• Digital Health Records:

Electronic Health Records (EHRs): Healthcare organizations incur significant costs

for the implementation and upkeep of EHR systems. Interoperability It costs money
to develop systems that allow various healthcare providers to securely share patient
data with one another.

• Population Health Management:

Data Analytics: To identify groups that are at-risk and to put preventative care
measures in place, healthcare firms invest in data analytics solutions. Coordinated
Care Investing in care teams and communication systems is necessary for the
implementation of care coordination programs.

• Medical Equipment:

Robotics in Surgery Capital expenditure and continuous maintenance are required

for robotic surgical systems due to their high cost. Advanced Imaging The purchase

38
 and upkeep of contemporary imaging devices, like CT and MRI scanners,
necessitate significant financial resources.

• Mental Health Services:

Teletherapy Platforms To increase access to mental health care, money must be

invested in teletherapy platforms and mental health apps. Crisis Management Crisis
hotlines and mobile crisis intervention teams require funding.

• Global Health Initiatives:

Vaccine Distribution In order to distribute vaccines to impoverished nations,

governments and organizations must raise the necessary funds. Disease Prevention:
To carry out programs aimed at preventing diseases, international organizations
require funding.

• Health Insurance and Payment Systems:

Value-Based Care: Investing in data analytics, care coordination, and outcome

measurement technologies is necessary when converting to value-based care
models. Revenue Cycle Management In order to efficiently collect and manage
revenue, healthcare providers need financial help.

• Workforce Development:

Training and Education: Funding is essential for medical professionals' training and
education, including that of nurses, doctors, and support personnel. Talent
Acquisition: The costs of job advertisements, hiring procedures, and onboarding
must be covered by recruitment efforts.

39
 Chapter – 4

DATA ANALYSIS

40
TABLE-4.1 Distribution on the basis of Age

AGE GROUP NO OF RESPONDENTS PERCENTAGE

LESS THAN 18 22 18.6
19-25 40 33.9
26-40 47 39.8
41-60 9 7.6
TOTAL 118 100

INTERPRETATION

The pie chart depicts the percentage analysis of the respondents on the basis of their age.The
majority of the respondents belong to the age group of 26-40 years of age with 39.8%followed by
33.9% with the age group of 19-25, 18.6% of respondents belong to the age group of Less than 18
and 7.6% of the respondents of between 41-60

TABLE4.2 DISTRIBUTION ON THE BASIS OF GENDER.

41
 GENDER NO OF RESPONDENTS PERCENTAGE
MALE 57 49.2
FEMALE 58 48.3
OTHER 3 2.5
TOTAL 118 100

INTERPRETATION

The pie chart depicts the percentage analysis of the respondents on the basis of their gender.
Majority of the respondents are male with 49.2% of the total sample size whereas 48.3% of the
respondents were female and 2.5 % of the respondents prefer not to share their gender.

Table 4.3 Distribution on the basis of Educational Qualification

EDUCATIONAL NO OF RESPONDENTS PERCENTAGE

QUALIFICATIONS
High School or less 28 23.7
Some college or associate Degree 27 22.9
Bachelor’s Degree 33 28
Master’s Degree 24 20.3
Doctorate 6 5.1

42
 Total 118 100

Interpretation :

The pie chart depicts the percentage analysis of the respondents on the basis of their educational
qualification. 28% of the total respondents have a bachelors degree which is the highest, 22.9%
has high school or associate degree, 20.3% has a masters degree and 5.1% percent has doctrate
degree.

TABLE 4.4 Distribution how does the demand for finance in healthcare compare to a decade
ago?

Demand for finance No of respondents Percentage

Significantly higher 23 19.5
Slightly higher 34 28.8
About the same 46 39
Slightly lower 13 11
Significantly lower 2 1.7
Total 118 100

43
Interpretation :

The pie chart depicts the percentage analysis of the respondents on the basis of how does the
demand for finance in healthcare compare to a decade ago.

TABLE 4.5 Distribution about financial challenge faced by healthcare organizations?

Financial Challenges No of Respondents Percentage

Limited government funding 24 20.3
High Administrative cost 32 27.1
Increasing cost of medical equipment 47 39.8
Staffing shortages 13 11
Other 2 1.7
Total 118 100

Interpretation :

The pie chart depicts the percentage analysis of the respondents on the financial challenge faced
by healthcare organizations. Majority of people 39.8 % thinks that increasing cost of medical
equipment is the main reason. 27.1 % thinks high administrative cost. 20.3% thinks limited
government funding. 11% thinks staffing shortage and 1.7% thinks other reason.

44
TABLE 4.6 Distribution about changes in healthcare policies and regulations affected the
financial demands.

Changes in Policies No of respondents Percentage

Increased demand for compliance 34 28.8
Enhanced Funding Opportunities 26 22
Reduced Financial Burden 40 33.9
No significant impact 16 13.6
Other 2 1.7
Total 118 100

Interpretation :

45
The pie chart depicts the percentage analysis of the respondents on the changes in healthcare
policies and regulations affected the financial demands. 33.9% thinks that it helps in reducing
financial burden. 28.8% people thinks increased demand for compliance. 22% thinks it enhanced
funding opportunities. 13.6% thinks there is no impact of this.1.7% people thinks about other
reasons.

TABLE 4.7 Distribution about the primary source of funding

Primary source of funding No of respondents Percentage

Government funding 21 17.8
Private Investment 28 23.7
Insurance Reimbursements 42 35.6
Grants and donations 21 17.8
Others 6 5.1
Total 118 100

Interpretation:

The pie chart depicts the percentage analysis of the the primary source of funding. 35.6% thinks
insurance reimbursement is the main source of funding. 23.7% thinks private investment. 17.8%
thinks grants and donations. 17.8% thinks government donation. And 5.1% other reasons are
primary source of fundings.

46
TABLE 4.8 Distribution about noticed any specific financial trends or patterns in healthcare
sector.

Trends or patterns No of respondents Percentage

Yes 37 31.4
No 73 61.9
Maybe 8 6.8
Total 118 100

Interpretation:

The pie chart depicts the percentage analysis of any specific financial trends or patterns in
healthcare sector. Majority of people 61.9% thinks that there is no specific financial trends or
patterns in the healthcare sector in recent years. 31.4% thinks that they follows trends or patterns.

TABLE 4.9 Distribution about primary driver of the increasing demand for finance in the
healthcare sector.

47
 Primary driver No of respondents Percentage
Population Growth 34 28.8
Technological Advancements 32 27.1
Aging Demographics 32 27.1
Regulatory changes 19 16.1
Others 1 0.8
Total 118 100

Interpretation:

The pie chart depicts the percentage analysis of distribution about primary driver of the increasing
demand for finance. 28.8% people thinks population growth is the primary driver of the increasing
demand for finance in the healthcare sector. 27.1% people thinks Technological Advancements &
Aging Demographics are the main reasons. 16.1% people thinks regulatory changes. 0.8% people
thinks there are some other reasons.

TABLE 4.10 Distribution about demand for finance in healthcare impacts the quality of
patient care.

Impacts No of respondents Percentage

Positively 26 22

48
 Negatively 49 41.5
No Significant Impact 36 30.5
No sure 7 5.9
Total 118 100

Interpretation:

The pie chart depicts the percentage analysis of does the demand for finance in healthcare impacts
the quality of patient care. 49.5% people thinks that there is negatively impact the quality of patient
care. 30.5% there is no significant impact, 22% people thinks there is positive impact, 5.9% people
are not sure about the impact.

TABLE 4.11 Distribution about financial management strategies.

Strategies No of respondents Percentage

Tight budget controls 23 19.5
Investment in cost effective technologies 38 32.2
Diversification of funding sources 32 27.1
Improved revenue cycle management 23 19.5
Others 2 1.7
Total 118 100

49
Interpretation:

The pie chart depicts the percentage analysis of most effecting strategies strategies in addressing
the financial demands of healthcare organizations. 32.2% people using investment in cost effective
technologies strategies. 27.1% people have diversification of funding sources. 19.5% people has
tight budget control % improved revenue cycle management. Rest of 2% people have other
strategies.

TABLE 4.12 Distribution about what changes in healthcare policy or regulation could better
accommodate the financial need.

Changes No of respondents Percentage

Increased Government Funding 31 26.3
Simplified Administrative requirement 51 43.2
Incentives for cost saving measures 31 26.3
Others 5 4.2
Total 118 100

50
INTERPRETATION:

The pie chart depicts the percentage analysis of what changes in healthcare policy or regulation
could better accommodate the financial needs. 43.2% people thinks administrative requirements
should be simplified, 26.3% thinks required incentives for cost saving measures, 26.3% thinks
government funding should be increased. 4.2% thinks other reasons.

51
 CHAPTER -5
My Contribution to the body of knowledge

52
➢ Identification of Financial patterns:

Our study can provide light on how healthcare organizations handle their finances and react
to outside influences by conducting a detailed examination of financial data and patterns.
This can assist in identifying trends and obstacles in the financial environment of the
healthcare industry.

➢ Policy Insights:

I can provide insights into how government actions shape financial demands in the
healthcare industry by looking into how policies and regulations affect healthcare finance.
Administrators of healthcare facilities and legislators may find this useful.

➢ Comparative Analysis:

Our research can reveal the range of financial demands and management techniques, which
can be instructive for stakeholders in many contexts, if it examines differences in
healthcare financing across various locations or types of healthcare facilities.

➢ Future Projections:

I may give stakeholders important information for planning and decision-making by

estimating future financial demands in the healthcare industry. This is especially crucial in
an industry where demands and obstacles are constantly changing.

➢ Policy recommendation

Based on our research, policymakers can be guided in developing healthcare finance

regulations that better meet the changing needs of the industry with practical policy
proposals.

➢ Sustainability and Efficiency:

I can provide recommendations for how to best use resources and strengthen the financial
standing of healthcare organizations by evaluating models of sustainability and efficiency.
Better financial management within the industry may result from this.

53
The data-driven insights our research has produced are among its primary
accomplishments. We have uncovered priceless knowledge by closely examining financial
trends and regulations that can direct financial institutions, lawmakers, and administrators
of healthcare systems. The findings' empirical character guarantees more informed and
efficient policy creation and decision-making processes.

54
 CHAPTER- 6

FINDINGS, CONCLUSIONS, &

SUGGESTIONS.

55
FINDINGS:

• 39.8% of the respondents were in the age bracket of 26-40 years

whereas only 7.6% were above 40 years of age.
• 49.2% of the sample size is male whereas 2.5% prefer not to mention
their gender.
• 28% of the sample size had a bachelor degree whereas only 5.1% of the
sample size had the doctorate degree.
• 39% of the respondent think that the demand for finance in healthcare
compare to a decade ago are same.
• 39.8% respondents thinks that increasing cost of medical equipment is
the most significant financial challenge faced by healthcare
organizations.
• 33.9% respondents agreed to changes in healthcare policies and
regulations affected the financial demands of healthcare organizations
leads to reduced financial burden.
• 35.6% respondents agreed that insurance reimbursements is the
primary source of funding for healthcare organizations.
• 39.1% respondents agreed that Research& development is the area
within the healthcare sector that requires the most significant financial
investment.
• 61.9% respondents have not noticed any specific financial trends or
patterns in the healthcare sector in recent years.
• 28.8% respondents agreed that population growth is the primary driver
of the increasing demand for finance in the healthcare sector.
• 30.5% respondents believe that there is no significant impact of the
demand for finance in healthcare impacts the quality of patient care.

56
 • 32.2% respondents agreed that investment in cost effective
technologies is financial management strategies that find most
effective in addressing the financial demands of healthcare
organizations.

CONCLUSIONS:

The need for funding is growing in the healthcare industry as a result of growing expenses
related to medications, sophisticated medical technology, and an aging population.
Healthcare institutions are quite concerned about this financial burden.

Worldwide, the incidence of chronic diseases, rising life expectancy, and population
growth are all contributing to an increase in the need for healthcare services. Higher
financial investments in infrastructure, staffing, and technology are required as a result of
this increase in demand.

The necessity for significant financial resources to buy and deploy these technologies has
arisen due to the rapid improvements in medical technology and healthcare IT solutions.
These kinds of expenditures are essential to raising operational effectiveness and patient
care.

The healthcare industry is heavily regulated, and adhering to these rules necessitates large
financial outlays. This include expenditures on quality control, data security, and employee
training.

Healthcare finance is a crucial function of both the public and private sectors. In addition
to private investment in healthcare infrastructure, drugs, and research, government funding,
health insurance, and public healthcare programs are crucial sources of funding.

Effective money management is essential for healthcare institutions. Maintaining financial

sustainability while meeting the increasing demand for healthcare services requires
effective budgeting, cost control, and revenue management.

57
 In an effort to satisfy budgetary constraints and enhance patient access, healthcare
institutions are investigating novel funding strategies like telemedicine, venture capital
investments, and public-private partnerships.

Finally, our analysis of the financial resources needed in the healthcare industry shows a
complicated picture in which a variety of factors—such as changing demographics,
advancing technology, and governmental regulations—contribute to the growing demand
for financial resources. In order to meet these obstacles and guarantee the long-term
viability of healthcare services, creative funding strategies and efficient financial
management are needed. It is imperative to take into account the distinct dynamics and
obstacles present in your particular region or healthcare system when implementing these
findings in your project.

SUGGESTIONS:

➢ Project Timeline:

For a number of reasons, creating a more thorough project timeline with milestones is
essential. It guarantees that the project moves forward without hiccups and stays on course.
Setting priorities and expectations is also aided by it. Potential delays can be avoided with
a clearly established project timeline, which also guarantees that the phases of analysis,
reporting, and research correspond with the project plan. It enables you to set aside enough
time for every phase of the project, minimizing the possibility of last-minute scrambling
and possible mistakes.

➢ Financial Analysis Expansion:

For a deeper comprehension of the financial opportunities and difficulties in the healthcare
industry, expanding the financial analysis using techniques like forecasting or modeling is
crucial. Using forecasting models or simulations can add a more predictive element, even
though your project still offered insightful information on the financial dynamics. It aids
stakeholders in more accurately predicting costs, financial trends, and optimization
opportunities. Making and planning decisions based on this kind of information might be
more informed.

58
➢ Incorporating Visual Aids:

To explain significant facts more clearly, visual aids like charts, graphs, and infographics
should be included. Using visual aids increases audience engagement and accessibility to
complex information. They can aid in emphasizing important patterns, breaking down
difficult ideas, and improving the way information is communicated. Both technical and
non-technical audiences can benefit from the enhanced comprehension of your project's
findings through the use of visuals.

➢ Stakeholder Involvement:

Incorporating healthcare professionals or stakeholders into the study process is beneficial

as it provides real-world context and alternative view points.The healthcare sector
encompasses multiple disciplines, and the opinions of experts in the subject can offer
distinctive perspectives. They can aid in confirming results and giving the data a useful
context. This partnership may help improve the project's applicability and significance in
the medical field.

59
 CHAPTER- 7

SUMMARY OF THE PROJECT

60
SUMMARY OF THE RESEARCH:

• In the complicated and important subject of healthcare, where financial considerations

are crucial for the efficient provision of healthcare services, this study project provides
an in-depth analysis of the financial aspects of the industry.

• The research explores the rising costs of healthcare, including those associated with
personnel, drugs, medical equipment, and administrative overhead. The escalating
expenses pose a substantial obstacle for healthcare establishments.

• Examining sources of funding spans a wide range, from grants and funds from the
government to investments from the business sector and health insurance. This section
of the report identifies the various avenues that healthcare organizations use to meet
their financial needs.

• The impact of cutting-edge technical developments on healthcare is covered in the

study. It focuses on telemedicine, sophisticated medical gadgets, and healthcare
information systems—all of which improve patient care and foster innovation but also
necessitate large financial outlays.

• One important component of healthcare financing is regulatory compliance. The study

assesses the cost-benefits of complying with various healthcare standards, such as those
pertaining to patient privacy, quality assurance, staff training, and data security.

• The project draws attention to the rising need for healthcare services, which is being
driven by a number of causes including the aging population, longer life expectancies,
and an increase in chronic illnesses. It will cost money to meet this demand for
advanced medical technology, staffing, and infrastructure.

• The study pays particular emphasis to the financial difficulties brought on by

international health emergencies. It sheds light on the enormous financial burden that

61
 the COVID-19 epidemic has placed on healthcare systems around the world,
highlighting the necessity of quick financial action and readiness.

• The project emphasizes how important financial management is to healthcare

companies. It includes effective resource allocation, revenue management, cost control,
and budgeting to guarantee financial sustainability while providing top-notch patient
care.

• This research offers a thorough analysis of the complex financial environment in the
healthcare industry, providing insights into the opportunities, tactics, and challenges
that exist within this crucial sector. Given the dynamic and always changing nature of
the healthcare industry, having a solid understanding of healthcare finance is crucial to
the accessibility and ongoing improvement of healthcare services.

QUESTIONNAIRE:

AGE:

• Less than 18 yrs

• 19-25
• 26-40
• 41-60

GENDER:

• MALE
• FEMALE
• OTHER

What is your highest level of education?

• High School or less

62
 • Some college or associate degree
• Bachelor's degree
• Master's degree
• Doctorate

1. In your opinion, how does the demand for finance in healthcare compare to a
decade ago?

• Slightly higher
• About the same
• Slightly lower
• Significantly lower

2. In your opinion, what is the most significant financial challenge faced by

healthcare organizations?

• Limited government funding

• High administrative costs
• Increasing cost of medical equipment
• Staffing shortages

3. How have changes in healthcare policies and regulations affected the financial
demands of healthcare organizations?

• Increased demands for compliance

• Enhanced funding opportunities
• Reduced financial burdens
• No significant impact

63
4. What is the primary source of funding for healthcare organizations in your view?

• Government funding
• Private investments
• Insurance reimbursements
• Grants and donations

5. Which area within the healthcare sector do you believe requires the most
significant financial investment?

• Medical equipment and technology

• Staffing and personnel
• Research and development
• Infrastructure and facilities

6. Have you noticed any specific financial trends or patterns in the healthcare sector
in recent years?

• Yes
• No
• Maybe

7. What do you think is the primary driver of the increasing demand for finance in
the healthcare sector?

• Population growth
• Technological advancements
• Aging demographics
• Regulatory changes

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8. How do you believe the demand for finance in healthcare impacts the quality of
patient care?

• Positively
• Negatively
• No significant impact
• Not sure

9. Which financial management strategies do you find most effective in addressing

the financial demands of healthcare organizations?

• Tight budget controls

• Investment in cost-effective technologies
• Diversification of funding sources
• Improved revenue cycle management

10. From your perspective, what changes in healthcare policy or regulation could
better accommodate the financial needs of healthcare organizations without
compromising patient care?

• Increased government funding

• Simplified administrative requirements
• Incentives for cost-saving measures

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 BIBLIOGRAPHY:

Grittner, A. (2011). Results based Financing. Retrieved from oecd.org:

https://www.oecd.org/dac/peer-reviews/Results-based-financing.pdf

India, G. o. (2022). Healthcare Industry In India. Retrieved from ibef.org:

https://www.ibef.org/industry/healthcare-india

Kurian, O. (2015). Financing Healthcare for all in India: Towards a common goal. Retrieved from
Openresotiory.com:
https://oxfamilibrary.openrepository.com/bitstream/handle/10546/556476/wp-
financing-healthcare-for-all-india-290515-en.pdf?sequence=1

Ringel, J. (2005). The Elasticity of Demand for Health care. Retrieved from Rand.org:
https://www.rand.org/content/dam/rand/pubs/monograph_reports/2005/MR1355.pdf

Younis, M. Z. (n.d.). Health Economics & Finance and Global Public Health. Retrieved from
mdpi.com:
https://www.mdpi.com/journal/healthcare/topical_collections/Economics_Health

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APPENDICES

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