Moving towards a healthier India

February 24, 2015 by · Leave a Comment
Filed under: Announcements, Healthcare, Industry Update 

The stage is set for the Modi government to signal its seriousness about transforming India’s under performing healthcare system

With expectations running high about the Narendra Modi government’s first full-year budget, the stage is set for the centre to signal its seriousness about transforming India’s under performing healthcare system and committing investments for a long-term payoff for all Indians. By ramping up investments in healthcare, the government will have the perfect opportunity to start a virtuous cycle of health. It will improve productivity, enable greater consumption and boost economic growth, as well as help the Make in India campaign become a reality.

Healthcare reform can protect Indians from out-of-pocket expenditure burden, create 15 million additional health services jobs by 2025 and allow the country to emerge as a global hub for innovative, low-cost health products and services. As we have seen, a business-as-usual approach to health won’t work and can hurt India’s future growth, development and competitiveness. According to one estimate, the burden of non-communicable diseases (NCDs) alone will cost India $6.2 trillion by 2030.

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“Acquisition Of Patients Through B2B Channels” – Value Factor Session 5 – Healthcare Marketing Series

January 22, 2014 by · Leave a Comment
Filed under: Events, Events, Value Factor 

Introduction

Value Added Corporate Services and X Factor Innovations are back with Value Factor – Session 5.  This is the next session of Healthcare Marketing Series. This session of Value Factor revolves around the topic of  ’Acquisition Of Patients Through B2B Channels’

As you all know Value Factor is a joint knowledge sharing initiative by Value Added Corporate Services & X Factor Innovations.  It is a series of events where all verticals and related areas of Healthcare Marketing is discussed.   Read more

Deduction of tax at source – Fees for professional or technical services [Medical services]

December 27, 2013 by · Leave a Comment
Filed under: Announcements, Healthcare 

[2013] 40 taxmann.com 156 (Indore – Trib.)

IN THE ITAT INDORE BENCH

Chief Medical Officer

v.

Income-tax Officer*

JOGINDER SINGH, JUDICIAL MEMBER
AND R.C. SHARMA, ACCOUNTANT MEMBER

IT APPEAL NOS. 503 & 504 (INDORE) OF 2012
[ASSESSMENT YEARS 2009-10 & 2010-11]

JUNE  28, 2013

 

 

Section 194J, read with section 201, of the Income-tax Act, 1961 – Deduction of tax at source – Fees for professional or technical services [Medical services] – Assessment years 2009-10 and 2010-11 – Low income group patients were provided medical aid by State Government under M.P. State Measures Assistance Fund – When such patients were treated at hospital, payment was made by Government – Such payment included investigation charges, doctor’s consultation fee, cost of equipment used for patients etc. – Assessing Officer held assessee – Medical Officer in default for not deducting TDS under section 194J on said payments to various hospitals – Whether payment made for equipments like pace maker, stunt etc. could not be said to be payment for professional fee; these are equipments put in heart and cost of such equipments could not be said to be professional fee paid to doctors – Held, yes – Whether for professional services rendered to patients, bills were raised in names of patients and not in name of State Government, individual patients to whom treatment was given, were liable to make payment, and, therefore, first criteria of section 194J, was not satisfied – Held, yes – Whether since assessee had acted only as disbursement officer on behalf of State Government, assessee was not required to deduct any tax at source – Held, yes [Para 7] [In favour of assessee]

HEALTHCARE MARKETING ACQUISITION OF PATIENTS THROUGH B2B CHANNELS – Value Factor – 5

November 15, 2013 by · Leave a Comment
Filed under: Events, Healthcare, Value Factor 

Introduction

Value Added Corporate Services and X Factor Innovations are back with Value Factor – Session 5.  This is the next session of Healthcare Marketing Series. This session of Value Factor revolves around the topic of  ’Acquisition Of Patients Through B2B Channels’

As you all know Value Factor is a joint knowledge sharing initiative by Value Added Corporate Services & X Factor Innovations.  It is a series of events where all verticals and related areas of Healthcare Marketing is discussed.   Read more

India needs Rs 1.63 lakh cr investment in healthcare by 2017

October 28, 2013 by · Leave a Comment
Filed under: Healthcare 

This article was originally posted here by PTI

NEW DELHI: The Indian healthcare sector will need a total capital investment of Rs 1,62,500 crore to provide accessible and affordable healthcare during the 12th Plan period, says a report.

India will need to add at least 6,50,000 beds by 2017 to help improve access to healthcare infrastructure from the current 1.3 beds per 1,000 population in 2011 to 1.7 beds per 1,000 population by the end of the 12th Plan period in 2017, said a report by by PricewaterhouseCoopers in association with industry body NATHEALTH. Read more

Service tax on healthcare to affect nation’s social welfare

September 6, 2011 by · Leave a Comment
Filed under: Uncategorized 

Source : Pharmabiz News – September 03, 2011, 0800 IST

The Federation of Indian Chambers of Commerce and Industry (FICCI) has urged the central government not to go ahead with its proposal of levying 10 per cent service tax on some components of healthcare and education as it will have adverse repercussions on the access to affordable healthcare in the country.

In a statement, FICCI said that the union finance ministry’s proposal of levying service tax on some components of healthcare and education will have affect the access to affordable healthcare and restrict the access to endowment funds by educational institutions. It has pointed out that access to healthcare and education have been identified as the basic priority for the government for bringing about inclusive growth in the country. This has been enshrined in the Eleventh Plan and forms the core social component of the Twelfth Plan.

The proposed 10 per cent service tax on health check up will raise costs and deter individuals and corporates to go for preventive care, worsen the health parameters of the population and thereby increase the burden on secondary and tertiary care in the country, FICCI has stated. There is sufficient evidence to show that preventive health has significant benefits on productivity.

According to the Planning Commission’s 12th Plan Approach Paper, better health is not only about curative care, but about prevention i.e. clean drinking water, sanitation and better nutrition, childcare, and prevention of life style disorders. It has therefore suggested convergence of schemes across Ministries.

FICCI feels that the high cost of healthcare keeps a large segment of society away from hospitals, barring those who are seriously ill. This reactive approach costs the nation dearly. As per a WHO report in 2005, the losses would amount to 5 per cent of the GDP, a whopping INR 61000 billion by 2015.

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