Healthcare Spends Dip by 15% Following Note Ban
The demonetisation move along with the recent note ban has led to a dip in healthcare spending by 10-15 percent. The impact has been more significant in the smaller towns.
There has been a slight dip in the sales of retail drugs however diagnostic services has witnessed a drop of about fifteen percent. Private hospitals located in big cities like Mumbai and Delhi haven’t suffered as cashless payment channels were available in plenty.
Although there was an initial boost in the sales of prescription drugs as older notes remained legal till Nov’ 24, 2016 but post that period there has been a dip in the market.
With seventy percent of the healthcare spend of the country based on liquid cash, the crisis of cash definitely created an impact.
Medwell Ventures co-founder and chairman, Mr. Vishal Bali stated that the impact of demonetization will be transitory based on the offerings and services of enterprises. The CEO of Apollo Hospitals Navi Mumbai, Dr. N. Trivedi stated that there hasn’t been significant drop in surgeries as they had started accepting through different modes like debit cards, credit cards, cheques, net banking as well as iOS and Android smartphone enabled payments.
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