Is Indian healthcare sector in need of a makeover?

CNBC-TV18's India Healthcare Awards, highlights the shortcomings of the Indian healthcare sector which is clocking a growth rate of 20 percent and is expected to touch USD 100 billion mark by 2015 from the current level of USD 65 billion. Though this number may seem good but the harsh reality is that the country's healthcare infrastructure is inadequate to meet the needs of millions. There is a huge shortage of beds, doctors, nurses and paramedics and this demand supply mismatch is making healthcare prohibitive and impacting the quality of healthcare in the country.

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According to World Health Organisation (WHO) an average Indian bears 76 percent of his spending on healthcare from his own pocket while in the US it is a mere 13 percent. Looking at the current scenario, the government is planning to hand over the running of the hospitals to the private sector while it will provide insurance cover. Is this feasible? To clarify more such doubts Bhargav Dasgupta, MD and CEO of ICICI Lombard General Insurance shares his views.