Camomile News & Notes

Since the Ayushman Bharat reimbursement rates are considerably lower than the market tariffs, sustaining profitability with these rates will prove to be a major challenge for empanelled private hospitals. This is one the major reasons why many private hospitals have refused to empanel themselves in this scheme. The prospect of higher patient volumes still does not render the scheme profitable for them.

INDUSTRY SNIPPETS

MCI RESTRUCTURED

The Lok Sabha on 31st December, 2018 passed the Indian Medical Council (Amendment) bill. Under the new amendment, the Medical Council of India (MCI) will be superseded by a Board of Governors (BOG) for a period of one year. The BOG will have eminent healthcare administrators from all over the country and will be assisted by a Secretary General appointed by the Central Government. NITI Aayog member Dr. V.K.Paul has been appointed as the Chairman of the BOG

The Parliamentary Standing Committee on Health and Family Welfare in its 92nd report in March 2016 had severely indicted the MCI. The committee had recommended that the government should introduce a new bill in the Parliament to restructure the regulatory system of medical education and medical practice in India and to reform the MCI amidst numerous bribery allegations.

SUN STOPS SHINING

The largest drug manufacturer in India saw the biggest intraday drop in it’s share prices due to a complaint published in Moneylife magazine by an anonymous whistle blower. In the article it was alleged that there were multiple financial irregularities in transactions between Aditya Medisales Ltd. (a privately held distributor company for Sun Pharma) and a real estate firm Suraksha Realty, which is controlled by Sun Pharma’s co-promoter Sudhir Valia. The transactions took place between 2014 and 2017, and were worth more than ₹5,800 crore.

With significant indications of shareholder value being destroyed, SEBI is expected to investigate the issue and take further actions.

INSTITUTE OF EMINENCE AWAITS GOVERNMENT NOD

The Institute of Eminence (IOE) project was introduced by the Ministry of Human Resource Development (MHRD) for globalisation of Indian campuses and creating world class universities in September 2017. The MHRD had constituted the Empowered Expert Committee (EEC) for evaluating applications and making recommendations for IOEs.

It was initially planned that 20 institutions across the country (10 public & 10 private) will be selected for the IOE tag. However, in a new development, the EEC has recommended 30 names in their reports. In a meeting held by the UGC on 30th January, it was decided that the government’s clarification was required on the matter and a final decision could only be made after that.

IOE institutions are eligible to have multiple incentives from the government in the form of financial assistance, government approvals and international expansion opportunities.

TOP US INSTITUTIONS TO HELP REVAMP 10 STATE UNIVERSITIES

Under the HRD ministry’s Rashtriya Uchchatar Shiksha Abhiyan (RUSA) project for higher education institutes in the state, top 10 state universities have been selected to partner with leading US institutions which will help them set up specialist centres on campus and build an ecosystem of entrepreneurship and innovation in India. Some of the state universities that have been selected under the project include Osmania University, Andhra University, Jadavpur University and Utkal University.

Broad agreements and partnership plans have been drawn up with some world renowned US universities including University of California, Berkeley, University of Pennsylvania, Purdue University and Northeastern University.

Under the project, Rs 100 crore has been set aside for these 10 state universities for use till March 2020.

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