The emergence of single specialty chains and diagnostic chains has seen high volume hiring in the healthcare sector. Healthcare, which used to recruit professionals largely through referrals, is now approaching hiring agencies for large-scale talent acquisition.
The healthcare delivery space has seen a lot of activity in the past few years. On one end, the market has seen corporate hospital chains like Apollo Hospitals and Fortis Healthcare opening single specialty hospitals and clinics for cardiology, oncology, maternity, urology, dental, eye-care, orthopedics, IVF and kidney dialysis, many VC-funded startups too have emerged in the space.
According to Ken Research, the single specialty hospitals and clinics market in India recorded a CAGR of 12.6 per cent over FY10-14 with even large hospital chains branching out by opening units for dialysis, maternity centres and dental care facilities.
If the sector witnessed an initial wave of private investments in tertiary multi specialty hospitals over the last decade, now the wave has moved in favour of single specialty chains.
Mushrooming of single specialty clinics and diagnostic chains has also led to over 20 per cent growth in demand for medical professionals in the last few years. Hospitals, which used to get their professionals through referrals, are now approaching recruitment agencies.
“Earlier hospitals and diagnostic chains never used to approach us for recruitment purposes. Most of their recruitment used to happen through referrals. But in the past two to three years these companies are seeking our assistance in talent acquisition. We are also getting resume of doctors and other professionals. It was not the case earlier,’ said Aditya Narayan Misra, chief executive officer of CIEL HR Services.
According to him, the demand is so huge that companies are not able to meet all the demand for fresh talent on their own.
“Earlier, there were only eye and dental clinics outside hospitals. Now we have clinics catering to each super specialisation. There are knee clinics, shoulder clinics, joint clinics and centres specialising in almost every part of the body. The increased focus on preventive healthcare also has triggered demand for health checks and diagnostic care,” he added.
In a matter of couple of years, specialist doctors also have topped the list of highest paid professionals.
A recent study done by Randstad found that specialist doctors of 6-10 years of experience got an average annual salary of Rs 18.4 lakh, which is the highest among professionals from all the industries.
“The salaries of doctors are increasing year after year as the doctor-patient ratio in India is still very dismal due to scarcity for professionals. In 2017, we found that lot of private hospitals chains went live with new tertiary care facilities and this increased need for specialist doctors. The trend is expected to continue in the coming years as well,” said Paul Dupuis, managing director and chief executive officer of Randstad India.
As per the data from Medical Council of India, the doctor-patient ratio is 0.62:1,000 or less than one doctor for 1,000 people in India. “Given the emphasis on specialised care, the demand for doctors and other medical professionals has gone up significantly in the recent years and so has their workload,’ said Aswajit Singh, chairman and managing director of IPE Global.