You can earn from Rs. 60,000 to Rs. 90,000 per month if you work as a Junior Resident Doctor in a government hospital. As a Senior Resident Doctor, you can earn up to Rs. 1.25 lakhs per month. The earnings are much less for doctors who work in rural areas. To earn higher, you can start your own hospital as well.
However, it is not an easy task to start a hospital as it requires a lot of time, funds, and efforts to build one. The investment can be huge if you are planning to construct an independent building after buying a plot of land. Moreover, you will need more funds to furnish it with all the necessary infrastructure and medical facilities. It is not only a capital and time-investment process but you will also need to be patient till everything is sorted as per your plans. Here are some factors that you can consider before starting a hospital in India:
Choosing the location
You need to be smart while choosing a location for your hospital. It is not possible to start a hospital in a metropolitan city with a limited budget. Therefore, if you are low on funds, you might be forced to choose a semi-urban or rural location. The location of the hospital also matters as people would prefer hospitals that are easily accessible from any corner of the city or town. You can buy a piece of land if you have enough time on hand. However, if you don’t have much time, it is better to buy a pre-constructed building or house.
Rent or lease
Renting or leasing a building that is suitable for running a hospital can help you save money. The money that you save from renting or leasing a building can be used to equip your hospital with better facilities and medical infrastructure.
HMIS
The infrastructure of the hospital includes the plumbing works, electrical, and mechanical installations, etc. You must also have a HMIS i.e. Hospital Management Information System in place. It will help you to store all the critical data at one point. Moreover, handling remote devices, managing digital screens and devices, etc. can be done through an extensive HMIS.
Hiring Staff Members
The staff members are responsible for running the hospital smoothly. Therefore, while hiring the staff members, you need to ensure that they have the required skill-set, academic credentials, and passion to complete their duties.
Recruiting experienced staff members instead of newbies is preferable but it will also cost you more as experienced candidates will demand a higher salary. You can hire some freshers and a few experienced staff members to ensure efficiency with minimum expenses. Also, ensure that you have proper manpower to handle the duties efficiently in emergency situations.
Deciding the fees
Once you have everything in place, you will need to take care of forms, receipts, and other paperwork that is required for various procedures in a hospital. After that, you will have to decide the fee for every service. For reference, you can study the fee structure of your competitors as you will need to be very careful while selecting the fee for every medical service.
Reserve some funds
After taking care of everything, you will still need to reserve some funds for the future. You cannot predict when an equipment or facility will collapse and therefore, you will need to have the required funds to meet the requirements during an emergency. You can also utilize the extra funds for expansion of your hospital in the future. The expansion could be for accommodating extra patients, ICU expansion, or to integrate new facilities and health care systems.
From these factors, it is easy to judge that to start and run a hospital successfully, you will require a lot of funds. Doctor loan for doctors, dentists, and homoeopathy or ayurvedic doctors who are planning to start a hospital is the best option.
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