Experts Call For $150 Billion Investment To Achieve Universal Healthcare In India At ASCO 2024

At the Best of ASCO 2024 Conference held at The Taj Mahal Palace, Mumbai, leading healthcare experts, including Dr. B.S. Ajaikumar, Founder and Executive Chairman of HealthCare Global Enterprises called for a significant annual investment of USD 150 billion to transform India’s healthcare infrastructure. This proposal, aimed at achieving universal healthcare access for the country’s 1.4 billion citizens, is expected to undergo further assessments before being submitted to the government.

The announcement came during a session on healthcare economics and policy, where key speakers, including Dr. Hemant Malhotra, Prof. Dr. Daniel Rea, Dr. Manoj Kumar, and Varun Khanna, discussed the need for reforms to address healthcare disparities across India. The panel highlighted the urgent need for accessible and affordable healthcare, emphasising that quality healthcare should not be a privilege limited to a few but a right for all citizens.

Dr. Ajaikumar remarked, "India's economic progress means little if its citizens cannot access basic healthcare. The government must bridge the rich-poor gap in healthcare delivery." He stressed the importance of involving industry leaders with firsthand experience in shaping healthcare policies to ensure they are both practical and effective.

During the session, concerns were raised about the limitations of current government schemes such as Ayushman Bharat and ESIC. While these initiatives offer essential support, they often fall short in covering advanced treatments like immunotherapy, which can be life-saving but come at a high cost. Dr. Ajaikumar pointed out that patients with advanced cancers often cannot access the treatments they need due to financial constraints under these schemes.

"The question we must ask is whether we are truly administering the best possible treatments, regardless of socio-economic backgrounds," Dr. Ajaikumar said. He argued that a universal healthcare model, free from reimbursement ceilings, could provide equitable care for all and prevent treatment gaps that currently lead to higher mortality and recurrence rates, especially for complex conditions like head and neck cancers.

The discussion also touched on preventive measures, with experts calling for stricter tobacco control policies. With 40 per cent of cancer cases linked to tobacco use, banning tobacco would be a significant step toward reducing cancer incidence across the country.

The panel advocated for the establishment of an autonomous body to oversee healthcare reimbursements without financial limits, while the government could focus on monitoring outcomes. As more drugs become generic, they argued, healthcare costs will decrease, allowing for more standardized care across the nation.

Dr. Ajaikumar proposed the introduction of a healthcare cess, adjusted based on income levels, which could be easily paid through smartphones. "This could generate approximately USD 140 billion and revolutionise India’s healthcare landscape," he said. Additionally, he suggested creating a healthcare fund that operates like a private equity firm, using market returns to finance healthcare initiatives.

Keynote speaker Prof. Daniel Rea, Deputy Director of Cancer Research UK Clinical Trials Unit, emphasised the role of innovation in improving patient outcomes. "Incorporating cutting-edge therapies into clinical practice is essential for better care," Dr. Rea said, highlighting the importance of collaboration between research and clinical application at events like ASCO.

The panellists agreed that universal healthcare is not only an ambitious goal but a vital necessity for India's future. They urged policymakers to collaborate with healthcare leaders to close the treatment gap and ensure equitable healthcare for all. The proposed USD 150 billion annual investment is seen as both a feasible and necessary commitment to building a robust healthcare system in India's USD 4 trillion economy.