ICICI Lombard partners with CNBC-TV18 to present Healthcare Awards'10

ICICI Lombard General Insurance, India's largest private sector general insurer and CNBC-TV18, India's biggest business medium presents India's first-of-its-kind initiative of recognizing the best medical service providers ' The Healthcare Awards 2010, India's most authoritative awards for the healthcare industry. IMRB International, pioneers of Indian market research, are the knowledge partners for these awards who will help shortlist India's finest healthcare providers basis a robust multiphase research methodology.

The awards will witness the presence of the Indian Healthcare community, the leaders and representatives from Indian private and government organizations, policy makers and important luminaries from sectors affiliated to this industry.

According to Senthil Chengalvarayan, President and Editorial Director, CNBC-TV18, "CNBC-TV18 Healthcare Awards 2010 aims at recognizing the achievements of the best Indian Health Care Providers who have undoubtedly extended best infrastructural facilities, excellent in-house services to the patients and have provided holistic care for the well-being on an individual".

Speaking on the occasion Bhargav Dasgupta, MD & CEO, ICICI Lombard General Insurance Company Ltd. said, "The Indian healthcare industry is growing at a rapid pace and healthcare providers are now looking at ways of enhancing overall patient experience with improving operational efficiency. ICICI Lombard is committed towards providing comprehensive Health Insurance solutions with a view to meeting the need for quality healthcare in the country and this proactive initiative by ICICI Lombard Health Insurance and CNBC TV18 is to reaffirm the effort."

The Indian Healthcare Industry is experiencing increased spending on the healthcare deliverables with rapidly changing demographics, disease profiles and a shift from chronic to lifestyle diseases. Further, the rising income levels and a surge in the elderly growing population are factors also impacting the growth of this industry.

The Indian healthcare industry is expected to grow from US$35 billion in 2007 to US$70 billion in 2012 and US$145 billion by 2017. With the increasing number of available health insurance policies and other financial options, consumers today have engaged in making informed decisions about their health and are aware of the costs associated with such decisions.

However, as per statistics about 700 million people still have no access to specialist care. Eighty percent of specialists live in urban areas. In order to meet the manpower shortages and reach world standards, India would require investments of up to $20 billion over the next 5 years.

As a matter of fact, the Indian healthcare providers are now looking at improving their operational efficiency as well as the overall patient experience. In order to remain competitive, healthcare providers are now not only looking at improving operational efficiency but are also looking at ways of enhancing overall patient experience. These exceptional, proactive and ahead of the curve institutions are the ones leading the way for the Indian healthcare industry.

The ICICI Lombard Health Insurance CNBC-TV18 Healthcare Awards 2010 have received an overwhelming response with 2000 applicants from India's biggest hospitals from all parts of the country. The best hospitals will be chosen basis a three phased research methodology commissioned by CNBC-TV18, sponsored by ICICI Lombard Health Insurance and conducted by IMRB International.

The jury members include luminaries such as Kewal Handa, Managing Director, Pfizer Limited, India; D. G. Shah, Secretary General, Indian Pharmaceutical Alliance and Co-Chairman, National Pharmaceuticals Committee, FICCI; Gautam Kumra, Director, Mckinsey's; Dr. R. D. Lele, Head of Dept. Nuclear Medicine, Leelavati Hospital and Dr. S. K. Sarin, Director Indian Medical Council