How to Serve Better Healthcare Services with Professional Loan


healthcare services

As per the World Health Organisation (WHO) estimates, the doctor-to-patient ratio currently stands at around 1 per 1000 individuals residing in India as of 2018.

India’s healthcare sector is developing at present, with a relatively lower percentage of human resources dedicated to catering to the medical needs of individuals residing in the rural areas of the country.

Thus, healthcare finance is being extended at attractive interest rates to encourage medical practitioners to start-up healthcare services.

How can professional loan increase healthcare services available in India?

Loans for doctors and associated professionals are extended by major financial institutions to increase the overall healthcare services available in the country. Such credits also cater to technology development used to provide healthcare services, such as the purchase of expensive high-end machines helping in the diagnosis procedure.

Professional business loans to finance healthcare can be used in the following ways, such as –

  • Develop healthcare infrastructure

Development of adequate healthcare infrastructure includes sufficient supply of pharmaceutical drugs, laboratory training and experienced healthcare professionals to increase the overall quality of services provided to individuals. Top medical software in India and their applications can be availed by purchasing it through funds procured.

Funds acquired for this purpose can also be used for expansion of an existing business, ensuring that quality healthcare services are accessible for more individuals residing in the country.

  • Purchase high-end equipment

Doctors and other medical professionals can avail such financing options to obtain state-of-the-art machinery and equipment to increase the accuracy and speed of diagnosis. Secured professional loans for business are extended for purchase of EKG machine, MRI scanners, x-ray machines, etc.

  • Set up research and development laboratories

Healthcare finance can be availed to set up such labs inside a hospital or any medical centre. This helps in generating additional revenue for the business, through the creation of high-end supplements and pharmaceutical drugs. Also, investing in pathological laboratories and department can be useful in the diagnosis of numerous ailments quickly.

  • Hire medical practitioners

Such funds availed can be used to hire experienced doctors and other medical professionals. This will improve the quality of diagnosis of patients, increasing their average life expectancy. An increase in the average life expectancy of residents of a country indicates overall development.

Also, healthier citizens imply a higher productivity rate in a country, which, in turn, increase the GDP rate of the country. Individuals demonstrating a better health quality have the capability to earn higher income on an average, thereby positively impacting their standard of living.

Healthcare finance can be procured in the form of business Loan for Doctors, provided by major financial institutions such as Bajaj Finserv.

However, to successfully avail such credits from renowned financial institutions, satisfying the eligibility criteria is mandatory.

Eligibility criteria for a professional loan for doctors

You can learn how to be eligible for a doctor loan through the following steps –

  • Qualifications

The total loan value extended to medical practitioners depends on their educational qualifications, as discussed –

  1. Doctors having an MBBS degree should be registered with the Medical Council of India.
  2. For doctors with a Bachelors in dental surgery, Ayurvedic or Homeopathic medicines, 2 years of work experience along with registration, is mandatory.
  3. MDs with a specialised field have to submit the relevant documents as proof.
  • Income proof

In the case of doctors employed in an organisation, salary slips of the past 3 months act as proof of income. Self-employed doctors, on the other hand, have to show profit and loss statements and balance sheet of the business also.

Healthcare finance availed for business development, and expansion increases the aggregate income of all medical professionals, making it profitable for them to start their own business. An increase in the total income of doctors, along with higher life expectancy of individuals leads to the all-round development of a country.

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