Why Single-speciality Hospitals Will Be Potential Game Changers

The popularity of out-of-the-hospital, single specialty healthcare centres over the past few years is increasingly throwing up significant opportunities for not only emerging healthcare businesses across a gamut of sub specialties but also tertiary multi-specialty hospitals to foray into the sector.

Prominent chains such as Fortis healthcare and Apollo Hospital have set foot in the single specialty category and have launched exclusive maternity chains that currently operate under brands Fortis La Femme and Apollo Cradle, respectively. As per sources, even Max Healthcare is looking to soon enter the segment and is currently in scouting for acquisition opportunities that will give it an instant entrance into the sector. However, this could not independently verified.

Industry experts say that going forward, the rapidly evolving single specialty hospital and clinics industry in India is likely to transform the facade of the underpenetrated healthcare sector. Going forward, the definition of single speciality is also likely to change as hospitals tap single speciality categories like cancer and heart, as well.

Initially, under single speciality, healthcare categories such as eye care, dental care were gaining popularity. However, now, with the success of model itself, other categories like fertility and oncology and maternity are also coming up. So much so, that it is not the emerging businesses alone which are betting big on the domestic services growth story. Even large hospitals are looking to cash in on this growing boom as people flock single specialty chains for specialised ailments. Single speciality hospitals or day care centres as they are typically known focus on specialty care services in any one area of healthcare.

Experts say it is the ability to offer a custom solution for a specific requirement by single speciality chains coupled with specialized infrastructure that is driving the growth in the segment. With the rise of branded private hospitals across the country, the 'healthcare consumer' today can no more be treated as a patient alone. In the past few years, there has been a major shift in people's attitude towards doctors and hospitals and single speciality scores there as well as the quality of doctors and attention that patients get in these chains are on par with multi-specialty hospitals. Under single speciality, one get everything under one roof with multiple doctors focussing on one area of healthcare. Also, single specialty offers end-to-end solutions, even if it means those required for post operative care - this is increasingly becoming popular with people.

What's more, they are also in a lot way lesser intimidating than multi-specialty hospitals. "For certain healthcare procedures, it's always more comforting for patients to walk into single specialty centres as they typically look less intimidating than tertiary multi-speciality hospitals where patients walk in with major ailments," says Avnish Bajaj, co-founder and Managing Director at venture capital firm Matrix Partners India. For instance, for delivery of a child, one may want to opt for a specialty healthcare centre that is confined to maternity over a tertiary multi-speciality hospital, that caters for various categories of ailments under one roof like what Fortis Hospital, Max Healthcare, Apollo Hospitals and Medanta - The Medicity, among others, have to offer. Even in the eye care and dental care, one may typically want to opt for a specialised chain over multi-specialty hospital.