Karandaaz Report Exposes Dark Secrets of Private Healthcare in Pakistan

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Karandaaz Webinaar

Karandaaz, a leading impact investor in Pakistan, unveiled the findings of its groundbreaking report titled “Private Healthcare in Pakistan – Gaps, Opportunities, and Possibilities” during a highly anticipated webinar. The report, consisting of Volume 1 and 2, is now publicly available on Karandaaz’s website, aiming to promote collaboration and improvement in access, affordability, and quality of healthcare in the country.

The webinar commenced with Mr. Waqas ul Hasan, CEO of Karandaaz, delivering welcome remarks, followed by Dr. Shamshad Akhtar, Chairperson of Karandaaz Board, providing opening remarks. Ms. Fatima Sheikh, Special Secretary (Health) of the Government of Punjab, delivered the keynote address, emphasizing the significance of the report and its potential impact on the healthcare sector.

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During the webinar, Ms. Mehr Shah, Director of Research, Marketing, and Communications (RMC) at Karandaaz, along with Mr. Imran Zia, Study Technical Lead at the Centre for Economic Research Pakistan (CERP), and Mr. Behzad Taimur, Program Manager at CERP Analytics, presented the key findings from the report.

The report represents one of the most comprehensive assessments of the private healthcare landscape in Pakistan. It provides solutions and recommendations grounded in research to address the various challenges prevailing in the sector. The aim is to inform academia, industry stakeholders, policymakers, and investors and provide a roadmap for collaboration and improvement in healthcare access, affordability, and quality for the people of Pakistan.

One significant finding of the research is that healthcare expenditure in Pakistan has witnessed a modest increase of 18.6% between 2010 and 2020, reaching 2.95% as a percentage of GDP. However, out-of-pocket expenditure accounts for over 55% of the total healthcare expenditure, highlighting the urgent need for increased investment in the sector.

The study also revealed the high costs associated with operating in the private healthcare sector, which hinder the growth of small and medium-scale health enterprises. The estimated costs for setting up a modest tertiary facility amount to USD 20 million, while a 100-bed hospital requires a working capital of PKR 5-6 million per month. Limited access to capital and significant investment requirements pose challenges for these enterprises, restricting their expansion and market penetration.

Commenting on the findings, Mr. Waqas ul Hasan, CEO of Karandaaz, highlighted the gaps in the healthcare system, particularly the neglect of primary and secondary healthcare in favor of tertiary care hospitals. He emphasized the need to address these imbalances to ensure effective healthcare delivery.

Dr. Shamshad Akhtar, Chairperson of Karandaaz Board, pointed out the need for tech-enabled interventions in healthcare and emphasized the importance of comprehensive industry-level standards and regulatory initiatives. She highlighted that improving the quality of private healthcare would open opportunities for global consumer markets, retain skilled healthcare professionals, attract foreign direct investment, and increase the valuation of private healthcare facilities in Pakistan.

The webinar featured two panels discussing various aspects of private healthcare. The first panel, titled “Bridging the Infrastructure Gap Through Innovations,” included industry experts from leading healthcare organizations. The second panel, titled “Unlocking Access to Quality Healthcare: Navigating the Landscape of Financing,” comprised prominent figures from the investment and finance sectors.

In her closing remarks, Ms. Anna Gibson, Team Lead – Private Sector Development at the Foreign Commonwealth & Development Office (FCDO), emphasized the importance of collaboration among public, private, and donor organizations to achieve universal healthcare coverage. She called for collective advocacy for better industry regulations, business reforms, and improved healthcare supply chains.

The launch of the report and the insightful discussions during the webinar mark a significant milestone

For more information and to access the report, please visit;

https://karandaazmain.wpenginepowered.com/wp-content/uploads/2023/05/Healthcare-Report-Volume-1.pdf

https://karandaazmain.wpenginepowered.com/wp-content/uploads/2023/05/Healthcare-Report-Volume-2.pdf

Watch the full webinar below:

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