Reports from IBEF show that the condition of the healthcare sector in India is under average. This is because a major section of our population is not aware of the medical facilities. Another reason for the acceleration of this problem is that the service providers feel the deficit in funds to meet the expenditure incurred to set up medical treatment equipment.

National Sample Survey Organization (NSSO) predicted that the main reason for the indebtedness among the poor and the middle-class people is the escalating medical costs.

This is because the number of individuals or organisations serving in the healthcare sector are less and the demand is extremely high. Due to this imbalance, the cost to avail any treatment has gone up significantly.

The government of India is now encouraging people in this sector to avail easy loans to set up healthcare equipment loans. This service aims to give the assurance of a safe and healthy life in a cost-efficient manner.

According to the recent survey, the demand for medical devices is predicted to rise to meet the demands of a growing population. According to the United Nations, India’s population is set to touch 1.45 billion by 2028, making it the world’s most populous nation. With socio-economic changes such as rapid urbanization, demographic and lifestyle changes, the society is more prone to lifestyle-related ailments, including diabetes, obesity, stroke, and cancer. Also, out of the total population, the share of the aging population in 2011 was 5.3% and is expected to increase to 6% of the total population by 2021.

With an increasingly aging population, there will be a greater demand for better health care facilities and medical devices. To serve these medical conditions, there are a number of companies in the banking and non-banking sector that are emerging to help doctors and medical practitioners to avail the loans and build the healthcare setup.

Healthcare loans have helped meeting the primary needs of providing funds for medical purposes, purchase of medical equipment or refinance on existing medical equipment or for expansion of existing healthcare facilities. Healthcare equipment financiers provide financing solutions for both new & refurbished medical equipment.

If any doctor who is new to healthcare profession, and plans to start practicing or someone who is at initial stages of — hospital, then they require a wide range of equipment altogether.

Clix Capital provides medical equipment loans to doctors who have been practicing in this profession for over three years now. In this case, the applicant can choose from a flexible deal structure. They can either choose to lease or finance the equipment. The company provides up to 100% medical loan financing in case of lease and 90% in the case of a loan. As the applicant get the flexibility of repayment, they can clear their dues in a loan tenure of 12 to 72 months. The client gets a cover on finances in bundled services. It includes clinic set-up or interior costs.

The basic requirements to get a healthcare finance loan is that the organisation must be registered in India as a Public Limited or Private Limited Company or a Partnership Firm. The minimum business vintage of the organisation shall be one year. The organisations under the category of Specialty or super specialty hospital, Nursing home, Diagnostic center, Pathology lab center, Specialty clinics (like skin and dental clinics), Dialysis center, Endoscopy center, IVF center, Educational institute – medical/paramedical college, dental college, Large medical equipment dealer, Pharmaceutical manufacturer or can be new setups by doctors or individuals with relevant experience in healthcare.

The exponential rise in the medical sector due to these services show the building trust on the government, medical loan companies, equipment loan providers, etc. which help professionals gain a platform to operate and at the same time ensure healthy living across the country.

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