On The Job Training

On The Job Training A Summer Training Project ReportSubmitted in partial fulfillment of the requirements for the Award of degree of Masters of Administration2018 – 2020 Submitted by Guided by Name: Deepali Goel Mr. Rahul Gupta ERP: 0181MBA133Certificate of OriginalityThis is to certify that the project report entitled on the job training submitted to Bharati Vidyapeeth Deemed University, Pune, in partial fulfillment of the requirement for the award of the degree of Maters of Administration ,is an original work carried out by me under the guidance of Mr. Rahul Gupta he matter embodied in this project is a genuine work done by me has been submitted neither to this University nor to any other University for the fulfillment of the requirement of the course of study.Signature of the StudentBharati Vidyapeeth (To Be Deemed) University, Institute of Management & Research, New DelhiAn ISO 9001:2008 14001:2004Certified InstituteA-4, Paschim Vihar, New Delhi – 110063 (Ph.: 011-25284396, 25285808 Fax: 011-25286442)Ref: Date:Certificate of OriginalityThis is to certify that the Summer Training Project Report Titled “…………………………………” Submitted to Bharati Vidyapeeth Deemed University Institute of Management and Research, New Delhi in partial fulfillment of the requirement for the award of the MBA is an original work carried out by “Name of the Student” under the guidance of “Faculty Guide”. To the best of Project guide’s knowledge and belief the matter embodied in this project is genuine work done by the student and has been submitted neither to this University nor to any other University for the fulfillment of the requirement of the course of study.Name of the Project GuideBharati Vidyapeeth (To Be Deemed) University, Institute of Management & Research, New DelhiAn ISO 9001:2008 14001:2004Certified InstituteA-4, Paschim Vihar, New Delhi – 110063 (Ph.: 011-25284396, 25285808 Fax: 011-25286442)Ref: Date:CertificateThis is to certify that the Project titled“”is an academic work done by“”submitted in partial fulfillment of the requirement, for the award of the Degree of Course, from Bharati Vidyapeeth Deemed University, Pune. It has been completed under the guidance of Mr. Rahul Gupta (Faculty Guide) and Dr. Nutan Kaushik (Corporate Mentor). We are thankful to Fortis Healthcare for having allowed our student to undergo project work training. The authenticity of the project work will be examined by the viva-voce examiner, which includes data verification, checking duplicity of information etc., and it may be rejected due to non-fulfillment of quality standards set by the Institute.Dr.Vikas Nath DirectorExecutive SummaryChapter 1IntroductionOverview of the whole industryHealthcare is the diagnosis, treatment and prevention of disease, illness, injury and physical and mental impairments in humans. Healthcare is delivered by practitioners in medicine, chiropractic, dentistry, nursing, pharmacy, allied health and other care providers. It refers to the work done in providing primary care, secondary care and tertiary care, as well as in public health.Healthcare industry comprises of providers of diagnostic, preventive, remedial and therapeutic services such as doctors, nurses, hospitals and other private, public, and voluntary organizations. It also includes medical equipments and pharmaceuticals manufacturers and health insurance firms.Importance of Healthcare IndustryAging populations and increasingly prevalent chronic disease are the fundamental drivers creating demand for expansion of lifestyle medical procedures and healthcare industry. There will be huge demand for medical technology products for years to come.Classification of Healthcare IndustryFor purposes of finance and management, the healthcare industry is typically divided into several areas. As a basic framework of defining the sector, the United Nations International Standard Industrial Classification (ISIC) categorizes the healthcare industry as generally consisting of:Hospital ActivitiesMedical and Dental PracticesOther Human Health ActivitiesThe third class involves activities of, or under the supervision of, nurses, midwives, physiotherapists, scientific or diagnostic laboratories, pathology clinics, residential health facilities, or other allied health professions, e.g. in the field of optometry, hydrotherapy, medical massage, yoga therapy, music therapy, occupational therapy, speech therapy, chiropody, homeopathy, chiropractics,etc.The Global Industry Classification Standard and the Industry Classification Benchmark further distinguish the industry as two main groups:Healthcare equipment and servicesPharmaceuticals, biotechnology and related life sciences Healthcare equipment and services comprise companies and entities that provide medical equipment, medical supplies and health care services such as hospitals, home health care providers and nursing homes. The second industry group comprises sectors companies that produce biotechnology, pharmaceuticals and miscellaneous scientific services.Problems of the Industry Healthcare Industry is facing random changes. The five major challenges faced by healthcare industry are as follows;Cyber SecurityInvoicing the Payment ProcessingPatient ExperienceEffective Payment ModelBig DataGrowth of IndustryThe healthcare industry in India stood as the fourth largest employer in 2017 as the sector employed a total of 3, 19,780 people. It is witnessing a huge investor demand from both global as well as domestic investors. The hospital industry is expected to reach $132 bn by 2023. Medical tourist arrivals in India increased by over 50% to 2 lakh in 2018 from 13 lakh in 2017. The diagnostics industry in India is currently valued at $4 bn. The share of organized sector is almost 25% in this segment.Players in IndustryDifferent players in the healthcare industry are as follows:HospitalsMax India Ltd.Apollo Hospitals Enterprise Ltd.Fortis Healthcare Ltd.Medanta-The Medi CityAction Cancer HospitalColumbia Asia HospitalDiagnostic CentersSRLPath Kind LabsDr. Lal Path LabsMedical Insurance CompaniesICICI Prudential Life Insurance Co. Ltd.Bajaj Allianz General InsuranceMax BUPA Health Insurance Apollo Munich Health InsuranceThird party Administrator Heritage Health TPA Pvt. Ltd.Genins India TPA Ltd.E-Meditek Insurance TPA Ltd.Size of the Healthcare IndustryThe healthcare industry in India stood at US $61.79 billion in 2017 and is expected to reach US$ 132.84 billion by 2023. India is experiencing 22-25 per cent growth in medical tourism and the industry is expected to double its size from the present (April 2019) US$3 billion to US$6 billion by 2020. The healthcare industry is projected to reach 280 billion US dollars in 2020, an increase from about 84 billion us dollars in 2014.The Healthcare industry in India has registered a growth of 9.3% between 2016-2019 as compared to sectoral growth rate in emerging economies such as China, Brazil and Mexico.Contribution of Healthcare industry in GDPIndian Government on healthcare is the highest among all the countries. The expenses of these industries comprise 5.25% of the GDP. There is a significant scope of enhancing healthcare services considering that healthcare spending as a percentage of Gross Domestic Product (GDP) is rising.The government’s expenditure on the health sector has grown. to 1.4 per cent in FYI8E from 1.2 per cent in FY14. The Government of India to increase public health spending to 2.5 percent of the country’s GDP by 2025.The healthcare industry in India, accounting for 80% of the total healthcare market, is witnessing a huge investor demand from both global as well as domestic investors. The hospital industry is expected to reach $132 bn by 2023 from $ 61.8 bn growing at a GGSR of 16-17%. The Indian Healthcare Industry earns revenue for 5.2% of the GDP.Total Employees in Healthcare IndustryIndian Healthcare Industry provides employment opportunities to as any as 4 million people in the healthcare segment or related sectors catering to the needs of medication. The healthcare industry in India stood as the fourth largest employer in 2017 as the sector employed a total of 3, 19,780 people.Profile of the Company History of the companyFortis Healthcare Limited is a leading integrated healthcare delivery service provider in India. The healthcare verticals of the company primarily comprise hospitals, diagnostics and day care specialty facilities. Currently, the company operates its healthcare delivery services in India, Dubai, Mauritius and Sri Lanka with 43 healthcare facilities (including projects under development), approximately 9,000 potential beds and 392 diagnostic centers. In a global study of the 30 most technologically advanced hospitals in the world, its flagship, the Fortis Memorial Research Institute (FMRI) was ranked no. 2 by topmasterinhealthcare.com and placed ahead of many other outstanding medical institutions in the world.Fortis Healthcare Limited is a chain of hospitals, headquartered in India. Fortis started its healthcare operations from Mohali where first Fortis hospitals are started.It was initially founded by Shivinder Mohan Singh and Malvinder Mohan Singh.Over the year, Fortis Healthcare Limited and its subsidiaries through its hospitals and foundation across India is committed towards providing healthcare for the socially marginalized and deprived sections of the society. They not only make sure that our programs are efficient, but also ensure that they are substantial and relevant to those meant to benefit from them. About Fortis Hospital, Shalimar Bagh, New Delhi, is a Multi-super specialty hospital offering super specializations with departments with the mission of providing quality medical care.It commenced its operations in the year 2010 and is equipped with 262 beds.The hospital is spread over an area of 7.34 acres with built up area of 3.87 lakhs sq. ft. at Fortis Hospital Shalimar Bagh New Delhi they strive to bring a wealth of medical expertise with the finest talent amongst doctors, nurses, technicians and management professionals in an environment that enables them to deliver the highest quality of healthcare through state of art facilities. It strives over to be the champion for quality and patient centricity and is an NABH accredited hospitals.The brand and the LogoThe Fortis brand with its distinctive logo is a synthesis of human values of trust, ethics and service and quality healthcare. They project clinical excellence, distinctive patient care, transparency in actions and high level of integrity and excellence in all that they do. The logo projects these very values. The integration of the hands (in a distinctive “green” with a “red dot”) and the human figure is completely seamless and is representative of ‘Fortis’ responsive approach to healthcare. The green color of hands is representative of health, well being, compassion, nurturing and generosity while the red dot gives an immediate association to our Indian roots, while it also represents energy, spirituality, courage and symbol of good luck. At Fortis, we intrinsically believe that excellence is not a destination –but a journey.Vision of the Company“Saving and Enriching Lives”Mission of the Company“To be a globally respected healthcare organization known for Clinical Excellence and Distinctive Patient Care.”USP of Fortis HospitalBiggest chain of HospitalState of updated technologyAll the things are under one roofBetter FacilitiesValuesPatient CentricityCommit to best outcomes and experience for our patients.Treat patients and their caregivers with compassion, care and understanding.Their patient needs will come firstIntegrityAre principled, open and honestModel and live their valuesDemonstrate moral courage to speak up and do the right things.TeamworkProactively support each other and operate as one team.Respect and value people at all levels with different opinions, experiences and backgrounds.Put organization needs before department/self interested.OwnershipAre responsible and take pride in our actionsTake initiative and go beyond the call of duty.Deliver commitment and agreement made.Competition InformationFew competitors of Fortis Healthcare Limited are as follows: