Revenue of private hospitals to grow 10-11 percent in financial year 2022-23, 2023-24: Report
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New Delhi: Revenue of private hospitals will grow 10-11 percent in financial year 2022-23 and 2023-24, supported by increasing domestic demand and pick-up in medical tourism, says a report. According to the Crisil Ratings report, revenue of private hospitals will grow on the back of healthy bed occupancy and sustenance of high average revenue per occupied bed (ARPOB).
In FY22, private hospitals had reported an all-time high operating profitability of 19 percent due to a surge in treatment during the second wave of the COVID-19 pandemic, which also pushed up occupancy levels, and, later, pent-up demand for elective surgeries, it said.
"Growing health awareness, especially after Covid-19, leading to increase in domestic demand together with recovery in medical tourism, will ensure bed occupancy being maintained at almost similar levels of 60 percent (past five fiscals average) even as bed addition continues," Crisil Ratings Senior Director Anuj Sethi said.
Sethi further noted that occupancy dipped only once during this period to 53 percent due to lockdown enforced during the first phase of the pandemic.
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