ITC Ltd plans to set up multi-speciality hospitals that will set “a new standard” in healthcare.
Announcing the cigarette maker ’s plans to enter the healthcare segment, Chairman YC Deveshwar on Friday said that patient well-being rather than revenue would will be the focus of ITC hospitals.
The company would “start with one” multi-speciality hospital. The investment outlay for the proposed healthcare project, location of the hospital and probable time frame for implementing the project are yet to be decided.
“There have been a lot of complaints against hospitals using patients as a tool for revenue. We will look at setting up a multi-speciality hospital where patient well-being rather than revenue will be the focus,” he told reporters at a press conference after the company’s annual general meeting.
ITC’s hospital, he said, would not link doctors’ remunerations to revenue from patients. Rather, it would follow a “different model”, being worked out.
“We will create a new standard in healthcare by making patient care as the central focus, and not incentivise doctors to create revenue,” he said.
The diversified conglomerate is scouting for a Chief Executive Officer for the hospital project to finalise a roadmap for investment.
ITC has already amended its Memorandum of Association to accommodate its entry into the healthcare business.
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