There is a continuous need to regulate the healthcare industry and to focus on alternative systems of medicine such as Ayurveda, according to Chief Economic Advisor to Government of India Krishnamurthy Subramanian.

While participating in a coffee-table conversation with KT Rama Rao, President, Telangana Rashtra Samithi (TRS), at BioAsia 2019 here, he said: “Unlike other sectors, healthcare may not be an industry where unregulated markets are allowed to function. There should be no laissez-faire here.”

Conflict of interest

When challenged by Rao on how regulation and price control could be justified in a research-driven industry with high costs of discovery, the CEA maintained that whenever a provider is also a supplier, the resulting conflict of interest will call for regulation. “Sub-optimal outcomes are likely in unregulated heatlhcare markets,” he said.

Referring to the state of affairs in healthcare delivery, the economist said healthcare should move from the present curative to preventive role with focus on well-being.

“India recognises alternative medicines such as Ayurveda.... In 15 to 20 years, I foresee diagnostics in Ayurveda,” he said, adding that relevant technology might come up.

Citing a personal experience, he said the popular ‘fish medicine’ distributed every year in Hyderabad to patirnts asthama was an “effective cure,” which surprised some delegates.

Federalism

The conversation took a political turn when Rao asked Subramanian why States should not be given a freehand in healthcare. “Why should a primary healthcare centre wait for funds from the Centre? Why can’t health and education be taken out of the Concurrent List and be placed in the State List?” he said.

Subramanian, who continued to stress importance of federalism, chose to answer it with a counter question: “Why should States give funds to districts?”

Clinical trials

Earlier, in his keynote address, Bhadri Srinivasan, Head, Global Development Operations, Novartis, said there is a need to bridge the gap between clinical research and clinical care.

“Only 2 per cent of patients who are eligible to undergo trials are participating in clinical trials now. Trials should be offered as a valid and visible treatment option,” he added.

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