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Stabroek News

Making money out of health care
published: Wednesday | March 5, 2008


Wendel Abel - I AM WHAT I THINK

Health care is an industry which provides a host of services - 24 hours per day and 365 days per year; it never shuts down. It provides services to individuals from the womb to the tomb and is, in fact, the largest industry in the United States.

Jamaica has a long history of training excellent health professionals, but we have never really capitalised on the economic potential of the health care industry in any serious way. It has been more talk and less action.

Here is a list of potential services:

1 Offshore medical and dental services: Given the cheap costs and availability of well-trained professionals, this has tremendous potential especially for Jamaicans and Caribbean people living abroad. We need to market ourselves better and upgrade our facilities. Many individuals are already offering these services, but sometimes what is lacking is a liaison service to assist clients with hotel arrangements, transportation and so on. The provision of liaison services could be another business prospect.

2 Training of health professionals: Health care professionals account for 10 of the top 50 'in-demand' occupations in the United States. The profession topping the list is nursing. It is estimated that the United States will need 1.2 million nurses in the next five years. Other professions in demand include doctors, dentists, physical therapist, medical technicians, pharmacists, radiologic technologists and technicians.

There are tremendous opportunities to train medical workers for export and the economy will benefit from their remittances. Establishing a training facility is a costly venture but we may have to look for joint partnerships. While we block progress in this area, other countries such as India, Cuba and the Philippines are training its people for export and we are turning to them for these professionals. Let us wake up and see the potential here.

3 Home nursing services: This is a growing component of the multimillion health care market as worldwide more people are being treated at home. Start thinking about this one!

4 Nursing care and residential care: This includes convalescent homes, nursing homes and rehabilitation facilities, residential care for the mentally ill, alcohol and drug abuse rehabilitation centres, group homes, special care facilities for the elderly and retirement homes.There is a great demand for these services and, surprisingly, among Jamaicans who live abroad. The demand for facilities providing care for older persons will continue to increase given the fact that the 60 years and over age group is the fastest growing segment of the population.

5 Medical transcription service: This service involves the documentation of medical records and has become a big component of the health care industry. This service includes providing service to individual doctors, hospitals or health service organisations in Jamaica or abroad.

6 Health spas, health and beauty care: Spas have become very popular and, given our booming tourist industry, will present even greater opportunity in the future.

I think there is tremendous potential for Jamaica to enter the health care world market but:

1. Let us do less talking and take more action.

2. We have to begin to provide high quality service which is consistent with international standards.

3. We have to begin to learn to work in teams. Many of our best health care workers continue to work alone and, if we are going to be more competitive and sustainable, we have to work in teams.

4. For many persons starting a business can be a challenge. Get yourself educated to overcome your fears and to improve your business management skills.

5. For many businesses you do not have to start big. Start 'low' and go slow (start with a low budget and allow the business to grow.)

6. Remember, we can achieve financial prosperity and satisfaction in health care. That prosperity can be yours, claim it today.



Dr Wendel Abel is a consultant psychiatrist and head, Section of Psychiatry, Dept. of Community Health and Psychiatry, University of the West Indies; email: yourhealth@gleanerjm.com.
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