Hi Roopam Mehta,

The Indian medical diagnostic market has grown by almost 15% in the last decade. It is now a 40,000 Crore industry spanning all over the country. An increasing number of healthcare entrepreneurs plan to open a diagnostic clinic and want to know how to open a medical lab.

The growing number of path lab centers in tier II and III cities reflects a prospective market for future healthcare entrepreneurs.

The basic requirements to start a medical lab are discussed below:

1. Registration – First of all you have to fulfill various license and certification processes.
2. Location – Another critical factor will be to choose an area where the lab will be accessible to a large number of patients.
3. Instrument – The whole process would be (https://www.bajajfinserv.in/insights/path-lab-centres-in-tier-ii-and-iii-a-growing-market-for-doctors-to-leverage) incomplete without a proper plan of the necessary equipments, peripherals. Point of Care medical equipment are a necessity in a modern path lab.
4. Staff – Trained and competent staff is a must have for every medical clinic.

Other than the above-mentioned requirement, labs also require substantial financial backing to pay for the essentials.

All the best.

Hello,

In India, the healthcare industry is one of the fastest-growing industries. India has a huge number of modern hospitals and high-end diagnostic labs as a result of its growing population and residents becoming more health-conscious. Let's take a look at some of the most important steps to starting your own pathology lab:

• Starting a Pathology Lab: Planning and Research
  Make sure you plan everything ahead of time. If things don't go as planned, proper planning might help you limit your financial losses. You'll also need to devote time to finding the ideal site for your pathology lab. Make certain that the venue you select is clean and easily accessible to the public.
• Pathology Lab Requires Infrastructure and Medical Equipment

  You must make sure that your pathology lab has all of the necessary amenities, such as a reception desk, clean restrooms, lift services, and wheelchairs. You'll also need to make sure your pathology lab has all of the necessary equipment, such as blood collection equipment, X-ray machines, CT-scan machines, USG machines, and heart monitors. To guarantee that the quality offered by your pathology lab is high, you must also take care of peripherals such as microscopes, blood cell counters, centrifuges, reagents and chemicals, dispensing scales, deep fridges, and so on.

• Staff
  To run your pathology lab successfully, you'll need to hire experienced and well-qualified employees. Make sure you have a recruitment strategy in place to help you hire the right employees. You'll also need to hire physicians, nurses, pathologists, and management executives. To ensure the success of your pathology lab, you will need to hire administrative staff, HR, accountants, and housekeeping personnel in addition to the core team.
• Registration and License
  You'll need a variety of licences to start your own pathology lab. These licences differ from one business to the next, according to the law. Before you establish your pathology lab, however, you must take legal steps and seek for licences. Before you start building and certifying your pathology lab, you must first register it with the government. The following are some of the licences needed to open a pathology lab:
• Certification from National Accreditation Board for Testing and Calibration Laboratories (NABL)
• Certification from Good Clinical Practices (GCP)
• Registration with Shops and Establishments Act
• Registration with the Clinical Establishment Act Registration with biomedical waste disposal body
• Approval for waste generation from state pollution board
• No Objection Certificate (NOC) from the fire department
• NOC from municipality
• Finances
• A pathology lab requires a significant sum of money to set up. Starting your own pathology lab will require you to pay for a variety of fees, ranging from infrastructure development to equipment purchases to employing and paying workers. The total cost of your pathology lab may be determined by how technologically advanced you want it to be. Because securing a large sum of money can be difficult, you may want to explore obtaining a business loan for doctors. You may now apply for business loans online from the comfort of your own home with renowned financial institutions.
  Several financial firms provide doctor loans with low interest rates. Furthermore, if you have a good credit score, you can get a larger loan amount at a lower interest rate. Before asking for a doctor loan, it's a good idea to double-check your eligibility.

Hope That answers your question