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Robot assisted surgery has much better postoperative outcomes, but its widespread adoption depends a lot on the reduction in the cost of the equipment, say experts.
While the high cost of a robot, which may range between Rs 6-14 crore approximately, may prevent many hospitals from bringing these advanced technologies for the benefit of patients, training of doctors in carrying out these procedures is equally important.
The US based-Vattikuti Foundation has helped prepare 300 robotic surgeons in India since 2011 by bringing in nearly 150 internationally acclaimed experts in the area to hold master classes, performing and observing live robotic surgeries in eight specialities.
“India has over 300 trained robotic surgeons in eight specialities — gastrointestinal, urology, oncology, head and neck, thoracic, gynaecology, general surgery and bariatric,” Mahendra Bhandari, CEO, Vattikuti Foundation, told IANS.
“Patients in India are willingly opting for robotic surgeries for their treatments. Not only patients, young surgeons are leaving the old way (conventional surgeries) and they want to be a robotic orthopaedic surgeon now,” said Bhandari, while addressing orthopaedic surgeons at a master class on computer-assisted joint replacement surgery here on Saturday.
Mahak Baid, an orthopaedic surgeon from Kolkata said that even though robotic-assisted surgery is an advancement, the only thing that needs to be worked upon is cost-effectiveness.
“In a country like India, robotic surgery has to be economically viable. The robot itself costs a lot. So it is not just about the patients, it has to be economically feasible for the hospital as well,” he added.
However, the doctor said robotic surgeries will eventually grow in India.
“I have been using MAKO robots for the last two years and I’m extremely happy with the results. we’re able to do total hips, total knee and partial knee replacements. With robotics, we can do enhanced pre-planning much better than conventional methods,” Thadi Mohan from Amrita Institute of Medical Sciences, Kerala, told IANS.
“After the robotic surgeries, patients recover faster. Chances of revision become much less. Implants will last longer. There is also a change in the mindset of people as there are now a good number of trained surgeons,” he said.
“The only thing holding back robotic-assisted surgeries in India are easy availability. It may take time but eventually it will become cheap and then more people will be able to use it,” he stressed.
Bhandari urged global medical devices and pharma firms to bring their technology to the Indian market expeditiously so that the Indian patients do not have to wait for decades to be able to access the most advanced technology, drugs and implants.
When asked about the future of robotics in India, Brian Davis, Professor of Medical Robotics at Imperial College London told IANS that it cannot grow overnight.
“Many of Indian orthopaedic surgeons have been overseas and trained in countries where high-tech systems are quite normal, so they come in and act as mentor for junior Indian surgeons. So, it’s gradually going to come about that you will have more and more experienced mentors but it’s going to take a while,” Davis added.
Many of the orthopaedic surgeons at the conference said that robotics-assisted bone replacement surgeries are far better and safer because of its consistency and precision than the conventional methods.
Joint replacement surgeons cited published studies that revealed that computer-assisted total knee arthroplasty leads to significantly lower blood loss, infections, inflammation and need for revision surgeries.
“The cost is major factor and rightly so. It takes years to develop this kind of technologies. So by the time they come in practice, the machine costs a lot. Naturally robotic companies with huge investment want to recover their money and India and other developing countries are not their priamary market, Bhandari said.
“The Vattikuti Foundation tries to bring these technologies once they are established. Our model is that we want to exploit the high volumes of the patients in low margins in order to make it cost-effective. And cost should not be major consideration while using a technology, cost is bound to come down the moment the technology used by more and more people,” he said. (IANS)
By- Blogger Indifi
EMI is known as equated monthly installments. It is a fixed payment made by the borrower each month to repay the loan amount. The EMI is divided into two loan components. One is the principal amount, and the second is the interest amount. Whether you are applying for a personal loan, business loan, home loan, car loan, or education loan, EMIs are easy to calculate using the EMI loan calculator.
Three parameters based on which EMI calculator works:
- Loan amount.
- Repayment tenure.
- Rate of interest (offered by the lender).
Factors that affect the Loan EMIs
Above, we have discussed the main parameters on which loan EMI is based. Here are the factors that affect the EMIs.
Changes in the loan interest rate: There are three loan interest rates -- fixed, floating, and hybrid.
When an interest rate offered on a loan is fixed, in that scenario, there are no changes in the EMIs.
A floating interest rate is linked to the marginal cost of the fund-based lending rate and can change the loan EMIs. As the rate is flexible, it keeps changing per the repo rate.
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If you have taken the loan on a hybrid interest rate, the interest rate is fixed only for a particular tenure. After that, it is on MCLR to decide the interest rate, and based on the determined interest rate, the EMI changes.
Tenure: When you opt for a loan transfer from one lender to another, there may be a possibility of change in the loan tenure. It will also bring changes in the EMI calculations. If the tenure increases, it will decrease the EMI. In case the tenure is reduced, EMI will increase.
Sample loan chart of a business company Image source: wikimedia commons
The loan amount of repayment is also a reason that affects a loan's EMI. If you make a loan prepayment, it reduces the outstanding principal amount, based on which the EMI amount or tenure is changed.
Benefits of using an online EMI calculator:
- Find out exact EMIs to be paid monthly for any loan.
- Saves time.
- Get a detailed overview of loans applied using the amortization schedule.
- Plan your monthly finances well in advance.
You can set multiple schedules and loan tenures. After a detailed schedule comparison, choose the one that suits well with your financial requirements.
Significance of loan amortization schedule in EMI calculator
A loan amortization schedule data shows the EMI break-ups. It shows how much EMI you need to pay for interest and what you will pay as the principal amount. It is one of the most significant advantages of using the EMI calculator. The EMIs that you pay as principal will keep reducing the loan's principal amount. It will also result in decreasing the interest amount. You will get to know all these things when you use the EMI loan calculator frequently. The amortization schedule is one of the essential features of an EMI loan calculator that helps design the proper prepayment schedule.
The different types of EMI calculators
Home loan EMI calculator
Home loans are one of the most popular and common loans applied for in India. It has a long tenure and a sizable principal amount. Whenever you apply for a home loan, it is essential to do all the EMI calculations in advance. There are various home loan EMI calculators available online with every home loan provider. All that is required to calculate the EMI is the loan amount, tenure, and interest rate. Using a home loan EMI calculator can help you easily plan your finances.
Business loan EMI calculator
Like home loans, business loans also come with a massive principal amount and longer tenures. So, using the business loan online EMI calculator is a smart way to calculate the business loan EMIs. Requirements are the essential loan details, such as repayment tenure, interest rate, and the loan amount. Online, equated monthly installment is automatically calculated at the lender's website.
Personal loan EMI Calculator
Personal loans are multipurpose. It is the reason they are considered as the most applied loan to meet immediate financial requirements. For choosing the right loan amount, you must use the personal loan EMI calculator. It will help you to choose the best interest rate loan offer and tenure. Try to go with the shorter term to pay less interest on the principal amount.
Sample of External Loan amounts Image source: wikimedia commons
Education loan EMI calculator
Education costs increase each year and can cause financial strains on a family. If you are planning to send your child overseas for higher education by applying for an education loan, at that time, the EMI calculator proves to be the best online financial tool. It will help you to decide the right EMI amount where your daily expenses remain unaffected.
Simple interest loan EMI calculator
An EMI calculator is used to calculate the simple interest applicable on the loan amount for a specified tenure. It is one of the most accessible financial tools. All that is required is tenure, a simple interest rate, and the borrowed amount. After that, click on 'calculate' to know the exact EMI to be paid.
Loan against property EMI calculator
If you have any residential or commercial property registered in your name, you can apply for a loan against the property. It is a kind of secured loan, where the property is kept as collateral. To understand how EMI works under this loan scheme, use the loan against the property EMI calculator.
Overall, EMI loan calculators are one of the best financial tools to compare varied loan offers. It provides a clear picture of the total cost of the loan and respective EMIs to be paid monthly. Online EMI calculators are available on every lender's website; whether you are applying for a business loan online, home loan, car loan, personal loan, or any other loan, using the online EMI calculator can help. Just with a click of a mouse, you can keep control of your financial life.
The online EMI loan calculator has been programmed with the formula based on the loan applied. There is no need to worry about the accuracy of the result. All that you are required to share for the calculator to do its job accurately is the right amount, tenure, and interest rate offered by the lender.
Disclaimer: (This article is sponsored and include some commercial links)
Representation of the Swastika on the flag of Adolf Hitler's Nazi Movement.Photo by Flickr.
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