RELATIONSHIP BETWEEN LOCUS OF CONTROL AND FINANCIAL WELLBEING AMONG AYURVEDIC DOCTORS IN KERALA

Abstract

Healthcare is an emerging area not only in Indian economy but also in global economy. This is the strongest reason that has spurred the number of healthcare organizations and hospitals of all types. More specifically, Kerala (India) is known for its Indian indigenous medical practices. Though, medical tourism has placed Kerala on global geographical map, still there is a long way to go. In our interaction with some of the medical professionals (Ayurvedic Doctors) in Kerala, it has been found that these medical doctors are facing several challenges ranging from manufacturing of ayurvedic medicines, its marketing and other legal issues which has spillover effect on their financial well-being. However, if these doctors will determine their locus of control they can overcome some challenges. With this backdrop, the present study explores the empirical relationship between locus of control and financial well-being among ayurvedic doctors of southern part of India (Kerala). Data has been collected through questionnaire-based survey and analysis has been carried out with the help of SPSS (Version 25). The results indicate that there is a positive relationship between locus of control and financial wellbeing in healthcare context but it is insignificant. Therefore, future researchers are encouraged to replicate this study in other states of India and in a large sample.