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"Where the cost saved could pay for a return ticket and expenses, medical tourism is bound to boom"
What is medical tourism or health tourism? Medical tourism in offers both a business and a value proposition.
In countries like India the medical tourism opportunity is unique as it offers holistic medicinal service. With yoga, meditation, ayurveda, allopathy, and other medical facilities, the medical tourist is offered a unique blend of services that will be difficult to match in other countries. They have the best medical talent with ample practice abroad.
Latest equipment in India will be identical to latest equipment in the U.S. or U.K. and Indian Hospitals like IMCL are receiving accredition from Joint Commission International of the US
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What is the USP that a country needs, to offer itself as a destination for medical tourism or health tourism?
tourism has to offer a business and a value proposition. Many developing countries are in
a position to offer medical services at one-tenth the cost compared to that in many
countries in the West, matching the quality at par with developed countries. Thus creating
an opportunity in cost-effective treatment and medical tourism.
Certain countries like India or China the opportunity is unique as it offers holistic medicinal service. With yoga, meditation, ayurveda, allopathy, and other medical facilities, they offer a unique blend of services to an individual that will be difficult to match in other countries.
How big is the market for medical tourism?
In United Kingdom, the National Health Service has a backlog of about 2,50,000 cases, which can be a ready market for other countries. If we take the annual medical spends in countries in Middle East, and other countries such United States and United Kingdom.
Can a big inflow of foreign tourists for medical benefits have an adverse impact on local medical services?
In medical tourism, we find there are five-star hotels that cater to high-end customers while there are those that are targeted at budget medical tourists who are looking for affordable cost-effective treatment. Similarly, under health tourism or medical tourism there would be hospitals that will target tourists and patients from abroad. Medical tourism can help to subsidise local medical services as they offer large volumes at better margins.
health tourism or medical tourism is a good business proposition by providing affordable
What are the challenges before the countries to develop as health tourism or medical tourism destination?
The biggest challenge is to position themselves as a favourable health care destination by setting high standards and work in association with the government and the medical council to see to it that all hospitals keep up to those standards. There is a huge market for health tourism in Africa. But it would not be possible to reach out to those markets without direct flights.
How is the healthcare industry in respective countries promoting their country as health tourism or medical tourism destination?
Thailand has world-class hospitals, and they are already hot on medical tourism destination. Singapore too has seen this opportunity early and their public health system is being accessed by medical tourists from many countries. Australia has also set up a huge health care infrastructure for health tourism or medical tourism. The Indian Health Care Federation is now working along with different industry chambers to promote medical tourism in the country.
Medical Tourism In Hong Kong
Hong Kong has a reputation for high standards, but the fees are relatively high.
Though Hong Kong has long been a destination of choice, lower costs are making increasing numbers opt to travel to other countries like India, Thailand and Malaysia.