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“Heath Tourism is to provide World Class Health treatment at competitive affordable prices”.
PREPARED BY: Dhananjay Kumar Jaipuria institute of management, Noida
Anatomy of Medical Value Travel
Travel tourism pleasure, physical & mental relaxation value addition of medical treatment at lowest cost
• Medical tourism is the practice of a patient "outsourcing" healthcare services to an area outside of his/her home country. • Medical Tourism also known as medical travel ,health tourism or global healthcare is a term initially coined by travel agencies and mass media to describe the rapidly growing practice of travelling across international border to obtain health care.
Such Services include complex specialized surgeries such as Joint Replacement, (Knee/Hip), Cardiac Surgery, Dental Surgery & Cosmetic Surgery, and Ayurvedic treatment. However every type of health care including psychiatry, alternative treatment, convarescent care & even burial services are available.
INCREASING POPULARITY :
Some important reasons for increasing popularity of MEDICAL TOURISM are :
5)Potential savings :
Medical tourism is an affordable alternative to skyrocketing costs of health care. Cost for major surgeries in U.S can run into hundreds of dollars while the same surgery in a country like India or Thailand can be as a tenth of that. Health care cost in U.S is more due to higher administrative and insurance costs . A heart-valve replacement that would cost $200,000 or more in the US, for example, goes for $10,000 in India-and that includes round-trip airfare and a brief vacation package.
2) Shorter waits :
Even people who live in countries with public health care coverage often choose treatment abroad because overburdened hospitals and doctors can have long wait periods for surgeries. In most countries where medical tourism is popular , wait times are almost non existent. Patients can usually be scheduled for a surgery within a few days or weeks allowing patients convenience. 3) Relaxing Recovery : Travelling for medical treatment gives people the added benefit of helping themselves to a relaxing vacation while they are in recovery .
4) Insurance Coverage :
While it isn’t a guarantee , there are some insurance plans that will cover treatment that is performed outside of your home country . More and more insurance providers are covering treatment abroad , as it saves them in costs also.
5) Same Facilities And Equipments As Home :
Since medical tourism is such a big industry, hospitals are making big investments in equipment and technology to help them draw more patients. Some hospitals have even made names for themselves as world class research centers.
6) Package deals :
If people are unsure where to start when getting medical tourism abroad , package deals can be a great time saver . Many companies specialize in providing patients with not only treatment , but vacations afterwards.
7) Surgical Options : While most popular options are cosmetic and dental surgeries, the reality is that there is a growing market for a wide variety of procedures including heart surgery , orthopedic hip and knee replacements , etc.
8) Luxury Accommodations:
Many hospitals that cater to medical tourists are corporately owned , this can be real boon to patients , who benefit from private rooms and accommodations. People usually expect a high level of personal care and attention which they can easily get in these hospitals.
Medical Tourism Destinations
Cost and quality are obviously the most important factors patients consider in choosing specific destinations for treatment. But many patients also consider amenities commonly found in resort & hotels
•THE AMERICAS • Argentina • Brazil • Canada • Colombia • Costa Rica • Cuba Mexico • Panama • United States • Uruguay •ASIA/PACIFIC • China • Hong Kong • India • Israel
• • • • • • • • •
Jordan Malaysia New Zealand Philippines Singapore Taiwan Thailand UAE
EUROPE • Cyprus • Germany • Malta • Portugal • Spain • Turkey • Ukraine
India is a popular destination for medical tourists. It arguably has the lowest cost and highest quality of all medical tourism destinations, and English is widely spoken. India’s medical tourism sector is expected to experience an annual growth rate of 30%, making it a Rs. 9,500-crore industry by 2015 estimates of the value of medical tourism to India go as high as $2 billion a year by 2012. India is known in particular for heart surgery, hip resurfacing and other areas of advanced medicine.
English is also widely spoken in this former British colony, located approximately 1,000 miles south of Bangkok. Singapore has modern, high-quality hospitals and is home to three hospitals accredited by the JCI. Prices are higher than in Thailand or India but are much lower than in the United States Singapore's position as a medical hub and promoting Singapore as a destination for advanced patient care
This popular destination for medical tourists rivals India in price and quality. Thailand’s large tourist industry is one reason it has a better infrastructure and less noticeable poverty than India. Prices are typically not as low as in India, and Thai hospitals do not offer fixed pricing. Bangkok’s Bumrungrad International Hospital is a world-class private health care facility built for wealthy Thais, but foreigners comprise more than one-third of its patients Treatments for medical tourists in Thailand range from cosmetic, organ transplants and orthopaedic treatments to dental and cardiac surgeries.
AMERICAN COUNTRIES ARGENTINA
Surgeons in Argentina have treated foreign patients in cosmetic surgery for years. Argentina has many surgeons trained and with practice in US and/or Europe. Citizens from the US and European Community do not require a visa It has been known for cut-rate plastic surgery, and more advanced treatments are becoming available.
Canada has entered the medical tourism field. In comparison to US health costs, medical tourism patients can save 30 to 60 percent on health costs in Canada.[ Canada's quality of healthcare is cited by the World Health Organization as equal to if not better than that of the US in most categories.
U.S is a wealthy nation & there is high expense on health care and that is why Americans can't afford health care at home .
Now, it has been noted that the decline in value of US dollar is offering
additional incentive for foreign travel to the U.S The availability of advanced medical technology and sophisticated training of physicians act as driving motivators for growth in foreigners traveling to the U.S. for medical care. Major medical centers and teaching hospitals offer international patient centers who seek medical treatment in the U.S of foreign patients. These organizations offer service coordinators to assist international patients with arrangements for medical care, accommodations, finances and transportation including air ambulance services.
PlanetHospital Global Choice Healthcare MedRetreat Globe Health Tours Allopathic Hospital Wockhardt Ltd. Future Plans and Strategies Apollo Hospitals Enterprise Ltd. Future Plans and Strategies Max India Ltd. Future Plans and Strategies Fortis Healthcare Ltd. Future Plans and Strategies SRL- Ranbaxy Future Plans and Strategies Ayurvedic Resort & Spa Ananda - In The Himalayas Kairali Ayuavedic Health Resort Soukya Taj Ayurveda Centre
KEY INDIAN PLAYERS
Apollo Hospital Hyderabad
Max Hospital Delhi
Fortis Hospital, Delhi
Jaslok Hospital, Mumbai
Breach Candy Hospital
Wokhardt Hospital Bangalore
SOME FACTS: India is rated amongst the world’s “must see top ten destination” by Conde Naste (international magazine) Confederation of Indian Industry (CII) sponsored Mc Kinsey & Co. study.–“Healthcare in India : The Road Ahead” report: 1.3 million medical tourists visit Asia / year Nos. of US patients seeking cheaper care abroad - grew to 7,10,000 / year Over 1, 50000 medical tourists travelled to India in 2002 bringing in earnings of $ 300 million. 2006-07 > 3,00000
A forecast by Deloitte Consulting published in August 2008 projected that medical tourism originating in the US could jump by a factor of ten over the next decade An estimated 750,000 Americans went abroad for health care in 2007, and the report estimated that a million and a half would seek health care outside the US in 2008. The time spent waiting for a procedure such as a hip replacement can be a year or more in Britain and Canada; however, in New Zealand, Costa Rica, Singapore, Hong Kong, Thailand, Cuba, Colombia, Philippines or India, a patient could feasibly have an operation the day after their arrival. In Canada, the number of procedures in 2005 for which people were waiting was 782,936.
With global revenues of approximately US$ 20 Billion (2005), the medical tourism industry is one of the world's largest industry. India's cost effective treatment makes it an important player in this industry Growing Medical tourism in India will be one of the major sources for foreign exchange. With increasing number of non-insured population in western countries and increasing healthcare expenditure to GDP resulting in people opting for treatment choices outside their country.
COMPARATIVE ANALYSIS IN USD
Procedure US UK Burmungrad Bangkok 4000 - 5000 1100 Max Healthcare (INDIA) 4000 – 5000 400 6000 6000 6400 22502900 750 400 Raffles Singapore 5000 800 6600 6000 9600
Angioplasty Angiography Hip replacement Knee replacement CABG Lasik
30000 2500 3000 19000 2700032000 30000
2100027000 2000 1300016000 1600018000
(Note: all costs in us$)
Unique medical value services to foreign patients that supersedes the competition :
Yoga Meditation /Spiritualism Ayurveda healing “India offers a unique basket of services to an individual that is difficult to match by other countries” (CII) 23
“First World Treatment at Third World Costs”
Lower Medication cost:
•Strong Pharma Sector and gaining world recognition • Fast emerging as major Drug R&D Center • Strong Generic drugs business •Low cost of drug development in India •No waiting
• 5000 year old civilization • Renowned for Historical, Cultural and Religious diversity • Diverse geographical landmarks; vast coastline • Traditional arts and crafts • Vibrant democracy: Freedom for citizens; empowered women population
India has number of World Heritage Monuments & Archeological sites attracting tourists /medical tourists – Requirement strategic marketing for Medical Tourism World heritage sites- Taj Mahal, Ajanta & Ellora, Khajuraho, Bhimbetica rock paintings Buddhist sites – Shravasti, Kushinagar Ancient & religious places – Varanasi, Udaipur, Cultural /Festival tourism – Ladakh festival, Khajuraho festival Winter Sports best sites -Skiing – Gulmarg, Auli
Disadvantages of Medical Tourism:
•Going to foreign country for medical treatment has its own risks as the country you go to may not regulate professional licensing and certification of the medical professionals. •You might end up traveling too soon after a surgery and this can cause serious complications like blood clots or pulmonary embolism. In addition, you can suffer from swelling and/or infections. •Usually post-operative care is minimum and limited as most hospitals believe in getting in patients and then releasing them quickly and there will be hardly any postoperative care.
Disadvantages ( contd…….)
• Going to a foreign country for treatment means that you will not have immunity prevalent in that country and this can pose the risk of catching an infection. • If something goes wrong during the medical procedure you will have very little legal recourse. • Although medical tourism is not the perfect solution to fight rising medical costs in the United States, it does offer a viable and feasible alternative to many people.
OUTSOURCING THE HOMELY CARE
The size of Indian Medical Tourism sector estimated in 2008 to be min 1,00000 to 1,50,000 foreign patients per year (Medical Tourists) .
The annual growth rate of Medical Tourism in India » 2000 – 15% per year
» 2007 – 30% per year
Kerala and nearby places - > 8000 patients annually.
Our business idea is to form a network of house holds who are willing to take care of patients recovering from their illness after the treatment. It is basically a post treatment and a peaceful retreat for the patient and their family. These house holds are residing in serene places such as Ooty , Shimla , Nainital , Kasauli , Mussourie, Uttarakhand and other places that are blessed by nature in terms of scenic beauty.
Certain criterion for the households
Their criminal records will be checked . They should own a house which is well furnished and it should have minimum of three rooms vacated specially for these tourists. These households must be the residents of that region for more than 10 years . Their minimum monthly income should be more than Rs. 40000 . They should allow some staff or assistants with the patients if necessary.
These criterions will be set by hospital authority and they would be responsible for investigating that all the criterion are being fulfilled by the households. They will go the places of these households and check all the standards that are being set by them are being met . And then after that they will be certified to carry out the business.
Moreover these hospitals will ensure that there are necessary facilities like nursing , medicines , and doctors in the case of emergency . They will arrange for ambulance and other facilities like cab ,etc for these tourists.
This will be beneficial for :
Hospitals for earning revenues Patients as they will get homely care which is missed by them most during treatment. Local households of peaceful and serene places such as hill stations , etc .
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