Medical tourism provides patients with the opportunity to receive top quality medicalservices in foreign countries at lower prices than in their western countries. First worldtreatment at third world cost.Concept And FactsIndian healthcare industry isone of the top growingindustry, contributes 6-8 %of GDP. Medical tourismcould account for 3-5% ofthe total healthcare deliverymarket.India is rated amongst the world’s “mustsee top ten destination” by CondeNaste. Approx. 2.1 million tourist visitsasia in a year. In India Chennai andKerala are most preferred destinationfor Medical tourism.According to The World Travel TourismCouncil, Travel & Tourism generated, eitherdirectly or indirectly, $121 million of India’sGDP in 2011 and its 6.4% of India’s GDP in2011.
Company – Med Tour Pvt. Ltd.Legal : Will be incorporated under the Companies Act 1956Premium full service "medical tourism" agency (Niche).Ownership will be divided in equal shares among the Companys founders.Will provide service in 2 segments surgeries (cosmetic and non elective) andAlternative MedicineKey assets : Land of 8 acres (approx. 3000 sq. meter) and signed contracts with themedical and tourism facilities in Asia.Key Liability : It will have no liability except Capital.
Product and ServicesFulltimeMedicalTourismServiceAlternativeMedicineCosmetic &Non- electiveSurgeriesOther ServicesHelp with procuring a medical visaBooking travel to the country wherethe services will be providedAirport pick up and drop offConsultation with appropriatespecialistsPre-operation accommodationBooking into the hospitalAccommodationArrangements for post-operative careArranging travel Package for fellowmatesArranging emergency insuranceArranging Travel insurance.Arranging Health insurance
Market AnalysisMarket Size : $ 40 billion worldwide and 1.2 billion domesticGrowth Rate : 31 %Value Proposition : Less cost as compared to other Asian countriesCompetition from western & Indian countries.Competitive advantage : Niche Marketing, Alternative MedicineProcedure US ($) UK ($) Thailand($)India ($) Singapore($)Angiogram 12,000 6,000 1,500 800 1,904Angioplasty 57,000 16,000 13,000 7,000 9,900Heart ValveReplacement68,000 45,000 10,000 11,700 12,500CABG (By Pass) 54,000 57,000 11,000 9,200 15,300US. Based companies•Med Journeys•The Medtrava Group•Quest MedTourism•IndUShealth•Med RetreatIndian Companies•HelloMD.com•Indicure•JD healthcare•Life care & Hospility•Med Acess India
Human ResourceCEOVP(Service)ManagerMedicalServiceManagerTravellingServiceVP(Marketing)Manager(National)Manager(International)•Administrative staff•Housekeeping staff•Temporary staff•Commission based staffCo-ordinators And First Line StaffOther
Action Plan & FinanceStart up cost (Capital): 43,25000 INRAction Plan : As obtained from financial statements, the company expects to achieveprofitability by month 12. This will be achieved by gradually increasing the number of clientsper month from 3 in month one to 14 in month 12.Annual Expenditure: 31,55000 INRBreak Even : On month 1202000004000006000008000001000000120000014000001 2 3 4 5 6 7 8 9 10 11 12MONTHAMT. RECIEVED (AS 20% COMM.)
Use of Funds : Funds will be used to acquire office wherever needed, outfit theoffice with necessary equipment, hire key management and support staff, develop abest-in-class website and brand identity and begin marketing the Companysservices to potential clients.Balance Sheet: Funds will be used to acquire officewherever needed, outfit the office with necessaryequipment, hire key management and supportstaff, develop a best-in-class website and brand identity andbegin marketing the Companys services to potential clients.Acquiring Revenue & Profit: Company will work on20% commission on total budget of clients includinghealthcare and travel service.
Role Of Govt. BodiesHealthcare Regulatory bodies such as MCI,DCI,NCI etc.IRDAPharmaceutical Regulatory bodies such as PCI,FDA etc.Healthcare Regulatory bodies such as National Institute of Health and FamilyWelfare , the International Society for Quality in Health CareTourism Regulatory bodies such as International Civil aviationOrganization(ICAO), International Air Transport Association(IATA), World TourismOrganizationSupranational Regulatory bodies such as ASEAN, NAFTA, EU ,SAARC etc.Accreditation BodiesBureau of Indian StandardsNational Accreditation Board for Hospitals and Healthcare Providers (NABH)National Accreditation Board for Laboratories (NABL)CAP Laboratory Accreditation Programme