Your SlideShare is downloading. ×
Philippine Medical Tourism Compendium 2011 (Facts, Figures & Strategies) - Preview
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

Philippine Medical Tourism Compendium 2011 (Facts, Figures & Strategies) - Preview

3,745
views

Published on

Philippine Medical Tourism Compendium 2011 (Facts, Figures & Strategies) - Preview

Philippine Medical Tourism Compendium 2011 (Facts, Figures & Strategies) - Preview

Published in: Health & Medicine, Business

0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total Views
3,745
On Slideshare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
93
Comments
0
Likes
1
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. THE PHILIPPINE MEDICAL TOURISM COMPENDIUM 2011 (Facts, Figures & Strategies) CLICK HERE TO ORDER EXECUTIVE SUMMARYThe global medical tourism market has become one of the fastest growing sectors in the worldeconomy, with revenues standing at approximately US$40 billion in 2010. Reflective of itsexplosive expansion, the industry is projected to grow to US$70 billion by 2013. Some earlierreports even estimated the total market size for both medical and wellness tourism to stand atUS$3 trillion.Given the industry’s potential in contributing to the national economy and its rich resource ofmedical professionals, the Philippines recognized the bright prospects of this industry as earlyas 2004. The question that this study wanted to determine is how successful was the country inputting in place the hospitals, healthcare and wellness facilities and infrastructure to enable itto significantly grab a piece of this global market. How does the Philippines rank today whenwe talk about medical tourism? What is the country doing in order to get a bigger share of therevenue?Our Asian neighbours – India, Thailand, Malaysia and Singapore have made purposive anddecisive moves to create the necessary infrastructure and policy and incentive framework forattracting visitors to come to their respective countries for medical and wellness services.As early as 2004, the Philippine government under the administration of President GloriaMacapagal Arroyo created the Philippine Medical Tourism Program (PMTP), a Public-PrivatePartnership Task Force for formulating and implementing development strategies that will helpmake the Philippines a hub of health and wellness tourism in Asia. The PMTP sought to enablethe Philippines to earn an estimated US$2 billion annual revenues from the global medicaltourism.Looking at what has been accomplished, there was obviously a failure to sustain and effectivelycapitalize on the momentum of the PMTP. This has resulted in a huge loss of opportunities inbillions of dollars in potential revenues through the years, not to mention thousands of neededjobs for the health, wellness and tourism sectors.A serious reassessment of the situation and the formulation of remedies and measures torevitalize the PMTP and to make it more relevant and viable in the context of the current Reproduction of this document in any manner is strictly prohibited
  • 2. THE PHILIPPINE MEDICAL TOURISM COMPENDIUM 2011 (Facts, Figures & Strategies)trends in medical tourism worldwide are necessary to enable the Philippines to get a significantshare of the rapidly growing international market for medical tourism, which is projected togrow at an average annual growth rate of 19% over the next three years.This study determined that the Philippines is still poised to gain a significant share of theworldwide market. It indicated that the country can capitalize on its competitive advantagethat consists of two market determinants in the international medical and wellness market keymedical service activities and market segmentation.Based on comparative cost analysis, the country does not only possess competency strengthsin the medical and wellness markets, but also the competitive advantage to compete head-onand acquire a significant share in specific service segments: Elective Surgery (specifically cardiovascular care, joint replacement, and eye care) Aesthetic Services (dermatologic, plastic and reconstructive surgery, and dental care) Wellness Treatments and Alternative Medicine (including spas, executive check-up and diagnostic procedures, and alternative therapies such as stem cell or regenerative medicine)On the other hand, the study also established that the primary target for Philippine healthservices principally should be segmented into two key market clusters: the Filipino Balikbayanmarket which comprises Filipino immigrants and those of Filipino descent who are permanentresidents in the US, Australia, Canada and other countries. The number of Balikbayans runs upto close to 10 million around the world, and many remain in constant communication withclose relatives at home.The second market consists of foreign nationals who look for more economical medical,healthcare and wellness services. The study determined the push factors that favour a decisionby foreign patients to seek medical and healthcare treatment and procedures abroad, inparticular in the Philippines because of its competitive advantage in the three servicehealthcare segments mentioned above. Because of the sheer size, they constitute a primarymarket and it is anticipated that arrivals of foreign medical patients should accelerate if theproper programs are put in place by the government and the industry.Lastly, the study has determined that a Philippine Medical Tourism Roadmap is necessary to Reproduction of this document in any manner is strictly prohibited
  • 3. THE PHILIPPINE MEDICAL TOURISM COMPENDIUM 2011 (Facts, Figures & Strategies)install concrete policies and administrative foundations across broad-ranging areas to facilitatethe in-bound entry of medical tourists, to make medical tourism a preferred investment area,to install accreditation and certification quality systems and support protocols to enhance theacceptability of the Philippines as a medical tourism destination. Likewise, the medical tourismsystem across the value-chain should reconfigure its marketing approaches and serviceofferings accordingly to enable the country to achieve higher revenue targets and thus turn itinto the country’s next sunrise industry.There continues to be good reason to be optimistic about the Philippines’ chances—if it actssoon enough and it mobilizes the collective support of all stakeholders in government and theprivate sector towards a coherent effort to build the country into a preferred hub in the globalhealthcare market. TABLE OF CONTENTS Reproduction of this document in any manner is strictly prohibited
  • 4. THE PHILIPPINE MEDICAL TOURISM COMPENDIUM 2011 (Facts, Figures & Strategies)EXECUTIVE SUMMARY1 SCOPE OF THE STUDY AND RESEARCH METHODOLOGY2 MEDICAL AND WELLNESS TOURISM IN THE PHILIPPINES A Brief History B Medical Tourism Statistics C Economic and Social Benefits of Medical Tourism D Medical and Wellness Facilities in the Country: An Industry Profile E Supply and Quality of Philippine Medical Professionals3 THE GLOBAL MEDICAL AND WELLNESS TOURISM MARKET A Global Trends B Size and Growth of the Global Market C Demand-Side Analysis 1. Major Sources of Demand 2. Drivers and Inhibitors of Demand D Supply-Side Analysis: Top Destination Countries E Criteria for Selecting Destination Countries4 COMPETITIVE FACTORS IN THE MEDICAL TOURISM MARKET A Traditional Value Chain B The Role of Market Influencers C Competitive Differentiation and Positioning of the Different Destination Countries D A New Market Model Recognizing Market Segments and Categories E Process Flow for Supply and Demand F Drivers and Motivation of Demand G Competitive Strengths of the Philippines H Accreditation and Certification I Industry and Professional Associations J Philippine Medical Treatment Costs Relative to USA Costs Reproduction of this document in any manner is strictly prohibited
  • 5. THE PHILIPPINE MEDICAL TOURISM COMPENDIUM 2011 (Facts, Figures & Strategies) K Philippine Healthcare Market Profile L Regulatory Environment M Challenges in Philippine Healthcare N The Philippines’ Positioning O Market Projections 1. Tourist Arrivals 2. Estimation of Actual Market Demand 3. Actual Demand Trend for Health and Wellness Tourism 4. Potential Industry Demand 5. Sizing the Available Medical and Wellness Tourism Market 6. Estimating Future Demand5 RECOMMENDATIONS ANNEXESANNEX A Overview of Data Sampling MethodologyANNEX B Tabulated Data B.1. Inventory of Services Offered and Corresponding Prices Among Medical Tourism Program (MTP) Hospitals and Clinics B.2. Inventory of Services Offered and Corresponding Prices Among Medical Tourism Program (MTP) Hospitals and Clinics By Location (in Philippine Peso) B.3. Inventory of Services Offered and Corresponding Prices Among Medical Tourism Program (MTP) Hospitals and Clinics By Location (in US Dollars)ANNEX C Executive Order 372 (Creating a Public-Private Sector Task Force for the Development of Globally Competitive Philippine Service Industries)ANNEX D Philippine Medium-Term Development Plan 2004-2010ANNEX E Breakdown of Overseas Filipinos and OFWs by CountryANNEX F HMOs and PPO’sAccommodated by MTP Hospitals and Clinics Reproduction of this document in any manner is strictly prohibited
  • 6. THE PHILIPPINE MEDICAL TOURISM COMPENDIUM 2011 (Facts, Figures & Strategies)ANNEX G List of PhilHealth Centers of ExcellenceANNEX H List of International Accreditation Agencies for Healthcare Organizations in the PhilippinesANNEX I Department of Tourism Rules & Regulations for Accreditation of Tertiary Hospitals for Medical TourismANNEX J Department of Tourism Rules & Regulations for Accreditation of Ambulatory ClinicsANNEX K Department of Tourism Revised Rules & Regulations for Spa EstablishmentsANNEX L Department of Health Requirements for Application to be a Philippine Medical Tourism PartnerANNEX M Guidelines for the Registration of Medical Tourism Special Economic Zones (Medial Tourism Parks / Centers) and Medical Tourism Locator- EnterprisesANNEX N Guidelines for the Registration of Retirement Zones DIRECTORYA Profile & Directory of Hospitals Under Philippine Medical Tourism ProgramB Directory of Members of the Philippine Wellness and Spa Association Reproduction of this document in any manner is strictly prohibited