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Medical tourism

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  • 1. ECONOMICS OF INDIAN MEDICAL TOURISM
  • 2. Heath Tourism is to provide World Class Health treatment at competitive affordable prices”. “One of the hottest sectors in India” (Public Health Foundation of India) “A multibillion dollar industry” “India a International medical tourisms hub” Dental SurgeryJoint Replacement Surgery 2
  • 3. Concept of Medical Value Tourism Is it a new concept ? - No Dates back > thousands of years. Greek pilgrims travelled in Saronic Gulf called Epidauria, sanctuary of the healing god Asclepius Yes. Marketing of Medical Value Tourism is relatively new concept. 3
  • 4. Economics of tourism Tourism third largest net earner of foreign exchange India’s share in International Tourist arrival – 2002 - 0.34 percent 2005 - 0.49 percent – total 3.92 million The World Travel Tourism Council - “India as one of the foremost growth centre in the world in coming yrs”. Travel & Tourism sector creates more jobs per million rupees of investment plan, than any other sector of the economy. 4
  • 5. Can we have similar Map for Medical Tourism for India ? 5
  • 6.  India has world class corporate hospitals and excellent treatment Centers in the world. Hospital infrastructure & technology on par with USA, UK & other European countries No waiting period Success rate – India -- 98.7% -- US – 97.5% Immediate attention / treatment / surgery Best Nursing Care with compassion Language no barrier – English speaking staff Low cost (1/10th), high quality, affordable best healthcare 6
  • 7. Growth of International Standard HospitalsApollo Hospital Hyderabad Max Hospital Delhi Fortis Hospital, Delhi Jaslok Hospital, Mumbai Breach Candy Hospital Wokhardt Hospital Bangalore 7
  • 8. Macro Economics of Medical Tourism 8
  • 9. Confederation of Indian Industry (C II) sponsored McKinsey & Co. study.–“Healthcare in India : The RoadAhead” 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 9
  • 10.  The size of Indian Medical Tourism sector estimated in 2002 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 - > 8000 patients annually. Cardiac, Ortho & Ayurveda treatment - KIMS (2007) – 40,000 medical tourism patients Hospital ‘A’ in Bangalore - reported 900 medical tourists per year. 10
  • 11.  “India’s Tourist Industry could yield from $ 1.2 billion presently to $ 2.2 billion annually by 2012 . The growth rate of Medical Tourism Industry @ 12% in 2002 will go to @ 30% annually by 2012 . Up market private care in India to be worth from Rs.15000 crores to Rs. 30,000 crores by 2012 Medical Tourism revenue can potentially rise from Rs. 5000 crores to Rs.10,000 crores per year. 11
  • 12.  $ 17 billion Indian Healthcare Industry contributes about 4% -5% of GDP. It is expected to grow @ 13% annually in next 5 yrs. Health care spending in India will increase from Rs. 86,000 crores in 2000-2001 to over Rs. 200,000 crores by 2012. Private Health care share will form the largest of this @ Rs.156,000 crores and growth will be driven by rising life style diseases. 12
  • 13. Anatomy of Medical Value Travel – (Eonomic Potential) Travel tourism + pleasure, physical & mental relaxation + value addition of medical treatment at lowest cost Medical Tourism 13
  • 14. Advantage India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) Less regulatory & legal problems 14
  • 15. Economic Crisis, Credit Crisis & Recession in USA - Will it affect Medical Tourism market in India ? No There are almost 50 million Americans with no health insurance Canada - > 700000 patients waiting for procedures/surgery for > 6 months- 1yr It can have a very positive impact on tourism industry in India for hospital & allied healthcare industry who position themselves in the right direction .
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  • 18. Planning Commission Report - Govt will provide ‘M’ Visa to Medical Tourists on priority. Most patients visit from SAARC + US &UK Lowest cost -o Heart Bypass Surgery - India Thailand Singapore US / UK $ 6000 $ 7894 $ 23,983 $19,700o Heart Valve Replacement Surgery $ 8000 $ 10,000 $ 12500 US $ 20000 UK & 90,000 19
  • 19. Micro Economics - Comparative Cost AnalysisMetal Free Dental Bridge India – US $ 500 $ 5500Bone Marrow TransplantIndia US UK$ 30,000 $ 250,000- $40,000 $ 150,000Cosmetic SurgeryIndia Thailand US Singapore$ 2000 $ 35,00 $ 10,000 -Spinal Fusion$ 5500 $ 7000 $ 62,000 $ 9000 20
  • 20. Need of the hour : INDIA NEEDS PROACTIVE GLOBAL MEDICAL TOURISM MARKETING STRATEGIES 21
  • 21. Marketing strategies to maximize economic potential Aggressive marketing & awareness programs globally Publish details of Indian Corporate Hospitals with core competencies – eg Cardiac Surgery – J R Surgery, IVF, Cosmetic Surgery, Dental Surgery Advertise - rates of all procedures in all International / International Magazines, journals, magazines & News Papers of the World Web sites – List, details, Tele & E mail ID of Hospitals & Executives dealing with medical tourism 22
  • 22.  Medical Tourism Companies /Facilitator’s address, ISDN, E mails Establishment of “Indian Medical Tourism Corporation” : - International Branches - Liaison cell with all Indian & Foreign Missions - Brochures giving details & pictures of - Indian Corporate Hospitals, specialties, Consultant’s detail, procedure rates , 23
  • 23.  Special attractive treatment, travel & tourism packages at competitive rates Package medical tourism through Travel & Tourism Cos. Health Insurance for treatment in India Regular Chartered Medical Tourism International Inbound Flights with all peripheral arrangements – in-flight medical care - Car/ ambulance transfer - Hotel – Hospital / Hotel – Wellness tourism-Return to home country– follow up 24
  • 24. Word of mouth business to change tomedia driven business -on line directory for -medical tourismNeed for India International MT Media Marketing international hospital cannot succeedwithout Internet – Branding IMT mustTransparency & no intra hospital competition -proper patient centered approachFacilitator –Promote hospital & partners on theirWeb sites.Regular updating of web site, content & rates 25
  • 25. Form Corporate Hospitals Medical TourismConsortium with front offices in UK, USA, Canada,Middle East, South East Asian countries -Medical Tourism Facility Managers - in Europe,Middle East, South East Asia - for networking withforeign hospitals & Consultants for patientreference – on profit sharing per patient basis.Form Medical Tourism Association (India)- for layingdown MT business ethics, rates, wellness tourismpolicies, procedures etc.Medical Tourism Regulatory Body /EthicsCommitteeSpecial Insurance Packages 26
  • 26. Collect Data base of Uninsured patients –USA,UK, Canada & other countries – patientsegmentationCollect Data base of patients waiting in Canada,UK, USA other European & third world countriesMotivate Indian/International Insurance Cos forproviding low cost Procedure Covers for overseaspatients.Approach Govt – Tax benefits for Medical Tourismsector 27
  • 27. Training Needs -for exponential economicgrowth & sustainable Indian Medical Tourism Institutional Training – University coursesStructured courses – tailor made syllabusTraining in Tourism Marketing – Tourism Dept,Travelling industry, Hospitality & Hotel IndustryTraining modules in soft skills – MT staffModular Short Training Courses for Specialists/Hospital Executives in Customer CareManagement - International PatientsTraining of Spa/Wellness Institution staff 28
  • 28. AHMEDABAD BANGALORE DELHI HYDERABAD MUMBAI MB A (Health Care Management) MBA (HCM)Two years full time PG regular course with optionto specialize in final year either in HospitalOperations Management (HOM) or MedicalTourism (MT) Degree will be awarded by University recognisedby UGC 29
  • 29. To IndiaUK, USA, Canada, Middle East, South East Asia MedicalTourists 30
  • 30. Thank You 31

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