GLOBAL MINDSET  &  MEDICAL TOURISM Daniel Bleckmann Ray Costantini Jessil Joseph Timothy Mark Jose-Luis Mejia Tania Van Ra...
MEDICAL TOURISM industry overview <ul><li>Immature, fragmented industry </li></ul><ul><li>8 million elective surgeries adm...
MEDICAL TOURISM industry overview <ul><li>Customer Segments:  </li></ul><ul><ul><li>Privacy </li></ul></ul><ul><ul><li>Des...
MEDICAL TOURISM industry overview <ul><li>Geographic Overview:  </li></ul><ul><ul><li>Regions </li></ul></ul><ul><ul><ul><...
MEDICAL TOURISM industry overview * The Mckinsey Quarterly – May 2008, www.mckinseyquarterly.com
MEDICAL TOURISM industry overview <ul><li>Elective and semi-elective procedures:  </li></ul><ul><li>Dental </li></ul><ul><...
MEDICAL TOURISM industry overview Cost Comparison * Business Week - http://images.businessweek.com/ss/08/03/0317_hospitals...
MEDICAL TOURISM industry overview <ul><li>Industry Players </li></ul><ul><ul><li>Hospitals/Doctors </li></ul></ul><ul><ul>...
MEDICAL TOURISM industry overview <ul><li>Facilitators </li></ul><ul><li>Vet and Organize information </li></ul><ul><ul><u...
MEDICAL TOURISM industry overview <ul><li>Facilitator Obstacles </li></ul><ul><li>Accreditation/Credentialing </li></ul><u...
<ul><li>“ where smart medicine and exotic travel come together” </li></ul><ul><li>MedRetreat Overview </li></ul><ul><li>Fa...
<ul><li>MedRetreat Facts: </li></ul><ul><li>Established in 2003 to provide affordable and timely healthcare </li></ul><ul>...
72% average year over year growth “ There’s been a shift…elite customers in developing customers are no longer travelling ...
<ul><li>Business Model: </li></ul><ul><li>20% fee from the customer </li></ul><ul><li>20% negotiated discount with medical...
MEDICAL TOURISM <ul><li>Current Situation: </li></ul><ul><li>Successful – high growth </li></ul><ul><li>Activated customer...
MEDICAL TOURISM <ul><li>Questions </li></ul><ul><li>How can global mindset affect MedRetreat? </li></ul><ul><li>What are t...
* Medical Tourist Magazine, Issue 9, Guide to International Medicine
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MedRetreat and Healthcare Tourism

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A case study of Med Retreat, including an overview of the Medical Tourism industry in which the company operates

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MedRetreat and Healthcare Tourism

  1. 1. GLOBAL MINDSET & MEDICAL TOURISM Daniel Bleckmann Ray Costantini Jessil Joseph Timothy Mark Jose-Luis Mejia Tania Van Ranst-Yamauchi
  2. 2. MEDICAL TOURISM industry overview <ul><li>Immature, fragmented industry </li></ul><ul><li>8 million elective surgeries admitted in US </li></ul><ul><li>Broad range of estimated market size </li></ul><ul><ul><li>60,000-85,000 patients (McKinsey) </li></ul></ul><ul><ul><li>750,000 patients (Deloitte) </li></ul></ul><ul><li>Revenues of $79.5 Billion in 2017 </li></ul>* The Mckinsey Quarterly – May 2008, www.mckinseyquarterly.com ** Deloitte Report http://www.medicaltourismassociation.com/press.html
  3. 3. MEDICAL TOURISM industry overview <ul><li>Customer Segments: </li></ul><ul><ul><li>Privacy </li></ul></ul><ul><ul><li>Destination driven </li></ul></ul><ul><ul><li>High tech </li></ul></ul><ul><ul><li>Cost-driven: </li></ul></ul><ul><ul><ul><li>Uninsured </li></ul></ul></ul><ul><ul><ul><li>Under-insured </li></ul></ul></ul><ul><ul><ul><li>Insured under-served </li></ul></ul></ul>*Bookman, Milica Zarkovic . Medical Tourism in Developing Countrie s. Gordonsville, VA, USA: Palgrave Macmillan, 2007.
  4. 4. MEDICAL TOURISM industry overview <ul><li>Geographic Overview: </li></ul><ul><ul><li>Regions </li></ul></ul><ul><ul><ul><li>Latin America </li></ul></ul></ul><ul><ul><ul><li>Asia </li></ul></ul></ul><ul><ul><li>Top Locations </li></ul></ul><ul><ul><ul><li>Costa Rica </li></ul></ul></ul><ul><ul><ul><li>India </li></ul></ul></ul><ul><ul><ul><li>Puerto Rico </li></ul></ul></ul><ul><ul><ul><li>Malaysia </li></ul></ul></ul><ul><ul><ul><li>Thailand </li></ul></ul></ul>* http://www.nuwireinvestor.com/articles/top-5-medical-tourism-destinations-51502.aspx
  5. 5. MEDICAL TOURISM industry overview * The Mckinsey Quarterly – May 2008, www.mckinseyquarterly.com
  6. 6. MEDICAL TOURISM industry overview <ul><li>Elective and semi-elective procedures: </li></ul><ul><li>Dental </li></ul><ul><li>Cosmetic </li></ul><ul><li>Fertility </li></ul><ul><li>Heart </li></ul><ul><li>Cancer </li></ul><ul><li>Orthopedics (eg. Joint Replacement) </li></ul><ul><li>Bariatric/PAC (Weight loss) </li></ul>
  7. 7. MEDICAL TOURISM industry overview Cost Comparison * Business Week - http://images.businessweek.com/ss/08/03/0317_hospitals/index_01.htm?chan=globalbiz_special+report+--+asia+medical+tourism Operations US Asia (Singapore, India, Thailand) Knee Replacement $43,000 $12,500 (29%) Heart Valve Replacement $160,000 $12,500 (8%) Angioplasty $57,000 $13,000 (23%)
  8. 8. MEDICAL TOURISM industry overview <ul><li>Industry Players </li></ul><ul><ul><li>Hospitals/Doctors </li></ul></ul><ul><ul><ul><li>International & Domestic </li></ul></ul></ul><ul><ul><li>Travel Industry </li></ul></ul><ul><ul><li>Health Insurance Industry </li></ul></ul><ul><ul><li>Accreditation: Joint Commission International </li></ul></ul><ul><ul><li>Associations: Medical Tourism Association </li></ul></ul><ul><ul><li>Facilitators </li></ul></ul>
  9. 9. MEDICAL TOURISM industry overview <ul><li>Facilitators </li></ul><ul><li>Vet and Organize information </li></ul><ul><ul><ul><li>Country Conditions </li></ul></ul></ul><ul><ul><ul><li>Provider Quality </li></ul></ul></ul><ul><li>Relationship Building </li></ul><ul><ul><ul><li>Matching patients with medical facilities </li></ul></ul></ul><ul><ul><ul><li>Linking patients to travel services </li></ul></ul></ul><ul><li>Negotiating Costs </li></ul>
  10. 10. MEDICAL TOURISM industry overview <ul><li>Facilitator Obstacles </li></ul><ul><li>Accreditation/Credentialing </li></ul><ul><ul><li>Quality </li></ul></ul><ul><ul><li>Safety </li></ul></ul><ul><ul><li>Uniformity </li></ul></ul><ul><li>Insurance </li></ul><ul><li>Legal Recourse of Patients </li></ul><ul><li>Travel/Entry Requirements </li></ul><ul><li>Continuity of Care </li></ul>*Bookman, Milica Zarkovic . Medical Tourism in Developing Countrie s. Gordonsville, VA, USA: Palgrave Macmillan, 2007.
  11. 11. <ul><li>“ where smart medicine and exotic travel come together” </li></ul><ul><li>MedRetreat Overview </li></ul><ul><li>Facilitate medical care and travel abroad </li></ul><ul><li>Evaluate the hospitals </li></ul><ul><li>Comprehensive quality care from door to door </li></ul>
  12. 12. <ul><li>MedRetreat Facts: </li></ul><ul><li>Established in 2003 to provide affordable and timely healthcare </li></ul><ul><li>First one and a half years developing relationships with global providers </li></ul><ul><li>13 Destinations in 9 countries </li></ul><ul><li>Limited marketing to date </li></ul><ul><li>Employee profile </li></ul>
  13. 13. 72% average year over year growth “ There’s been a shift…elite customers in developing customers are no longer travelling to the US for medical care since quality care is available locally” Judson Anglin - Founder & CEO of MedRetreat
  14. 14. <ul><li>Business Model: </li></ul><ul><li>20% fee from the customer </li></ul><ul><li>20% negotiated discount with medical facilities </li></ul><ul><li>High discount from first mover advantage </li></ul><ul><li>Additional revenue streams from travel providers </li></ul>
  15. 15. MEDICAL TOURISM <ul><li>Current Situation: </li></ul><ul><li>Successful – high growth </li></ul><ul><li>Activated customers </li></ul><ul><li>Strong links with global providers </li></ul><ul><li>“ Global mindset hasn’t been critical” Judson Anglin - CEO </li></ul>
  16. 16. MEDICAL TOURISM <ul><li>Questions </li></ul><ul><li>How can global mindset affect MedRetreat? </li></ul><ul><li>What are the global supply chain implications for MedRetreat? </li></ul>
  17. 17. * Medical Tourist Magazine, Issue 9, Guide to International Medicine

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