ECONOMICS OF INDIAN MEDICAL TOURISM . Maj Gen (Dr) M Srivastava,VSM** ( Retd ) Director ICRI Health. Medical Tourism. Heath Tourism is to provide World Class Health treatment at competitive affordable prices”.
Maj Gen (Dr) M Srivastava,VSM** (Retd)
Director ICRI Health
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”
Joint Replacement Surgery
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.
Tourism third largest net earner of foreign
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.
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
Max Hospital Delhi
Fortis Hospital, Delhi
Apollo Hospital Hyderabad
Jaslok Hospital, Mumbai
Breach Candy Hospital
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
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.
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.
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.
pleasure, physical & mental relaxation
value addition of medical treatment at lowest cost
Anatomy of Medical Value Travel – (Eonomic Potential)
“India offers a unique basket of services to an individual that is difficult to match by other countries” (CII)
Govt will provide ‘M’ Visa to Medical Tourists on priority.
Most patients visit from SAARC + US &UK
Lowest cost -
Heart Bypass Surgery -
IndiaThailand Singapore US / UK
$ 6000 $ 7894 $ 23,983 $19,700
Heart Valve Replacement Surgery
$ 8000 $ 10,000 $ 12500 US $ 20000
UK & 90,000
Metal Free Dental Bridge
India – US
$ 500 $ 5500
Bone Marrow Transplant
$ 30,000$ 250,000- $40,000 $ 150,000
India Thailand US Singapore
$ 2000$ 35,00 $ 10,000-
$ 5500 $ 7000 $ 62,000$ 9000
INDIA NEEDS PROACTIVE GLOBAL MEDICAL TOURISM MARKETING STRATEGIES
- International Branches
- Liaison cell with all Indian & Foreign Missions
- Brochures giving details & pictures of - Indian Corporate Hospitals, specialties, Consultant’s detail, procedure rates ,
media driven business -on line directory for medical tourism
Need for India International MT Media
Marketing international hospital cannot succeed without Internet – Branding IMT must
Transparency & no intra hospital competition - proper patient centered approach
Facilitator –Promote hospital & partners on their Web sites.
Regular updating of web site, content & rates
Medical Tourism Facility Managers - in Europe, Middle East, South East Asia - for networking with foreign hospitals & Consultants for patient reference – on profit sharing per patient basis.
Form Medical Tourism Association (India)- for laying down MT business ethics, rates, wellness tourism policies, procedures etc.
Medical Tourism Regulatory Body /Ethics Committee
Special Insurance Packages
Collect Data base of patients waiting in Canada, UK, USA other European & third world countries
Motivate Indian/International Insurance Cos for providing low cost Procedure Covers for overseas patients.
Approach Govt – Tax benefits for Medical Tourism sector
MB A (Health Care Management)
Two years full time PG regular course with option to specialize in final year either in Hospital Operations Management (HOM) or Medical Tourism (MT)
Degree will be awarded by University recognised by UGC
UK, USA, Canada, Middle East, South East Asia Medical Tourists