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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”.

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ECONOMICS OF INDIAN MEDICAL TOURISM

Maj Gen (Dr) M Srivastava,VSM** (Retd)

Director ICRI Health


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Medical Tourism

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 Surgery

Joint Replacement Surgery


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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.


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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.



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India has world class corporate hospitals and excellent treatment Centres 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


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Growth of International Standard Hospitals treatment

Max Hospital Delhi

Fortis Hospital, Delhi

Apollo Hospital Hyderabad

Jaslok Hospital, Mumbai

Wokhardt Hospital

Bangalore

Breach Candy Hospital


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Macro Economics treatment of Medical Tourism


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Confederation of Indian Industry (C II) sponsored Mc Kinsey & Co. study.–“Healthcare in India : The Road Ahead” 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


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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.


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to be min 1,00000 to 1,50,000 foreign patients per year (Medical Tourists) .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.


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$ 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.


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Travel tourism -5% of GDP. It is expected to grow @ 13% annually in next 5 yrs.

+

pleasure, physical & mental relaxation

+

value addition of medical treatment at lowest cost

Medical Tourism

Anatomy of Medical Value Travel – (Eonomic Potential)


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Advantage India -5% of GDP. It is expected to grow @ 13% annually in next 5 yrs.

  • 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


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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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Planning Commission Report affect Medical Tourism market in India ? -

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


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Micro Economics affect Medical Tourism market in India ? - Comparative Cost Analysis

Metal Free Dental Bridge

India – US

$ 500 $ 5500

Bone Marrow Transplant

India USUK

$ 30,000$ 250,000- $40,000 $ 150,000

Cosmetic Surgery

India Thailand US Singapore

$ 2000$ 35,00 $ 10,000-

Spinal Fusion

$ 5500 $ 7000 $ 62,000$ 9000


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Need of the hour affect Medical Tourism market in India ? :

INDIA NEEDS PROACTIVE GLOBAL MEDICAL TOURISM MARKETING STRATEGIES


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Marketing strategies to maximize economic potential affect Medical Tourism market in India ?

  • 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


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  • 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 ,


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  • Package medical tourism through Travel & mails

  • 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

  • Special attractive treatment, travel & tourism packages at competitive rates


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Word of mouth business to change to mails

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


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Form Corporate Hospitals Medical Tourism Consortium mails 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 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


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Collect mails Data base of Uninsured patients –USA, UK, Canada & other countries – patient segmentation

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


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Training Needs -for exponential economic growth & sustainable Indian Medical Tourism

  • Institutional Training – University courses

  • Structured courses – tailor made syllabus

  • Training in Tourism Marketing – Tourism Dept, Travelling industry, Hospitality & Hotel Industry

  • Training modules in soft skills – MT staff

  • Modular Short Training Courses for Specialists/ Hospital Executives in Customer Care Management - International Patients

  • Training of Spa/Wellness Institution staff


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DELHI sustainable Indian Medical Tourism

MUMBAI

AHMEDABAD

BANGALORE

HYDERABAD

MB A (Health Care Management)

MBA (HCM)

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


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To India sustainable Indian Medical Tourism

UK, USA, Canada, Middle East, South East Asia Medical Tourists


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Thank You sustainable Indian Medical Tourism