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ECONOMICS OF INDIAN ECONOMICS OF INDIAN MEDICAL TOURISM MEDICAL TOURISM
Maj Gen (Dr) M Srivastava,VSM** Maj Gen (Dr) M Srivastava,VSM** (Retd)(Retd)
Director ICRI HealthDirector ICRI Health
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“A multibillion dollar industry”
“India a International medical tourisms hub”
“One of the hottest sectors in India” (Public Health Foundation of India)
Joint Replacement Surgery
Dental Surgery
Heath Tourism is to provide World Class Health treatment at competitive affordable prices”.
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Concept of Medical Value Tourism
Is it a new concept ? - NoDates 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 tourismEconomics of tourism
Tourism third largest net earner of foreignTourism third largest net earner of foreign
exchange exchange India’s share in International Tourist arrival – India’s share in International Tourist arrival –
2002 - 0.34 percent 2002 - 0.34 percent
2005 - 0.49 percent – total 3.92 million2005 - 0.49 percent – total 3.92 million The World Travel Tourism Council - “India as The World Travel Tourism Council - “India as
one of the foremost growth centre in the world in one of the foremost growth centre in the world in coming yrs”. 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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Can we have similar Map for Medical Tourism for India ?
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India has world class corporate hospitals and India has world class corporate hospitals and excellent treatment Centres in the world.excellent treatment Centres in the world.
Hospital infrastructure & technology on par with Hospital infrastructure & technology on par with USA, UK & other European countriesUSA, UK & other European countries
No waiting periodNo waiting period Success rate – India -- 98.7% Success rate – India -- 98.7%
-- US – 97.5%-- US – 97.5% Immediate attention / treatment / surgeryImmediate attention / treatment / surgery Best Nursing Care with compassion Best Nursing Care with compassion Language no barrier – English speaking staff Language no barrier – English speaking staff
Low cost (1/10th), high quality, affordable best healthcare
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Apollo Hospital Hyderabad Max Hospital Delhi Fortis Hospital, Delhi
Jaslok Hospital, MumbaiBreach Candy Hospital Wokhardt Hospital
Bangalore
Growth of International Standard Hospitals
Macro EconomicsMacro Economics of of
Medical Tourism Medical Tourism
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Confederation of Indian Industry (C II) sponsored Mc Confederation of Indian Industry (C II) sponsored Mc Kinsey & Co. study.–“Healthcare in India : The Road Kinsey & Co. study.–“Healthcare in India : The Road Ahead” report:-Ahead” report:-
1.3 million medical tourists visit Asia / year1.3 million medical tourists visit Asia / year
Nos. of US patients seeking cheaper care Nos. of US patients seeking cheaper care
abroad - grew to 7,10,000 / yearabroad - grew to 7,10,000 / year
Over 1, 50000 medical tourists travelled to India in Over 1, 50000 medical tourists travelled to India in 2002 bringing in earnings of $ 300 million. 2002 bringing in earnings of $ 300 million.
2006-07 > 3,000002006-07 > 3,00000
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The size of Indian Medical Tourism sector estimated in 2002 The size of Indian Medical Tourism sector estimated in 2002 to be min 1,00000 to 1,50,000 foreign patients per year to be min 1,00000 to 1,50,000 foreign patients per year (Medical Tourists) .(Medical Tourists) .
The annual growth rate of Medical Tourism in India The annual growth rate of Medical Tourism in India 2000 – 15% per year2000 – 15% per year
2007 – 30% per year2007 – 30% per year
Kerala - > 8000 patients annually. Kerala - > 8000 patients annually. Cardiac, Ortho & Ayurveda treatmentCardiac, Ortho & Ayurveda treatment
- KIMS (2007) – 40,000 medical tourism patients - KIMS (2007) – 40,000 medical tourism patients
Hospital ‘A’ in Bangalore - reported 900 medical tourists per Hospital ‘A’ in Bangalore - reported 900 medical tourists per year.year.
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“ “India’s Tourist Industry could yield from $ 1.2 India’s Tourist Industry could yield from $ 1.2 billion presently to $ 2.2 billion annually by 2012 .billion presently to $ 2.2 billion annually by 2012 .
The growth rate of Medical Tourism Industry @ The growth rate of Medical Tourism Industry @ 12% in 2002 will go to @ 30% annually by 2012 .12% in 2002 will go to @ 30% annually by 2012 .
Up market private care in India to be worth from Up market private care in India to be worth from Rs.15000 crores to Rs. 30,000 crores by 2012Rs.15000 crores to Rs. 30,000 crores by 2012
Medical Tourism revenue can potentially rise Medical Tourism revenue can potentially rise from Rs. 5000 crores to Rs.10,000 crores per from Rs. 5000 crores to Rs.10,000 crores per year. year.
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$ 17 billion Indian Healthcare Industry contributes $ 17 billion Indian Healthcare Industry contributes about 4% -5% of GDP. It is expected to grow @ 13% about 4% -5% of GDP. It is expected to grow @ 13% annually in next 5 yrs.annually in next 5 yrs.
Health care spending in India will increase from Rs. Health care spending in India will increase from Rs. 86,000 crores in 2000-2001 to over Rs. 200,000 86,000 crores in 2000-2001 to over Rs. 200,000 crores by 2012.crores by 2012.
Private Health care share will form the largest of this Private Health care share will form the largest of this @ Rs.156,000 crores and growth will be driven by @ Rs.156,000 crores and growth will be driven by rising life style diseases.rising life style diseases.
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Travel tourism Travel tourism
++ pleasurepleasure, physical & , physical & mental relaxationmental relaxation
+ + value addition of medical value addition of medical
treatment at lowest cost treatment at lowest cost
Medical TourismMedical Tourism
Anatomy of Medical Value Travel – (Eonomic Potential)
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Advantage IndiaAdvantage IndiaUnique medical value services to foreign Unique medical value services to foreign
patients that supersedes the competition :patients that supersedes the competition :Yoga Meditation /SpiritualismMeditation /Spiritualism Ayurveda healingAyurveda healing
““India offers a unique basket of services to an India offers a unique basket of services to an individual that is difficult to match by other individual that is difficult to match by other countries” (CII)countries” (CII)
Less regulatory & legal problemsLess regulatory & legal problems
Economic Crisis, Credit Crisis & Recession in Economic Crisis, Credit Crisis & Recession in USA - Will it affect Medical Tourism market in USA - Will it affect Medical Tourism market in
India ? India ?
NoNo
There are almost 50 million Americans with There are almost 50 million Americans with no health insuranceno health insurance
Canada - > 700000 patients waiting for Canada - > 700000 patients waiting for procedures/surgery for > 6 months- 1yrprocedures/surgery for > 6 months- 1yr
It can have a very positive impact on tourism It can have a very positive impact on tourism industry in India for hospital & allied industry in India for hospital & allied healthcare industry who position themselves healthcare industry who position themselves in the right direction .in the right direction .
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Planning Commission ReportPlanning Commission Report - -
Govt will provide ‘M’ Visa to Medical Tourists on
priority. Most patients visit from SAARC + US &UKMost patients visit from SAARC + US &UK Lowest cost -Lowest cost -o Heart Bypass Surgery -Heart Bypass Surgery - IndiaIndia ThailandThailand Singapore US / UK Singapore US / UK $ 6000$ 6000 $ 7894 $ 23,983 $19,700 $ 7894 $ 23,983 $19,700
o Heart Valve Replacement SurgeryHeart Valve Replacement Surgery $ 8000$ 8000 $ 10,000 $ 12500 US $ 20000 $ 10,000 $ 12500 US $ 20000 UK & 90,000UK & 90,000
2020
Micro Economics Micro Economics - - Comparative Cost AnalysisMetal Free Dental BridgeMetal Free Dental Bridge India – USIndia – US $ 500 $ 500 $ 5500$ 5500
Bone Marrow TransplantBone Marrow Transplant IndiaIndia US US UKUK $ 30,000 $ 250,000- $40,000 $ 150,000$ 250,000- $40,000 $ 150,000
Cosmetic SurgeryCosmetic Surgery India ThailandIndia Thailand US Singapore US Singapore $ 2000 $ 35,00 $ 10,000$ 35,00 $ 10,000 - -
Spinal FusionSpinal Fusion $ 5500 $ 7000 $ 7000 $ 62,000 $ 62,000 $ 9000$ 9000
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Need of the hour :
INDIA NEEDS PROACTIVE GLOBAL MEDICAL
TOURISM MARKETING STRATEGIES
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Marketing strategies to maximize Marketing strategies to maximize economic potentialeconomic potential
Aggressive marketing & awareness programs Aggressive marketing & awareness programs globallyglobally
Publish details of Indian Corporate Hospitals with Publish details of Indian Corporate Hospitals with core competencies – eg Cardiac Surgery – J R core competencies – eg Cardiac Surgery – J R Surgery, IVF, Cosmetic Surgery, Dental SurgerySurgery, IVF, Cosmetic Surgery, Dental Surgery
Advertise - rates of all procedures in all Advertise - rates of all procedures in all International / International Magazines, journals, International / International Magazines, journals, magazines & News Papers of the World magazines & News Papers of the World
Web sites – List, details, Tele & E mail ID of Web sites – List, details, Tele & E mail ID of Hospitals & Executives dealing with medical Hospitals & Executives dealing with medical tourism tourism
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Medical Tourism Companies /Facilitator’s Medical Tourism Companies /Facilitator’s address, ISDN, E mails address, ISDN, E mails
Establishment of “Indian Medical Tourism Establishment of “Indian Medical Tourism Corporation” : Corporation” :
- International Branches- International Branches
- Liaison cell with all Indian & Foreign - Liaison cell with all Indian & Foreign Missions Missions
- Brochures giving details & pictures of- Brochures giving details & pictures of - Indian Corporate Hospitals, specialties, - Indian Corporate Hospitals, specialties,
Consultant’s detail, procedure rates , Consultant’s detail, procedure rates ,
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Special attractive treatment, travel & Special attractive treatment, travel & tourism packages at competitive rates 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
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Word of mouth business Word of mouth business to change to to change to
media driven business -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 Form Corporate Hospitals Medical Tourism Consortium Consortium with front offices in UK, USA, Canada, with front offices in UK, USA, Canada, Middle East, South East Asian countries - Middle East, South East Asian countries -
Medical Tourism Facility ManagersMedical Tourism Facility Managers - in Europe, - in Europe, Middle East, South East Asia - for networking with Middle East, South East Asia - for networking with foreign hospitals & Consultants for patient foreign hospitals & Consultants for patient reference – on profit sharing per patient basis.reference – on profit sharing per patient basis.
Form Medical Tourism Association (IndiaForm Medical Tourism Association (India)- for laying )- for laying down MT business ethics, rates, wellness tourism down MT business ethics, rates, wellness tourism policies, procedures etc.policies, procedures etc.
Medical Tourism Regulatory Body /Ethics Medical Tourism Regulatory Body /Ethics CommitteeCommittee
Special Insurance PackagesSpecial Insurance Packages
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Collect Collect Data base of Uninsured patients –USA, Data base of Uninsured patients –USA, UK, Canada & other countries – patient UK, Canada & other countries – patient segmentationsegmentation
Collect Data base of patients waiting in Canada, Collect Data base of patients waiting in Canada, UK, USA other European & third world countries UK, USA other European & third world countries
Motivate Indian/International Insurance Cos for Motivate Indian/International Insurance Cos for providing low cost Procedure Covers for overseas providing low cost Procedure Covers for overseas patients.patients.
Approach Govt – Tax benefits for Medical Tourism Approach Govt – Tax benefits for Medical Tourism sectorsector
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Training Needs -for exponential economic Training Needs -for exponential economic growth & sustainable Indian Medical Tourism growth & sustainable Indian Medical Tourism
Institutional Training – University coursesInstitutional Training – University courses
Structured courses – tailor made syllabusStructured courses – tailor made syllabus
Training in Tourism Marketing – Tourism Dept, Training in Tourism Marketing – Tourism Dept, Travelling industry, Hospitality & Hotel IndustryTravelling industry, Hospitality & Hotel Industry
Training modules in soft skills – MT staffTraining modules in soft skills – MT staff
Modular Short Training Courses for Specialists/ Modular Short Training Courses for Specialists/ Hospital Executives in Customer Care Hospital Executives in Customer Care Management - International PatientsManagement - International Patients
Training of Spa/Wellness Institution staffTraining of Spa/Wellness Institution staff
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AHMEDABAD BANGALORE DELHI HYDERABAD MUMBAI
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
UK, USA, Canada, Middle East, South East Asia Medical Tourists
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Thank You