Medical Tourism
Market analysis
Macro
* 25% increase in market every year * Product Life Cycle Stage: Nascent * 150,000 US citizens seeked medical care outside their country * Customer Profile * NRI * Patients from developed as well as under developed nations * No of usage occasions: Numerous * Role of Government * The role of Indian Government for success in medical tourism is two-fold: * Acting as a Regulator to institute a uniform grading and accreditation system for hospitals to build consumers’ trust. * Acting as a Facilitator for encouraging private investment in medical infrastructure and policymaking for improving medical tourism. * For facilitating investment the policy recommendations include: * Recognize healthcare as an infrastructure sector, and extend the benefits
Micro
* Strong presence in advanced health care. Eg. Cardiovascular, Organ transplants-high success rate in operations. * Low cost * US Rs. 250,000 for one operation as compared to Rs. 80,000 in India * Similarly in UK a knee surgery costs $ 16,950 as compared to $ 7,700 * Dental, eye and cosmetic surgeries cost 3-4 times as much as India * Features & benefits * Help with procuring a medical visa; * Booking travel to the country where the services will be provided; * Airport pick up and drop off; * Consultation with appropriate specialists; * Pre-operation accommodation; * Booking into the hospital for the operation; * Accommodation for post-operative recuperation; * Arrangements for post-operative care in the foreign country; * Book travel home from the country where the services have been provided; * Arranging emergency insurance coverage for any unexpected serious adverse events arising from the surgery that means prolonged hospitalization and/or a medical flight back to the U.S.;
Industry Analysis
Swot Analysis
Strengths
Quality and Range of Services.
India has number of
Macro
* 25% increase in market every year * Product Life Cycle Stage: Nascent * 150,000 US citizens seeked medical care outside their country * Customer Profile * NRI * Patients from developed as well as under developed nations * No of usage occasions: Numerous * Role of Government * The role of Indian Government for success in medical tourism is two-fold: * Acting as a Regulator to institute a uniform grading and accreditation system for hospitals to build consumers’ trust. * Acting as a Facilitator for encouraging private investment in medical infrastructure and policymaking for improving medical tourism. * For facilitating investment the policy recommendations include: * Recognize healthcare as an infrastructure sector, and extend the benefits
Micro
* Strong presence in advanced health care. Eg. Cardiovascular, Organ transplants-high success rate in operations. * Low cost * US Rs. 250,000 for one operation as compared to Rs. 80,000 in India * Similarly in UK a knee surgery costs $ 16,950 as compared to $ 7,700 * Dental, eye and cosmetic surgeries cost 3-4 times as much as India * Features & benefits * Help with procuring a medical visa; * Booking travel to the country where the services will be provided; * Airport pick up and drop off; * Consultation with appropriate specialists; * Pre-operation accommodation; * Booking into the hospital for the operation; * Accommodation for post-operative recuperation; * Arrangements for post-operative care in the foreign country; * Book travel home from the country where the services have been provided; * Arranging emergency insurance coverage for any unexpected serious adverse events arising from the surgery that means prolonged hospitalization and/or a medical flight back to the U.S.;
Industry Analysis
Swot Analysis
Strengths
Quality and Range of Services.
India has number of