MEDICAL TOURISM
Dr. Sanjiv Malik, Chief Executive
Max Health Care
Medical Travel
•
People traveling across borders for healthcare needs
•
Only ambulatory care can be really linked to tourism.
•
Tourism is recreation linked . Is health recreation linked ??
•
Serious ailments e.g Heart Surgery , Joint replacements etc
which can be treated in Indian Hospitals without any
waiting can not be linked with Tourism
Concept of Medical Tourism /
Treatment for Foreign Patients
Historical Perspective
Neolithic & Bronze Age
Mineral & Hot Spring visits
Middle Ages
Thermal Springs
16th century
“Fountain of Youth”
17th/18th century
Spa
19th century
Sea & Mountain Air (TB sanitarium)
20th century
“Health Farms” or “Fat Farms”
Healthcare Business
Facts & Figures
•
Worlds largest after retailing
•
Global healthcare revenue US$ 2.8 trillion
•
India’s healthcare industry worth US$ 17 billion; to grow
by 13%
•
per annum for next 6 years
In 2004,India treated 1.8 Lac patients.This is to grow
substantially at the rate 25-30% in 2005
Contd..
Healthcare Business
Facts & Figures
•
Medical tourism could account for 3-5% of the total
healthcare delivery market.
•
India is rated amongst the world’s “must see top ten
destination” by Conde Naste (international magazine)
•
A study by CII Mckinsey estimates that country could earn
5000-10,000 crore by 2012
•
Health procedures across world show 200-800% cost
difference
Issues for Treatment in
Different Countries
SAARC , AFRICAS, MIDDLE EAST
• No advance care available e.g Afghanistan , Nepal and
Bangladesh etc
• Limited specialized care
WEST
• Long waiting - UK
• Insurance unaffordable leading to semi insured and
uninsured population - US
• Private hospitals very expensive
Advantage India
(Core Competencies)
“First World Treatment at Third World Costs”
Quality
Large pool of doctors, nurses & paramedics
Strength:
- Over 650,000 doctors;
- Highly skilled experts, and
- Possess English speaking skills
Comfort Level
•NRI doctors recognized as amongst best in adopted countries
(First World)
•Usage of English
•Indian Nurses increasingly getting international exposure
Contd..
Advantage India
(Core Competencies)
“First World Treatment at Third World Costs”
Value Proposition
Quality medical services at 1/10th costs:
•Complicated surgical procedures possible at 1/10th the cost
•Increase in use of Computerized Hospital Information
Systems
•Software technologists facilitating tech revolution in
healthcare
•State-of-the-art medical establishments of great repute
Contd
Comparative Analysis in USD
Procedure
US
UK
Burmungrad
Bangkok
Max
Healthcare
Raffles
Singapore
Angioplasty
30000
2100027000
4000 - 5000
4000 - 5000
5000
Angiography
2500 3000
2000
1100
400
800
Hip replacement
19000
1300016000
6000
6600
Knee replacement
2700032000
1600018000
6000
6000
CABG
30000
6400
9600
Lasik
22502900
750
400
(Note: all costs in us$)
Advantage India
(Core Competencies)
“First World Treatment at Third World Costs”
Lower Medication cost:
•Strong Pharma Sector and gaining world recognition
• Fast emerging as major Drug R&D Center
• Strong Generic drugs business
•Low cost of drug development in India
•No waiting
Tourist Interest:
• 5000 year old civilization
• Renowned for Historical, Cultural and Religious diversity
• Diverse geographical landmarks; vast coastline
• Traditional arts and crafts
• Vibrant democracy: Freedom for citizens; empowered women population
Contd..
Advantage India
(Core Competencies)
“First World Treatment at Third World Costs”
Alternative Medicine Proposition:
•Ancient Ayurvedic stream of medicines
• Rejuvenation alternatives: Kerala’s health retreats
• Naturopathy and Yoga
Changing Consumer Patterns
•
Increased visibility & ease of access to leading hospitals,
doctors and surgeons who post their skills & specialties,
pricing etc on websites has made available a wide choice of
treatment to the overseas patients
•
Media is showcasing India’s ability to treat overseas
patients in a comparable environment
Insurance
• India proactively talking to Foreign Insurance
companies to treat their beneficiaries in India
• Cashless benefits
• Hassle Free
CONCERNS
Consumer’s Point of View
Negative Perceptions
Hygiene/Unsanitary
Medical Insurance
Instability
Pollution
Inadequate Cover
Terrorism Prone
Backward &
Bureaucratic
Underdeveloped
Communal Unrest
Insurance Frauds
Connectivity
Accreditation
No Global Players
No Uniformity
No Flights!!
Overseas Companies
Refuse
Reimbursements
ISO, CRISIL, ICRA
WEST: JCAHO
Bad Roads
Backward
Industry Issues
 Standardized education in Medical Institutions
Doctors  Strong regulatory mechanism to curb quacks
 No communication and inter-personal skills teaching
Nurses &
Paramedical
 Deficient Language skills
 Lack of Standardization
 Attrition
 Hygiene awareness in medical attendants
 Unhygienic Food handling
Service
Heterogeneous Pricing of services
PATH FORWARD
(Strategy Imperative)
APEX BODY
POTENTIAL
+
IMPROVEMENTS
SUCCESS
GOVERNMENT & INDUSTRY HAND-HOLDING:
A MUST
PATH FORWARD
(Potential + Improvements)
POTENTIAL
Doctors & Paramedics
Expertise Recognized
Cost Advantage
Language Skills
Vibrant Industries
FUTURE FOCUS
Uniform Medical Education Standards
Industry Accreditation Standards
Mandatory Accreditation of all Colleges &
Hospitals
Target-oriented Infrastructure Investment
More Medical, Nursing colleges and Hospitals
Regulatory Bodies with Teeth
IT Strength
Management Skills
Pharmaceutical Industry
Tourism Potential
Service Industry Mindset
Government soft loan to Private Players
Tax Holiday & Further Duty Roll Back
Apex Industry body under Union List
Greater Industry & Govt. Interaction
Medical Insurance Reforms
Seamless Single-Window Facility to Tourists
Govt. sell India as Medical Tourism Destination
PATH FORWARD
(For Success)
SPIN-OFF
REALIZED POTENTIAL
GDP Growth
INDIA
EMERGES
AS MAJOR
MEDICAL
TOURISM
DESTINATION
Employment in Healthcare Sector
Employment in Tourism Industry
Overall Growth in Commerce
Reversal & Arrest of Brain Drain
Stimulus to Pharmaceuticals Industry
Growth in Insurance Industry
Better medical facilities for larger population
Catalyzes India to the Club of Global Leaders
Summary
Opportunity India
Opportunity Max & Others
Need to Tap
Thank You