Start a Medical wellness tourism, health tourism Business

(109) Start a Medical wellness tourism, health tourism Business

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India has one of the best qualified professionals in each and every field, and this fact has now been realized the world over. Regarding Medical Facilities India has the most competent doctors and world class Medical Facilities. With most competitive charges for treatment, India is a very lucrative destination for people wanting to undergo treatment of certain medical problems who do not need immediate emergency treatment.

India offers World Class Medical Facilities, comparable with any of the western countries. India has state of the art Hospitals and the best qualified doctors. With the best infrastructure, the best possible Medical facilities, accompanied with the most competitive prices, you can get the treatment done in India at the lowest charges. A patient will come to India where he will undergo medical treatment and along with that he can visit any Indian tourist destinations, as and when advised by the Doctors. The whole thing would save him a lot of money and he will get to discover India at the same time. We assure that Dheeraj Bojwani will provide the best medical and travel facilities for you in India. What makes India all the more tempting is the availability of Ayurveda, Naturopathy in its most authentic form which are an excellent choice for chronic illnesses and rejuvenation.

Get your medical treatment done in India at a fraction of the cost at which it is done abroad - in Europe or America. Besides providing you medical treatment, you can also see different tourist destinations in India. The complete package will cost you less that what you would have to pay for the medical charges alone, in other European, Middle East or American countries.

The Indian Tertiary Healthcare Industry is keeping pace with this trend and has modernized to global standards. With cutting edge technology in the health care sector at its disposal, India now has the wherewithal to offer comprehensive medical solutions to the world and is poised to become the preferred global healthcare destination.

India has one of the best qualified professionals in each and every field, and this fact has now been realized the world over. Regarding Medical Facilities India has the most competent doctors and world class Medical Facilities. With most competitive charges for treatment, India is a very lucrative destination for people wanting to undergo treatment of certain medical problems who do not need immediate emergency treatment.

We have taken upon ourselves the task of sharing the responsibility of easing the world wide health care backlog that exists in the healthcare systems of many western countries whilst providing access to world-class tertiary healthcare to countries that do not possess the facilities indigenously by making available the Indian tertiary healthcare expertise.

India offers World Class Medical Facilities, comparable with any of the western countries. India has state of the art Hospitals and the best qualified doctors. With the best infrastructure, the best possible Medical facilities, accompanied with the most competitive prices, you can get the treatment done in India at the lowest charges. What makes India more desiring as compared to other countries is the availability of the traditional medical science of Ayurveda, Naturopathy found in its purest form. The beneficiaries can opt for the modern as well as the holistic treatment options available to them. These are an excellent remedy for chronic illnesses.A patient will come to India where he will undergo medical treatment and along with that we will show him the Indian tourist destinations, as and when advised by the Doctors. The patient can opt for Ayurvedic, Naturopathy treatment or select a Rejuvenation Center of his choice The whole thing would save him a lot of money and he will get to discover India at the same time. We assure that we provide the best medical and travel facilities during for you in India.

India has the highest potential in medical tourism in the world," says Maheshwari of RNCOS. "Factors such as low cost, scale and range of treatments differentiate it from other medical tourism destinations. Moreover, growth in India’s medical tourism market will be a boon for several associated industries, including the hospital industry, the medical equipment industry, and the pharmaceutical industry."His study shows that CAGR (compound annual growth rates) in revenue in 2011-13 will be 26%. In terms of medical tourists, the number would touch 1.3 million by 2013 at a CAGR of 19%. "Medical tourism can be considered one of the rapidly growing industries in the Indian economy on the back of various factors," he says. "However, the industry is at a nascent stage and requires a few years to reach the platform already established by the IT sector." "India has been ranked among the top five destinations for medical tourism," says Rana Kapoor, founder, managing director and CEO of Yes Bank, which has recently done a study on health and wellness tourism in India along with apex chamber of commerce FICCI. The ranking by Nuwire Investors, an online source for news on alternative investments, puts Panama on top, followed by Brazil, Malaysia and Costa Rica."India is looking at exponential growth as far as tourism is concerned,"continues Kapoor. "Yes Bank forecasts that there will be an increase in domestic tourist movements over the period (2008-2020) by 118% and foreign tourist inflows over the same period will increase by 71.87%. What the potential for medical tourism from within this growth rate of 71.87% will be depends upon government policies, faith of the patients and many other external factors. We truly believe that this sector will play a significant role as a contributor towards the overall tourism growth in India."
"I strongly believe that many developments across the world will put India in a fantastic position," says Devi Shetty, cardiac surgeon and chairman of Narayana Hrudayalaya. "We produce the largest number of doctors, nurses and medical technicians in the world. Also, we have been traditionally linked with western health care because of the British influence on our medical education and the ability to speak English. This is extremely important for developing [global] health care. Our greatest asset is our ability to produce the largest number of technically-skilled individuals. We also have the largest number of USFDA (U.S. Food and Drugs Administration)-approved drug manufacturing units outside the U.S."Over the past few years, the medical tourism story has changed dramatically in India," says a recent Cover Story in weekly business magazineBusinessWorld. (That it made it to the Cover is a reflection of the growing importance of the sector.) "Not because the government has figured out the solution. But purely because of private enterprise -- with a few corporate hospitals, chemists and freelance agents all working in tandem to build a thriving ecosystem that educates, facilitates and ferries medical tourists from across the world. Last year, this ecosystem was responsible for about 600,000 patients travelling to India and spending US$1 billion in getting treated here. (The numbers are industry estimates as the government does not have any official statistics on the subject.) Corporate hospitals such as Apollo, Fortis Hospital and Max as well as business associations estimate that the business is growing by 40% year-on-year." (Obviously, the growth numbers vary depending on who you talk to.)
Other Markets Will Turn to India
"India’s potential is huge," says Mehta of PwC. "Some 80% of foreign patients coming to India are from the neighboring countries and from Iraq, Afghanistan, the former Soviet Union, etc and now increasingly from Africa. But now with India proving itself as a credible provider of value health care, the western population ageing, and health care becoming more difficult there, I expect more people to come from the U.S. and the U.K."
Mehta says that some things went wrong with the earlier planning. "We expected most patients to come from the U.S. and Europe. We expected people to come for cosmetic and regenerative treatment and this is where there is more potential for tourism. But the majority actually came for cardiac treatment, cancer treatment, knee replacement and other serious ailments. Therefore, tourism was not really of importance. We did not get the cost factor right. We thought that typically in India it costs one-tenth of that in the U.S., so we could cost at 5X. But hospitals have not been able to charge very much. At present, with a foreign patient, there is around 20% more earning."
Cost is, of course, being underplayed in the marketing efforts; this is why the word "cheap" rankles. "The patient is usually acutely aware of the difference in the sticker price for care," says Aron. "There is no reason to draw attention to this.”That’s an area where India enjoys an advantage over other countries too. According to the BusinessWorld report, a heart bypass surgery costs US$144,000 in the U.S., US$25,000 in Costa Rice, US$24,000 in Thailand, US$20,000 in Mexico, US$13,500 in Singapore, and US$8,500 in India. "The quality is excellent," says Maheshwari. In India, there is also less waiting time and personalized services.
Becoming an Industry
Medical tourism is also taking shape as an industry, though there are some who feel that it will eventually fall in many buckets. (The recent FICCI-Yes Bank study talks of wellness tourism, health tourism...) "There are over 3,371 hospitals and around 750,000 registered medical practitioners," says Maheshwari.
Shetty says it is easier to get loans these days. "Earlier, it was difficult for us to mobilize huge financial support to create large hospitals. However, things have changed now," he explains. Indian companies are also taking over hospital chains in Asia -- Fortis has gone on a shopping spree, though it’s not been entirely successful -- and setting up front-ends in other countries for marketing purposes. Apollo has facilitation centers in Oman, Nigeria and the U.S. Max is present in Nigeria, Afghanistan, Bangladesh and Nepal. Says Reddy of Apollo: "There are several key players. Apollo Hospitals continues to attract the largest numbers of international patients followed by Max, Fortis and Workhardt."
"Another opportunity that Indian operators are now seeing is that you don’t have to offer these health care services from India," says Abraham of ISB. "For instance you can offer it from say, Cayman Islands or the Bahamas. Ultimately, the innovation is in the process and as long as you can bring the same process innovation, even if the cost goes up a little as compared to offering it from India, it will still be a substantial saving for the patient."
This is one area where China is no threat. Foreigners in China still rush to Hong Kong when they need treatment because they cannot communicate with local doctors.
But what the budding sector will have to contend with is the Indian government. Take one example. With the intention of making things smoother, the government introduced a medical visa (M visa), which was faster and easier to get. In its wisdom, however, it added a peculiar clause -- "Foreigners coming on M visa will be required to get themselves registered mandatorily well within the period of 14 days of arrival with the concerned Foreigners Regional Registration Office." The end result: even patients who have to be carried into India on stretchers are coming on tourist visas. If the government wants medical tourism to be the next big thing, it has to put its house in order.
As for the immediate controversies, Shetty is very clear. "President Obama’s statement or the New Delhi superbug will not affect medical tourism development in India," he says. "First of all, he was not criticizing India. He was just trying to put his house in order."