Today’s medical tourists diverge from the historical pattern of health tourism in 3 prominent ways: the prior and concern reason amongst them is like, they tend to travel from wealthy countries to developing countries (a reversal of flow), and they are motivated by different factors, namely, by lower costs. Patients are drawn abroad by newer (often unproven) procedures performed in some developing countries, the entertaining opportunity to circumvent long wait times, and the added bonus of a vacation(Fun factor). Most medical tourists travel on their own accord and pay out of budget for their respective health services, with the only exception being “outsourced” patients sent by their insurers to get treatment globally
The most recent and hot trend in privatization of healthcare services is medical tourism, which is creating the significant achievement in developing countries like India. Globalization has promoted a consumer needed based culture, thereby promoting goods and services that can feed the aspirations arising from this culture. This has changed the aspect of the medical healthcare sector, with the entry of the corporate. In this background, corporate interests in the Medical Care sector are looking for opportunities that go beyond the limited domestic “market” for high cost medical care. This is the genesis of the “medical tourism” industry.
TOP DESTINATION COUNTRIES TARGETED FOR “MEDICAL TOURISM” & WHY?
Internationally there are several countries in which this sector is serving healthcare solution successfully. From the world class healthcare destinations in complex the countries like India , Costa Rica, Israel, Malaysia, Mexico, Singapore, South Korea, Taiwan, Thailand, Turkey, United States are grabbing the major attention in the medical tourism sector.
What ambitious about this countries?
- Government and private sector investment in the healthcare solutions.
- Demonstrable commitment to international accreditation, transparency of outcomes and quality assurance,
- International patient flow is drastically appealing.
- Potential for cost effective on medical procedures.
- Social stabilities along with Political transparency.
- Excellent tourism infrastructure and vacation add on .
What are the top Healthcare facilities for medical tourist?
- Aesthetic(Beauty & Cosmetic surgery)
- Dentistry (general, restorative, cosmetic)
- Cardiovascular (angioplasty, CABG, transplants)
- Orthopedics (joint and spine; sports medicine)
- Cancer (often high-acuity or last resort)
- Reproductive (fertility, IVF, women’s health)
- Weight loss (LAP-BAND, gastric bypass)
How much can you save?
Analyzing the cost from US across a versatile specialties and fundamental procedures as a benchmark, average range of savings the incurring cost for the most-traveled targeted destinations:
- India: 65-90% (Prior Location)
- Brazil: 20-30%
- Costa Rica: 45-65%
- Malaysia: 65-80%
- Mexico: 40-65%
- Singapore: 25-40%
- South Korea: 30-45%
- Taiwan: 40-55%
- Thailand: 50-75%
- Turkey: 50-65%
CURRENT STATE OF MEDICAL TOURISM AND TRENDS
The number of patients traveling globally today varies widely among reports (from 60,000 to 50 million medical tourists worldwide), in part due to differing definitions of the term “medical tourist.” figuratively all, however, agree that the industry is enhancing. In India alone, the number of tourists was predicted to rise round figure 100,000 in 2002 to over 1 million in 2012. India’s medical tourism sector is expected to experience an annual growth rate of 30%, making it a $2 billion industry by 2015. An estimated figure of 1,50,000 travels to India for low-priced healthcare procedures every year. The Indian government predicts that India’s $17-billion-a-year health-care industry could grow 13 per cent in each of the next six years, boosted by medical tourism, which industry watchers say is growing at 30 per cent annually.
The medical tourism industry is now becoming the most lucrative source of hard currency for destination countries where India is the prior option globally. Its annual growth potential has regularly been estimated above 25% for LMICs such as India. There has been a unique and significant provision and serving the healthcare at a premium for foreign patients and using the difference to subsidize care for locals at a non-profit hospital in India.
The “Cost” is the prominent advantage which is a major selling point. As The popular slogan, thus is, “First World treatment’ at Third World prices”. The cost differential across the worldwide is drastically huge: Open-heart surgery could cost up to $70,000 in Britain and up to $150,000 in the US; in India’s best hospitals it could cost between $3,000 and $10,000. Knee surgery (for the both knees) costs around 350,000 INR ($7,700) specifically in India; in Britain this costs £10,000 ($16,950), more than twice as much. Cosmetic surgeries, Eye and Dental and in Western countries cost three to four times as much as comparatively in India.
India offers most of the significant medical treatment in the world. The privatization in the hospital sector has a fabulous reputation and India’s health care category has sustained excellent boom in recent years. India is now a International health designated country, where the medical tourism growing by 30 % every dynamic year.
Despite any prejudices about healthcare in developing countries like India, rest assured that the private hospitals and cosmetic surgery clinics in India are at the forefront of medical technology and equipped with modern state-of-the-art technology and highly skilled medical personnel. Indian surgeons and doctors are considerably best in the world and their highest ecstasy of surgical expertise evolves from many years of training.
Low price treatment in India
Healthcare facilities in India are among the most cost-efficient in the world with private hospitals offering treatment at a fraction of the price of those in more affluent nations. Breast augmentation costs around €2,200; a facelift will cost approximately around €3,000.
As a medical tourist to India you can book package deals which include flights, transfers, hotels, treatment and often a post-operative vacation. This enables you to take advantage of the ancient Ayurvedic stream of medicines and alternative rejuvenating retreats involving yoga, meditation or naturopathy.
Prior Healthcare & Emerging locations in India
The precious medical hot spots in India are Mumbai, Bangalore, New Delhi, Kolkata (Calcutta), Ludhiana, Chennai and Hyderabad. International flights come into the 17 major airports, which are spread across this vast country.
India has a tropical climate with high temperatures and dry winters and the best time to visit is between October and March as the monsoon is apparent throughout the country between May to September.
Aesthetic (Cosmetic surgical Treatment) sector in Medical tourism
There are a lot of different medical/surgical options for medical tourists. Primarily, medical tourists get elective procedures such as aesthetic treatments(cosmetic surgery) which includes Hair transplantation, hip and knee replacements, dental procedures, infertility treatments; any procedure that is usually not covered by insurance or has a long waiting time in their home country.
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