Transcript Medical Tourism - معاونت توسعه مديريت و
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 Middle Ages 16 th century 17 th /18 th century 19 th century 20 th century Mineral & Hot Spring visits Thermal Springs “Fountain of Youth” Spa Sea & Mountain Air (TB sanitarium) “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 1/10 th costs
: •
Complicated surgical procedures possible at 1/10 th 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 Angioplasty Angiography Hip replacement 30000 2500 3000 19000 Knee replacement 27000 32000 CABG 30000 21000 27000 2000 13000 16000 16000 18000 Lasik 2250 2900 4000 - 5000 1100 750 Max Healthcare 4000 - 5000 Raffles Singapore 5000 400 6000 6000 6400 400 800 6600 6000 9600 (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
Negative Perceptions Hygiene/Unsanitary Pollution Backward & Bureaucratic Accreditation No Uniformity ISO, CRISIL, ICRA WEST: JCAHO
CONCERNS
Consumer’s Point of View Medical Insurance Inadequate Cover Underdeveloped Insurance Frauds No Global Players Overseas Companies Refuse Reimbursements Instability Terrorism Prone Communal Unrest Connectivity No Flights!!
Bad Roads Backward
Industry Issues
Doctors
Standardized education in Medical Institutions Strong regulatory mechanism to curb quacks No communication and inter-personal skills teaching
Nurses & Paramedical
Deficient Language skills Lack of Standardization Attrition
Service
Hygiene awareness in medical attendants Unhygienic Food handling Heterogeneous Pricing of services
PATH FORWARD (Strategy Imperative)
APEX BODY POTENTIAL
+
IMPROVEMENTS SUCCESS GOVERNMENT & INDUSTRY HAND-HOLDING: A MUST
POTENTIAL
Doctors & Paramedics Expertise Recognized Cost Advantage Language Skills Vibrant Industries IT Strength Management Skills Pharmaceutical Industry Tourism Potential Service Industry Mindset
PATH FORWARD (Potential + Improvements)
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 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
REALIZED POTENTIAL
PATH FORWARD (For Success)
SPIN-OFF INDIA EMERGES AS MAJOR MEDICAL TOURISM DESTINATION GDP Growth 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