In the past, medical tourists have usually sought out countries with a developed medical infrastructure and high-quality healthcare. But now, a growing number of patients are turning to countries like India, which have a low-cost, yet high-quality health care system, in order to access the care, they need without breaking the bank. More on this from Kushal Bhatnagar and his team…
1. Key medical treatments cost 30% to 40% lower in India in comparison to other medically advanced countries
High-quality care that India is known for is not compromised even as the health care industry becomes increasingly competitive. The large number of highly trained doctors in India also makes it a premier destination for medical tourism, with patients from around the world coming to the country to access the care of these highly skilled physicians.
2. In India, the typical medical tourist journey is widely getting digitized for a better customer experience
Thanks to the country’s growing adoption of technology, everything from consultation and lab tests to surgery and discharge involve technological interventions that have made the journey seamless. Clearly, technology has seeped into the fabric of Indian healthcare, and this can play a huge role in positioning India as a global leader as far as healthcare and medical tourism is concerned.
3. With high-quality doctors and care facilities, topped with digitized and easy to access lab tests, digital India is paving the way for satisfactory medical tourism
Digital surgery care platforms have the added advantage of providing their users with a hassle-free experience, low pricing, cashless insurance coverage, real-time updates, app-enabled tracking, and more.
4. Hospitals are also finding the increased OT utilization rate attractive and therefore gearing to open their facilities for medical tourism
With the intervention of technology, an increase in revenue and profitability as well as improved branding and visibility were observed, particularly in small and medium hospitals.
5. Increase in the number of incoming medical tourists suggests a huge headroom for growth!
In fact, our findings suggest that the revenues from the international patient segment account for 10% of the hospital revenues for large, listed players. Thus, all these factors pose as a catalyst in putting India on a pedestal as far as global medical tourism goes. There is no denying that the procedure to obtain medical visas, get consultations & other arrangements in place is a major pain point for patients: but this too is being solved by digital
players who have entered the market.