“The cost of a total hip replacement is about us$50,000 in the
states, while a similar procedure is performed for us$10,000-15,000 in india or Thailand”
The economy of medial Tourism The increased revenue from medical tourism is also being diverted into developing the healthcare facilities and related benefits to the tourists. Thailand is a prominent example in this direction, boasting world-class medical facilities with the best medical technologies and equipment, all accredited with JCI standards. The same holds true for India, Malaysia and other regional countries who have found money from medical tourism patients to pay for improving the facilities and quality of care provided. But we can all very well understand that
improving the standard of medical care in the private sector in any country is an important area of development, and medical tourism has really spurred this in Latin American countries such as Columbia, Mexico and Brazil, and also in Asian countries. It is all because of the additional revenue pouring in from the medical tourism sector that the latest robotic surgeries and the best healthcare facilities are now available in most big cities across all these countries. This has not only benefited the tourists,
but also the local resident population. The new, world-class facilities and the best doctors
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have given the local community the choice to avail the same, contrary to the past where they used to fly to developed countries for treatment. Another evolving important aspect of medical tourism is hospitals getting better by taking accreditations from international standardising bodies. It has also started revolutionising the trends of spending on the latest technologies in healthcare, IT-related solutions and improved web-based services.
Keeping sTandards Patient education standards have also improved, thanks to the medical tourism boom, and more and more emphasis is being put on keeping patients well informed of their illness and its management. This is a very important aspect to prevent litigation, which has marred the process of healthcare in the developed world because it has resulted in increasing costs. Empowering patients with education
will result in better outcomes in disease prevention and progression and will also reduce complications, thus benefiting the implementation of more strict methods of this trend. Medical tourism has made it more important for healthcare providers to prevent litigation due to the lack of information
provided to patients. Insurance companies are not left behind
in providing some innovations to the medical tourism industry and more and more customized and tailor-made packages are evolving. A leading American insurance provider has recently launched a plan for medical tourists from the US, which will give them some cover against complications of procedures once they are home after getting a procedure done overseas. The same goes for insurance companies providing a variety of contingency plans for medical tourists at overseas destinations. Increasing competition and changes in
customer needs and behaviour mean that only the most professional hospitals, agencies and clinics will prosper. The days of sitting back and expecting customers to rush to you are gone forever. All business will be hard won, and many in the business will be found wanting and fall by the wayside. This is just the beginning of the evolution
of medical tourism and we are yet to see some real examples of mass medical tourism either from, or at overseas destinations. Figures quoted by leading international business consultants are amazing and clearly tell of a big industry in the phase of evolution. ■
AH
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