Medical tourism is one of the fastest-growing sectors in India according to the reports issued by NITI Aayog. Medical value travel serves as the major source of foreign economic exchange and is expected to be responsible for 20% of the global market share by 2020.
India has seen a striking increase in the rate of patients flying down from other countries for the past 4-6 years. Apart from benefiting the pharmaceutical and medical equipment industries, the regular inflow of patients has led to a growth of employment in the country.
Reasons why India is deemed as the premier centre for medical tourism:
- As per a doctor’s guide to medical tourism in India is known for its cheapest medical assistance, which is 1/10th of the expense in the UK/USA.
- India provides high quality medical treatment with medical intelligence restoring to advanced technologies and equipment.
- The ministry of health to promote medical travel in India offers visa on arrival for some countries, which is valid up to 30 days of their total treatment.
- Around 10% of the total Indian population can speak English, and it is one of the most widely spoken languages in all countries. Thus, the patients face no communication issues.
Ways to attract more patients from other countries
- Incorporating newer medical technologies and online assistance for patients. Apps like Lybrate for doctors helps in connecting other doctors privately. They can share their views, everyday moments of their practice and also manage patient’s records efficiently.
- The medical institution should invest in collaborating with other hospitality partners to ensure better services and hospitality for the patients.
- Introducing ways to invest for patient engagement, as the prolonged process of treatment is often disheartening and taxing for the patient as well as for the relatives.
- Use of practice management software should be practised as it is an electronic way of maintaining medical records of a patient which is devoid of any human flaw.
- Investing in proper accommodation and security services for the patients and their relatives.
The costs involved to execute the above mentioned ways may involve extensive funding. Various financial institutions offer doctors loan under affordable rates for different medical-related purposes.