The Government has stated that the value of medical tourism in India is likely to be USD 9 billion by 2020. This is a whopping 200% increase from the USD 3 billion valuations in 2015. For a country that is heavily invested in mutual funds and other financial instruments, such a return over a five-year period would contest with the best performing funds going around.

A fund manager always devises a clear strategy for his/her fund based on economic developments, government reforms, the study of various sectors and businesses and their potential future growth, as well as several other factors. While the core element of this strategy is long-term, there is always room left to manoeuvre in case unexpected developments occur.

Benefits of Medical Tourism

As hospital consultants, we strongly believe that the flag bearers of Indian healthcare must devise a similar strategy for the positive growth of the healthcare scenario in India, which must include medical tourism as a primary force. Some of the incentives to foster medical tourism are as follows:

Low-cost healthcare

When I mention low cost I mean the cost-effectiveness of health care provided in India. The value of services generated at healthcare facilities is at very affordable prices compared to global values. One is likely to get a ‘bang for his buck’ for healthcare services sought in India

Quality healthcare

While the cost of obtaining health care is reasonably low on a global chart, the quality certainly ranks towards the top. India produces doctors and support staff that are among the best in the world and most of the private hospitals and healthcare facilities maintain good standards of patient care. NABH accreditation being made compulsory will hopefully push more hospitals to pay attention to quality and improve upon their own standards of patient care. This officially acquired certification is further going to increase the confidence of patients in these facilities.

Skill and technology

A lot of health care providers, doctors, in particular, have been educated abroad (The USA and Europe mainly) and are well versed with global standards of imparting healthcare. Most hospitals promoting medical tourism in India use some of the latest medical technology and have staff that are well versed in their use.

Language

Unlike most developing nations, India has a large English speaking population, especially in the medical fraternity. Everyone from the taxi driver that receives you at the airport to the doorman that sees you off at the hotel speaks English to ensure smooth communication for most nationalities that visit.

Alternative healthcare

AYUSH (Ayurveda, Yoga, Unani, Siddha, Homeopathy) are gaining ground as popular modes of health care, especially among Westerners. Developing and enhancing such centres is likely to contribute to medical tourism in India in a big way.

Globally cosmopolitan patient load

The number of patients that have sought health care in India over the last few years has hovered around two hundred thousand annually. Traditionally, a large proportion of the number have arrived the UK and the USA (despite boasting healthcare facilities and standards far superior to ours), but in recent times India has seen an influx of patients from the Middle East, Africa, and even the slightly more economically challenged countries like Afghanistan and Bangladesh. The cultural and economic variation of the inflow of patients to India endorses the fact that there is suitable healthcare available for all types of cultures, expectations, and pockets.

Tourism itself

India is a vast and beautiful country and from a tourism, perspective has something for everyone. Not only does the country offer various landscapes and weather conditions, but also provides several options in terms of activity, comfort, budget, and cultural experiences. Travelling, relaxing, and doing what you like most is one of the best ways to recover after any type of surgery and offers the perfect way to complete your recovery.

Developing these attributes, as well as taking into consideration other factors that will help enhance medical tourism in India should certainly be part of the strategy that both the government and private players in India adopt. As healthcare and hospital consultants, we constantly look to associate with projects pertaining to medical tourism.