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India Post News Service
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edical tourism is rapidly gaining popularity in the US because of low cost of treatment abroad plus high quality healthcare. US health care costs are often higher than the combined fee of traveling and receiving medical care abroad. For years, Singapore and Thailand have been the market leaders in Asia, providing medical care to patients across the globe at a fraction of the cost of the West. However, in the last decade, India has emerged as the future of medical tourism industry. Low cost has been a key driver in India's rise as a medical destination of choice. The cost savings can be up to 80-90%. India has one of the best qualified professionals in each and every field, and this fact has now been realized the world over. Cities like Chennai, New Delhi, and Mumbai as the new international medical value hubs providing advanced tertiary care on par with its Asian neighbors. According to an industry-wide study, the Indian market is likely to reap $7-8 billion in revenue by 2020, more than double its current level. Cost, quality, and access are the three cornerstones of an excellent healthcare system. Currently, India is not only offering the best combination, it is also more importantly pushing the boundaries without compromising on the outcomes. A large number of India's doctors have trained and practiced abroad. They are highly specialized in their fields, meaning patients can expect to receive the highest quality healthcare standards in the industry. Alongwith world-class health services at an extremely cost-effective rate is the attraction to vacation in the most scenic locales of India. Going a step further, large private hospital chains like Fortis, Apollo, and Max have adopted a holistic approach to providing care to international patients. Once the patient makes contact with the hospital they are provided with accommodation, round the clock interpreter services and their dietary and cultural needs are taken care of. Most of the patients are looking to get treatments like cosmetic surgery, hip replacement surgery, heart bypass surgery and knee replacement surgery. India remains a much favored destination for dental tourists,
April 7, 2017
offering savings between 60-80% on the procedures. Dental infrastructure in India is moderate to high, with all procedures being done there. In October 2015, India's medical tourism sector was estimated to be worth US$3 billion. It is projected to grow to $7-8 billion by 2020. According to the Confederation of Indian Industries (CII), the primary reason that attracts medical value travel to India is cost-effectiveness, and treatment from accredited facilities at par with developed countries at much lower cost. The
past decade seeking medical assistance. Accurate figures are hard to come by, but in 2014 and estimated 1,50,000 medical tourists were treated in India. The Indian Department of Tourism estimates that the average cost of healthcare in India is about one-fifth that of the West and multi-organ transplants are done for a tenth of the cost in the West. There is 'zero waiting time' for patients which is also a major driver of medical tourism in the country. A bone marrow transplant in India would cost around $26,000 in India, compared to about $2,50,000 in the US.
India is future of Medical Tourism The Indian Department of Tourism estimates that the average cost of healthcare in India is about one-fifth that of the West and multi-organ transplants are done for a tenth of the cost in the West. There is 'zero waiting time' for patients which is also a major driver of medical tourism in the country Medical Tourism Market Report: 2015 found that India was "one of the lowest cost and highest quality of all medical tourism destinations, it offers wide variety of procedures at about one-tenth the cost of similar procedures in the United States."
Among top three According to Biospectrumasia.com, India leads the way in orthopedic and cardiac surgeries. The nation's excellent medical care providers, beautiful beaches and ancient temples have all made India join the race with Thailand and Singapore to be listed among the top three destinations for medical tourism in the world in a survey conducted by KPMG and FICCI. Foreign patients have been streaming in the country over the
"Medical tourism has always been a low hanging fruit for India. The country is one among the most preferred destinations globally for Medical Value Travel," said Mr Vinod Y R. "India offers procedures at competitive cost without compromising the quality of clinical outcomes. There is an increasing thrust among Indian hospitals to go for national and international quality assurance certifications like NABH and JCI which eventually helps to attract international patients." Cardiac care is one specialty that draws patients to India. The country's chain of Fortis hospitals boasts of tending approximately 15,000 international patients annually. Apollo Hospitals Group also has a pan-India network attracting considerable amount of international patients. Cont’d on page 31