Medical Tourism : Introduction

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Table of contents

1.0 Introduction2
1.1 Medical Tourism 2
2.0 Aims3
2.1 Objectives3
2.2 Scope of the study3
3.0 Research Methodology3
3.1 Data Collection5
3.1.1 Primary Data5
3.1.2 Secondary Data5
4.0 References:6

1.0 Introduction
1.1 Medical Tourism
Medical Tourism refers to movement of consumers to the country providing the service for diagnosis and treatment. The size of this market is estimated to be $40 billion based on a Saudi Report in 2000. During the past four years, the market grew at a whopping rate of 20-30% and is expected to grow further. Considering this growth the current market size is estimated to be $100 billion. Medical Tourism industry offers tremendous potential for the developing countries because of their low-cost advantage. The advantages of medical tourism include improvement in export earnings and healthcare infrastructure. Many people in westernised world are accustomed to visit other nations which can offer medical treatment and very economy rates. In other words high quality health care treatments can be best available abroad at a very affordable prices (Herrick, 2007). Medical tourism has been very popular among the nations like Thailand, Philippines, Malaysia, India, Cuba, South Africa, Singapore etc (Bookman, 2007). In order to realize the full potential of the industry, it is imperative for these countries to develop a strategic plan for coordinating various industry players –the medical practitioners, private hospitals, policy makers, hotels, trans portation services and tour operators. This report presents the strategy that needs to be implemented by India, one of the key destinations for Medical tourism, in order to achieve industry-leadership. The reason for rapid growth of the medical tourism may be attributed to long waiting lists, opened channels for a high quality treatments etc (Carrera and Percivil, 2008). The Medical Tourism Industry in India is poised to be the next big success story after software. With a great information technology (IT) hub in India, it has got great potential for medical tourism (Connell, 2006).According to a Mckinsey-CII study the market size is estimated to be Rs.5000-10000 Crores by 2012. The key concerns facing the industry include: absence of government initiative, lack of a coordinated effort to promote the industry, no accreditation mechanism for hospitals and the lack of uniform pricing policies and standards across hospitals. 2.0 Aims

To analyse business strategies of medical tourism industry and based on the data analysed necessary recommendations are provided in order to develop the efficacy of the this industry in India. 2.1 Objectives

* To explore the field of medical tourism and different business strategic approaches followed by other developing nations * To analyse the current position of Medical Tourism in India * To evaluate business strategies thrusts for the future

* To provide necessary conclusion and recommendation.       2.2 Scope of the study:
There has been a considerable improvement in medical tourism all over the world. However, the developing nation like India needs to develop its own areas to contribute more towards medical tourism. The research had found suitable hypothesis for this study which will be helpful to be tested and effectively practiced in India. The conclusion may provide additional plans for the sustainability of medical tourism in the state. 3.0 Reasearch Methodology

Research helps in exploring the new things in certain area of interest and enhances the knowledge (Jenkowicz, 2003). It helps in analysing the conflicts in that particular area and tries out in finding some solutions for a particular conflict. It is the logical and systematic exploration of particular area of interest (Collins, 2003). These acts as template for carry out research. This further enhances the quality of the research (Malhotra, Birks, 2005). Research design can be classified as...
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