Indian healthcare industry is focusing on clinical outcome through innovation with technology automation to bring in the much-needed patient convenience. This is because patients too, and primarily the medical tourism segment, prefer the hospitals that are able to provide complete services under one roof, said Amit Sharma, founder and CEO of eExpedise Healthcare.
Medical tourists usually decide to travel when they can achieve savings of more than 30 per cent of the cost they have to bear in their home country. For instance, as per information published by OECD, patients in the US save between 30 per cent and 50 per cent of the cost of treatment for common ailments such as heart issues, if they travel to Asia or Latin America for the same treatment.
Expectations of consumers are changing rapidly so is the demand and supply process across the industry, and healthcare is no different. Co-ordinated Healthcare is driving the current healthcare industry, he added.
In an interaction with Pharmabiz on how integrated healthcare solutions are changing the face of economy, Sharma said that the healthcare institutions have understood the consumer expectations and started expanding horizontally and vertically and trying to having all the services under one umbrella or provide the platform where customer can access other required services at its own ease. Some of the large institutes has opened a dedicated concierge department which focus on arrangement of services which are not offered inhouse.
The solution provides consolidating resources for efficiency, expanding access points and market presence, adding resources to assist population health management, acquiring facilities for expansion or diversification, creating a means to recruit and retain physicians … the list goes on.
The integrated and co-ordinated services are not necessarily being related to medical but other services such as for outstation patient and attendants hotel or accommodation near the Hospital or food options as for attendants. In fact it is this service that has made
India a preferred medical tourism destination globally. Patients travelling for medical care look forward to hassle free treatment and post treatment care, this is only possible through integrated healthcare solution, said Sharma
The global medical tourism market was valued at $53,768 million in 2017, and is estimated to reach at $143,461 million by 2025, registering a CAGR of 12.9 per cent from 2018 to 2025. The most frequently availed services via medical tourism route include cancer, orthopaedic, neurological disease, elective surgery, among others.
Affordability and accessibility of good quality healthcare services along with assistance from tourism departments and local governments are the factors that drive the growth of the global medical tourism market. In addition, availability of latest medical technologies in medical tourism hubs, throughout the world, is expected to fuel the market growth, he said.