Medical Tourism

In laymen terms Medical Tourism is like outsourcing of Medical facilities , so that these facilities are available at cheap rates to its consumers.

Need for Medical Tourism :
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The cost of Medical facilities are quite exorbitant in US and European territories, while the same facilities can be obtained at 1/3rd the rate, with the same level of quality in countries like, Thailand, India, China etc.

Potential of Medical Tourism Business :
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Though in India concept of Medical Tourism is still in its nascent state, but as biggies like Apollo Hospitals started looking into viability of this business concept, Medical Tourism gained momentum. More and more foreign patients are turning their faces towards India to get better and cheap quality of Medical facilities in India. Some analyst says that the pace at which this industry is growing, it may surpass IT outsourcing in coming years.

Current hassles of Medical Tourism:
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1. No standard defined legal format : Govt. still has to define a standard legal framework for Medical Tourism, and it has to come up with favorable policies both for the producers and consumers of Medical Tourism.

2. Infrastructure: Leave govt. hospital, even the private hospitals in India doesn't match with hospitals in any of the International standards. Condition of International airports are below International standards, hassles in Custom clearance, Visa processing, etc. such kind of infrastructure problems create delays in providing Medical facilities to the tourists. So in order to tap multi-billion dollar opportunity and to compete against other emerging markets, Indian Govt. has to tie up with private players and lay a plan to built a world class medical and transport infrastructure and also streamline its bureaucratic processes.

Thanks&Regards,
Mohit Kumar