Tuesday, October 20, 2009
Monday, January 28, 2008
Friday, January 18, 2008
MEDICAL INSURANCE
Medical insurance is seen as the fastest growing segment in the Indian economy.
A recent outcome of the privatisation of health services in India has been the growth of medical tourism to the extent that this sector is perceived as a fast-growing segment of the economy. India is a recent entrant into this industry and is expected to become a $2-billion business by 2012.
The driving force behind medical tourism is its cost effectiveness and the possibility of attracting substantial tourism revenue. Medical care, packaged with traditional therapies like yoga, meditation, ayurveda, allopathy, and other traditional systems of medicines, attract high-end tourists especially from European countries and the Middle East.
Kerala has pioneered health and medical tourism in India. But low- cost treatment is the ultimate factor weighing in favour of India. Medical care costs only one-fifth of the costs in the West. So if a particular surgery costs $30,000 in the West, it would cost only $6,000 in India.
India has gained acceptance in areas of medical care such as organ transplant, knee replacement, open-heart surgery and others because of the efforts of the corporate sector in the medical as well as tourism industry. The state-of-the-art equipment and well-qualified practitioners at these hospitals is what attract patients from other countries.
It is estimated that foreigners account for about 12 per cent of all patients in top hospitalsof Mumbai, like Lilavati, Jaslok, Breach Candy, Bombay Hospital, Hinduja Hospital, Apollo and Wockhardt.
While on the one hand this industry enthuses the tourism ministry, state tourism boards, travel agents, tour operators and hotels, it poses new concerns, since a price advantageis not enough to attract patients. Health and tourism industries need to pool their resources to improve medical standards, clinical expertise, insurance coverage and appropriate infrastructure.However, the cost effectiveness works as a boon only for a fraction of patients who can afford to migrate from their countries where these services are expensive. They come to countries like India, where they can afford almost the same quality of treatment but with the additional excitement of tourism.
Only specialised hospitals run by large private corporate entities are currently able to provide medical tourism. A large influx of the well-heeled or foreign parients could lead to a reverse brain drain with government medical practitioners migrating to these affluent centres of medical excellence, to the detriment of the poor.
At present, about 59 per cent of medical practitioners are located in the cities, though the bulk of India's population lives in the remote rural interiors, which any way are deprived of basic healthcare facilities.
So while private airlines gear up to fly passengers and hotel spas prepare themselves to offer esoteric therapies, the government must roll up its sleeves to ensure this imbalance is not caused in the social sector, while welcoming foreign patients who bring in valuable revenue.
A recent outcome of the privatisation of health services in India has been the growth of medical tourism to the extent that this sector is perceived as a fast-growing segment of the economy. India is a recent entrant into this industry and is expected to become a $2-billion business by 2012.
The driving force behind medical tourism is its cost effectiveness and the possibility of attracting substantial tourism revenue. Medical care, packaged with traditional therapies like yoga, meditation, ayurveda, allopathy, and other traditional systems of medicines, attract high-end tourists especially from European countries and the Middle East.
Kerala has pioneered health and medical tourism in India. But low- cost treatment is the ultimate factor weighing in favour of India. Medical care costs only one-fifth of the costs in the West. So if a particular surgery costs $30,000 in the West, it would cost only $6,000 in India.
India has gained acceptance in areas of medical care such as organ transplant, knee replacement, open-heart surgery and others because of the efforts of the corporate sector in the medical as well as tourism industry. The state-of-the-art equipment and well-qualified practitioners at these hospitals is what attract patients from other countries.
It is estimated that foreigners account for about 12 per cent of all patients in top hospitalsof Mumbai, like Lilavati, Jaslok, Breach Candy, Bombay Hospital, Hinduja Hospital, Apollo and Wockhardt.
While on the one hand this industry enthuses the tourism ministry, state tourism boards, travel agents, tour operators and hotels, it poses new concerns, since a price advantageis not enough to attract patients. Health and tourism industries need to pool their resources to improve medical standards, clinical expertise, insurance coverage and appropriate infrastructure.However, the cost effectiveness works as a boon only for a fraction of patients who can afford to migrate from their countries where these services are expensive. They come to countries like India, where they can afford almost the same quality of treatment but with the additional excitement of tourism.
Only specialised hospitals run by large private corporate entities are currently able to provide medical tourism. A large influx of the well-heeled or foreign parients could lead to a reverse brain drain with government medical practitioners migrating to these affluent centres of medical excellence, to the detriment of the poor.
At present, about 59 per cent of medical practitioners are located in the cities, though the bulk of India's population lives in the remote rural interiors, which any way are deprived of basic healthcare facilities.
So while private airlines gear up to fly passengers and hotel spas prepare themselves to offer esoteric therapies, the government must roll up its sleeves to ensure this imbalance is not caused in the social sector, while welcoming foreign patients who bring in valuable revenue.
"FIRST WORLD TREATMENT AT THIRD WORLD PRICES" INDIA EMEGING AS MEDICAL TOURISM DESTINATION ?
The Price advantage is a major selling point. The slogan, thus is, "First World treatment' at Third World prices". The cost differential across the board is huge: only a tenth and sometimes even a sixteenth of the cost in the West. Open-heart surgery could cost up to $70,000 in Britain and up to $150,000 in the US; in India's best hospitals it could cost between $3,000 and $10,000. Knee surgery (on both knees) costs 350,000 rupees ($7,700) in India; in Britain this costs £10,000 ($16,950), more than twice as much. Dental, eye and cosmetic surgeries in Western countries cost three to four times as much as in India.
India have a lot of hospitals offering world class treatments in nearly every medical sector such as cardiology and cardiothoracic surgery, joint replacement, orthopaedic surgery, gastroenterology, ophthalmology, transplants and urology to name a few. The various specialties covered are Neurology, Neurosurgery, Oncology, Ophthalmology, Rheumatology, Endocrinology, ENT, Paediatrics, Paediatric Surgery, Paediatric Neurology, Urology, Nephrology, Dermatology, Dentistry, Plastic Surgery, Gynaecology, Pulmonology, Psychiatry, General Medicine & General Surgery.
For long promoted for its cultural and scenic beauty, India is now being put up on international map as a heaven for those seeking quality and affordable healthcare. Analysts say that as many as 150,000 medical tourists came to India in 2004. As Indian corporate hospitals are on par, if not better than the best hospitals in Thailand, Singapore, etc there is scope for improvement, and the country is becoming a preferred medical destination.
In addition to the increasingly top class medical care, a big draw for foreign patients is also the very minimal or hardly any waitlist as is common in European or American hospitals. Leisure Tourism is already very much in demand in India as the country offers diverse cultural and scenic beauty. India has almost all sort of destinations like high mountains, vast deserts, scenic beaches, historical monuments, religious temples etc. Known for its hospitality for tourists, the county has opened doors to welcome with the same hospitality f medical patients/ service seekers.
A NICE blend of top-class medical expertise at attractive prices is helping a growing number of Indian corporate hospitals lure foreign patients, including from developed nations such as the UK and the US.
If a liver transplant costs in the range of Rs 60 lakh-70 lakh in Europe and double that in the US, a few Indian hospitals, such as Global in Hyderabad, have the courage to do it in around Rs 15 lakh-20 lakh. Similarly, if a heart surgery in the US costs about Rs 20 lakh, the Chennai-headquartered Apollo Hospitals Group does it in roughly Rs 2 lakh.
As more and more patients from Europe, the US and other affluent nations with high medicare costs look for effective options, India is pitted against Thailand, Singapore and some other Asian countries, which have good hospitals, salubrious climate and tourist destinations.
While Thailand and Singapore with their advanced medical facilities and built-in medical tourism options have been drawing foreign patients of the order of a couple of lakhs per annum, the rapidly expanding Indian corporate hospital sector has been able to get a few thousands for treatment.
But, things are going to change drastically in favour of India, especially in view of the high quality expertise of medical professionals, backed by the fast improving equipment and nursing facilities, and above all, the cost-effectiveness of the package.
The Apollo Group, Escorts Hospitals in New Delhi and Jaslok Hospitals in Mumbai are to name a few which are established names even abroad. A list of corporate hospitals such as Global Hospitals, CARE and Dr L.V. Prasad Eye Hospitals in Hyderabad, The Hindujas in Mumbai, etc also have built capabilities and are handling a steadily increasing flow of foreign patients. "India has much more expertise than say Thailand or Malaysia. The infrastructure in some of India's hospitals is also very good. What is more significant is that the costs are much less, almost one-third of those in other Asian countries," says Dr K. Ravindranath, who returned from abroad to start Global Hospitals, which has facilities for liver, kidney and heart transplantations.
As Indian corporate hospitals are on par, if not better than the best hospitals in Thailand, Singapore, etc there is scope for improvement, and the country may become a preferred medical destination. This can be done through an orchestrated effort by the Centre, airlines, travel houses, insurance companies, tourism sector and healthcare providers.
While accreditation from an international body such as the Joint Commission International (JCI) facilitates better response from Europe and the US, recognition from the National Health Services (NHS) ensures international standards in terms of patient care, quality improvement and patient safety. The Apollo Hospitals Group got accredited with JCI.
Indian corporate hospitals excelled in cardiology and cardiothoracic surgery, joint replacement, orthopaedic surgery, gastroenterology, ophthalmology, transplants and urology to name a few.
The CARE Hospitals, which has specialised in heartcare, has concentrated on drawing patients from the Gulf and at least 50 were treated last year.
In addition to the increasingly top class medical care, a big draw for foreign patients is also the very minimal or hardly any waitlist as is common in European or American hospitals. In fact, priority treatment is provided today in Indian hospitals.
India have a lot of hospitals offering world class treatments in nearly every medical sector such as cardiology and cardiothoracic surgery, joint replacement, orthopaedic surgery, gastroenterology, ophthalmology, transplants and urology to name a few. The various specialties covered are Neurology, Neurosurgery, Oncology, Ophthalmology, Rheumatology, Endocrinology, ENT, Paediatrics, Paediatric Surgery, Paediatric Neurology, Urology, Nephrology, Dermatology, Dentistry, Plastic Surgery, Gynaecology, Pulmonology, Psychiatry, General Medicine & General Surgery.
For long promoted for its cultural and scenic beauty, India is now being put up on international map as a heaven for those seeking quality and affordable healthcare. Analysts say that as many as 150,000 medical tourists came to India in 2004. As Indian corporate hospitals are on par, if not better than the best hospitals in Thailand, Singapore, etc there is scope for improvement, and the country is becoming a preferred medical destination.
In addition to the increasingly top class medical care, a big draw for foreign patients is also the very minimal or hardly any waitlist as is common in European or American hospitals. Leisure Tourism is already very much in demand in India as the country offers diverse cultural and scenic beauty. India has almost all sort of destinations like high mountains, vast deserts, scenic beaches, historical monuments, religious temples etc. Known for its hospitality for tourists, the county has opened doors to welcome with the same hospitality f medical patients/ service seekers.
A NICE blend of top-class medical expertise at attractive prices is helping a growing number of Indian corporate hospitals lure foreign patients, including from developed nations such as the UK and the US.
If a liver transplant costs in the range of Rs 60 lakh-70 lakh in Europe and double that in the US, a few Indian hospitals, such as Global in Hyderabad, have the courage to do it in around Rs 15 lakh-20 lakh. Similarly, if a heart surgery in the US costs about Rs 20 lakh, the Chennai-headquartered Apollo Hospitals Group does it in roughly Rs 2 lakh.
As more and more patients from Europe, the US and other affluent nations with high medicare costs look for effective options, India is pitted against Thailand, Singapore and some other Asian countries, which have good hospitals, salubrious climate and tourist destinations.
While Thailand and Singapore with their advanced medical facilities and built-in medical tourism options have been drawing foreign patients of the order of a couple of lakhs per annum, the rapidly expanding Indian corporate hospital sector has been able to get a few thousands for treatment.
But, things are going to change drastically in favour of India, especially in view of the high quality expertise of medical professionals, backed by the fast improving equipment and nursing facilities, and above all, the cost-effectiveness of the package.
The Apollo Group, Escorts Hospitals in New Delhi and Jaslok Hospitals in Mumbai are to name a few which are established names even abroad. A list of corporate hospitals such as Global Hospitals, CARE and Dr L.V. Prasad Eye Hospitals in Hyderabad, The Hindujas in Mumbai, etc also have built capabilities and are handling a steadily increasing flow of foreign patients. "India has much more expertise than say Thailand or Malaysia. The infrastructure in some of India's hospitals is also very good. What is more significant is that the costs are much less, almost one-third of those in other Asian countries," says Dr K. Ravindranath, who returned from abroad to start Global Hospitals, which has facilities for liver, kidney and heart transplantations.
As Indian corporate hospitals are on par, if not better than the best hospitals in Thailand, Singapore, etc there is scope for improvement, and the country may become a preferred medical destination. This can be done through an orchestrated effort by the Centre, airlines, travel houses, insurance companies, tourism sector and healthcare providers.
While accreditation from an international body such as the Joint Commission International (JCI) facilitates better response from Europe and the US, recognition from the National Health Services (NHS) ensures international standards in terms of patient care, quality improvement and patient safety. The Apollo Hospitals Group got accredited with JCI.
Indian corporate hospitals excelled in cardiology and cardiothoracic surgery, joint replacement, orthopaedic surgery, gastroenterology, ophthalmology, transplants and urology to name a few.
The CARE Hospitals, which has specialised in heartcare, has concentrated on drawing patients from the Gulf and at least 50 were treated last year.
In addition to the increasingly top class medical care, a big draw for foreign patients is also the very minimal or hardly any waitlist as is common in European or American hospitals. In fact, priority treatment is provided today in Indian hospitals.
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