Indian Medical Tourism industry is anticipated to poise a growth of 7-8 billion USD by 2020, and is considered to throw tons of business opportunities in the healthcare sector.
The concept of medical tourism has established itself quite well in the country, making India a hub for low-cost and effective healthcare facilities for people from other countries. Indian Medical Tourism industry is anticipated to poise a growth of 7-8 billion USD by 2020, and is considered to throw tons of business opportunities in the healthcare sector.
Here we unveil some business opportunities that are driving the growth of medical tourism in India.
The first and the foremost requirement of a traveling patient is a reliable healthcare provider. Healthcare providers include institutions like hospitals, clinics and independent doctors. In India, some of the leading hospital chains like Fortis, Max Healthcare and Narayana Institute of Cardiac Sciences are contributing as healthcare providers for foreign patients.
Agent and facilitator
Agents and facilitators are the ones that connect the patients to the right healthcare provider that falls in their budget. These agents and facilitators are an important part of medical tourism in India. Medical tourism offers opportunities to work as an agent between the healthcare provider and patients. People who are into this for a long time can also open their own agencies to meet the requirements of mass medical tourists.
Travel Desk in Hospitals
Hospitals that sell medical tourism require a dedicated travel desk. These travel desks undertake the comprehensive marketing of hospital with regard to medical tourism. Travel desk helps to fulfill formalities like FRRO, visa extension, accommodation outside hospitals among others. This can be a great employment opportunity in the field of medical tourism.
Travel and tourism
Travel agencies, airlines, transport companies, hotels and travel guides, are some of the mediators that are essential for carrying out the transportation and accommodation of the patients. Designated companies for carrying out all of these activities can help in providing the sophisticated system for traveling patients. ‘Humane International Medical Tourism’ is one such agency, providing all the facilities at one go.
The minimum investment required to open a medical tourism agency is estimated to be around 2 million INR, which is quite feasible when it comes to starting up a business which has high ROI of approximately 12%.
Medical Insurance companies
Medical insurance plays an immense role in providing the coverage to international patients seeking medical treatment abroad. This facility helps the patients to complete their medical procedures in case they fall short of money. Insurance companies that provide capitals for the treatment are of great help for patients, hence there is an increasing demand for medical insurance companies in the market.
Every entity involved in the tourism and medical industry plays a pivotal role in the growth of medical tourism industry. The growth of this industry brings lots of opportunity for aspiring entrepreneurs in the healthcare sector.