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Medical Tourism: The Next Big Export Earner?

  • By Admin
  • 20 Jun 2018

To many, this term may be an all-new context. But, to your surprise, this is supposedly the next big export earner. For someone, who is not aware of this term, Medical tourism is traveling to another country to get medical help. The exponential growth in Medical tourism has widely captured the attention of media, policy-makers, and researchers. Initially, the term implied traveling of individuals residing in lesser developed countries to the developed countries in order to get the proper medical help that was not available in their country. The word ''tourism'' in the term ''Medical tourism'' implies that people usually stay in the foreign lands after acquiring the medical help. Travelers can hence, avail the benefit of visiting their country for sightseeing and other day trips can be attended or people can even participate in any of the traditional events happening in that particular country. Price Medical tourism represents multi-billion dollar process worldwide that is expected to grow exponentially in the future. For a person who is interested in health care services, cost plays a major key factor in the decision to receive medical help abroad. More and more companies have started observing ''Medical tourism'' as an emerging market and they foresee great financial benefits in this business and hence, have started offering premium medical services at considerably lower prices. The major reason that the companies have lowered their prices in the developing countries is directly in sync with the nation's economic status. As a result, surgery costs are from 30%-60% lower in the nations promoting medical tourism when compared to a nation like the US. Quality There are two major concerns of the service quality in the medical sector- mechanical or technical quality and functional or serviceable quality. Technical quality implies the core of the person's diagnostic algorithm, while the functional quality is based on the type of medical service offered at the medical center, for instance, services of the nurses, staff, and majority the physicians towards the assistants and the patients. The service quality plays an important role in attracting customers. Types involved in Medical tourism A wide range of services can be attained through medical tourism. It ranges from various important and necessary treatments to various kinds of alternative and traditional methods and treatments. The popularity of reproductive outsourcing and reproductive tourism is increasing exponentially. This is the practice that involves traveling abroad to seek medical help for surrogacy, in vitro fertilization and such various reproductive advanced technology methods. Apart from the cost, the other factor responsible for the increased popularity of medical tourism is access. If there is a non-availability of it either due to the prohibition in the homeland or due to the unavailability of the technology, can consequently direct towards the medical tourism. Other such instances are stem cell therapy or cytoplasmic transfer.