The industry in india has seen a 20% increase in its Annual turnover.
If there is any industry in India which has benefited from the global recession, it is the medical tourism industry, which has recorded a 20% hike in the annual turnover.
If experts are to be believed, the recession has played a vital role in getting more foreigners to India for affordable treatments.
Many people from America and Europe who look to India for medical procedures are actually those who cannot afford insurance in their own country. “India is an attractive option for them,” said Sujit Chatterjee, CEO, Dr LH Hiranandani Hospital. Apart from Americans and Europeans, low earning groups from Asian and middle-east countries are also attracted to India.
On the other hand, many from the developed countries are also seeking medical advice and treatments in India.
“We have seen a 20% rise in the medical tourism turnover. It is obvious that many foreigners are coming down for treatment,” said Anupam Verma, vice-president of the Medical Tourism Council of Maharashtra.
There are several foreigners who do not want to cling to their insurance unnecessarily.
“For example, there is a long waiting list in the UK for medical insurance and other procedures and they prefer the cheaper option in India,” said Verma, who is also the CEO of DM Healthcare which funds healthcare projects in India and abroad. “Very often, they come to India as tourists. They find out the cost for their treatment and get it done immediately.”
The combination of quality and affordability is also a major point. “We are the only country which offers a combination of quality and affordability in the medical procedures,” said Vishal Bali, CEO of the Wockhardt Hospitals.
The top hospitals here are Joint Commission International (JCI) accredited, thus assuring high quality service. A joint replacement surgery, which would cost anywhere around US $60,000 (Rs27,90,000) abroad will cost only US $8,500 (Rs3,95,250) in India. “Even if we calculate the travel expenses, a tourist would spend not more than US $10,000 (Rs4,65,000) in all,” said Bali.
Our doctors are highly skilled, said Sujit Chatterjee. “We have acquired machinery which is of superb quality. However, We are a step behind in sophistication.”
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