ASSIGNMENT ON MEDICAL TOURISM

SUBMITTED BY: SURBHI SINGH BBA(TTM) 6TH SEM 01814905009

Department of Business Administration MAHARAJA SURAJMAL INSTITUTE Recognised by UGC u/s 2(f) Affiliated to Guru Gobind Singh Indraprastha University C-4, Janakpuri, New Delhi Session- 2009-2012

MEDICAL TOURISM
INTRODUCTION:
Medical tourism (also called medical travel, health tourism or global healthcare) is a term initially coined by travel agencies and the mass media to describe the rapidly-growing practice of travelling across international borders to obtain health care. It also refers pejoratively to the practice of healthcare providers travelling internationally to deliver healthcare. Services typically sought by travelers include elective procedures as well as complex specialized surgeries such as joint replacement (knee/hip), cardiac surgery, dental surgery, and cosmetic surgeries. However, virtually every type of health care, including psychiatry, alternative treatments, convalescent care and even burial services are available.Over 50 countries have identified medical tourism as a national industry. However, accreditation and other measures of quality vary widely across the globe, and some destinations may become hazardous or even dangerous for medical tourists.In the context of global health, the term "medical tourism" is pejorative because during such trips health care providers often practice outside of their areas of expertise or hold different (i.e., lower) standards of care. Greater numbers than ever before of student volunteers, health professions trainees, and researchers from resource-rich countries are working temporarily and anticipating future work in resource-starved areas. This emphasizes the importance of understanding this other definition. Medical tourism focuses on medical conditions, travel, global health, health tourism, and describes the practice with people who travel destination for medical care, or election. On the other hand, also shows that travel suppliers to provide medical care to people of other countries. Medical tourism is becoming more common among those who want to be the choice when it comes to their health. The services provided in medical establishments of tourism is almost unlimited and can include cardiac surgery, join replacement surgery, plastic surgery, dentistry, and artificial insemination. Furthermore, medical tourism include alternative medicine in treating psychiatric and rehabilitation. Who cares about the quality

of care in medical tourism can be seen in the U. S. International Joint Commission, among other companies, which control the accreditation of medical institutions outside the United States. Patients look for an object or a hospital approved as a reliable source, when considering treatment abroad. Medical tourism is gaining popularity because of the many benefits associated with medical treatment abroad. The main advantages of medical tourism include the cost of your comfort and ability to integrate health care local and exotic high quality. Those who live in countries with low levels of health and medical tourism as a tool to participate in long-term medical treatment that is available in the house. However, these first world countries are more likely to travel for medical reasons. Generally refers to people from countries like USA, UK and Canada have more wealth, which, with high expectations for general health, the effects of the first people in search of alternatives, including including the role of the working surface or a psychiatrist couch.The main reason why people choose to seek treatment abroad is cost. Even those with insurance may cancel trips for medical care, especially when the whole trip, including treatment, may be much less than the cost of security breaches. These savings, with the promise to stay far away, that medical tourism an attractive incentive for many. Although acceptable save up to 50% of the total cost in some cases can achieve far greater savings. He went to India and Costa Rica saves up to 80-90% in some types of treatment compared to standard costs in North America, or the British Isles. medical tourists travel to Thailand and cardiac surgery can expect to pay only 20% of what you would pay in the United States., hip surgery knee replacement can cost between $ 25,000 and $ 50,000 U.S., but may worth only $ 5,000 in Colombia and India. Because medical tourism should also be aware of legal and ethical issues to display. Because laws and options for resolving conflicts is different in other countries, people should know their rights when receiving medical treatment abroad. With all due respect, ethics, medical tourists should be aware of the problems around the organs and tissues that can be purchased illegally. Many skeptics argue that citizens of countries in medical

tourism is gaining in popularity is often difficult for medical treatment because doctors are more focused on foreigners entering the country for medical treatment. In many defenders worldwide travel and medical tourism or health, think the risks outweigh the benefits, especially when the person is difficult to search and find the authoritative source of health. The main concern is the reduction of costs related to medical tourism, particularly in countries where health care costs by increasing the percentage of inmates. Regarding the development of technology and international standards of care, tourists can enjoy a medical treatment is as good, if not most, of their treatment on its territory. When time is expensive, many come to see that the only way to get emergency medical care to travel. Add to this embodiment, after the holidays abroad in connection with or required surgery or treatment of choice, and many have decided that medical tourism is the answer. From a simple relatively low cost of international travel, getting to your destination is not as difficult as it might have once. In short, many people today believe that the Greeks were very smart when it introduced the concept of medical tourism, thousands of years.

IMPORTANCE OF MEDICAL TOURISM Competition with other regions is one of the few things likely to slow the sad decline of Western medical research and development of commercial therapies into an over-regulated, motionless morass. Efforts like FasterCures are also important, but only the overwhelming evidence of being left in the dust - with inferior medical technology - is likely to motivate bloated modern governments. So rising medical tourism is a very good thing; it's the most visible sign that someone, somewhere has escaped from crushing regulation in order to make real progress in curing disease, bringing costs of treatment down, and extending healthy life spans A holistic enterprise strategy defers a wide range of benefits such as cost savings (tangibles and intangibles), risk management, new market opportunities and brand equity which will create either short term or long term solutions. Medical tourism is provision of cost effective private medical care with help of travel industry for patients in need of surgery or other type of surgical treatment. Medical tourism provides patients globally with cost effective wellness medical care.

Types of medical tourism

Cosmetic surgery: Plastic surgery is a medical specialty concerned with the correction or restoration of form and function. Though cosmetic or aesthetic surgery is the best-known kind of plastic surgery, most plastic surgery is not cosmetic: plastic surgery includes many types of reconstructive surgery, hand surgery, microsurgery, and the treatment of burns.

Dental Procedures: Dental procedures are targeted at fixing the smile of the person. There are many persons who travel abroad to avail the cheap procedures for treating complex dental problems. Some of the famous treatments associated with Dental procedures include teeth implants, teeth whitening, Root Canal, complex cases like maxillofacial surgery which is related to correct injuries and defects in neck, head, face and jaw.

Alternative Treatments: As per the classification of National Library of Medicine, Alternative treatments are complementary therapies that not currently considered a part of conventional allopathic medical practice. These types of treatment therapies are not available at U.S hospitals. Such interventions cover wide range of therapies such as naturopathy, mega-vitamin therapy, acupuncture, massage, herbalist, cancer therapies, homeopathy, chiropractic, and new age healing.

Wellness tourism: It includes the treatment therapies selected by generally healthy people who look to enhance their health via various preventative care treatments including yoga, meditation, medical check-ups, mega-vitamin therapy, etc. Many people are slowly adopting wellness therapies as a way for better living and alternative to allopathic medicine treatment.

Economic growth
Medical tourism is a growing sector in India. Indias medical tourism sector is expected to experience an annual growth rate of 30%, making it a $200 billion industry by 2015.[1] As medical treatment costs in the developed world balloon - with the United States leading the way - more and more Westerners are finding the prospect of international travel for medical care increasingly appealing. An estimated 150,000 of these travel to India for lowpriced healthcare procedures every year. According to the Wikipedia, the free Encyclopedia, Medical tourism is a term that has risen from the rapid growth of an industry where people from all over the world are traveling to other countries to obtain medical, dental and surgical care, while at the same time touring, vacationing and fully experiencing the attractions of the countries that they are visiting. It can be broadly defined as travel undertaken for the purpose of availing cost effective healthcare that meets international standards of care and comfort. 1.3 million medical tourists visit Asia / year Nos. of US patients seeking cheaper care year Over 1, 50000 medical tourists travelled to India in 2002 bringing in earnings of $ 300 million. 2006-07 > 3,00000Indias Tourist Industry could yield from $ 1.2 billion presently to $ 2.2 billion annually by 2012 . The growth rate of Medical Tourism Industry @ 12% in 2002 will go to @ 30% annually by 2012 . Up market private care in India to be worth from Rs.15000 crores to Rs. 30,000 crores by 2012 Medical Tourism revenue can potentially rise from Rs. 5000 crores to Rs.10,000 crores per year. abroad - grew to 7,10,000 /

$ 17 billion Indian Healthcare Industry contributes about 4% -5% of GDP. It is expected to grow @ 13% annually in next 5 yrs. Health care spending in India will increase from Rs. 86,000 crores in 2000-2001 to over Rs. 200,000 crores by 2012. Private Health care share will form the largest of this @ Rs.156,000 crores and growth will be driven by rising life style diseases.