Steps For Starting A Medical Tourism Business

Medical tourism is relevant and a reality today because of ease and affordability of international travel, favorable currency exchange rates in the global economy, rapidly improving technology and standards of care with modern medical treatments in many countries of the world, and most importantly proven safety of healthcare in select foreign nations.

Medical Tourism is an important part of a growing interest of health care providers in other countries around the world willing to attract and accommodate medical travelers.

Trawex helps Travel and Tourism Companies and individual clients in taking advantage of quality medical tourism options at the affordable cost possible in advantageous medical tourism destinations. We know that the consumer seeks satisfaction of needs and these needs are very diverse. 

We will always strive to provide best medical tourism options and packages tailored to our patients needs in order to be satisfied with quality medical tourism deals, offering brokerage arrangements for medical tourism services and choices.

There are generally, three main types of medical tourism, for example, they are Outbound, Inbound and Domestic or Intrabound. 

Outbound: When patients travel from their native country to a foreign country to undergo medical treatment is called outbound.

Inbound: When patients travel from a foreign country to their home country for medical treatment it is called inbound.

Intrabound or Domestic: This involves no International traveling and patients travel from one part of their own country to another to seek medical help.

Medical tourism is booming, as more and more countries have realized that they can bring in big money from foreigners who can get things done for far less than in their home countries.

Medical Tourism can be understood as a form of globalisation which involves travel across international borders to avail medical facilities in foreign destinations. Medical tourism or travel has grabbed the interest of governments and medical professionals alike.

An increase in the number of medical care professionals, patients, and technological improvements have catapulted the following nations to the list of top medical tourism destinations.

India:

India is one of the key players in the travel and tourism industry as it aims is to deliver cutting-edge technology to health care services. The unique feature of India's healthcare is the availability of traditional and effective healing systems such as Ayurveda, Ayush, Yoga, Naturopathy, Siddha, and Unani.

Malaysia:

Malaysia is one of the safest and healthy living-friendly locations for those looking to find assistance outside their country. Malaysia offers excellent client experience with five - star rooms that look more like luxury suites than hospital rooms.

Thailand:

Thailand is well known for its unique hospitality and tropical islands. Thailand has the highest reputation for advanced dental work as well as cosmetic and dermatological procedures.

Turkey:

Turkey is a major player in the medical tourism industry. Turkey offers zero waiting times, affordable, and high-quality healthcare service. The respectful and responsive hospital workers and a large number of qualified doctors together make Turkey an ideal medical tourism destination.

Singapore:

Singapore is the most industrialized country in Asia and specializes in almost all major treatments, making them available at an extremely affordable rate. It has a well-developed biotechnology industry. The warm, tropical climate of Singapore makes you feel comfortable after medical treatment.

Mexico:

Mexico is one of the most popular destinations for medical tourism. Mexico is well known for its rich culture, delicious food, and good taste for art. Mexico has since opened its doors to medical travelers from around the world.
 

Create a business plan according to your intention what kind of services you will offer and how much amount you will charge for the treatment. There are many resources online to offer you such kind of business model to help you in terms of identifying your way of providing treatment as well as an effective business model.

Since there is no official definition of a facilitator — it could be:

• A doctor referring to another doctor.
• A nurse referring to a doctor or clinic as a professional case manager or care navigator.
• A travel agent and an internet catalog.
• A Tour and Travel Software destination management company.
• Individual who is established in business as a “medical matchmaker”.
• A TPA referring to a contracted network provider.
• A hotel concierge with connections to massage therapists and clinics.

The market for medical tourism is expanding rapidly. A successful market is definitely the first factor to be considered before you make the decision of starting a new business. 

Things that will help you get established in the medical tourism industry are the quality of your service, affordability, competitive pricing/packages and finally, gaining the trust of customers. 

As an owner of a medical tourism company your role will be to offer patients affordable and quality healthcare, while sustaining your business on reasonable profits.

A medical tourism facilitator should also be able to come up with an affordable package that covers the accommodation, medical expenses, travel expenses, and other related costs. Now that that’s out of the way, let’s discuss the guidelines for starting a medical tourism business.

1. Analyzing the medical tourism industry

Analyzing the medical tourism sector in a particular location may make it easier to determine the medical care fields that you might want to target for your business. Either way, you should understand the nature of the medical tourism industry in the targeted medical tourism destination, so you know how to channel your business in advance.

2. Working on a business plan

Firstly, start off by sketching out a business plan. Decide what niches of medical tourism your business venture will be targeting. The plan should also lay out an estimate of how many customers your medical tourism business will be able to handle, the prices they are to be charged so it covers your costs, while you make a reasonable amount of profit and such.

3. Obtaining certifications, permits and license

Medical tourism agencies or medical tourism facilitators may be asked to undergo licensing or training before they can openly practice. The requirements for a medical travel agent license vary in each country. Some certifications will help differentiate your business from other competitors in the market by increasing its credibility.

4. Insurance

Insurance is an important consideration for medical tourism businesses. It will help protect your interests in the event that the venture faces any hiccups. Make sure that the policy covers a vast section of your business. 

5. Collaboration

Medical tourism integrates medical care and tourism, meaning you will be collaborating with staff from medical institutions and tourism agencies for your venture.

Here, we will enlist the top medical tourism companies in World. If you are also in the search for a medical tourism agency in the world, then this list of the best medical tourism service providers in world:

• https://www.adityabirlahospital.com/

• https://www.bbhealthcaresolutions.co.uk/

• https://www.healthbase.com/

• https://kpjhealth.com.my/home/

• https://princecourt.com/

• https://www.samitivejhospitals.com/

• https://www.vaidam.com/

• https://costaricamedicaltravel.net/

• https://www.uzleuven.be/en

• https://www.fortishealthcare.com/

Medical tourism mobile apps are critical tools in promoting the booming medical travel industry. Medical tourism apps provide an equal share of threats and opportunities. Modernized apps are facilitating instant online booking for consultations with global physicians. This may be a concern for medical tourism agents and clinics taking unprecedented long times for fixing an appointment.

Few Medical Tourism Mobile Apps catching the attention of global medical travelers:

• TaiwanTrade
• MedTourism
• Mediapp
• PlacidMobile
• HealthTraveler
• 3rdpot

Business Expansion in the Travel Industry:

Online Medical Tourism Portal provides broad access across the world for the customers of the online travel agency. With the availability of a broader accommodation option and a user-friendly booking interface for medical tourism.

Customized Travel portal:

Users approach the Online travel portal as they find arranging for the travel to be difficult. The Online Travel Agencies website is a one-stop shop for all the Travel and Tourism needs with different options to choose from. 

Cost Saving:

Online Travel Agencies could avoid maintaining software, which will save the cost for maintenance and implementation. 

The medical tourism is an outsourcing medical services primarily expensive surgery to low-cost countries. It provides financial value for the growing burden of the costs in mature markets. It also offers an alternative for millions of uninsured people to receive affordable and accessible medical services from developing countries. The medical tourism industry offers high potential for primarily because of its inherent advantages in terms of cost and quality.

Medical Tourism and its benefits are too many to count. One example would be for people who would love to save a useful fortune by not spending too much on quality healthcare. Not only does medical tourism helps you receive the best treatment in a foreign land with a fraction of a cost to a developed country, but it also provides an opportunity for the other country’s economic recovery and growth so basically, it’s a win-win situation to all.