4) “Medical tourism” is a big and growing business in India and it is expected t

Question

4) “Medical tourism” is a big and growing business in India and it is expected to annually expand at a double-digit rate for the foreseeable future. India’s private hospitals provide modern facilities staffed by skilled doctors and can offer international patients—a grow- ing number from the United States—quality care at affordable prices (e.g., $6,000 for cardiac surgery that might cost $100,000 in the United States). Is there an opportunity for international strategic alliances or joint ventures?

Explanation / Answer

India is a complex market for medical tourism.

1) Most insurance companies in United States do not allow medical tourism even if it is lot cheaper in other countries

2) There are ethical aspects involved in medical tourism, why do we need to transport sick person half way around the world and let them face so many difficulties in relatively difficult country

There is certainly huge oppurtunity to lower healthcare costs for americans by partnering with India, but this must include

1) Special insurance packages which includes everything from airticket and boarding in India

2) Lower premium insurances which must lower costs for americans

3) Aggrements on packages from Indian hospitals to american patients.

For uninsured people it is ofcourse very cheaper to get treated in India anyway.

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