The Hindu Business Line : Govt plans to promote medical tourism from Oct

CLOSE on the heels of introducing medical visas, the Government is shifting gears. Come October, the Government plans to start overseas marketing of India as a medical tourism destination.

According to senior Government officials, "The formalities for marketing medical facilities to a global audience have already started. We hope to complete the process of price-banding of hospitals in various cities by the third quarter of this year."

By marketing India as a global medical tourism destination, the Government hopes to capitalise on the low-cost, high-quality medical care available in the country. Medical tourism focuses on treatment of acute illness, elective surgeries such as cardiology and cancer, among others.

Statistics suggest that the medical tourism industry in India is worth $333 million (Rs 1,450 crore) while a study by CII-McKinsey estimates that the country could earn Rs 5,000-10,000 crore by 2012. Probably realising the potential, major corporates such as the Tatas, Fortis, Max, Wockhardt, Piramal, and the Escorts group have made significant investments in setting up modern hospitals in major cities. Many have also designed special packages for patients, including airport pickups, visa assistance and board and lodging, health care industry officials said.

While the trickle of foreigners coming to India for treatment has started, officials are hopeful that this will become a flood once the various initiatives being taken by the Government take off. Apart from receiving patients from those parts of the globe that have poor medical facilities, India has also been getting some medical visitors from the West for a variety of reasons including the long waiting period there for treatment in Government hospitals there.

Among the factors that make India an attractive proposition for medical treatment is cost efficiency.

It is estimated that while it would cost about $30,000 to get a heart surgery done in the US, while the same could be performed here for about $6,000. Similarly, a bone marrow transplant could cost about $2,50,000 in the US while it could be done here for about $26,000.

The Government has introduced various policy measures to further encourage medical tourism.

For instance, the National Health Policy recognises the treatment of international patients as an export, which allows private hospitals treating such patients to enjoy benefits such as lower import duties, increase in the rate of depreciation (from 25 per cent to 40 per cent) for life-saving medical equipment, and several other tax sops.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Fighter pilots don't fit the bill to land airline jobs

Corporates can't bypass jurisdictional zonal benches, says CESTAT

Illiquid stocks — They may be shunned by the market but they reward their shareholders

BCCI hopes to get over Rs 1,000 cr from telecast rights

Asset-backed securitisation set to grow on loans to used vehicles

Paint companies margins under pressure in Q1

PM outlines economic growth plan — Focus to be on infrastructure development

Govt plans to promote medical tourism from Oct