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© 2015 Medical Travel Today

Medical Travel Today is a publication of CPR Strategic Marketing Communications, a public relations firm based near New York City that specializes in healthcare and life sciences, with an international clientele. CPR, its Partners, and clients are at the nexus of where medical travel is today, and where it will be tomorrow.

Publisher
Laura Carabello

Editor
Laura Carabello

Managing Editor
Megan Kennedy

Table of Contents

From the Editor

From the Editor: This week in Medical Travel Today, Laura Carabello

News in Review

 

Cayman Islands Promotes Medical Tourism With New Partnership

German Firms Dig into Korea's Medical Tourism

Best and Worst Hospital Rankings Often Conflict, Confuse Consumers

New 100-Bed Super Specialty Hospital Opens Doors.

Intex Technologies Forays into Medical Tourism Sector

Principal Solar Announces Second Utility-Scale Project in North Carolina

Canadian Specialist Hospital Joins DMT Club

Century Properties Eyes Medical Tourism for New Project

Spotlight Interview

Nicolene Botha, Marketing Director, NameSleuth, Inc.

Perspectives

On Accurately Comparing Clinics Between Countries

Industry News

The Elusive Medical Travel Business Model

Medical Tourism in Malaysia

In Bangkok But Not Boston

Medical Tourism Market Was Valued at $10.5 Billion in 2012 and Is Estimated to Reach a Market Worth $32.5 Billion in 2019: Transparency Market Research

Outbound Medical Tourism From U.S. Is Growing Rapidly

6th Annual International Medical Travel & Global Healthcare Business Summit

Help Save a Life and Support MatchingDonors

Upcoming Events

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6th Annual International Medical Travel & Global Healthcare Business Summit

Destination: Health Canadian Medical Tourism Trade Show

2nd Istanbul Medical, Health, Geriatrics, Termal, Spa & Wellness Tourism Fair & Congress

Arab Health: International Medical Travel Exhibition and Conference

9th Annual 2015 Global Spa & Wellness Summit

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THIS WEEK IN MEDICAL TRAVEL TODAY

Volume 8, Issue 12

Dear Colleagues:

It is clear that the medical travel marketplace has been fueled in large part by networking opportunities at various industry conferences, many of which are showcased in this newsletter.

We happened to come across a very interesting app designed to enhance the networking experience of conference attendees, and we thought our readers, including event producers, would want to learn more.

With this as background, Medical Travel Today recently sat down for an interview with Nicolene Botha, marketing director for NameSleuth, Inc., producers of the new NameSleuth app, to hear why she thinks this technology solution will be the next big thing in the conference world for those who value in-person connections.

We're starting to hear from many hospitals, independent surgi-centers and provider groups that want to be better positioned to serve self-funded employers offering medical/surgical travel options.  If you have a good story to tell us, please be in touch!  We want to boost opportunities for Centers of Excellence nationwide. 

Tell us:

What distinguishes your service offering in tverms of cost, patient experience and satisfaction, outcomes, or other quality indicators. 

Send us your descriptor, including photos or charts, and we will evaluate for publication in this newsletter.
Please be in touch and let me know how you are surviving and thriving in this emerging marketplace. 

Laura Carabello
Editor and Publisher
Medical Travel Today
lcarabello@cpronline.com
http://twitter.com/medtravtoday
http://twitter.com/CPR_Comm

 

Editor's Note: Emerging Industries Can Learn From One Another

Medical Travel Meets Solar

When leaders in medical travel scratch their heads to figure out what will jump-start widespread adoption, they might want to look at other emerging industries - like the renewable energy sector -- that have mastered the art of disruptive innovation.

While the comparison between medical travel and solar seems unlikely, consider the fact that both are regarded as emerging industries: generally defined as a group of companies in a line of business formed around a new product or idea that is in the early stages of development. Typically, it consists of just a few companies and is often centered around a new technology.

Barriers to entry in emerging industries can be low because of limited competition, but it may be difficult to secure financing to grow the company. Entirely new or restructured industrial sectors, however, are growing at a rate faster than the overall economy. Such industries usually come into being when customers need change, new technologies replace older ones, or when new socio-economic conditions emerge.

This sounds like medical travel.

In December 2014, research and advisory firm Frost & Sullivan looked at 10 emerging industries and rated them on the four operating categories of market attractiveness, their ability to disrupt their industry, level of certainty of future business, and degree of innovation. After scoring each of 10 industries across those four categories, they gave the highest overall score to the industry of business-to-business and retail e-commerce, which it calls B2B Online Retail.

Perhaps the medical travel industry fits this category. But how can it mature, and where can it turn for guidance?
Let’s look at solar and the renewable energy category. While solar and wind companies in this emerging sector historically struggled for market positioning, they successfully shed the term "alternative" and transitioned to mainstream. In other words, they gained credibility and public trust by documenting value - and this is paying off.
Today, companies in this sector are capturing business, as well as the attention of investors. How did they make this transformation? They became adept at tackling some of the greatest skeptics who doubted that their industry would survive without government subsidies.

Now, even the most ardent objectors can’t help but feel bullish about these new energy sources and their unending ability to generate power without harmful emissions. Solar, in particular, represents a limitless source of sunshine and has attracted some of the most attractive IPOs and stock offerings.

Take a look at Principal Solar www.principalsolar.com which just announced it will be building the largest solar generating facility east of the Rockies. One must immediately ask how an early stage company can secure the rights to such a significant project. The answer goes back to disruptive innovation as explained earlier. In traditional industries, it is almost never the infrastructure companies that introduce the innovation and game-changing methodologies, but instead the fast-footed innovators.

What did they do right, and where is the parallel to medical travel?

  • Emerging alternative energy companies addressed some big problems: finite fossil fuel sources, dangerous emissions, volatile pricing, maintaining diversity and the fuel-profile of our grid evolves, and a growing reluctance to rely upon foreign oil.

The medical travel industry is already positioned to effectively address big global problems - cost, quality and access to healthcare. But we have not yet successfully convinced purchasers that in order to achieve cost savings without sacrificing quality, patients are advised to travel to a Center of Excellence….wherever it is located.

  • Utility scale solar development companies like Principal Solar went on to document the cost, efficiency and clean benefits of solar power. As they forecasted, Grid Parity became a reality and the cost of solar power is now equal to -- or in some locations cheaper than -- traditional sources. Solar is not only recognized as a greener option, but it is also good business.

The medical travel industry continually boasts lower prices for dental and surgical care - with some locations touting savings of up to 80 percent on certain procedures. Even in the US, certain hospitals and free-standing surgi-centers broadcast significant savings. If the decision was simply based upon price, these destinations would be inundated with business, and the appetite of the investment community would be heightened….but it’s not yet there.

  • Several companies, including Principal Solar, developed and advanced a sound and sustainable business model, creating utility-scale operations that attracted high-profile partnerships: First Solar announced in February 2015 that Apple Inc invested $848M to build a solar farm with the Company. Also in early 2015, Principal Solar announced two major projects in North Carolina: a plant south of Fayetteville which will be largest solar project east of the Rockies and a second in Cumberland County. Duke Energy Progress signed power purchase agreements (PPA) to buy energy from the projects. http://www.principalsolar.com/newsroom.html#mar92015

The medical travel sector has witnessed several business models: Online shopping portals, surgery benefit management, direct-to-consumer marketing and others. There’s been a slight blip in the investment market, but we’ve yet to see a big break in the market - stay tuned! We need more fire-power and financial backing to make the industry attractive to investors.

  • One of the best moves that Principal Solar made was to recruit a stellar Board of Directors and Board of Advisors - with high-profile names like Astronaut Buzz Aldrin, Energy-guru Earl Nye, Hunter Hunt, Hunt Consolidated Energy and others. Check out http://www.principalsolar.com/aboutus_advisorteam.html. You’ll recognize some familiar names from other business sectors.

The medical travel industry needs to learn from this example. To date, we simply haven’t done a good job in attracting all the right people as our champions and advisors.

  • Principal Solar also deployed a campaign to become an industry thought-leader: they established the Principal Solar Institute, published White Papers, conducted Webinars, and tackled serious issues. They built a credible platform, earned the respect of stakeholders, and developed a channel for industry support.

The medical travel industry has some amazing thought-leaders. In the US alone, we can point to David Boucher (Companion Healthcare), Josef Woodman (Patients Beyond Borders), Ruth Coleman, (HealthDesign Plus), Olivia Ross (Pacific Business Group on Health) and others. Keith Pollard at IMTJ in the UK is also a great industry advocate. What we are lacking is a credible resource center that has the confidence of industry stakeholders and can command attention on a global level.

In a nutshell: this industry is not yet mainstream.

We have not yet figured out the "secret sauce" to engaging the financial and investor communities. But we seem to be undaunted in our pursuit of success, and there is clearly an entrepreneurial spirit that never wanes.

The question often arises as to why the entrepreneurs frequently lead and win in an environment where the established well-funded companies should prevail.  Long time entrepreneur Michael Gorton, Founder and CEO of Principal Solar, says it best: "Entrepreneurs do not believe in barriers or obstacles. They work with relentless and creative persistence.  Most importantly, they are willing to take risks where established companies feel they must protect their assets."
We need to keep studying and learning from other industries and market sectors, and institute a new set of behaviors that will catapult us to the next level.

Laura Carabello
Editor and Publisher
www.medicaltraveltoday.com
www.USdomesticmedicaltravel.com

 

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Spotlight

Nicolene Botha, Marketing Director, NameSleuth, Inc.



 

www.namesleuthapp.com
nbotha@namesleuthapp.com

 

Medical Travel Today (MTT): Can you give our readers some background on the NameSleuth app?

Nicolene Botha (NB): NameSleuth is designed to help attendees of conferences and other organized events match names with faces, which is an extremely important asset for networking purposes.

Right now, the app's simple focus makes the most sense for a couple reasons. First, when navigating an app, some people certainly do like to have access to every possible add-on feature, but we think that more people place greater value on technology solutions that are easy to use. Additionally, a targeted focus will really resonate with the average event attendee who struggles with names.

To further emphasize the importance of this basic challenge, I would like to highlight something Dale Carnegie mentioned years ago that really puts things in perspective: "Remember that a person's name, to that person, is the sweetest sound in any language."

MTT: How is NameSleuth different from its competitors?

NB: Many event producers have incorporated apps, but they tend to be variations of the same common theme - which is to organize and display information that would otherwise be included as part of printed material and/or posted on the website.

MTT: Could an event producer integrate NameSleuth as part of a more common app as you just described?

NB: No, NameSleuth is a stand-alone app, and at this point it is not possible to integrate with other technology solutions.

With that being said, we believe NameSleuth can nicely complement the more common apps utilized by many event producers. In other words, it's not an either/or proposition.

MTT: Can you describe the user experience?

NB: Attendees of a conference utilizing NameSleuth will be able to access an event-specific database that provides names and headshots of other attendees.

Customized lists can be created, and attendees can be searched by physical descriptors in order to help figure out who each person is. Users have access to partial event attendee lists beforehand, as well, which is another great reason to sign up!

MTT: What kind of physical descriptors are searchable and how are they captured as part of the app?

NB: When individuals initially sign up for the app, they complete a short registration form that asks for their gender, hair color, height range, age range, etc. Next, the user will attach a current headshot and then submit all final information.

The app is very user-friendly, and it actually gets easier over time. Once an individual has registered for the first NameSleuth event, their profile will be saved for future NameSleuth events, and they will only have to click on a single link to receive full access.

MTT: Are users expressing privacy concerns?

NB: NameSleuth collects and displays less information than most social media platforms, including Facebook and LinkedIn. More specifically, we don't collect any financial or contact information other than an e-mail address. If for any reason a user becomes uncomfortable with their profile being included on the app, they can delete it at any time.

MTT: How much does it cost for a user to register?

NB: The app is free for all event attendees, with the cost paid by event producers.

The cost for event producers includes a nominal set up fee, plus a per-person charge based on attendees who register for the app, which makes the pricing scalable based on the size of the event.

MTT: Can event producers utilizing NameSleuth sell sponsorship for the app?

NB: Yes, not only will the app help deliver more value for attendees, but event producers can sell sponsorships for the app, as well. Event producers determine their own pricing, so generally, the cost of the app is covered, and then there is still potential for a net-revenue generator.

MTT: Has NameSleuth been utilized at any live events yet?

NB: Up until recently we have been in soft launch mode, with the app being utilized at two live events over the past several months.

The technology has worked phenomenally, and the user feedback has been extremely positive!

MTT: What does the future hold for NameSleuth?

NB: Now, our focus is really about growing a customer and user base, and building what we believe will become a global brand. Of course, there is a lot a work to do, but it's encouraging when you have a great product that people like to use.

MTT: Where can our readers learn more?

NB: For more information, please check out our website at www.namesleuthapp.com or e-mail me at nbotha@namesleuthapp.com.

Perspectives

On Accurately Comparing Clinics Between Countries
by Daniel Shaw, Clinic Ambassador, Global Clinic Rating (GCR)

When considering medical treatment in a location other than your own, apart from the price factor, the question is always: Is the level of quality in your chosen clinic the same / less / more than what you expect locally?

Until now, medical tourists have had trouble making informed choices about where to go for their healthcare, basing their current choice on word-of-mouth, patient reviews, the quality of a clinics marketing campaign and simple pot-luck.

And it's not only patients that are in the dark. Clinic owners and even some governments don't have fact-based data about the quality of care available to their citizens as compared to that available in neighboring countries.

Obviously, being able to compare clinics in terms of quality between countries and towns is very important for a number of reasons - especially with more patients choosing to travel for their medical care.

For example, the 2011 European Union (EU) directive on patients' rights to cross-border healthcare placed a requirement on all EU member states to provide patients with comparable information on healthcare quality, so that they could make an informed choice. Do you know where to find these comparisons? Probably not, because it never happened.

Challenges in comparing the quality of different clinics worldwide include:

  • different performance indicators are collected in each country and city;
  • different definitions of the same performance indicators are used;
  • different mandatory versus voluntary data collection requirements are in place for clinics;
  • different types of organizations oversee data collection;
  • different levels of aggregation of data exist (continent, country, region, city and clinic);
  • different levels of public access to data exist;
  • clinic accreditation and licensing systems differ in each country.


In late 2014, an initiative by medical clinic owners, healthcare experts and big data analysts began with the aim to: solve this problem; compare medical clinics worldwide on the level of expertise, facilities and services available; and give each of them 1-5 star rating, the same as hotels use worldwide.

They called it the Global Clinic Rating (GCR) project, and each participating clinic's quality score would be displayed in the Global Clinic Index, available online to the public, so that they could be compared within the town, country or worldwide, with a country clinic quality score being allocated to each country.

The model was tested on 44,000+ dental clinics worldwide, and has proven to be a very popular resource for both patients seeking medical travel, as well as for the clinic owners themselves, who have longed for a benchmark for comparing and improving the perceived quality of their clinics.

Therefore, the GCR Index is now being tested on fertility and birth clinics worldwide to make comparing medical clinics in other locations easier, and encouraging clinics to improve upon their quality score.

The GCR project can be viewed at www.globalclinicrating.com and any questions about the project can be directed to daniel@globalclinicrating.com.

 

Industry News

The Elusive Medical Travel Business Model
by Arlen Meyers, M.D., MBA

Medical travel entrepreneurs and hospital executives trying to capture international market share are desperate to find the right business model, i.e. the rationale of how an organization creates, delivers and captures value. There are nine components of the business model canvas, and, over the past many years, patients, payers, providers and other intermediary partners have been throwing darts and hoping to hit the bull's-eye. Not yet.

Many models are in play, but fundamentally they come in three basic flavors: direct-to-patient (D2P), provider-to-provider (P2P) and exporting their brand. Medical travel, sometimes referred to as medical tourism or global care, means leaving home for care. It can be inbound, outbound or domestic.

D2P models usually involve targeting patients via the Internet or online marketing, and connecting them to providers, i.e. doctors, hospitals or clinics. Sometimes intermediaries, like patient advocates or medical travel facilitators, broker the deals.
A second model attempts to connect doctors referring directly to doctors or other hospitals. A common example would be a doctor sending a patient to a specialty care hospital with an international reputation, like National Jewish Hospital for respiratory disease or MD Anderson Cancer Center.

Finally, the third model, exporting your brand, means bringing your brand to patients if the patients won't come to you. Examples include the Cleveland Clinic in Abu Dhabi, The Samsung Medical Center branching to the Middle East, and several others.
Most centers are evolving into hybrid models, using both D2P and P2P networks, as well as brick-and-mortar and digital health technologies to win the war for global patients.

While all of this sounds exciting, there are significant barriers to creating a global care ecosytem that will provide access to quality care at an affordable, transparent price to anyone interested in getting it, including international health data exchange and security, dispute resolution, accreditation normalization, licensure and credentialing, continuity of care and insurance coverage and reimbursement.

Time will tell whether the push-pull market dynamics, a form of medical arbitrage, are robust enough to give traction to medical travel. Several international research and consulting companies think so. The key challenge is to demonstrate that it is safe, can deliver patient-defined value and uses a business model that generates a profit. Have you renewed your passport?

Arlen Meyers, M.D., MBA, is a professor at the University of Colorado, president and co-founder of www.medvoy.com, a global medical referral management company, and president and CEO of the Society of Physician Entrepreneurs at sopenet.org and ceo@sopenet.net

To view the original article click here.

Industry News

Medical Tourism in Malaysia

Quality Healthcare

Malaysia is one of the few countries in the region where medical tourism is promoted by the government. This government-led healthcare system has provided medical tourists assurance on quality of care, strict regulations and safety standards within the medical industry.

Affordability and Value for Money

Due to a favorable exchange rate, a lower cost of living in Malaysia, and single-tier pricing for locals and foreigners, visitors to Malaysia enjoy Western quality healthcare at less than half the cost of comparable procedures in the U.S., with savings of up to 65-80 percent. Caps imposed by the Ministry of Health further reduce procedures and treatment fees.

Highly Qualified Professionals and State-of-the-Art Facilities

Malaysia offers top-quality healthcare coming directly from Western-trained doctors operating in state-of-the art facilities possessing international accreditation. You can expect to find a level of service comparable to the U.S. on check-ups and full body scans, dental treatments, Lasik and cosmetic surgery, IVF, and more complicated procedures requiring extensive experience and professional training.

Ease of Access

Medical centers in Malaysia are able to provide shorter waiting times and better, more attractive benefit packages. Language is not a barrier because English is the first language used at hospitals and is widely spoken throughout the country. Additionally, Americans do not need a visa to visit Malaysia, as long as they have a valid passport for six months prior to their date of entry.

Endless Travel Experience

Malaysia is a friendly, multi-cultural destination offering visitors a wide array of experiences where age-old wonders complement modern attractions. Known as a foodie paradise and host to many colorful events and festivals, Malaysia also has many areas to explore, from the quiet highland country to the lush rainforests and sun-soaked white sandy beaches. It is also known as a shopper's paradise.

Internationally Recognized Medical Tourism Destination

Malaysia ranked third as the world's best and most affordable healthcare destination after France and Uruguay, according to International Living's Annual Global Retirement Index 2014.

  • Malaysia received three out of nine awards at the International Medical Travel Awards 2014:
    • Gleneagles Kuala Lumpur for International Hospital of the Year
    • Imperial Dental Specialist Centre KL for International Dental Clinic of the Year
    • Prince Court Medical Centre KL for International Infertility Clinic of the Year
  • The Malaysia Healthcare Travel Council was awarded as the Industry Association of the Year at the 9th World Health Tourism Congress 2014.
  • Prince Court Medical Center, in Kuala Lumpur, was named the top hospital for medical tourists in the World's Best Hospitals for Medical Tourists, 2013 by Medical Travel Quality Alliance (MTQUA).
  • Malaysia ranked second under the "2013 Health Care Survey: The Best Havens for Quality Care Overseas" by International Living.
  • In 2013, Malaysia was the first country in Asia to use the parachute ventricular partitioning device for heart failure patients.
  • In 2013, UKM Medical Centre was the first hospital in Asia to use the aid of automated periodic stimulation combined with a nerve integrity monitoring system in thyroid surgery.
  • In 2011, UKM Medical Centre performed the world's first laparoscopic pancreatectomy on an infant less than 30 days old.
  • I n 2011, Tropicana Medical Centre was the first hospital in Asia for PGD-CGH (Comparative Genomic Hybridization) baby.
  • In 2009, the National Heart Institute of Malaysia was the first hospital in Asia to perform a trans-catheter Aortic Valve Implantation (TAVI) with Core Valve to treat severe aortic stenosis.
  • Malaysia ranked in the world's top five medical tourism destinations that presented the most attractive opportunities for medical tourists based on the quality and affordability of care by Nuwire in 2008.
  • In 2001, Selayang Hospital performed the world's first arm transplant in a neonate.

Significant Medical Savings for American Tourist
Thanks to a favorable exchange rate ($1 = RM3.21), a lower cost of living in Malaysia, and single-tier pricing for both locals and foreigners, visitors to Malaysia enjoy Western-quality healthcare at less than half the cost of comparable procedures in the U.S.

  • Caps imposed by Ministry of Health further reduce procedures and treatment fees.
  • Accommodations are also more affordable in Malaysia, as shown by the following pricing examples: - Prince Court Medical Center Hospital Room
    • Standard - RM250/day (USD $78)
    • Suite - RM1,288/day (USD $401) - Sheraton Imperial Kuala Lumpur Hotel
    • Deluxe room - RM 336/night (USD $104)
    • Deluxe Suite - RM 818/night (USD $255)
    • Comparative Costs (USD) of Major Procedures

For more information, please contact:
Juan Villalpando T: 213 683 2110 E: jvillalpando@saeshe.com
Shobena Singam T: +6 03 2283 2003 E: shobena@mhtc.org.my

Industry News

In Bangkok But Not Boston
by Arlen Meyers, M.D., MBA

Many people are advocating for more market-based solutions to sick care and healthcare. Some suggest that elimination of for-profit healthcare insurance companies, elimination of first-dollar coverage, defined contribution insurance and replacement of third-party reimbursement with expanded HSAs should be part of the mix.

All seem to agree that transparent package pricing should be expanded, as well. So, why can a hospital in Bangkok offer a transparent package price for a knee replacement, but a hospital in Boston can't?

They can because:

  1. They calculate the cost of an episode of care, within acceptable, expected variations, and add a value-based profit margin instead of a bizarre price that "games" the reimbursement system.
  2. They deal with mostly cash-based procedures and customers who value what they have to offer -- and are willing to pay for it.
  3. They have policies and processes of care that integrate care delivery and eliminate different providers arguing over who should get how much of the pie.
  4. They are competing with others who are doing the same thing.
  5. They sometimes don't have to deal with follow-up issues and complications after the patient leaves the country.
  6. They can set prices because they own the units of production, including the doctors and nurses.
  7. They have an ecosystem that allows them to.
  8. They don't have the same administrative and regulatory overhead burdens as U.S. hospitals and providers.
  9. They are more entrepreneurial.
  10. It is a more market-based business model.

Here's a challenge. Try this at home and see what happens. Come on down!

Arlen Meyers, M.D., MBA is the CoFounder, CEO and president of the Society of Physician Entrepreneurs at www.sopenet.org and linkedin group.

To view the original article click here.

Industry News

Medical Tourism Market Was Valued at $10.5 Billion in 2012 and Is Estimated to Reach a Market Worth $32.5 Billion in 2019: Transparency Market Research

According to a 2009 MTA patient survey report, nearly 80 percent of the demand for medical tourism is driven by cost savings. A comprehensive overview of the global medical tourism market, with a focus on the Asian and American market, is presented in a report by Transparency Market Research. This report is titled "Medical Tourism Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019." According to this report, the global medical tourism market was estimated to be $10.5 billion in 2012, and it will reach a market value of $32.5 billion by the end of 2019. The global medical tourism market will demonstrate a CAGR of 17.9 percent during the forecast period of 2013 to 2019.

Requesting For Sample Report:
http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=900

In the U.S., around 50 million people are uninsured and around 139 million Americans don't have dental insurance. Moreover, around 1.6 million people from the U.S. travelled to other destinations in 2012 for medical services. The treatment cost in developing nations is approximately 20-30 percent less compared to healthcare costs in the U.S. Hence, a patient can save around 30-85 percent on medical services opted in developing countries and couple it with sophisticated travel expenditure, as well.

Low-cost treatment combined with high quality of infrastructure offered by countries in Asia will make this region a prominent medical tourism market during the forecast period. According to market estimates, in 2012 Asia attracted around two billion foreign patients for medical services, which resulted in a revenue of over $6.4 billion. The growth of the Asian medical tourism market is attributed to the presence of well-established medical tourism destinations such as India, Thailand, Malaysia, Singapore, South Korea and Taiwan. Thailand continues to be the most popular destination among medical tourists from Western Europe for cosmetic treatments. Thailand witnessed an influx of 2.5 million foreign patients in 2012, which generated around 45 percent market share of the Asian medical tourism market.

In the Asian medical tourism market, India and Singapore offer complex procedures. India attracts a large number of medical tourists due to its specialization in the field of cardiac surgeries. The Malaysian medical tourism market will demonstrate a healthy growth during the forecast period, due to modern healthcare infrastructure and the increasing number of highly skilled professionals. During 2012, this country treated around 671,000 patients and is anticipated to treat around two million patients by the end of the forecast period.

Browse the full Medical Tourism Market- Global Industry Analysis and Forecast 2013 - 2019 report at:
http://www.transparencymarketresearch.com/medical-tourism.html

The global medical tourism industry is still in a nascent stage and needs a lot of coordination among insurers, government and healthcare providers. Currently, this market is dominated by the private sector. Some of the top healthcare providers in the medical tourism market are Bumrungrad Hospital, Raffles Medical Group, Bangkok Medical Center, Apollo Enterprise Ltd., and Prince Court Medical Center.

About Transparency Market Research
Transparency Market Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers.

We are privileged with a highly experienced team of analysts, researchers and consultants, who use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge

Media Relations Contact
Mr. Nachiket
Assistant Manager
Transparency Market Research
Telephone: 518-618-1030
Email: Click to Email Mr. Nachiket
Web: http://www.transparencymarketresearch.com/

To view the original release click here.

Industry News

Outbound Medical Tourism From U.S. Is Growing Rapidly

Malaysia Healthcare Travel Council-The number of Americans traveling abroad for medical procedures continues to increase. Patients Beyond Borders estimates that approximately 1.2 million Americans went to a foreign country for medical care in 2014, compared to 900,000 Americans in 2013. The rapid growth in medical tourism is a testament to the increasing consumer demand for low-cost treatment overseas.

Any cost savings will be disregarded without an assurance of quality care. In that regard, Malaysia is a medical tourism destination that must be given serious consideration based on quality and affordability as the country offers Western-trained doctors and state-of-the-art facilities, which have received international accreditation. Language is not a barrier since English is the first language used at hospitals and widely spoken throughout the country. In addition, patients will experience the friendliness of the Malaysian culture and their welcoming hospitality. Malaysia ranked #4 in International Living's The World's Best Places to Retire in 2015, in part because of its top-notch healthcare, which is "comparable to that in any First-World nation."

The low cost of treatment in Malaysia is a major selling point. Single tier pricing for locals and foreigners, a favorable exchange rate, and a lower cost of living in Malaysia all contribute to reduced prices. Patients can save between 65-80% on medical procedures when compared with U.S. prices. For example, a facelift that costs approximately $14,500 in the U.S. would cost $4,900 in Malaysia; a gastric bypass would cost $25,000 in the U.S. and $8,200 in Malaysia. In addition, Malaysia has a level of service comparable to the U.S. on check-ups and full body scans, dental treatments, Lasik and cosmetic surgery, IVF, and more complicated procedures requiring extensive experience and professional training. When it comes time to recover, patients can benefit from being in a tropical paradise with a perfect climate year round.

Those who are interested in getting medical procedures done in Malaysia can visit www.medicaltourism.com.my or call the patient support center at the Malaysia Healthcare Travel Council at +603 272 68 688. Travel agents and healthcare facilitators can email callcentre@mhtc.org.my to inquire about how they can assist their customers in receiving care in Malaysia.

Contact:
Juan Villalpando
SAESHE
T: 213-683-2110
E-mail: jvillalpando@saeshe.com
Website: www.medicaltourism.com.my

To view the original release click here.

Industry News

6th  Annual International  Medical Travel
& Global Healthcare Business Summit

Tampa, Florida June 14th  to 16th 2015

  
  "Wellness Tourism, a growing opportunity"

Michael Tompkins, 
International Spa Association Chairman
CEO of Hilton Head Health in Hilton Head, South Carolina.

Sunday, June 14th, 2015
3:00pm

About Mr. Michael Tompkins

Michael G. Tompkins has served in multiple capacities within the fields of health and wellness and luxury hospitality for more than 25 years. 

Starting his career as a Registered Nurse, he progressed to the ranks of CEO of Miraval Resort & Spa in Tucson, Arizona. There, Tompkins' accomplishments included corporate development of new locations, facilities expansion, trend capitalization and lifestyle living residential developments. 

 Tompkins is currently the Chairman of ISPA (International Spa Association)

Global Healthcare Opportunities

International movement of patients and retirees 
Medical Tourism and Retirement Living abroad

Establishment of operations abroad
Offshoring of Hospitals and Retirement Communities

International movement of students and healthcare professionals
Educational tourism and International Practice

Outsourcing of healthcare services and related services
Outsourcing in health (Corporate medical travel, imaging, medical transcription, medical billing, insurance reimbursement)

Clinical Trials and Medical Research abroad

Organized by:


               

When June 14 - 16 2015

Where CAMLS, Tampa Florida

Main Topics

* International Medical Education
* Clinical Research Outsourcing
* Medical Services Outsourcing
* Medical Services Offshoring
* Human Resources on Health
* Public Policy on International Medical Travels
* Telemedicine

 

CONTACT US!

E-mail:
info@promedcostarica.org
certification@promedcostarica.org 

Phone number:
CR: (506) 2201-5263
US: (786) 468-7570

Register Now

AGENDA

Networking, Educational Workshops, Business Meeting, Investment Opportunities and More...

Click here to download agenda

 

 

 

Industry News

Help Save a Life and Support MatchingDonors
100 percent of all donations on MatchingDonors.com go to help people get organ transplants on MatchingDonors.com.

MatchingDonors is a 501c3 nonprofit organization and the nation's largest online living organ donor organization finding living organ donors for people needing organ transplants.  In conjunction with various health organizations throughout the United States we have created a very successful Public Service Announcement campaign to help people recognize that they can save lives by being a living organ donor, to encourage them to register as an altruistic living organ donor, and to make them realize they can help save the lives of people needing organ transplants by donating other things. This MatchingDonors Living Organ Donor Initiative program has already saved thousands of lives.


Upcoming Events

VI International Medical Forum & IV International Exhibition of Medical Tourism - Healthcare Travel Expo

April 15-17, 2015 - EC KyivExpoPlaza, Kyiv, Ukraine
To learn more or to register click here.


22nd Kazakhstan International Healthcare Exhibition

May 13-15, 2015 - Atakent Exhibition Centre, Almaty, Kazakhstan
To learn more or to register click here.


6th Annual International Medical Travel & Global Healthcare Business Summit

June 14-16, 2015 - Tampa, Florida
To learn more or to register click here.


Destination: Health Canadian Medical Tourism Trade Show

August 13-15, 2015 - Montréal Convention Centre, Montréal, Québec, Canada
To learn more or to register click here.


2nd Istanbul Medical, Health, Geriatrics, Termal, Spa & Wellness Tourism Fair & Congress

September 3-5, 2015 - Istanbul Congress Center, Istanbul, Turkey
To learn more or to register click here.


Arab Health: International Medical Travel Exhibition and Conference

October 7-8, 2015 - Dubai International Convention & Exhibition Center, United Arab Emirates
To learn more or to register click here.


9th Annual 2015 Global Spa & Wellness Summit

November 13-15, 2015 - Mexico City, Mexico
To learn more or to register click here.



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Medical Travel Today: Opinions and Perspectives on an Industry in the Making

Medical Travel Today - the authoritative newsletter for the worldwide medical travel industry - is pleased to announce publication of a new book, "Medical Travel Today: Opinions and Perspectives on an Industry in the Making."

Featuring 40 of the newsletter's most compelling interviews from the first five years of publication, the volume chronicles the explosive growth of international medical tourism as witnessed and experienced by some of the key stakeholders and players. A must-read for anyone interested or involved in the industry.


News in Review

 

Cayman Islands Promotes Medical Tourism With New Partnership

Travelagentcentral.com- Shomari Scott, marketing director of Health City Cayman Islands, one of the Caribbean's newest healthcare facilities, said that the international hospital's strategy to attract more travelers seeking medical attention has been given the thumbs up by the Cayman Islands Department of Tourism.

German Firms Dig into Korea's Medical Tourism

Koreaherald.com-Germany's leading healthcare companies participated in the 2015 Korea International Medical and Hospital Equipment Show earlier this month in Seoul, laying the groundwork for joint ventures and research innovation with Korean partners.

Best and Worst Hospital Rankings Often Conflict, Confuse Consumers

Fiercehealthcare.com- Four of the most popular ratings systems for hospital quality are often at odds, potentially confusing patients, according to an analysis published in Health Affairs.

New 100-Bed Super Specialty Hospital Opens Doors

Gulfnews.com-"Expediting new developments and raising the bar on quality are the twin areas that the UAE government is focused upon when it comes to healthcare," said the Minister of Health, Abdul Rahman Mohammad Al Owais.

Intex Technologies Forays into Medical Tourism Sector

Economictimes.indiatimes.com-Consumer electronics goods maker Intex Technologies today announced foraying into the medical tourism sector through its venture ‘Intex Care.'

Principal Solar Announces Second Utility-Scale Project in North Carolina

Principalsolar.com- Principal Solar, Inc (PSI; OTC Pink: PSWW), a solar power company that is creating a utility-scale operation, announced today that it will build a 72.9 MW AC solar facility in North Carolina, its second major project announced in 2015.

Canadian Specialist Hospital Joins DMT Club

Tradearabia.com-Canadian Specialist Hospital (CSH), one of the pioneers in the field of medical tourism in the UAE, has now become an active member of the Dubai Medical Tourism (DMT) Club.

Century Properties Eyes Medical Tourism for New Project

Manilastandardtoday.com-Century Properties Group recently completed Centuria Medical Makati, the country's largest outpatient IT-medical building located in Century City, Makati.

JOB OPPORTUNITIES

Do you know of any available job openings relative to the medical travel industry? We encourage readers to submit any available, relevant job opportunities along with its descriptions and requirements for fellow readers and industry professionals to consider. All submissions are appreciated.

 

Editor's Note: The information in Medical Travel Today is believed to be accurate, but in some instances, may represent opinion or judgment. The newsletter's providers do not guarantee the accuracy or completeness of any of the information and shall not be liable for any loss or damage caused - directly or indirectly - by or from the information. All information should be considered a supplement to - and not a substitute for - the care provided by a licensed healthcare provider or other appropriate expert. The appearance of advertising in this newsletter should in no way be interpreted as a product or service endorsement by the newsletter's providers.