Marketing Health Optimizing sales & marketing yield

One key aspect to attracting major investments to hospitals and diagnostics in India will be an increase in the number of patients from the U.S. and other countries who are outsourced for treatment due to cost reductions for payors, such as Blue Cross/Blue Shield.

As a marketing and business development professional with over 16 years experience in the U.S. health care industry, I have seen first-hand the correlation between rising patient care costs in this country benchmarked with both a decline in quality of care and available health care practitioners (doctors, nurses, etc.).

Even on the administrative and support services areas (my area of expertise), I have seen a number of highly competent and qualified individuals either be down-sized from the industry or decide to leave for different industry sectors as they feel the U.S. has not sufficiently invested in our health care infrastructure.  And yet, our health care and insurance premiums have continued to rise exponentially.

Until the higher costs in this county are reconciled with better service delivery standards, which would take some time to accomplish, I believe there is a great business opportunity for India and other countries to develop a health care service model that would attract patients from the U.S.

http://www.aarp.org/health/insurance/articles/outsourcing_medical.html

http://www.businessweek.com/magazine/content/08_12/b4076036777780.htm

http://www.time.com/time/magazine/article/0,9171,1196429,00.html

Very well said Sherry. Thanks for the links.

In my next article, this is one section that will be area of exploration.

It is important that a business should be able sustain itself in the home country first. This article shows that the demand in the country (India) itself is high enough to sustain a great growth.

To add to this, there is an immense opportunity of what you mentioned in your write-up. It is commonly called as "Medical tourism" . (I hate this terminology!    ) . This makes the investment opportunity in healthcare delivery infrastructure much more attractive. No country in "emerging economies" bracket can afford to ignore it.  

Indian government has also been proactive in encouraging prospects in this sector with a number of initiatives in medical tourism for instance Medical Visa ('M'-Visa) has been introduced which can be given for a specific purpose to foreign tourists coming into India. Consequently, easy access to visa facilities coupled with the best emerging medical infrastructure in large and tertiary towns will lead to an increase in foreign exchange earning through medical tourism. Annual earnings from medical tourism are estimated to rise from the current US$815.32m to US$1.87 billion by 2012.

Sherry, do you know of any health insurance that covers the treatment in foreign country?  This will help patients in the United states.

Mark

Mark,

Blue Cross/Blue Shield does.  The are based in most of each state in the United States.  Also, one of the articles I shared mentioned United Health Group, which a third party that makes arrangements for foreign treatments of US citizens.  Hope that helps!

Sherry

Mark,

There are approximatel 3 companies providing limiting after care coverage currently.  I sold Health Insurance a number of years ago and am acutely aware of reading between the lines.  The best policy that is out there now which just launched provides 150K of after care for complications for up to 6 months after the procedure has been delivered.

Sherry,

I concur with your viewpoints.  I have worked on almost all sides of Healthcare for the last 17 years.  The world is becoming flat and technology will level the playing field as more International Hospitals receive their International JACHO Certifications.  Next week I am launching a site that has tracked Medical Tourism and will be assisting International Providers in getting to their target audience www.medicaltourismnewswire.com

Even if we go to to a Universal Model in the states to provide open access to healthcare to everyone there is still a tremendous Primary Care Doc shortage as well as a nurse shortage.  Outside of escalating costs that is the real problem that we are faced with.

Arthur,

Yes, the nursing and primary care physician shortage is also a factor in our domestic health care service delivery.  Also, shortages of rehabilitation therapists and pharmacists (especially those providing consulting services to reduce med error rates and provide recommendations for reducing medication costs) will have an increasing impact.  Factor in physicians who are opting out of Medicare, then you only have a situation that will continue to escalate until appropriately addressed.  Unfortunately, that will take a huge initiative and investment at a time when funds are limited.

Sherry

India is providing cheap medical care to rich at the cost of its poor population residing in villages

Dr R P Pareek, MD

Pilani

Though this may sound as a remote thought, but very much doable. If there can be some kind of regulatory body, that allows consultants to enrol and practise over telemedicine then it can address the immediate need of primary consultancy for the many. I often come accross unofficial sites offering consultancy online but I guess they are not authorised to do so.......

Any comments?

Hey Arthur, www.medicaltourismnewswire.com is pretty informative. This will be a handy site for thoe who have a stake in this business.