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KPMG-FICCI Medical Value Travel in India

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KPMG-FICCI Medical Value Travel in India Medical value travel in India FICCI Heal Conference kpmg.com/in Contents 1. At the outset 07 2. Assessing medical value travel as an opportunity 09 3. Assessing India‘s capability as a valuable medical travel destination 17 4. Assessing competition within the Asian cluster 33 5. Recommendations 37 6. Appendix 47 1 | Medical value travel in India Foreword Medical value travel is the term that has However, with the advent of private been chosen to refer to the practice or hospitals and the evolution of the trend of patients seeking healthcare industry as a whole, even public sector beyond borders. The operative word facilities like AIIMS and JIPMER are here being ‘value’ since a patient seeks equipped with world class infrastructure value when they choose to undertake and capabilities to carry out the most travel for healthcare. The term value is complex surgeries. The role of the also of importance in this context since Government in this trajectory has been the practice of medical tourism adds and monumental. Government initiatives generates value for the country under have propelled the sector and today consideration. India can boast of the capabilities in The medical tourism industry has the field of robotic surgeries and other witnessed a steady growth in the recent advanced medical procedures. years globally. As the world population The growth of medical tourism in becomes more aware of healthcare India has not only generated value options and as quality healthcare rises for the economy but also led to the as a priority in the minds of the majority advancement of medical science, ages, patients are bound to pursue cross development of medical infrastructure border healthcare. The primary reasons and retention of skilled manpower. for medical tourism therefore are high This report aims to highlight medical quality healthcare, specialised treatment Dr. A Didar Singh tourism as a viable value proposition in options, immediate service opportunity India. It provides a comparative analysis Secretary General for travel coupled with affordability. FICCI of the industry in India vis-à-vis countries Reasons for medical travel differ for like Thailand, Singapore, Malaysia countries. In regions where quality etc. It further enunciates the need for healthcare is unavailable, accessing concerted efforts from all stakeholders healthcare may lead to medical travel, in the government, industry, policy for others, cost effectiveness may be a makers. The report also attempts to reason. highlight the holistic nature of the India has emerged as one of the most segment and the role of multiple sectors sought after destination for medical in the proposition. tourists across the globe owing to This report will be a good reference its high value proposition in terms of point for the discussion on medical value quality healthcare, pool of specialists travel and FICCI intends for the report and availability of alternate treatment to be a successful thought starter in the options such as ayurveda and yoga process. Traditionally the healthcare infrastructure in India struggled to cater to the domestic needs because of the deficit in infrastructure and technical manpower. Medical value travel in India | 2 Foreword As healthcare struggles with the builds India’s credibility and visibility dimensions of cost, quality, and access; globally can only lead to economic across the globe, developed health traction, a scenario that will eventually systems are increasingly looking to the benefit the domestic industry and help state exchequer to save costs while propel its growth. managing social expectations. India Another important consideration in this looks foreward to building its own regard is the involvement of numerous distinct proposition that can not only other sectors that can help build benefit its own populace, but also add medical travel as a proposition. Be it the value to its economy. hospitality sector, tourism, transport Healthcare in India, has evolved and logistics, aviation, and of course considerably over the last decade. healthcare delivery. Medical tourism Not only is it the fifth-largest employer leverages value from these sectors, and among all sectors today, but it has thus help drive growth that is not just also witnessed over a billion in private restricted to one sector in isolation. venture, and inflow of equity capital The purpose of this report, therefore across numerous deals in the last year. is to capture a holistic view of medical Medical tourism as a segment has value travel as an important value emerged owing to India’s increasing proposition. We aim to assess the strength in healthcare delivery. The opportunity, India’s capability in medical tourism market is expected Amit Mookim leveraging the opportunity, and finally to expand at a CAGR of 27 per cent Partner and Head identify the hurdles that stand in India’s to reach USD3.9 billion in 2014, Healthcare path as it looks to build a strong medical from USD1.9 billion in 2011. With the KPMG in India value travel segment. The report also emergence of newer needs and with provides recommendations that may India establishing a firmer footprint as a play an important role in bridging these healthcare delivery destination, medical gaps; these recommendations are tourism is likely to gain impetus. the result of thorough analyses and One can argue on whether the country stakeholder feedback, and can go a long should prioritise medical tourism way in shaping the path of medical value as a priority given the fact that India travel in India. continues to score low on metrics of penetration, doctor and nurse density, number of hospital beds, and disease burden. However, it is imperative to see the proposition holistically before inferring that medical tourism in any way takes away from the country’s domestic progress in terms of healthcare. Any proposition that adds value, funds, and 3 | Medical value travel in India Preface Medical value travel in India | 4 Globally Medical Value travel (MVT) is a travel to conduct a background study USD 10.5 Bn industry estimated to grow and develop a framework on which a to USD 32.5 Bn over the next 5 years at multi-stakeholder Medical Value travel CAGR of 17.9 percent. The increasing Council can be created with an aim ‘to numbers of ageing and uninsured position India as the most preferred population worldwide is struggling healthcare destination’. The overall aim against the challenges of cost, quality of the Council will be to promote India and access to healthcare. as the preferred medical value travel destination and facilitate the Indian In spite of both inherent comparative Healthcare Industry to effectively and competitive advantages as a nation, position itself in the global market. India has been unable to address this market appropriately while other Asian countries such as Thailand, Singapore Specific objectives of the Council and Malaysia have been able to position • The Council will provide a platform for themselves as leading providers of its members to forge partnerships and quality healthcare. discuss best practices with the global medical tourism market through The Indian medical value travel industry events and other activities. is presently at a nascent stage, but Preface has emerged as the fastest growing • The Council will also be a focal point segment of tourism industry despite for all matters related to healthcare the global economic downturn. It is travel, to facilitate policy research evident that most of the countries, and programmes on healthcare whether USA, Turkey, Japan or smaller travel development and promotion, ones like Jordan, Croatia, Costa Rica, and serve as a one-stop centre Malaysia are extremely organised in for solutions on matters related to promoting themselves for medical healthcare travel. travel and are further organising • The Council will stimulate public- themselves in regions. However, in private sector collaboration to contrast, India is fragmented in its formulate strategic plans for the approach where individual hospitals development and promotion of have been promoting themselves as healthcare travel services, and the hospital destinations. The medical coordinate promotional activities value travel stakeholders in India need to for Indian healthcare providers and consolidate their efforts and strategise related stakeholders. While the on how to leverage the available healthcare travel industry will be opportunities. private sector-driven, the Government In this context, FICCI has set up a needs to assume an active role to Working Group on Medical Value facilitate its growth. Activities Proposed for the Council • Develop and maintain database of • Organise Events – Exhibition / value travel to be released during FICCI hospitals, clinics, wellness centres, Conference / Seminar and other HEAL scheduled on September 1 & 2, spas, Ayush companies, medical networking events in India and abroad 2014. The report addresses the MVT tourism companies, hotels and other to showcase India as the medical opportunity, discuss impediments, stakeholders of medical value travel value travel destination suggest way forward in establishing in India India as a leading healthcare destination, • Connecting all the stakeholders in a feature some of the global best • Promoting awareness for the need of retail chain to develop the complete practices and case studies, centering on showcasing India as the medical value package for medical value travel Asian countries and establish the need travel destination within India (service providers, government, for formation of a multi stakeholder MVT agents, hotels, airlines, transfer • Research on the policies that regulate Council. services, tourist attractions etc) the medical tourism industry and provide recommendations from the It was decided in the working group Industry on the legislations meeting to develop a report on medical MVT Working Group Members 1. Mr Abhay Soi, Chair- Working Group on Medical Value travel and CMD, Halcyon 2. Dr. Narottam Puri, Chairman, NABH & Advisor- Medical, Fortis Healthcare 3. Dr. Navneet Kumar, Dhamija Dy. Commissioner (Trg.) & Nodal Officer Telemedicine Ministry of Health & Family Welfare, GoI 4.
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