Medical tourism, as it stands today, is an emerging phenomenon wherein citizens, in most cases of industrialized nations, bypass services offered in their own communities and travel to other destinations many of which are less developed countries seeking high quality medical care at affordable prices.
Starting a service to facilitate this kind of travel is a viable business idea, but you must develop a clear concept of what you will be offering.
As a medical tourism facilitator, you have to offer advice and make suggestions based on your research and knowledge of the foreign facilities. You typically arrange for individualized care and may have the patient escorted, if he desires. You negotiate the rates and arrange for payment.
The success of your business depends in part on how seamless your arrangements are in relieving the patient of the need to worry about how the process works. Needs Americans who face high costs for plastic surgery, dental care or medical procedures not covered -- or covered enough -- by their health insurance may be interested in high quality care available at a fraction of the price in foreign countries.
They need a facilitator who will present them with the various options for their problem and, once they have made their choice, arrange for the travel, documentation and medical treatment.
Patients will want to deal with someone who is reliable, knowledgeable and supportive. Requirements While it is a valid idea for a business, a medical tourism facilitator has to make a substantial investment in time and money before signing up patients. You need to decide which foreign facilities you will use to visit them to negotiate contracts specifying services and costs.
If you have no medical training, you may have to hire a medical professional to help you evaluate foreign services. Marketing Your marketing has to establish your medical service credibility and present a competent image.
While you have to offer substantial savings to draw in customers, the demonstrated quality of the medical services you are offering are important as well. For example, if you offer dental implants in Mexico for residents of American border states, you have to present details of the facilities, references from satisfied clients and the credentials of the dentists who will carry out the work.
Because foreign facilities deliver services at reduced rates, you can afford to spend money on a high level of patient support and service, offer substantial savings and still ensure profitability.Travel and tourism is a fun and rewarding industry. Starting with a good business plan will help you succeed in this exciting field.
To get started, check out a sample business plan for an upscale travel agency, international travel agency, sightseeing tours business, and other travel related business.
2 SUMMARY 1. The global growth in the flow of patients and health professionals as well as medical technology, capital funding and regulatory regimes across national borders has given rise to .
How to Write a Business Plan for a Subscription Box Service if you just want to see what a completed business plan looks like, check out our library of over free sample business plans.
3 rules for writing a business plan: For example, if you are producing a medical device, you will have milestones associated with clinical testing. At the Medical Travel Quality Alliance, we get many emails asking about business models for medical tourism agencies.
There are several business models for a medical tourism company or facilitator seen around the world, from enhanced travel agent at one . MTA Marketing Services program. As increasing numbers of patients and companies turn to medical tourism, it has become more important than ever for hospitals and medical tourism facilitators to develop a sound business strategy and marketing plan to tap into this growing market.
A business plan is the action plan, identifying the tasks, milestones, and goals, but also identifying the potential for success and the potential risks ahead, given the nonprofit’s “competitive advantages” and the environment in which it operates.