Hope Rekindled for Medical Tourism Industry

Posted on 16 May 2012 in Uncategorized by admin

Local promoters have talked for a decade about creating a medical tourism industry, but have little to show for it beyond talk.

Yet another panel discussion on the topic on Tuesday night gave the concept’s backers hope that tangible progress might finally be near.

“What we did was get all the right people in the room at the same time discussing it and showing interest,” said Doug Geinzer, the CEO of the Southern Nevada Medical Industry Coalition, which sponsored the event.

However, the approximately 100 medical professionals still have widely differing ideas about what will bring out-of-town patients to Las Vegas:

An extension of a big-name institution or something homegrown, a broad-based practice or individual specialties, marketing just Las Vegas or the entire state, or focusing more on Americans or foreigners.

Since becoming the dean of the University of Nevada School of Medicine in July, Dr. Thomas Schwenk noted the that the local doctors display a “certain sense of individualism and passion and a tendency to head in 20 different directions at the same time.”

Moreover, the meeting included only a handful of people from the tourism industry. In the past, they have looked at medical treatment as another avenue to fill hotel rooms and restaurants, while medical professionals view tourism as taking a back seat to their work.

Without a unified agenda, said state Sen. Valerie Wiener, D-Las Vegas, securing help from the Legislature next year would be unlikely.

One step toward medical tourism was unveiled in the form of the Las Vegas Health & Wellness Guide, co-produced by Medical Tourism Magazine and the Las Vegas Convention and Visitors Authority.

Although it carries a $15.95 price, it will largely be handed out at conventions and meetings with 21 pages of clinical listings at 65 pages of hotels and attractions.

But broadcast executive Jim Rogers noted, “Tourism cannot be most of what we are going to do. It’s got to be the quality of medicine.”

He, along with some others who have looked at the issue, believe that a comprehensive medical institution is the biggest draw. People travel to places they would otherwise shun, such as Rochester, Minn., Cleveland and Baltimore to check into the Mayo Clinic, the Cleveland Clinic and Johns Hopkins.

If a procedure or a checkup discovers something unexpected, the right specialist is close by; the patient doesn’t have to be sent to another side of a city.

Based on the infighting he saw during his five years as the chancellor of the Nevada System of Higher Education, he said,

“I have great doubts about the ability to put a system together. We don’t have any great large medical groups here and that doesn’t sell.”

The university and University Medical Center of Southern Nevada have started down the path of closer collaboration, but that will take time.

Some individual practices have said they have been able to draw patients from elsewhere, such as the local office of the Sher Institutes for Reproductive Medicine. Others have run into trouble, such as the Nevada Cancer Institute.

Once touted as a major medical tourism draw, it financially collapsed and has become a branch of the University of California, San Diego Health System.

But enough elements are in place to make the medical tourism work, Geinzer said.

“We have great health care in this town,” he said. “But we don’t do a great job of marketing it.”

http://www.lvrj.com/business/hope-rekindled-for-medical-tourism-industry-138551974.html

Medical Tourism Resource Online

Philippines Emerging Major Player in Medical Tourism Industry—Study

Posted on 15 May 2012 in Uncategorized by admin

MANILA, Philippines – The Philippines may have found its next sunrise industry in the medical tourism field.

A study titled “Philippine Medical Tourism Compendium 2011: Facts, Figures & Strategies” estimated that the country earned a total of $1.30 billion from health care and wellness services in the period of 2006 to 2010.

The study also projected that the Philippines has the potential to earn as much as $1 billion in additional annual revenue by 2018 or earlier if it would invest thoroughly on healthcare infrastructures, more open and liberal travel arrangements for medical tourists and lay down an extensive international marketing promotions campaign.

The study, conducted by healthcare business intelligence firm Healthcore, indicated that the earnings were from overseas foreign tourists and balikbayans who visited during the period of the study.

The research noted that the Philippines has a high potential to grab a larger market share in the global medical tourism industry based on the following criteria: High level of quality in healthcare;

Competitive cost of healthcare services; Large supply of competent healthcare professionals; English communication skill, and culture of compassion and service; and Geographical proximity to countries that have expensive medical services such as Guam and Micronesia, Australia, Japan, South Korea and Taiwan.

The study noted that top tertiary hospitals in the Philippines have state-of-the-art medical and hospital facilities and were staffed with highly qualified medical consultants, doctors, nurses and other personnel.

It added that at least eight hospitals and clinics were now accredited by various international accreditation agencies.

The Philippines also has a competitive edge since these world-class healthcare services generally cost lower than in most developed countries like the United States and Canada.

The Philippines, being a major source of medical professionals to the global workforce, boasts of world-class medical doctors, highly qualified nurses, therapists, and medical technicians.

The Filipinos’ high level of English communication skills, and unique culture of compassion and service – the same competitive advantage that made the country one of the top BPO providers in the world – will also help place the Philippines among the top global healthcare providers.

International research firm Deloitte, the research added, has identified the Philippines as one of the emerging players in the multi-billion dollar industry, which currently is dominated in Asia by Singapore, India, Malaysia and Thailand.

The study concluded that medical and tourism sectors and other related industry stakeholders should work together and further develop broad-ranging strategies and facilitate the implementation of programs in the field of healthcare infrastructure and service, likewise, the government should liberalize visa restriction for medical travelers and an aggressive international marketing and promotions campaign should be launched in order to catapult the Philippines in the elite circle of medical tourism providers. (advt)

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http://lifestyle.inquirer.net/33165/philippines-emerging-major-player-in-medical-tourism-industry%E2%80%94study

Medical Tourism Resource Online

Stem Cell Banking: The Newest Lure in Medical Tourism

Posted on 14 May 2012 in Uncategorized by admin

When Min Lee, 54, first toured Seoul’s Chaum Life Center — which is spearheading Korea’s stem cell banking industry — she didn’t quite know what to make of it.

“It rather looks and sounds like something out of a science fiction movie, with all the talk about stem cell treatments,” said Lee, who accompanied her friend to a fitness class at the medical facility and soon found herself touring the luxurious 20,000-square-meter premises in disbelief.

Opened in 2010 and operated by Cha Hospital, one of the larger hospitals in Korea, Chaum has more state-of-the-art technology than a university hospital, but styles itself as a “Life Center.”

It has been the subject of significant media attention recently for its glittering facilities, controversial stem cell treatment, customized schools of therapy and hefty membership fees that match its ritzy Cheongdam-dong location.

The deposit for a membership costs ?170 million (approximately US$152,000, and returned after 10 years) and an additional annual charge of ?4.5 million (approximately US$4,000).

Memberships, which feature a number of checkups and treatments, including stem cell banking, are sold only to Koreans. International patients are billed according to the specific treatments received.

“We are the only facility in the world that incorporates Western medicine, Oriental medicine and alternative medicine,” said Chaum’s global marketing representative Yuna Lee, who works on Chaum’s medical tourism with various international agencies.

Stem cell banking — one of Chaum’s biggest draws — is also the Center’s most controversial marketing vehicle.

“Stem cell treatment is not permitted in most countries, and it is only permitted to some extent in Korea,” said Kyu Sung Rim, president of Chaum. “Reproducing stem cells is not legal here yet, but we are confident that it will soon be legalized.”

Acting on the premise of legalization in the near future, Chaum extracts and stores the stem cells of patients, sending them to its research laboratory in Bundang to be analyzed for the best possible treatment of likely future illnesses.

“Once it becomes legalized, we will then be able to reproduce stem cells and use them for the best possible treatment,” said Rim.

NFL wide receiver Terrell Owens made headlines in the United States when he traveled to Korea for a three-day stem cell treatment for a knee injury at Chaum last September.

“Around 40 percent of our patients are from abroad,” says JiHye Han of Chaum’s public relations team. “We have a lot of Arab princes and princesses and VVIP patients from all over the world, including Europe, the United States and especially China and Japan. Last year, around 900 international patients came here for care.”

As a result of its significant contributions to boosting Korea’s medical tourism, the Life Center recently signed a Memorandum of Understanding with the Korea Tourism Organization for a joint development project.

Apart from stell cell banking, Chaum offers a dizzying array of treatment options that include the most comprehensive medical checkup in the country, sleep therapy in the only sleep capsule machines in Asia, acupuncture and “tea therapy,” as well as doctor-prescribed personalized menus at the facility’s gourmet restaurant Les Trois.

Not all customers have been favorably impressed.

“It’s rather difficult to navigate because the building wasn’t originally built for its current purpose,” said Chaum member Young Seo.

“One of my sons had a checkup at Chaum, and while he said it was nice that all the staff came to him instead of having to go to the various checkup points himself, the staff seemed less experienced than those at university hospitals.”

But most of the reviews have been laudatory. It seems that the premise of customized, preventive and futuristic treatment is proving irresistable for many.

“I like the idea of having stem cells stored away for when I’m going to get sick,” said Lee. “It’s the best kind of insurance.”

http://www.cnngo.com/seoul/visit/stem-cell-building-newest-lure-medical-tourism-559384

Medical Tourism Resource Online

Medical Tourism to Korea at an All-Time High

Posted on 12 May 2012 in Uncategorized by admin

The total amount of money spent by foreigners on Korean medical care during last year is estimated at over $100 million, mostly spent on plastic surgery and general check-ups.

According to the Bank of Korea’s ’Statistics on International Balance of Payments in 2011 (tentative)’ released on Tuesday, revenue from medical tourism rose by 29.2% over last year to 116 million dollars- the highest ever since data collection began in 2006.

Revenue from medical tourism was only $59 million in 2006. The numbers have risen steadily since, reaching $67.5 million in 2007, $69.8 million in 2008, $82.7 million in 2009, and $89.5 million in 2010.

“As Korea’s medical skills and quality of services became better known in other countries, more medical tourists are coming here,” said an official from the Bank of Korea.

“It seems that Chinese and Japanese tourists are entering Korea mostly to have plastic surgery.”

In fact, the total number of medical tourist visas issued by the Korean Embassy in China was 1073, 3.9 times more than 2010.

In addition, according to Ministry of Health and Welfare’s report of ‘Performance Review on Attracting Foreign Patients in 2010,’ the number one type of medical treatment that foreigners chose was dermatology and plastic surgery (14%).

This was followed by internal medicine (13.5%), general check-ups (13.1%), family medicine (9.8%) and obstetrics and gynecology (5.6%).

http://english.hani.co.kr/arti/english_edition/e_business/516984.html

Medical Tourism Resource Online

Costa Rican Medical Tourism Conference in San Jose, Costa Rica

Posted on 11 May 2012 in Uncategorized by admin

“If you’re considering Medical Tourism for your company or for your clients, the Medical Travel Summit in Costa Rica is the only Medical Tourism conference you need to attend,” said Tim Morales of Costa Rican Medical Care.

With many of the providers being centrally located, you will visit as part of the Summit many of the hospitals and dental clinics.

You’ll have the chance to meet the dentists, doctors and their staffs. You’ll really get a feel of the quality of the providers and you’ll be able to interact and ask questions. Many past attendees will be returning for their third trip.”

Lake Geneva, WI (PRWEB) January 31, 2012

PROMED, the Council for the International Promotion of Costa Rica Medicine is once again hosting the 3rd Annual Medical Travel Conference in Costa Rican on April 22-26. PROMED is a private not-for-profit organization, which coordinates the quality control and international promotion efforts of the medical tourism industry.

Its goal is to ensure the quality of services provided by the private health industry in Costa Rica as the country becomes a major center for global medicine and medical tourism.

The purpose of this conference is to give insurance company executives, employee benefit mangers, health underwriters, insurance agents, third-party administrators, and other interested parties the opportunity to experience first- hand what the hospitals and physicians of Costa Rica and other Latin American countries have to offer.

This conference will generate more than 750 business meetings, and the organizers expect more than 400 participants and 75 exhibitors from throughout Latin America.

Top- level health care industry speakers, many from the U.S., will address topics related to the medical tourism industry and healthcare.

It is an ideal time for employee benefit providers, insurance companies, TPAs, health insurance agents and anyone who is concerned about the rising cost of health care to learn about the benefits of medical tourism, especially in nearby Latin America.

One of the main ways to bring down health care costs in the U.S. is for employers to offer a medical and dental tourism option.

Health care costs in the United States have exploded in recent years, and costs will continue to grow as more people’s health and dental benefits are cut and the number of doctor’s drop out of the system. However, these same procedures are very affordable in Costa Rica.

People are saving up to 70% on dental and medical procedures using internationally accredited providers in Costa Rica. Many people and/or employers who have to pay out of pocket do not realize they have other options like medical tourism, which can keep them healthy and save money at the same time.

Working with the finest private hospitals and physicians in Costa Rica will help people save hundreds if not thousands of dollars on certain dental and medical care procedures.

“If you’re considering Medical Tourism for your company or for your clients, the Medical Travel Summit in Costa Rica is the only Medical Tourism conference you need to attend,” said Tim Morales of Costa Rican Medical Care.

With many of the providers being centrally located, you will visit as part of the Summit many of the hospitals and dental clinics. You’ll have the chance to meet the dentists, doctors and their staffs.

You’ll really get a feel of the quality of the providers and you’ll be able to interact and ask questions. Many past attendees will be returning for their third trip.”

http://news.yahoo.com/costa-rican-medical-tourism-conference-san-jose-costa-080630543.html

Medical Tourism Resource Online

The World Medical Tourism & Global Healthcare Congress has opened the door to the Employer

Posted on 10 May 2012 in Uncategorized by admin

This year, for the first time, the Congress will have a full integration with the Employer Healthcare and Benefits Congress (EHBC), which is one of the largest U.S. health insurance and health care conferences in the country.

Attendees of the 5th World Medical Tourism & Global Healthcare Congress (WMT &GHC) will be able to share the exhibit hall, networking cocktail receptions and other special events with the attendees of the EHBC.

This means potentially over 1,000 employers, insurance agents and insurance companies all in the same place. With the opening of the networking software attendees will be able to take full advantage of this, and are now able to request one to one meetings with attendees from both conferences.

And, for those that are unsure of the correlation, all EHBC and WMT & GHC sessions will be open to all.

The reason for this integration is that medical tourism is more important than ever before, creating more economically viable healthcare solutions.

This is the one event per year where Ministers of Health, government officials, employers, self funded health plans, insurance companies, and medical tourism facilitators that are looking to outsource healthcare overseas have the opportunity to meet with top international hospitals and medical tourism companies in one place for the ultimate networking event.

The EHBC is made up of the following 4 integrated conferences: Corporate Wellness, Voluntary Benefits, Self Funding and Healthcare Reform. Each of these conferences will bring attendees in the following industries:

•U.S. Employers (Human Resources/Benefits Executives, Wellness Managers)
•Multinational Employers (Global Benefits Directors, Global Wellness Managers)
•Agents, Brokers, Consultants
•Global Benefits Providers
•TPA’s MGU’s and PBM’s
•Health and Wellness Providers
•Voluntary Benefits Providers
•U.S. and International Health Insurance Companies
•U.S. Health Insurance Administrator
•Technology/Software Companies
•Marketing Organizations
•Consulting Companies

For more information about the integration or registration, please send an e-mail to info@MedicalTourismCongress.com

http://www.medicaltourismmag.com/newsletter/68/the-world-medical-tourism-global-healthcare-congress-has-opened-the-door-to-the-employer-healthcare-and-benefits-congress-for-2012.html

Medical Tourism Resource Online

Medical Tourism and Medical Oversight in the Bahamas

Posted on 9 May 2012 in Uncategorized by admin

In a recent Tribune article, heart specialist Dr Conville Brown complained about Bahamians spending millions of dollars in the US for medical care that could easily be obtained at home.

He was arguing in favour of local healthcare providers building a large-scale medical tourism industry here.

“The same things that all tourists do,” he said, “the medical tourist has to do. (And) if the ownership is Bahamian, then the economy really wins because those funds will stay here.”

But at the same time he felt constrained to point out that Bahamians were offsetting the income from foreigners by flying off to get treatment in the US.

“We boost their economy big time. We are reverse medical tourists. Several hospitals in South Florida say their biggest international clientele is from the Bahamas.”

Medical tourism is a multi-billion-dollar growth industry that hospitals, doctors and tourism marketers around the world are eager to tap into.

By some accounts, more than half a million Americans travel to other countries for medical treatment – partly for cost reasons and partly to take advantage of procedures not yet approved in the US.

There can be no disagreement with Dr Brown’s position in terms of the Bahamian economy. And for patients, the benefits are equally obvious and compelling.

If Bahamians obtained their medical treatment at home they would significantly reduce the logistics, expense and stress of being treated abroad.

Why then, do so many of us spend so much money overseas for treatments that are available right here at home? We can answer that question fairly confidently – given a choice, patients will seek medical care from the doctors, hospitals and clinics they trust the most.

This is a personal decision, and it is usually an informed decision. Patients must feel assured that the doctors and facilities they choose are both accountable and able to provide the best quality care they can afford. So what processes do we have in place to convey such assurances to Bahamians?

Well, there are three statutory bodies that are capable of providing quality assurance and oversight to the Bahamian healthcare sector.

The Public Health Authority has managed government hospitals and clinics since 1999, under the direction of the Minister of Health.

As an independent public body, the Authority is responsible for planning, policy, monitoring, evaluation, and management, as well as programme development and oversight.

However, the PHA’s legislation has no provision for the investigation of complaints about the healthcare facilities managed by the Authority.

Instead, PHA patients are advised to contact the “patient representative” to discuss any concerns they may have.

The Hospital and Health Care Facilities Board was created by Parliament in 1998 to license private hospitals and clinics. This legislation does include a specific mandate to investigate complaints into the “diagnosis, management and treatment” of any patient.

Physicians are the primary providers of healthcare, whether in the public or private sector, and since 1974 they have been licensed and regulated by the Medical Council.

According to its website, the Council was established “to regulate the medical profession, to upgrade doctors through continuing education requirements, and to safeguard the public through receiving and disposing of complaints.”

However, despite the fact that it represents one of the richest professions, the Council is made up of a handful of volunteers with virtually no administrative staff. Their website, for example, includes dead and departed physicians on its registry.

So do the records of these three bodies help to inspire confidence and trust in the delivery of healthcare services in the Bahamas?

Well, It would be useful to know how many complaints have been processed by the PHA’s “patient representative” and how they were resolved, but unfortunately that information is not publicly available.

As for the Hospital Board and the Medical Council, a summary of the case history of one complaint to these bodies over the past decade is instructive.

In 2004 a complaint was made to the Hospital Board concerning the treatment of a 42-year-old man who unexpectedly died in 2002 in a licensed Bahamian healthcare facility.

The Board initially refused to deal with the complaint. But after several Board members were replaced in 2005 by then Health Minister Dr. Marcus Bethel, he ordered that the complaint be investigated. This order by Dr. Bethel more than six years ago is the high-point of the case.

The 2005 Board met with the complainant’s legal and medical representatives in 2006. Afterwards, the Board chairman advised that ”since the patient was dead, the file should be closed.”

The Board did, however, reconsider, and an investigatory panel was to be formed. However, the government changed before this happened.

The new government reinstated the 2004 Board chairman, and other members. This chairman reported to a Rotary Club meeting in 2008 that the Board didn’t want to investigate any complaints, or “be involved in that detailed level of work.”

The Board said it would seek to have its enabling legislation amended, to remove the investigative requirements, and also to remove the requirement for licensed facilities to report deaths occurring on their premises – a legal mandate never complied with, and never enforced, over the Board’s entire lifetime.

(It should also be noted that over the past 14 years the Board has issued only two “annual” reports to Parliament, something which it is required to do by law every year. And even obtaining copies of those two reports presents enormous challenges.)

At a public meeting in 2008, Health Minister Dr Hubert Minnis also promised to investigate the 2004 complaint. But it is now 2012 and the Board has taken no action whatsoever. Neither has it ever responded to the complainant.

As for the Medical Council, it received a complaint about the same patient’s treatment and care in 2008. The disciplinary committee of the Medical Council met twice on the matter, and three years ago, then Council chairman Dr Duane Sands assured Tough Call that “There is no stonewalling.

We take this very, very seriously because we want to ensure that the public will be well-served at the end of the day by this groundbreaking precedent.”

He also told me that a revision of the medical act (something which has been stalled for almost a decade now) would strengthen the Council’s ability to deal with “a finite group of people who are discrediting the profession without any real repercussions – from charging extortionary fees to providing less than appropriate care.”

However, in December of last year the Medical Council’s disciplinary committee suspended the 2008 complaint investigation indefinitely.

The Council decided it could not proceed because of an ex-parte injunction granted by a Supreme Court judge against the disciplinary committee in 2009, on the application of a doctor concerned in the matter.

Since then, the Medical Council has taken no steps to have the injunction removed or to proceed with the investigation.

The injunction itself is a curious feature in this story. It is perhaps “the one and only” injunction to be granted by one Supreme Court judge against another Supreme Court judge (who sits in his judicial capacity as a member of the statutory disciplinary committee).

Kerzner’s branding of the Ocean Club as the “One and Only” has given a high profile to the Bahamas as an attractive destination, but the “one and only” injunction against a Supreme Court judge could have a converse effect on the Bahamas as a destination for medical tourism – quite apart from the collateral damage inflicted on the public oversight function of the Medical Council.

If doctors and politicians want to attract medical tourism to the Bahamas, they need first to inspire confidence in Bahamian medical services among Bahamians themselves.

Putting the legislation that already exists to work on behalf of the public interest by providing quality assurance and oversight of healthcare delivery is the obvious place to start.

http://www.bahamapundit.com/2012/01/medical-tourism-and-medical-oversight-in-the-bahamas.html

Medical Tourism Resource Online

Domestic Medical Tourism

Posted on 8 May 2012 in Uncategorized by admin

Domestic Medical Tourism: It seems counter intutive to pay for an employee or covered family member to travel to another locale in order to have a less expensive medical treatment.

This travel often includes the transportation and lodging costs of a companion caregiver, such as a spouse or other adult relative to accompany the member. However, many large companies often include a domestic medical tourism option within their health care plans.

While financial savings is one of the objectives, in other cases those procedures which are most likely to have the highest positive outcomes may only be available in another city or state.

Furthermore, it is often the case were both financial savings and positive outcomes come together for the benefit of the plan sponsor as well as the member.

Domestic medical travel is frequently associated with medical centers of excellence which specialize in a limited range of disease conditions, yet employ leading edge treatment modalities.

These centers are generally located in metropolitan areas throughout the nation, sometimes in conjunction with research and teaching hospitals.

Facilities such as the Cleveland Clinic, Mayo Clinic, Johns Hopkins, and MD Anderson Cancer Center are among the several institutions touted as being recognized for their frontline treatment procedures for diagnosing and treating especially difficult medical conditions.

While expenses associated with travel, transportation, and lodging do not make financial sense for routine and uncomplicated medical conditions; treatment for unusual and rarely seen illnesses may confound local providers, even if they are a specialist.

Misdiagnoses, unnecessary care, repeated or incorrect procedures may only exasperate the medical situation, resulting in lost productivity, wasted dollars, time, as well as ageist on the part of the member and family.

Negative outcomes could result in long term or permanent disability and/or even untimely and avoidable death.

Organizational policies connected to domestic medical travel must be clearly and comprehensively documented within carrier contracts, Schedule of Benefits, Summary Plan Descriptions, as well as general and specific documents and policies addressing paid, unpaid, and FMLA leaves.

Unless the organization retains internal or external medical expertise, it is best to rely on the recommendations of the member’s specialty care provider(s) in consult with the carrier as to whether or not domestic medical travel is warranted.

Special attention should be paid as to who is permitted to travel with the member as a companion caregiver; this could include a spouse, domestic partner or an adult relative.

Non-adult children should be excluded. In the absence of a related or domestic partner companion, an organization may want to consider the use of a medical or home health aide to assist the member before, during, and after the travel period.

Again, it is best to rely on the recommendations of the member’s specialty care provider(s) when it comes to what type of companion would be required.

If the organization retains an EAP, it may be appropriate to make the member aware of and provide information about such services as requested.

The EAP is in the proper entity to provide assistance with legal and other services to address issues dealing with durable power of attorney, advanced living directives, wills, and living wills.

http://total-employee-rewards.blogspot.com/2012/01/domestic-medical-tourism.html

Medical Tourism Resource Online

Tourism Idea has Sea Legs

Posted on 7 May 2012 in Uncategorized by admin

UNTIL the mid-19th century, anaesthetic was not used routinely in surgery. Today, thankfully, the alternative is unthinkable. Medical science will always teeter on the edge of the ethical, balancing the concerns of the community against the desperation of the sick.

In countries like Australia, the rate of regulatory and policy change is weighing down progress; it takes many years for significant advances to become available – no doubt at the cost of lives and quality of life.

Just a few years ago, medical tourism was considered taboo. But it is becoming commonplace for patients to undergo medical procedures outside their country of residence – usually because healthcare at home is lacking, not available fast enough or is too expensive.

Sometimes a sufferer chooses to try a treatment ruled out by the regulators in their home country. Medical entrepreneurs are stepping in to fill the demand.

Perhaps the most high-profile of these is Dignitas in Switzerland, which helps the terminally ill to die voluntarily. Another organisation keen to innovate its way into existence is planning to capitalise on the increasing popularity of medical tourism by offering medical procedures at sea.

Advertisement: Story continues below The Seasteading Institute is a libertarian project set up in 2008 by Patri Friedman (grandson of free-market guru Milton Friedman) that aims to create floating cities on the sea outside of any country’s jurisdiction.

These cities, or ”seasteads”, will allow the communities living and working on them to experiment with new political and social systems unconstrained by the laws of existing nations.

To cover the considerable costs of designing, building and operating giant off-shore communities, the institute is banking on its seasteads becoming an attractive destination for medical tourists.

In keeping with the libertarian principle that a person may do to themselves as they please as long as they’re not causing harm to others, the Seasteaders plan to offer cutting-edge and experimental procedures to early-adopting patients.

To facilitate this, the Seasteaders won’t regulate doctors, scientists and possibly anyone else who may want to provide treatments that are illegal elsewhere.

No doubt the libertarians’ hands-off approach to regulation will generate concerns about medical procedures gone wrong and quacks who are more interested in making money than saving lives. Which points to the broader issue here: What is the market’s role in medicine?

Like Australia, most countries with nationalised healthcare systems are sinking under the pressure of increasing demand from ageing populations and the plethora of new and expensive interventions. So governments are looking for ways to bear these exponentially rising health costs that aren’t political euthanasia.

While the Seasteaders’ plan sounds pretty out there, it’s not such a whacky idea. Last year our own federal Department of Resources, Energy and Tourism quietly commissioned an economics consultancy to research whether it would be viable for Australia to expand its offering as a destination for medical tourists.

According to the research, Australia has fallen behind countries such as Thailand, India, Singapore, South Korea, Germany and the United Arab Emirates, which have all put policies in place to stimulate this new market within their borders.

Leading the way are Thai private hospitals, which market themselves as a destination for medical tourism with luxury accommodation and quality healthcare.

The commissioned research found that the proportion of tourists travelling to Australia to access medical services was growing.

Although Australia couldn’t compete with Asian providers on price, the report suggested a niche treating first-world problems such as botched cosmetic surgery and IVF.

But with the Australian public hospital system already over capacity, it wouldn’t be a good look for Australian governments to fill up private hospital beds with fee-paying overseas patients. The alternative is to encourage purpose-built centres for medical tourists.

Marketing Australia as a destination for medical tourists could subsidise our local health services in the same way fee-paying international students support our higher education sector. It’s in Australia’s interests to take medical tourism seriously.

Read more: http://www.smh.com.au/opinion/society-and-culture/tourism-idea-has-sea-legs-20120128-1qmsh.html#ixzz1vO4xjZhl

http://www.smh.com.au/opinion/society-and-culture/tourism-idea-has-sea-legs-20120128-1qmsh.html

Medical Tourism Resource Online

Convergence between sectors will pave the way ahead: Speakers @ IFIM Convergence 2012

Posted on 6 May 2012 in Uncategorized by admin

World fame Academicians, Industry experts and Corporate Leaders deliberated on the challenges in the fast-growing service sector in India at International Conference on “Doing Business in India” with a special focus on Retail, Financial Services, Healthcare and Medical Tourism, Education, organised by IFIM in Bangalore recently.

The two-day annual conference ‘Convergence 2012’ was organised in association with LUNEC, Germany and VCU, USA.

Distinguished Academicians who shared their thoughts at the conference included Padma Vibhushan Dr. M.S. Valiathan, National Research Professor, Mr. Manohar, Director, Demand Chain, SKF India;

Dr. Rafiq Dossani, Professor, Stanford Universit; Dr. B.P. Pethiya, Director, IFIM Business School; R S Nirjar, Executive Chairman, IFIM Business School Bangalore; Prof. Joe Phillip, President, XIME, Bangalor;

Prof. S Sriram, Executive Director, Great Lakes Institute of Management, Chennai; Prof Chandra Bhushan Sharma, Professor of Education, School of Education, School of Education, IGNOU, New Delh; and Dr. M Chandrashekar, Dean, M S Ramaiah Institute of Management

Prominent corporate speakers at the event included Mr. Bijou Kurien, President, Reliance Retai; Mr. Jonathan Yach, CEO, Mantri Square, Bangalore; Mr. Satish Puranam, VP, Max Retail Stor; Mr.

Natarajan, Managing Director and CFO, Helion Venture Partner; Mr. Deven Choksey, CEO K R Choksey Securities; Mr. Ambareesh Baliga, COO, Way2Wealth; and Mr Anil Saxena – Group CFO Religare Enterprises.

While “Doing business in India” has been the theme for Convergence for last four years, the event focuses on specific sectors each year. This year theme focused on “Doing Business in India-Opportunities and Challenges in the Service Sector”.

The event comprised four panel discussions followed by paper presentation on four disciplines of the service sector including Retail, Health Care and Medical Tourism, Education, and Financial Services, that are fast expanding and gaining centre-stage in Indian Economy.

Speaking on the need of convergence in health sector, Dr. M.S. Valiathan said, “There is a lack of innovative management. A convergence between sectors will help people to bring out their thought and also create opportunity for related sector of management.”

Four different panels of industry experts and distinguished scholars deliberated on different sectors specific topics and discussed on the challenges that industry face today. Each discipline had distinguished panelists from the Industry and Academia who spoke on the salient aspects of the arena they are associated with.

A rich panel of experts including Mr. Bijou Kurien, President, Reliance Retai; Mr. Jonathan Yach, CEO, Mantri Square, Bangalore; Mr. Satish Puranam, VP, Max Retail Store, Mr. Shriram Sanjeevi, SBU Head – Lifestyle and Food, Indiaplaza.com and other, spoke on ‘FDI in Retail: Impact on Indian Economy’.

The panelists discussed on the huge opportunity for India with its growing proportion of young population and their unique consumption pattern coupled with the increasing use of Information and communication technology and emergence of e-commerce.

Another expert panel on ‘Healthcare Beyond Borders- Emergence of Medical Tourism’ included Dr. Nanda Rajaneesh, Consultant, Gastrointestinal Oncosurgery, VP Medical Services, Nova Medical Center;

Dr. Aashish Shah, Consultant, Gastrointestinal Laparoscopic Surgery and Instrument Designing (SILS), Head GI-MAS & Bariatric Surgery, SILS Programme, Fortis Hospitals, Bangalore;

Dr. Kudur N Manjunath, Consultant, Internal Medicine & Geriatrics, Vikram Hospitals and Fortis Hospitals Bangalore; and Dr. Vivekananda, Cardio-thoracic & Vascular Surgeon, Sagar Hospitals, Bangalore.

The practitioners spoke on how India is emerging as a favorite medical tourism destination for several reasons like cost, hospitality, fluency in English, low waiting time and expertise, and high rating for Bio-technology research.

They also spoke on various challenges like Ethics and legal issues; lack of health insurance coverage and standardized policy; and lack of holistic sync between the political, social and economic plans.

Another panel of experts discussed on the ‘Challenges and Opportunities Ahead’. The experts in the panel included R S Nirjar, Executive Chairman, IFIM Business School Bangalore; Prof. Joe Phillip, President, XIME, Bangalor; Prof. S Sriram, Executive Director, Great Lakes Institute of Management, Chennai;

Prof Chandra Bhushan Sharma, Professor of Education, School of Education, School of Education, IGNOU, New Delh; and Dr. M Chandrashekar, Dean, M S Ramaiah Institute of Management. The panelists expressed concern over a huge disconnect between business and education industry.

A separate panel discussed on ‘Management Strategies in the Financial Services’.

The panel critically evaluated the relative resilience shown by the Indian economy and also aspects like management strategies adopted by the BFSI sector, role of foreign players and regulators. They stressed on need for a single master regulator.

Moderated by Mr. Sunil Damania – Editor, Dalal Street Investment Journal, the Panel comprised experts like Prof. Prasanna Chandra. Director, CFM, Bangalor; Mr. Natarajan, Managing Director and CFO, Helion Venture Partner; Mr. Deven Choksey, CEO K R Choksey Securities; Mr. Ambareesh Baliga, COO, Way2Wealth; and Mr Anil Saxena – Group CFO Religare Enterprises.

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