Do you know how best to enter the medical tourism space in order to thrive and make profit?

Medical tourism is already a significant sector in healthcare domestic or internationally. Millions of patients travel each year to receive quality care.

The seven most frequently cited reasons for medical travel include:

? Some travel because care they require is unavailable where they live. They may fly or drive to your location. Maybe they want advanced technologies. Maybe they heard about a specialist they researched who offers the procedure they want.

? Some travel as "redirected" by their insurer or employer because the employer has negotiated special arrangements for surgical packages at a lower cost to the employer, and they have shortlisted either certain clinics, surgery facilities or specialists that they already vetted for quality, safety, and cultural alignment (language, food, etc.). If they remain in their home town, they may have a higher deductible, copay, and other "penalties" for not using the redirection program. If they accept the redirection, they may have hefty deductibles, copayments and travel costs waived or fully- or partially-funded.

? Some travel because care is not affordable where they live. Some travel because they can afford anything, anywhere and seek the best in care and hospitality.

? Some travel because they are already planning a wellness trip or vacation and would like to add a medical procedure to their agenda

? Some travel because they need anonymity or privacy. The care may not be legally available in their hometown. They may be a local celebrity. They may be a local doctor or nurse who wants care outside the area where they may encounter colleagues. They may need treatment for substance abuse or a condition they want to keep off the radar.

? Some travel for "last chance" therapies that are experimental or investigational and they are willing to try anything for themselves or a loved one.

? Some travel because the service is available if they wait 5-7 years in pain for an elective procedure.

As healthcare providers, you must determine the reason your typical customer has decided or is considering medical travel, but where do you begin?

Here are five key steps to successfully enter the medical tourism industry:

1. Understand Your Market

You cannot guess! Research is critical. Identify the patient demographics and countries most likely to benefit from your services. Examine and analyze current patient demographics and source markets and reasons for choosing you. What resonated with them? Knowing the target market will help you tailor your offerings. Know what their central bank in their country will allow in terms of payment transfers, credit ratings to get a passport, if any, local competition they can choose or closer competition they can choose. Why will they fly/drive past them to come to you?

What support will they need during travel and at your destination. Round out your offer to cover everything.

2. Develop Transparent, Competitive Pricing

Develop a bundled pricing model that offers clarity and simplicity—patients need to understand exactly what is included and excluded. A transparent, all-inclusive price for surgery, accommodation, and aftercare can set you apart in a crowded market. Make sure you address complications and treatment failures (e.g., Arthrofibrosis, infection, DVT/PE, implant failure, etc.)

3. Build a Strong International Network

Medical tourism thrives on partnerships. Work closely with travel agencies, accommodation providers, and rehabilitation centers to create a seamless experience for patients. Forming alliances with local healthcare facilitators in destination countries can also expand your referral network and boost credibility and continuity of care and brand standards.

4. Invest in Marketing and Digital Presence

Your online presence is often the first touchpoint for international patients. Invest in a professional website that highlights your expertise, accreditations, success stories, and competitive pricing. Utilize social media and SEO strategies to reach international patients. But that's not all that's required. Some of the advertising and promotion requires cash. It's not all freebie posts on social platforms. And post where your audience consumes content. Consider translating your content into multiple languages to remove barriers.

5. Ensure Accreditation and High Standards of Care

Patients crossing borders for healthcare are looking for safety, expertise, and trust. International accreditation is an enigma to them. They don't understand what it means and what it doesn't mean, so paying a lot of money to get it may prove disappointing, resulting in blank stars and confusion. Instead, speak directly to your safety protocols, infection rates, third party verification of quality outcomes, customer service, and friendly, competent staff in your marketing materials to build trust with potential patients. An accreditation badge means absolutely nothing to the customer. To a competing provider it means you deliver the average of the standard of care of the community in which you are located; no more; no less.

By strategically positioning your offer within the medical tourism space, you can expand your reach, offer valuable care to patients worldwide, and drive profit.

Ready to get started? Contact me to learn how I can help guide you through your medical tourism journey! I'm the only expert with 7 internationally published handbooks on medical tourism having worked in 122 countries for doctors, clinics, hospitals, government agencies, international development banks, and cluster associations.

Get in touch

+1.800.727.4160

Maria Todd PhD, MHA