International Healthcare: Medical Tourism Revenue Stream Analysis – Transparent Borders
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INTERNATIONAL HEALTHCARE - MEDICAL (HEALTH) TOURISM
MEDICAL TOURISM - REVENUE STREAM ANALYSIS
Medical (Health) Tourism - Hospital in Middle East looking to Increase International Traffic
MEDICAL TOURISM - TRANSPARENT BORDERS™ CASE STUDY
The country involved in this Cross Border Healthcare project is considered stable according to International Public Metrics; but suffers from certain Cross Border Healthcare image issues internationally. This evaluation was substantiated by recent declines in International Medical Tourism at the hospital. There appears to be low marketing interest in the region or country and the hospital is trying to identify new and effective Medical (Health) Tourism distribution channels. Various government agencies have joined different International groups and associations in the hopes of increasing International Cross Border Healthcare patient volume; but up to this point, the hospital has not achieved any significant increase in new Medical Tourism patient volume. The hospital has 150 beds and is considered a center of healthcare excellence in the country.
This Medical (Health) Tourism Project involves two distinct Phases:
Phase 1: Preliminary Medical (Health) Tourism Analysis
In the initial phase, Transparent Borders would initiate an International Medical Tourism Revenue Stream Analysis using data elements from the following: Country infrastructure, Hospital infrastructure, Current Medical Tourism incoming population, Shifting demographics, In-Country healthcare Insurance markets, and Quality Metrics and costs associated with cross border medical care. This includes, but is not limited to:
Identification and analysis of current Medical (Health) Tourism environment
Analysis of current Cross Border Healthcare Marketing methodology and inbound Medical (Health) Tourism patient tracking
Review of current Distribution Channels, International Healthcare Marketing, and Commission structures
Ability to communicate concept of Medical (Health) Tourism via current or former International Cross Border patients
Identification of population and demographic groups open to International Cross Border Healthcare travel, specialty care, including payment ability
Evaluation of current uninsured population in the country and indigenous factors
After completing a thorough evaluation, demographic pools will emerge and can be mapped based on various parameters, including travel accessibility and coverage affordability. Transparent Borders will submit a Cross Border Healthcare revenue stream impact study on the importance of Medical (Health) Tourism to the local population, which would include various macro and micro economic factors. This initial phase of the International Healthcare Revenue Stream Analysis will assist the local government and their various agencies in a comprehensive evaluation of Medical Tourism as a viable social, economic, and growth oriented program, deserving of additional resources and long term funding.
Phase 2: Cross Border Healthcare Distribution Recommendations
After the Medical (Health) Tourism demographic pools have been identified, a detailed mapping of Cross Border International Healthcare distribution channels, methodologies, and the short / long term costs associated with the Revenue Stream Analysis can be completed. This phase of the analysis would include:
Probability of Medical (Health) Tourism inbound patient flow based on various international healthcare cost structures
Probability of Cross Border Healthcare inbound patient flow based on various quality medical care parameters
Required National and Local infrastructure enhancements and marketing efforts to support desired level of Medical (Health) Tourism traffic flow
Distribution or Commission development, including quality metrics evaluations using various online resources, tools and applications (For more information, see our cross border Health Climate Calculator™ application).
Cross Border Medical (Health) Tourism beta testing with selective focus groups
While International Healthcare distribution channels are a critical factor to the success of Medical (Health) Tourism as a national industry in any country or region, a comprehensive understanding and willingness to reformulate certain incentives and barriers to receiving Quality International Cross Border Medical Care in any specific hospital, state, or country, must have the total support of all interested stakeholders.
Click Here For More Detailed Information on Some of our other International Healthcare Strategies regarding MEDICAL TOURISM - GROUP SOLUTIONS
For more information on our various Quality Healthcare Metrics and Analyses, please view our HEALTH CLIMATE CALCULATOR
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