How to start the business of medical tourism and medical travel?

In this article, I have tried to simplify the Business of Medical Value travel / Medical Travel/ Medical Tourism using my experience of the industry.

Business

What is this business and why should one choose to do it? Let us study this by using an example-

• One Patient brought in India averages at Rs. 6,00,000 for Medical Bills.

• 20% of this patient is your fee which works out to Rs.1,20,000/-.

• Just 1000 patients done in a year takes your revenues to Rs. 12cr.

• And that is just the fee, add to this ticketing, hotel bookings and other saleable.

And still, this is just commerce. The immense satisfaction that you get by saving a life is earning of a lifetime!

What is Medical Travel?

Let us try to decode the business. Medical Travel is when a Patient is seeking Healthcare outside his/her country of residence. The reason for his search may be many or one of the below-

• When a Treatment is not available locally.

• When outcomes is compromised locally

• When the cost is very high locally

• When the waiting times are high locally

• When Better Technology is available externally.

• When a Better Skill Set is available externally.

There are a lot many specialties where most of the developing nations are still struggling such as Oncology, Paediatric Cardiac Surgeries, Bone Marrow Transplants, Kidney and Liver Transplants, Neurosurgery etc. Most of the times people are traveling in search of treatment for these specialties and yes for almost everything.

What is the larger picture when it comes to India and those who wish to join this industry in India?

• Our Honorable PM has committed to make India the Global hub of healthcare.

• Niti Ayog has committed a very Large Sum of Money to grow India as a Healthcare hub.

• In the Union Budget 2026-27, Finance Minister Nirmala Sitharaman announced a major push to establish India as a global medical tourism destination by supporting states in setting up five regional medical tourism hubs.

• Leading private hospital chains are undertaking massive expansion, with ~6,000 beds added in the previous fiscal year and a similar or higher pace expected, aiming for over 30,000 beds over the next 4–5 years.

• The private hospitals will always need Medical Tourists to compensate the no profitability patients. The need to push India in medical travel market will always remain.

• India will become a global hub without doubts. The question is if you wish be part of that global phenomenon.

The Size of Current MVT Market in India is $4.5 Bn. Projected Market Size by 2030 - $9bn! Globally it is expected to grow from $36 bn to $50 bn annually.

So, where do we start?

The answer stays in a simple equation called Abhik’s Algorythm. Let us study what it is -

Abhik’s Algorythm is - Number of Patients = Number of Contact Points Number of Queries Conversion Rate

The larger the number of patients is, the bigger the business is!

“Let us study each part of equation one by one”.

Number of Contact Points- The more the better. What all can be the contact point where a patient would reach out to?

• Digital Model -Internet as a contact Point

• Referral Model – In which people involve would refer a patient. People such as Doctors, Travel Agents, others already treated patients who would spread a Word of Mouth etc.

• Corporate Model for organized referrals – Institutes who refer such as Governments, Insurers, NGOs, Corporates.

• Information Offices - Owned or partner run offices where a patient may walk into.

Number of Queries- if Generating Queries is Half Business, how do we generate more queries. It depends upon the contact point from where we are trying to generate the query.

• Digital Model – We can work on SEO, SMO, PPC and other modes of advertisement.

• Referral Model – We can conduct outpatient clinics and CMEs.

• Corporate Model for organized referrals – We can invite them to visit us or organize special events for them.

• Information Offices – Using the office we can run local advertisement in local media.

Conversion Rates – The better the conversion rates is from query to patients, the better the prospect of your business is. What can all be done to improve the conversion rates?

To answer a query, we need to be quick, be wonderful and be detailed. Check out some of our sample opinions to see how detailed it can get.

• Manage your Turn Around Time to the quickest.

• Be Clinically Good.

• Answer Simply Yet Technically.

• Add Extra Information.

• Add Freebies – Video Consults / Attendant Services etc.

Now let us study the Abhik’s Algorythm once again with above information and with an example-

Number of Patients = Number of Contact Points Number of Queries Conversion Rate

Eg = 100*10*5% = 50 Pts!

So where do you begin?

1. Choose your Market Entry Model based on which market you want to start with? Start with at least 4 markets.

2. Put a right team in place and have at least one medico in the team.

3. Make some Hospital Agreements to refer the patients to. Start with multispecialty Hospitals.

4. What else? Feel free to ask us….care@hbgmedicalassistance.com

An article by Abhik Moitra.