India, in recent times, is home to nearly 30% of global medical tourists, making it a leader in the medical tourism industry. Its popularity lies in providing quality and affordable treatment in comparison to countries such as Germany, Australia, Japan, the USA, and so on.
Hospitals in India, mostly the private sector is rich in modern medical equipment and a highly-skilled workforce. With a large number of doctors with specialized expertise in critical surgeries is a result of rigorous training.
Cities like Bangalore, Chennai, Delhi, Hyderabad, Kolkata, and Mumbai has become a medical hub which is well connected with all modes of transportation like Air, Rail, and Road. The cities are rich in history and culture and have good infrastructure.
Most hospitals in these cities have mandatory quality guidelines and accreditations since its inception — the accreditations like NABH and while quality guidelines like ISO 9110 are mandatorily followed.
Reasons for low treatment cost
One of the prime reasons for the growing popularity of India turning up to be an attractive medical hub is only because of its low cost of treatment. A critical heart surgery would cost around USD 40,000 in the USA, whereas, in India, it will cost only USD 4,000 with five-star accommodation, which is just 10% of the cost in the USA. People associate low prices with poor treatment, which is not the case in India. To understand the differences in cost, we have to look at things from other perspectives.
The difference in Exchange Rate
The exchange rate difference is one of the prime reasons for India to be an attractive medical hub globally. In India, USD 1.00 is equal to RS 71.39 (23/01/2020), while neighboring countries like Bangladesh also there is not much difference as Tk.100 is equal to Rs.84.13 (23/11/2020).
Low Cost of Generic Medicines
Due to the high demand for medicines, The Government has reduced the cost of generic medicines where patents have expired. When it comes to innovation, India has exceeded all benchmarks. Government spending on innovation and research is way less than western countries.
Centralized Hub
All the megacities in India are a medical hub like Bangalore, Chennai, Hyderabad, Delhi, and Kolkata. The centers attract patients from around the region for significant treatments, which creates a high demand and helps in minimizing the fixed costs of the hospitals.
Standard and Systematic Operations of Hospitals
The approaches of hospitals in India are quite regular and systematic such as doctors performing a specific task and not getting involved in tasks out of his routine. Medical equipment in India are used to its optimum as patients of the surrounding region frequent the hospitals for major treatment.
Wage Rate Difference
Salaries of staff and doctors are way lower than that of Western Countries like New Zealand, Australia, Canada, and the USA. There is a category-based allocation of work where specialized doctors are assigned only specialized tasks and a large number of paramedic workers who are trained and specialized in routine work.
Smart Process
In India, doctors are paid monthly salaries rather than based on per patient due to which hospitals can reduce costs and deliver quality treatment to the patients arriving from home and abroad.
So, due to these reasons, you can have a world-class treatment at an affordable cost in India will all the facilities you want.
When it comes to visiting India we publish blogs every week to help enlighten you about accommodation, transport, medical treatment, doctors, visa etc. You can tell us how helpful these tips were or suggest to us what would you like us to write about further at ino@kkrushdivinehospital.com
