Medical Tourism in India | Startup | Sarthak Ahuja
India is one of the top 6 destinations in the World… not for the Taj Mahal… but for Hip Replacement 🍑
👉🏼 If you walk into any of the hospitals in Gurgaon, even before you notice the African and Arab faces, you’ll start spotting sign boards in Greek and Persian for long stay and medicines plastered all around… along with of course an IVF clinic or two in every lane in NCR
👉🏼 Approx 2 Million people visit India every year from 78 countries to get medical treatment, including eye surgery, hip replacement, heart by-pass procedure, IVF and bone marrow transplant.
👉🏼 For a bunch of these surgeries, the costs in India are just ~10% of that in the US and UK. Further, a lot of Asian and African countries don’t have the number of doctors as well as the infrastructure to carry out these procedures.
👉🏼 Chennai is the top spot with +40% of all medical tourists flying to the city for surgeries, but Mumbai, Delhi and Kochi follow suit.
👉🏼 It’s apparently more than a USD 4 Bn industry at the moment, galloping towards becoming a USD 9 Billion dollar industry in the next 3 years, and the Govt of India has launched an e-visa for medical tourists too, which lasts about 6 months.
👉🏼 Let’s understand how Agents in this space make money.
1/ They tie up with hospitals in India and agree on a % commission to get patients for surgeries from different countries.
2/ A partner in an African country will liaison with doctors and hospitals to collect information of people who wish to get procedures done. Depending on how big are the operations, referral fees is given for access to these names.
3/ The agent arranges visas, accommodation, doctor visits, translators for doctor visits and helps book surgeries, all for a price. There are commissions agreed with accommodation providers, translators, hospitals so you basically make money from both ends for being what you are – an agent.
🤯 I myself know a few individual agents in and around Gurgaon who do upwards of Rs 1 crore of commissions annually with barely a team to manage, but the right connections
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A Chartered Accountant with about 10 years of experience in areas of Tax Advisory, Startup Consulting, Fundraising, Audits, Deal Advisory, Business Modelling and contract CFO services.
Winner of the ISB Young Leader Award 2017 and the Best All Rounder, PGP Class of ’17, Sarthak has also been published about in the leading financial newspapers such as The Financial Express as possibly the youngest Indian to have completed the courses of CA, CS and CMA along with a graduate degree in Financial & Investment Analysis from University of Delhi, all by the age of 23 years.