Skip to main content

Medical Tourism in India

 
 

Rise of Medical Tourism in India

With rising health care costs in developed countries like United States and United Kingdom along with rising inflation in these countries, patients who cannot afford such an expensive health care costs are seeking medical treatments in countries which offer same treatments at a very low cost. In fact, celebrities, sportsmen & other people from western countries flock to such countries. This has given rise to medical tourism (or medical travel) which has now become a growing sector as it creates lots of job opportunities and adds to the growth of the country. And amongst the countries which offer low cost health care services, India is one country. Growth of medical tourism in India has been very rapid in the last 10 years and according to Confederation of Indian Industry over 1, 50, 000 patients travelled to India to seek health care services in 2005. And according to Ministry of Tourism, India, medical tourism growth in India is expected to see an exceptional growth rate of 30% by 2015 and set is to become a 2billion USD industry.

Advantages of Medical Tourism in India

1) The biggest advantage of medical travel in India is the low cost health care service

2) Technological advancements and highly educated doctors

3) Availability of latest medical instruments

4) High health care standards offered

5) No language barrier as English is widely spoken across India. Moreover many hospitals in India hire native translators for patients from African countries so that they can communicate effectively.

6) Relaxed visa rules

7) Visa on India arrival for patients from specific countries

8) Availability of low cost generic medicines

Disadvantages of Health Travel in India

Despite of above mentioned advantages there are few disadvantages of medical travel in India. Listed below are drawbacks:

1) Medical Malpractice: Misdiagnosis during the treatment can result in unforeseen damages even though hospitals provide malpractice insurance. And since travellers are not aware of the legal rules in India, this can cause further troubles.

2) Insurance Coverage: Your insurance coverage varies on the type of medical treatment taken. So before seeking any treatment understand all the facts to avoid any unnecessary expenses during your stay abroad. And since medical travellers are unaware of legal issues, it may cause problems to them since in countries like US & UK legal procedures are very transparent.

3) Post Operation Recovery: Most of the times after the medical procedures, patient has to do routine health check with the same hospital. But issues arise when the recovery time of procedure is longer and in such cases medical tourists in India have to arrange stays outside the hospital on their own.

4) Travel Cost: It is always recommended for medical tourists to accompany someone while travelling abroad for medical treatment. But this spurts the travel, accommodation and other bills.

Health Care Cost – India Vs USA

Here's the summary of important heart surgical procedure in India compared to US. (Source: American Medical Association)

HeartSurgeryCost-US&India

According to the projection by ASSOCHAM, medical tourism growth in India is set to rise and by the year 2015 – over 3, 200, 000 medical travellers will come to India to seek it's low cost health care services.

Invest Rs 1,50,000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing ELSS Mutual Funds

Top 10 Tax Saving Mutual Funds to invest in India for 2016 or Best 10 ELSS Mutual Funds in india for 2016

1. BNP Paribas Long Term Equity Fund

2. Axis Tax Saver Fund

3. Franklin India TaxShield

4. ICICI Prudential Long Term Equity Fund

5. IDFC Tax Advantage (ELSS) Fund

6. Birla Sun Life Tax Relief 96

7. DSP BlackRock Tax Saver Fund

8. Reliance Tax Saver (ELSS) Fund

9. Religare Tax Plan

10. Birla Sun Life Tax Plan

Invest in Best Performing 2016 Tax Saver Mutual Funds Online

Invest Online

Download Application Forms

For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

---------------------------------------------

Leave your comment with mail ID and we will answer them

OR

You can write to us at

PrajnaCapital [at] Gmail [dot] Com

OR

Leave a missed Call on 94 8300 8300

Popular posts from this blog

Stick to Good Fund Manager who Can Multiply Your Investment

A manager may be the difference between the best and worst funds. Here's how you can find the right one    Does a mutual fund manager make a difference to your investment? The answer may not be as easy as you think, since most best-performing mutual funds have moved away from individualistic fund management to process-driven methods, limiting the scope of an individual's role in investment decisions. In fact, many fund managers would speak at length about how the "system" their fund house has in place makes their task of picking stocks easy even though it restricts their freedom. Still, the question is important, especially after recent reports that the Securities and Exchange Board of India ( Sebi ) may ask fund managers to disclose to investors their track record of managing money. Let us take a look at the universe of large-cap funds over the past five years. According to Value Research, an independent mutual fund tracking firm, the topper in the category is DSP...

Tata Fixed Income Portfolio Fund dividend

Invest In Tax Saving Mutual Funds Online Download Tax Saving Mutual Fund Application Forms Buy Gold Mutual Funds Call 0 94 8300 8300 (India)       Tata Mutual Fund has announced dividend under the dividend option of Tata Fixed Income Portfolio Scheme B2 Plan A-DQ, Tata Fixed Income Portfolio Scheme B2 Reg-DQ and Tata Fixed Income Portfolio Scheme B2 Direct-DQ. The record date has been fixed as August 29, 2013. Happy Investing!! We can help. Call 0 94 8300 8300 (India) Leave your comment with mail ID and we will answer them OR You can write back to us at PrajnaCapital [at] Gmail [dot] Com --------------------------------------------- Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C. Invest Tax Saving Mutual Funds Onlin...

NRIs and direct taxes code (DTC)

DTC Proposes To Do Away With Special Provision That Allows NRIs Liberalised Duration Of Stay In Country      THE new direct taxes code could bring a large number of global Indians under the tax net, as it does away with a provision that allowed individuals to escape tax in any country citing double tax avoidance.    The new legislation, introduced in Parliament on Monday, says an individual shall be a resident of India in any financial year if he is in the country for more than 59 days in that year, and has been has been India for more 365 days in four preceding financial years. A number of Indian industrialists including Vedanta's Anil Agarwal and Essar's Ravi Ruia have acquired non-resident status over the years.    The DTC has only attempted to clean up the provision in line with the laws globally. A phrase "being outside India" in the existing income tax law exempted individuals who stay outside the country for six months from paying taxes. This was prone ...

How to gauge the risk profile of your mutual fund portfolio?

MUTUAL funds are considered to be an investment option for those who do not generally devote a lot of time to monitoring and managing their portfolios. Investors experience both good as well as tough times as far as mutual fund investments are concerned. But while evaluating the portfolio of their equity mutual fund holdings there are a few points that one should check to know about the level of risk that they are facing. Often there are situations where there is a higher risk than what was estimated initially. Here are a few ways to evaluate various risk levels. Individual holding exposure : The portfolio of the equity fund where one has invested or plans to invest needs to be scrutinised to see whether the risk levels are such that could lead to a larger volatility in the holdings. Depending upon this factor and the risk taking ability of the investor the choice about a particular fund as an investment should be made. One key point to watch out is whether there is a large ex...

Health insurance guide - Part I

Insurance, by definition, is morbid. What if I die suddenly? What if my home caught fire? What if I had to undergo expensive medical treatment? What if something that I thought happened only to others befell me? Insurers, who work with large samples, calculate the probability of such an event and, hence, the possibility of them having to pay out a sum of money to mitigate, to the extent possible, the effects of that disaster. However, the possibility of you undergoing some kind of expensive medical treatment during your lifetime is far more likely than you dying suddenly or your house burning down. Given that costs at private healthcare facilities, where you are most likely to land up, is high, and, doubling every four years 10 months or so, the rest of your money life could easily go out of whack if you had to incur such expenses. Just 12 per cent of India's population is covered with some sort of health insurance. Pared to the bone, for a comparatively small price, health insu...
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now