Summer Internship Project“Promotion of Medical Tourism” at Jonjua Overseas (P) Ltd.

Naman VashishtClass MBA – III A

Gyan Jyoti Institute of Management & Technology

The summer internship was undertaken under Jonjua Overseas (P) Ltd which provides various services such as startup consultancy, legal and accounting services to its client’s abroad. Jonjua Overseas(P)Ltd. was incorporated on Feb. 16, 1993.

The company is promoted by Major Harjinder Singh Jonjua (Retd.). The company has since incorporation served clients in five continents from 1993.

SERVICES PROVIDED BY THE COMPANY 1. Startup Consultancy.

 2. Import and Export Consultancy.  3. International Project Finance and IPO. 4. Accounting Outsourcing.  5. Website and Development. 6. Cross Border Marketing. 7. Brand Building. 8. Business Plan Writing. 9. Offsite Legal Support Services.

Company Profile

  The project which is undertaken is namely “Promotion of Medical

Tourism” concerns with the topic of marketing and promotion of medical tourism in India which also involves in depth research and analysis of the statistics pertaining to the business created by medical tourism in our economy, growth of the medical tourism industry and competition faced by India from the other nations across the world offering affordable quality healthcare.

“Medical Tourism” can be defined as the process of travelling outside the country of residence for the purpose of receiving medical care.

The project had been undertaken during my internship training period at Jonjua Overseas (P) Ltd. which is a business consultancy and legal firm which also provides start up consultancy services to its clients.

Project Introduction & Objectives

Under my training I was required to get training under the marketing and promotions for the new project start up based on creating business through medical tourism and involved the use of branding and promotions strategies and also various marketing tools to create utility and bring patients from abroad for the purpose of medical treatment.

Objective of the Study : To study the market environment of the medical tourism business and global healthcare scenario across the world and to study the strength weakness,oppurtunities and threats of medical tourism industry in India.

Data Source  Primary data : -The primary data are those data, which are collected

afresh and for the first time and thus happen to be original in character. There are some important methods:

Observation Method Data collected at research at internship. Secondary data: - it means data that are already available i.e. they refer

ro the data, which have already been collected and analyzed by someone else. There are some important methods :

Books, magazines and newspaper Reports prepared by experts Articles on the internet.

Research Methodology (Process)

Sample Procedure Since my research is of exploratory type, I have collected information in the

form of expert surveys, secondary data and qualitative research. I obtained the secondary data from reports printed by experts and other books, magazines and online articles.

I used secondary data which is authentic and genuine in character so as to have fair information.

Limitations Collecting information was to be conducted from selected reports of experts

who knew the actual dynamics of medical tourism business industry. It was difficult to get specific details of statistics and growth numbers

relating to number of medical tourism. Various reports indicated different numbers and statistics relating to the

same area of concern. Time Constraint was one of the limiting factors

o Medical tourism is a growing sector in India. India's medical tourism sector is expected to experience an annual growth rate of 30%, making it a $2 billion industry by 2015.

o In the year 2004, India had received 1,50,000 medical tourists which grew by a whooping 33% in 2008 to 2,00,000.It is estimated that India will receive half a million medical tourists annually by the year 2015.

o Most estimates claim treatment costs in India start at around a tenth of the price of comparable to treatment in Britain and is almost 30% lower to that in Western countries.

The most popular treatments sought in India by medical tourists are bone-marrow transplant, cardiac bypass, eye surgery and hip replacement and alternative medicine.

India is known in particular for heart surgery, hip re-surfacing and other areas of advanced medicine.

Analysis & Discussion

The Benefits of Medical Tourism in India – Our USPS

World Class Medical Facilities Conformity to International Standards Fluency of our Doctors in English Language Use of latest Technology Equipment Holistic Environment & Personalized Service No waiting periods Low Consultation Fee Low Treatment costs

Video Content Source : !ncredible India

Medical Tourists are generally residents of the industrialized nations of the world and a major chunk of them belong to countries like:

The United States Canada The Great Britain Western Europe Australia Middle East Japan

As the medical tourism industry is booming people from other nations are travelling abroad for quality healthcare services at affordable costs for various surgical and non-surgical treatments.

The Medical Tourism Market

Rank Country Rank Country

1. Thailand 6. Malaysia

2. Mexico 7. Brazil

3. USA 8. Turkey

4. Singapore 9. Taiwan

5. India 10. Costa RicaGlobal Competition

Details Wellness tourism

Alternative systems of medicine

Cosmetic Surgery

Advanced and life savings healthcare

Services offered

Spas, Stress relief, rejuvenation centres

Ayurvedics, Siddha Treatment for diseases e.g. Arthritis, Rheumatism

Dental Care, Plastic Surgery, Breast Enhancement,Tummy Reduction, Skin Treatment

Open transplants, cardio vascular surgery, Eye treatment, Hip Replacement, In vitrio fertilization

Profit Margin Low Low Medium HighKey Competitors

Thailand, South Africa

South Africa, Cuba, Thailand

Singapore, Jordan, Thailand

India’s Strength

Low-Thailand has captured a significant share of the market

High – Kerala is poplar for this service

Low – South Africa and Thailand leads in plastic surgery

High – India has strong image on medical tourism

India Key Competencies/Competitor Analysis

Major big players in this industry (Fortis Healthcare,Apollo,Max HealthCare, Breach Candy ) have a well spread network and associations with the medical tourism agents and facilitators across the globe which helps them to fetch the patients from the Middle East, UK, North America, Europe and African Nations.

Summary Although India is a medical tourism hub for developed & western countries seeking

medical treatment at fraction of the cost, latest technology, skilled doctors, fluency of medical staff in English and conformity to international standards in healthcare, we do face stiff competition from other countries such as Costa Rica, Thailand, Mexico, Singapore and Turkey.

In India, there is lack of a single, unified body that works towards a common goal and promoting India’s Medical Tourism

Although some private groups like Apollo. Fortis Healthcare and Max Hospitals are big well promoted “global brands” well connected to a large web of well known Medical Tourism Facilitators and agencies are able to attract quite a lot of international patients and build a good market reputation.

Conclusions Overall we conclude that Medical Tourism is not only one stop solution to

international patients seeking affordable care, it is also a great way of integrating India with other world economies which surely does boost our economic growth.

In the words of Forbes India, Medical tourism is India’s “next crown jewel”

Summary & Conclusions

Creating an international public image of India as a viable healthcare destination which will need the support of the government and also the efforts of private healthcare.

What India should do is to use its USP’S in this field to position themselves in the market giving a strong statement of being an affordable medical treatment and wellness destination, utilizing our large pool of talent of skilled doctors fluent in English, latest technology developing the required management and entrepreneurial resources to take bold initiatives of projecting our medical facilities to be at par with the global benchmarks of quality healthcare.

India also needs a single an established board formed by tourism authorities, chambers of commerce, ministries of health and private organizations with one shared objective. (Practice undertaken by countries like Singapore, Korea & Malaysia)

Recommendations