Introduction

You2We TravKare Private Limited has been established as an end-to-end travel solutions company for inbound and outbound travelers. We are especially focusing on medical tourism by forming partnerships with hospitals, tour operators and other stakeholders in the target geographies. The tourism industry has undergone rapid growth of unsurpassed nature over the last several decades. This has mainly been due to the advent of a 'borderless' world and increased information dissemination about the majestic sceneries, increased incomes etc throughout the world, with the Asian region being no exception. The tourist penetration here has been immense be it inbound tourist traveling in for business, for leisure or for healthcare and it follows the similar pattern in for outbound tourism as well. Globally, Medical Value travel (MVT) is a USD 10.5 Bn industry which is estimated to grow to USD 32.5 Bn over the next 5 years at CAGR of 17.9 percent. The increasing numbers of ageing and uninsured population worldwide is struggling against the challenges of cost, quality and access to healthcare which India, fortunately has world class. India is on the brink of penetrating a lucrative market in a rapidly growing industry and that is why we chose to focus on as this healthcare definitely has immense potential. We have facilitated medical treatment of more than 1200 overseas patients.

 

Objective / Why Medical Tourism?

 

India has emerged as one of the most sought after destination for medical tourists across the globe owing to its high value proposition in terms of quality healthcare, pool of specialists and availability of alternate treatment options such as ayurveda and yoga. The company expects to reach its desired numbers in the very first year itself and does not anticipate serious cash flow problems and is aggressively looking forward to expand its footprint in South Asia and beyond.
While it was only the neighboring countries from where the flow of medical tourists started, and the reason was lack of specialized healthcare facilities, later, NRIs from US, UK, and other developed nations, were making a beeline to corporate hospitals in India for treatment. The reason was simple – extremely low cost of healthcare services compared to that in their countries of residence. Over the years, high confidence levels in the quality and efficacy of healthcare services in India has been instrumental in boosting the number of international patients coming to the country.
From a pricing point of view, major medical procedures in India are way below than that in not only the US and Britain, but also 40-70% cheaper than that compared to its the nearest competitor – Thailand.