Medical tourism is on the rise in the United States. Patients are traveling to other countries to get affordable medical care. This has created a need for companies that facilitate medical tourism.
If you’re thinking of starting your own company to help patients find affordable medical care, this article will give you the information you need to get started. However, you need to know about the industry first.
The Medical Tourism Industry
The medical tourism industry is growing rapidly. In 2020, it was worth $54.4 billion, and by 2025, it is estimated to be worth $133 billion. This growth is due to the increasing cost of healthcare in the United States.
Medical tourism is not just for people who want to get surgery. Patients can also travel for dental care, fertility treatment, and other medical procedures.
There are three types of companies in the medical tourism industry:
- medical tourism providers
- travel agencies
- medical tourism facilitators
Medical Tourism Providers
Medical tourism providers are hospitals, clinics, and other healthcare facilities that offer medical care at a lower cost than in the United States.
Most providers are located in developing countries, such as India, Thailand, Turkey, and Mexico. However, some are located in developed countries, such as Germany and Israel.
Provider facilities vary in quality. Some are world-class hospitals that meet or exceed American standards. Others may be less expensive but may not have the same level of quality.
Travel agencies offer medical tourism packages that include airfare, hotel accommodations, and medical care. They work with providers to find the best medical care and travel deals.
The agencies typically do not provide medical care themselves. Instead, they work with hospitals and clinics worldwide to find the best deals for their patients.
Medical Tourism Facilitators
Medical tourism facilitators help patients find the right provider for their needs. They have a database of providers and recommend the best one for each patient.
Facilitators usually charge a fee for their services. This fee is either paid by the patient or the provider. This fee is typically a percentage of the total cost of the procedure. This is the type of medical tourism company we will discuss in this article.
How do you start a medical tourism facilitating company?
You need to do a few things to start a medical tourism company.
1. Determine what services you will offer
2. Register your company
3. Establish relationships with providers
4. Market your company
Determine What Services You Will Offer
The first step is to determine what services you will offer.
Your company may offer just one service, such as finding a provider for a specific type of surgery. Or, you may provide various services, such as finding providers for all kinds of medical procedures. You should also consider whether you want to offer places to stay, like hotels or if you want to focus on medical care.
Register Your Company
Registering your company is essential, especially if you want to work internationally, which is required for this field. To do this, you will need to file Articles of Incorporation with your state and obtain a business license. You may also need to register with the Secretary of State’s office and/or the Department of Revenue.
Establish Relationships With Providers
You will need to find providers who offer high-quality care at a lower cost than in the United States. You can do this by contacting hospitals, clinics, and other healthcare facilities around the world. If you want to look into some employees, you can visit nursing schools and universities to help you start. You can also use the internet as a resource.
If you don’t know where to start, you should visit conventions, trade shows, and other events related to medical tourism. There, you can meet providers and learn about their services. Build your connections, and remember, you can’t work alone in this industry.
Marketing Your Company
The last step is to market your company.
You will need to create a website, print marketing materials, and start a social media campaign. You should also contact travel agencies and other companies that may be interested in partnering with you.
One way to market your company cheaply is to create a website. This will cost you around $500, depending on the design and hosting company you choose. You can also print marketing materials such as brochures and flyers for about $1,000. And, you can start a social media campaign for free. However, to really make an impact, you will need to invest in paid advertising. This can be expensive, but it is a great way to reach a large number of people quickly.
So, if you’re interested in starting a medical tourism company, these are the steps you need to take. You can have a successful business in this growing industry by following these tips.