Dr Ashutosh Raghuvanshi, CEO of Fortis Healthcare, expects income from medical travellers to grow to between 12-15% of their total revenue by the end of 2024.
In an in-depth interview with India’s business news channel, CNBC-TV18, Dr Raghuvanshi said that currently, income from medical travellers represented 10% of overall revenue for Fortis.
He believes the potential from inbound medical travel is significant, supported by government’s Heal in India initiative. He is seeing international patients visiting India not only because treatments tend to be cheaper than close competitors like Singapore and Malaysia, but people are also coming for more complex work, due to earlier diagnostics happening as an originating country’s healthcare system improves.
He also noted ongoing challenges for India in attracting international patients, concerning general travel and social infrastructure surrounding hospitals.
Delhi, Mumbai, Chennai, Bengaluru (Bangalore), Hyderabad and Kolkata are the preferred destination cities for medical tourists arriving in India. 27% of India’s medical tourists head to Maharashtra, out of which 80% go to Mumbai. Chennai attracts 15% of incoming foreign patients while Kerala has 5-7%.
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