Medical tourism – The imperfect market

December 23, 2013

Medical tourism is a global business driven by patients looking for the cheapest price….. So, goes the mantra still sold at conferences to wide-eyed politicians and businesses, seeing an easy way to make more money from their healthcare services. The only problem with this mantra is that medical tourism is not global, it is not a perfect market and customers do not flock to the lowest price country or hospital. India is one of lowest price countries in the world and it has gone from a medical tourism leader to a struggler, within five years. (IMTJ)