...Meaning of Service Marketing A Service is an economic activity that is intangible or not be touched, not be stored, and not be owned. Postal service delivering mail is a Service, and the use of expertise like person visiting a doctor is also a service. A service is consumed at the point of sale and does not result ownership. A product is material or tangible in nature, can be touched, can be stored, and a product can also be owned, but it is not so in case of a service. Defining Service Services include all economic activities whose output is not a physical product or construction, is generally consumed at the time it is produced, and added value in forms (such as convenience, amusement, timeless, comfort and health) that are essentially intangible. Defining Services Marketing:- Services marketing are a sub field of marketing, which can be split into the two main areas of goods marketing (which includes the marketing of fast moving consumer goods (FMCG) and durables) and services marketing. Services marketing typically refer to both business to consumer (B2C) and business to business (B2B) services, and include marketing of services like telecommunications services, financial services, all types of hospitality services, car rental services, air travel, health care services and professional services. The range of approaches and expressions of a marketing idea developed with the hope that it be effective in conveying the ideas to the diverse population of people who receive...
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...Running head: MEDSCAPE INDIA INC. Medscape India Inc. Mohinder Deol Baker College International Business BUS401 Mary Stuart-Linthwaite August 11, 2008 Table of Contents Abstract …………………………………………………………………………..3 Introductory Section……………………………………………………………...4 Purpose of Study........................................................................................6 Limitations of Study……………………………………………………...6 Definition of Terms………………………………………………………7 Review of Literature……………………………………………………………...7 Discussion..............................................................................................................13 Review of Findings……………………………………………………….13 Interpretation/Analysis of Findings………………………………………18 Summary and Conclusions……………………………………………………….27 References.......................................................................................................…...30 Abstract Medical tourism, where patients travel overseas for operations, has grown rapidly in the past decade. High costs and long waiting lists at home, new technology and skills in destination countries alongside reduced transport costs and Internet marketing have all played a role. With the best infrastructure and medical facilities, comparable with any of the western countries, accompanied with the most competitive prices, treatment can be done in India at the lowest charges. The research suggests...
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...head: MEDSCAPE INDIA INC. Medscape India Inc. International Business BUS401 Table of Contents Abstract …………………………………………………………………………..3 Introductory Section……………………………………………………………...4 Purpose of Study........................................................................................6 Limitations of Study……………………………………………………...6 Definition of Terms………………………………………………………7 Review of Literature……………………………………………………………...7 Discussion..............................................................................................................13 Review of Findings……………………………………………………….13 Interpretation/Analysis of Findings………………………………………18 Summary and Conclusions……………………………………………………….27 References.......................................................................................................…...30 Abstract Medical tourism, where patients travel overseas for operations, has grown rapidly in the past decade. High costs and long waiting lists at home, new technology and skills in destination countries alongside reduced transport costs and Internet marketing have all played a role. With the best infrastructure and medical facilities, comparable with any of the western countries, accompanied with the most competitive prices, treatment can be done in India at the lowest charges. The research suggests that India represents the most potential as a medical tourism market in...
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...PROJECT REPORT ON MEDICAL TOURISM WITH REFERENCE TO INDIA Origin and Evolution of Medical Tourism Medical tourism is actually thousands of years old. In ancient Greece, pilgrims and patients came from all over the Mediterranean to the sanctuary of the healing god, Asklepios, at Epidaurus. In Roman Britain, patients took the waters at a shrine at Bath, a practice that continued for 2,000 years. From the 18th century wealthy Europeans travelled to spas from Germany to the Nile. Since the early nineteenth century, when there were no restrictions on travel in Europe, people visited neighboring countries in order to improve their health. At first, mere traveling was considered to be a good therapy for mental and physical well-being. In the 21st century, relatively low-cost jet travel has taken the industry beyond the wealthy and desperate. Later, mostly wealthy people began traveling to tourist destinations like the Swiss lakes, the Alps and special tuberculosis sanatoriums, where professional and often specialized medical care was offered. In this century, however, medical tourism expanded to a much larger scale. Thailand, followed by India, Puerto-Rico, Argentina, Cuba and others quickly became the most popular destinations for medical tourists. Complicated surgeries and dental works, kidney dialysis, organ transplantation and sex changes, topped the list of the most popular procedures. It was estimated that in 2002, six hundred thousand medical tourists came to Bangkok and...
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...MEDICAL TOURISM CASE Saksham Gupta | 39C | Saurabh Kumar | 41C | Deepti Singh Chauhan | 18C | Supriya Deshpande | 49C | Rajat Maloo | 37C | INTRODUCTION Medical tourism represents a worldwide, multibillion-dollar phenomenon that is expected to grow considerably in the next decade. During 21st century, India emerged as a favorable destination for obtaining medical services. This change was a result of overall development in technology, education and services due to which similar skills in medical professionals and services could be obtained in developing countries such as India at comparatively low prices. Internet acted as the biggest facilitator in this change. Not only doctors, but patients also took advantage of free flow of information about diseases and their cure. WTO also contributed significantly to the increase in trade of medical services under following 4 modes:- 1. Medical Travel – People travel abroad to obtain healthcare 2. Cross - border delivery of trade – Shipment of laboratory samples, diagnosis and clinical consultation 3. Setting up of health-care services overseas – Setting up hospitals, clinics and diagnostics center 4. Movement of health-care professional from one country to other – Movement of physicians, specialists overseas The proportion of the elderly population is showing a progressive growth especially in the developed countries and with this trend the demand for healthcare facilities is likely to grow but the number...
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...Medical Tourism Industry - Advantage India C.B. Venkata Krishna Prasad* Traveling abroad for health is not a new phenomenon. Medical tourism is actually thousands of years old. In ancient Greece, pilgrims and patients came from all over the Mediterranean to the sanctuary of the healing god, asklepios; the god of healing was located at Epidaurus. In roman Britain, patients took the waters at a shrine at bath, a practice that continued for 2,000 years. During 18th century wealthy Europeans used to visit health resorts in North Africa. But in the past seven years or so, the movement has accelerated sharply. It is growing rapidly and turning out to be an immense business opportunity for nations which have the strategic advantage of having resources in terms of medical technology, infrastructure and right human resources. Cross-border travel for health reasons is a $40 billon market and growing at over 15% a year throws up huge opportunities for anyone smart enough to tap it. Broadly defined as a collaboration of medical services with the tourism industry, healthcare tourism offers cost effective medical services for individuals who cannot afford these services in their country due to high costs or to people who are tired by long waiting times. Also patients from countries, where treatment is not available, can avail the benefits of healthcare tourism. Countries that are actively promoting healthcare tourism include Belgium, Singapore, Malaysia, India, Thailand, Cuba, Costa Rica,...
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...M U M B AI SILICON VALLEY BANGA LORE SINGA P ORE MUMBA I BK C NE W DE L HI MUNICH The Indian Medical Device Industry Regulatory, Legal and Tax Overview March 2015 © Copyright 2015 Nishith Desai Associates www.nishithdesai.com The Indian Medical Device Industry Regulatory, Legal and Tax Overview About NDA Nishith Desai Associates (NDA) is a research based international law firm with offices in Mumbai, Bangalore, Silicon Valley, Singapore, New Delhi, Munich. We specialize in strategic legal, regulatory and tax advice coupled with industry expertise in an integrated manner. We focus on niche areas in which we provide significant value and are invariably involved in select highly complex, innovative transactions. Our key clients include marquee repeat Fortune 500 clientele. Core practice areas include International Tax, International Tax Litigation, Litigation & Dispute Resolution, Fund Formation, Fund Investments, Capital Markets, Employment and HR, Intellectual Property, Corporate & Securities Law, Competition Law, Mergers & Acquisitions, JVs & Restructuring, General Commercial Law and Succession and Estate Planning. Our specialized industry niches include financial services, IT and telecom, education, pharma and life sciences, media and entertainment, real estate and infrastructure. Nishith Desai Associates has been ranked as the Most Innovative Indian Law Firm (2014) and the Second Most Innovative Asia - Pacific Law Firm (2014)...
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... COURSE: BACHELOR IN BUSINESS ADMINISTRATION TOPIC: PRIVATISATION IN THE INDIAN HEALTHCARE SECTOR CONTENTS 1. INTRODUCTION 1.1. PRIVATIZATION 1.2 INDIAN HEALTHCARE INDUSTRY 1.2.1 DRIVERS FOR GROWTH OF HEALTHCARE 1.3 PUBLIC HEALTHCARE IN INDIA 1.4 PRIVATE SECTOR IN THE INDIAN HEALTHCARE DELIVERY SYSTEM 1.4.1 GOVERNMENT POLICIES TO SUPPORT THE GROWTH OF PRIVATE SECTOR 1.4.2 FDI IN THE INDIAN HEALTHCARE 1.4.2.1 STATUS AND PROSPECTS FOR FOREIGN INVESTMENTS IN HOSPITALS IN INDIA 1.4.2.2 CONSTRAINTS TO FOREIGN INVESTMENTS IN HOSPITALS IN INDIA 1.4.2.3 FOREIGN PRESENCE IN HOSPITALS IN INDIA 1.4.2.4 SUMMARY OF PROS AND CONS FOR FINANCING SOURCES OF HOSPITALS OBJECTIVES 2. LITERATURE REVIEW 3. ANALYSIS OF THE IMPACT OF PRIVATIZATION IN THE HEALTHCARE SECTOR 3.1 QUALITY AND PRIVATE HEALTHCARE SERVICES 3.2 IMPACT OF FOREIGN INVESTMENTS IN HOSPITALS IN INDIA 3.3 CONSUMER PERCEPTION OF PRIVATE SECTOR 3.4 EMERGING TRENDS IN HOSPITALS IN INDIA: CHALLENGES AND INTERVENTIONS 4. CONCLUSION 5. ACKNOWLEDGEMENT 6. BIBLIOGRAPHY 1. INTRODUCTION 1.1 PRIVATIZATION Privatization can also be called denationalization or disinvestment. All three terms describe a situation where a...
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...Medical Tourism-A Ray of Hope By R.V.Naveenan,Asst.Prof, T.John Institute of Management and Science Ph:9486129730,Email:naveenan.08mba@gmail.com Abstract Medical tourism is broadly defined as the act of traveling to obtain medical care in another country or region of the same country where specialized or economical medical care is available complemented with wellbeing and recuperation of acceptable quality with the help of support system. The World Health Organization (WHO) defines medical tourism as tourism associated with travel to health spas or resort destinations where the primary purpose is to improve traveler’s physical wellbeing through a process comprising physical exercises and therapy, dietary control, and medical services relevant to health maintenance. India has become a destination of choice for patients from all hemispheres as the destination of choice for a wide range of medical services and surgical procedures. In addition to the tangible expertise of medical and nursing staff, allied health services staff, the intangible compassionate care of support services staff draws patients to tertiary care hospitals in India. Equally important is the lower cost of world class treatment at a fraction of what it costs in the Western or so-called developed countries. In addition, there is no waiting period for any of the major surgical interventional procedures in the corporate hospitals in India. There are several dynamic internal and external factors which hinder medical...
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...CONFIDENTIAL Business Plan Integra Medical Services (IMS) “The pillar that upholds the standards of health care.” This business plan is the sole property of Integra Medical Services Inc. and is therefore confidential. The information and assumptions contained herein are subject to change and any projections made based on aforementioned information are subject to unknown risks. This information is the result of extensive research and the proposed business venture is derived from this research. Proposed by: Adama LaMon Robins Emmanuel 500 University Avenue West Minot, ND 58707 (757)877-2799 2 TABLE OF CONTENTS 1. EXECUTIVE SUMMARY…………………………………………………………… 4 Country Profile Company History Product Description Marketing and Sales Development Operations Management Goals and Strategies Financial Summary 2. COUNTRY PROFILE………………………………………………………………… 5 Business Customs Product Preferences Buying Habits Prices Disposable Income Competitors Types of Medical Care Country’s Economic Profile Consumer Behavior Business Relationship with United States Restrictions for the Country Export and Import Prospects 3. COMPANY HISTORY……………………………………………………………....... 8 History and Current Statues Markets and Products Objectives 4. SERVICE DESCRIPTION…………………………………………………………… 11 Description of Services Provided Market Comparison Proprietary Rights Stage of Development 3 5. MARKET AND SALES………………………………………………………………. 15...
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...GAGANDEEP SINGH VINAY KUMAR BHARDWAJ VIJAYVARGIA RAJOJYOTI BANIK SUBMITTED TO --- Prf. RAJESH VERMA 12/8/2009 Industry analysis of Apollo hospital Health care Industry in India In India, the Healthcare system is split into a public sector, a private sector and a wide network of informal healthcare providers operating together in a large and unregulated network. This irregularity has caused wide disparities in access, especially in regional and rural distribution of healthcare infrastructure. Currently, the Indian healthcare sector is valued at Rs.1, 360 (US $34) billion roughly 6 per cent of GDP. The healthcare business is projected to grow to over Rs.1, 600 (US $40) billion or 8.5 per cent of GDP by 2012, according to Price Waterhouse Coopers (PwC) report, 'Healthcare in India: Emerging market report 2007'. The Hospital Industry Some Facts • India‟s healthcare industry is currently worth Rs 73,000 crore which is roughly 4 percent of the GDP. The industry is expected to grow at the rate of 13 percent for the next six years which amounts to an addition of Rs 9,000 crores each year. • • • • • The national average of proportion of households in the middle and higher middle income group has The population to bed ratio in India is 1 bed per 1000, in relation to the WHO norm of 1 bed per 300. In India, there exists space for 75000 to 100000 hospital beds. Private insurance will drive the healthcare revenues. Considering the rising middle and higher middle Over the last five...
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...Promoting Healthcare Tourism in India Case Briefs With the world-class medical expertise, nursing care, and the low cost, which is almost one-sixth of treatment expense in developed countries, healthcare tourism in developing countries shows a great trend in the future. In the view of the huge and ever-expanding market, a number of countries were actively promoting healthcare tourism, including Thailand and Singapore, etc in Asia. How should India position itself as a healthcare tourist centre? There were several important strategies to be addressed in the proposal. India had strong competitive advantages to take on an increasingly important role in this sector. However, the current reliance on players in the private sector to foster and meet overseas demand was not sufficient to maximize business opportunities. Support from the Indian government in terms of a comprehensive, well-designed expansion plan was also needed. Furthermore, India should clarify following alternatives: Should India emphasis more on capabilities in complex medical treatments or its vacation aspect? Should it aim at attracting foreigners from nearby countries or long-haul visitors from America and Europe? India has a long history on the tourism in term of culture, architecture, yoga, pilgrimage. As new developing high-tech country, India also has advantage in medical treatment because of its competitive medical price and service quality. However, medical treatment needs strong support by the government...
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...MEDICAL TOURISM ABSTRACT A growing number of people are discovering the benefits of medical tourism. In the U.S.A and throughout the western world, it is becoming common knowledge that medical tourism offers a cheaper option for receiving medical treatment without compromising on quality1. The costs of medical treatment and state-of-the-art technology are the most important factors for Americans in making a decision to travel abroad for treatment2. The cost-conscious factor and availability of accredited facilities have led to the emergence of several global medical tourism corridors3. Asia leads the medical tourism industry worth billions4. Amongst these corridors of health, India has the second largest number of accredited facilities3. INTRODUCTION: The health care industry within the United States continues to face unprecedented increases in costs, along with the task of providing care to an estimated 33 million uninsured or underinsured Americans, which constitutes about 10.4% of the U.S. population7. The demand for low-cost health care services is driving patients to seek treatment on a globally competitive basis, while balancing important quality of care issues. The trend, known as medical tourism, which refers to traveling to another country for medical care, is on rise8. In the past few years, Asia has taken the lead as one of the most preferred destination for medical value travel9. Forbes reported that medical tourism is growing by 20% per year. The latest...
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...Health Care in India, Ireland, South Korea, and United States Global Health Abstract The World Health Organization (WHO) defines universal health coverage as everyone having access to needed health services without the financial hardship that can follow (WHO, 2013). Health care should be accessible to all citizens, appropriately funded, provided by trained professionals, and affordable to all citizens. Health care changes from country to country in multiple aspects including: cost, availability, and private health care verses socialized health care. The cost of health care and government assisted health programs can take a big toll on the overall spending and reliability of a countries health system. Each country has their own strengths and concerns in regards to their health system. There is not one health system that will work for every country because every country has a different government organization, differences among the population, and other country wide concerns that impact the country as a whole. India is the seventh largest country located in South Asia populating about 1.2 billion people. It is roughly one third the size of the United States and the capital New Delhi still resides the majority of the population, housing about 22 million people (CIA, 2013). India does not have a universal health care system in place, although the government is working on a plan (Luthra, 2012). India has government funded public hospitals and private hospital...
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...Health care services in India are facing different challenges from inadequate finance and poor management to inequity in terms of quality and access (Ramani-Mavalankar, 2006). However, corruption is that underlying problem, which if not tackled, would prevent from resolving all other kinds of difficulties (Potter, 2003). Therefore, in this essay I have endeavoured to understand the forms in which corruption is prevalent in Indian Healthcare Services. Along with this, I have also tried to suggest certain measures which would help tackle corruption. The former president of Medical Council of India, Mr.Ketan Desai has been charged with corruption both the times he has been elected for the post. Despite his removal in 2001 following the charges, he was re-elected by the Government of India in 2009 (Pandya 2009). Thereafter in 2011 Mr Desai was arrested by the CBI for accepting a highly culpable amount of bribe from two medical colleges seeking recognition. (Chauhan, 2011). Mr Desai justifies the definition of corruption by Transparency International, as the result of misused powers to benefit personally instead of doing public welfare (Vian, 2007). Moreover, this definition would be appropriate for the Government of India who elected a person with history of fraud to be the president of the central health governing body of the nation. Health sector, in any nation, is a vast network involving different participants at each stage ( Hussmann,2011). Therefore it becomes difficult...
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