Trying
to convince your bank manager you need a $10,000 loan for a breast enlargement
is potentially a good way to make a boob of yourself. Instead, hundreds of
people avoid the conversation each year by heading overseas to have the surgery
performed for a fraction of the amount it would cost in Australia.
None of this is new to Meditour managing
director, Robert Graham, who runs his own medical tourism company from
Brisbane’s south western suburbs. But this company is a far cry from your
average travel wholesaler. There are no set itineraries and brochures don’t
really work, which is hardly surprising when you consider medical procedures
don’t really lend themselves to glossy pictures. And yet Meditour deals with
around 300 clients each year, all of whom are seeking cosmetic or dental
surgery on a budget.
A
SLICE OF THE MARKET SHARE
The idea to start a medical tourism company
was conceived around eight years ago when Graham found himself in urgent need
of extensive dental work. Facing a $20,000 bill, he was unable to find the
money, but wasn’t going to give up easily. Having travelled extensively
throughout the Philippines over 30 years, he figured he could get the work done
abroad without having to re-mortgage his house. Graham’s dental improvements
went off without a hitch and even left him with enough cash to enjoy a relaxing
holiday after the work was done.
He then figured others would probably
appreciate the same opportunity, and created a business plan to fill a hole in
the market. The early days were challenging, but he still managed to reel in 50
customers in the first 12 months and is now dealing with hundreds of customers
each year.
UNDERSTANDING
THE PROCEDURE
Here’s how it works. Graham first discusses
what customers are after before compiling a medical file and forwarding it to a
doctor in the Philippines for a quote. He then bundles a list of all the
medical appointments together with a holiday itinerary and forwards it to the
customer for approval.
While the Philippines may seem a long way to
go for medical treatment, the big drawcard is the price, which Graham says can
be slashed from $30,000 in Australia to just $5000 abroad. He’s convinced the
quality is nothing short of Australian standards, but there are a few finer
points to consider. The first few days are dedicated preparation time before
the medical work is completed, and patients are not advised to leave the
Philippines until all the work is done.
However, no medical procedure is insured if
something goes wrong and customers can’t pay a quick visit to their surgeon for
a check-up a few weeks down the track.
SURGICAL
SLIP UPS
The program has worked “most of the time”, but
Graham admits there’s been a few hiccups along the way. For instance, he
recalls one client whose dental crown fell off when he returned home, and
another whose doctor pulled out of the procedure at the last minute. Luckily,
some doctors will cover repair work if it’s needed back in Australia, but
customers are not covered if their doctor decides not to go ahead with the
surgery. They won’t have to finance any medical expenses, but they will not be
able to recoup the cost of their holiday.
Mishaps aside, Graham is adamant that Meditour
is “legitimate and safe”, and stresses that he only uses doctors who are
accredited by the Filipino government. He also emphasises that clients aren’t
hassled into making a booking and are free to make up their own minds.
Not surprisingly, Graham is no stranger to
sceptics. In fact, he refuses to advertise because most of the general public
fall into this category. But he believes a lot of the doubt comes from fear of
the unknown, which could be prevented if people looked at the details with an
open mind.
With Meditour bookings rising by a steady 10%
each year, Graham is confident medical tourism is a burgeoning market. But he’s
certain that if travel agents embraced the concept wholeheartedly, the growth
in the sector could become exponential.
Louise Wallace
Business & Investment Opportunities
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