MANILA, Philippines – The Philippines may
have found its next sunrise industry in the medical tourism field.
A study titled “Philippine Medical Tourism
Compendium 2011: Facts, Figures &
Strategies” estimated that the country earned a total of $1.30 billion from
health care and wellness services in the period of 2006 to 2010. The study also
projected that the Philippines has the potential to earn as much as $1 billion
in additional annual revenue by 2018 or earlier if it would invest thoroughly
on healthcare infrastructures, more open and liberal travel arrangements for
medical tourists and lay down an extensive international marketing promotions
campaign.
The study, conducted by healthcare business
intelligence firm Healthcore, indicated that the earnings were from overseas
foreign tourists and balikbayans who visited during the period of the study.
The research noted that the Philippines has a
high potential to grab a larger market share in the global medical tourism
industry based on the following criteria: High level of quality in healthcare;
Competitive cost of healthcare services; Large supply of competent healthcare
professionals; English communication skill, and culture of compassion and
service; and Geographical proximity to countries that have expensive medical
services such as Guam and Micronesia, Australia, Japan, South Korea and Taiwan.
The study noted that top tertiary hospitals in
the Philippines have state-of-the-art medical and hospital facilities and were
staffed with highly qualified medical consultants, doctors, nurses and other
personnel. It added that at least eight hospitals and clinics were now
accredited by various international accreditation agencies.
The Philippines also has a competitive edge
since these world-class healthcare services generally cost lower than in most
developed countries like the United States and Canada.
The Philippines, being a major source of
medical professionals to the global workforce, boasts of world-class medical
doctors, highly qualified nurses, therapists, and medical technicians.
The Filipinos’ high level of English
communication skills, and unique culture of compassion and service – the same
competitive advantage that made the country one of the top BPO providers in the
world – will also help place the Philippines among the top global healthcare
providers.
International research firm Deloitte, the
research added, has identified the Philippines as one of the emerging players
in the multi-billion dollar industry, which currently is dominated in Asia by
Singapore, India, Malaysia and Thailand.
The study concluded that medical and tourism
sectors and other related industry stakeholders should work together and
further develop broad-ranging strategies and facilitate the implementation of
programs in the field of healthcare infrastructure and service, likewise, the
government should liberalize visa restriction for medical travelers and an
aggressive international marketing and promotions campaign should be launched
in order to catapult the Philippines in the elite circle of medical tourism
providers.
Kate Evangelista
INQUIRER.net
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