With the rise in disposable income and changing lifestyle of individuals, demand for proper healthcare facilities has increased drastically thus a lot of scope of development and growth can be seen in the industry. Need of proper infrastructure in the healthcare industry has been one of the major pre-requisite and thus the amount of investment […]

As part of the World Health Organization’s “Health Care for All by 2000,” the Indian government is working to improve the quality and accessibility of medical care. India aims to increase the number of hospital beds, increase new hospital construction, and acquire advanced technologies, substantially.Domestic production consists primarily of low technology products, & the demand for high technology devices is met predominantly by imports. At present, the three leading exporters of medical devices to India are the United States, Japan, and Germany. India still relies on foreign involvement for high-technology and highly specialized areas such as equipment for plastic surgery, cancer diagnosis and medical imaging.

Health Tourism can simply be defined as people traveling across borders to obtain or to give health care services. It is a combination of health treatment & tourism. Over 50 countries have identified medical tourism as a national industry. Services typically sought by travelers may include specialized surgeries such as joint replacement (knee/hip), cardiac surgery, dental surgery, and cosmetic surgeries. However, virtually every type of health care, including psychiatry, alternative treatments, convalescent care and even burial services are available. The reason Health tourism is gaining momentum include the high cost of health care, long waiting time, the ease and affordability of international travel, and improvements in both technology and standards of care in many countries.Many surgery procedures performed overseas cost a fraction of the price they do in America. Health tourism providers have developed as intermediaries to unite potential medical tourists with provider hospitals and other organizations. They also provide assistance to patients with pre- and post-travel medical issues & resources for follow-up care upon the patient’s return.

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Labor Cost Arbitrage is the biggest reason for the growth of the Indian outsourcing industry.The outsourcing revolution in India which started though technology outsourcing has spread to the legal,medical and other fields as well.Medical Billing,Coding and Transcription has become a big business besides Legal Outsourcing of work.Globalization of finance and trade has been much more rapid than the globalization of labor which faces many hurdles.The spread of Internet and improvement in Communications has made this hurdle moot as many high cost services in India are being performed virtually over the Internet.However this arbitrage which has bought billions in profits to global corporations and rise of new companies such as Infosys,TCS and others is disappearing.Rising Wage Inflation in India caused by a multitude of factors including the Bernanke Money Printing has led to shrinking of the margins.

MT India is a short form of Medical Transcription in India .Medical Transcription is one of the fastest growing outsourcing services in the Health Industry and is being increasingly outsourced the the world’s top off shoring destination India.Note this provides a win-win for both the parties as the medical services gain by lowering their costs through outsourcing of a basic rudimentary service at a much lower price while the outsourced destinations gain through increased employment and labor.There are a number of companies providing end to end medical outsourcing services in India.Note Medical Billing Companies in India are increasing at a rapid rate and growing in size as well.Though much smaller than their technology outsourcing cousins,Medical Transcription,Coding and Billing Companies in India alongwith Legal Outsourcing Companies are a very fast growing niche in in the Indian Outsourcing Industry.