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Consumerization of the International Patient Experience & Opportunities for the Travel Sector Presented by Josef Woodman, Founder & CEO Patients Beyond Borders Well-Being and Medical Travel Conference Scottsdale, Arizona, 21 June 2012
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Why consider the medical travel market? $100 billion market by 2014 … Represents approximately 10 percent of the travel industry … Growing 20-35% percent annually … Combines travel and healthcare to create new, relationship-dependent customers
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Who are medical travelers? Approximately 600,000 US outbound patients … Mostly 50+, pre-Medicare … Usually have experience with international travel …
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Why are medical travelers different? Average cost for total experience is $15,000, including treatment, travel, hotel, in-country support, and amenities … Longer stays to accommodate diagonsis, treatment and recovery … Usually travel with a companion … Seeking trusted support for logistics
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Types of medical travelers Luxury travelers seeking mostly cosmetic surgery: large but declining market … Value travelers seek dentistry, orthopedics, cardiology, value cosmetic surgery: rising market … Access travelers seek treatments not available in the US: smaller but rising market
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Where are medical travelers going? Top destinations offer high-quality care, US- standards, cost savings, cultural familiarity, and easy access … Mexico and Costa Rica are the most-traveled destinations for dental and cosmetic care … India and Malaysia are top value destinations … Specialty destinations include Hungary, South Korea, Singapore, Thailand …
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Where are medical travelers going? Top medical vacation destinations include Cancun, Cabos, Bangkok, Istanbul, Penang, Phuket … Top alternative medicine destinations include China, India, and South Korea … Top spa and wellness destinations include Thailand, India, Malaysia and South Korea
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What trends are most important? Trends to watch: Increasingly transparent pricing Patient-generated ratings and rankings All-inclusive medical packages, deals and discounts Patient participatory care: medical consumerism
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Transparent pricing Bumrungrad International, Thailand
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Transparent pricing Dental Departures, website
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All-inclusive medical packages Sime Darby Healthcare, Malaysia
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All-inclusive medical packages Angeles Health, Mexico
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Deals and discounts AmazonLocal, website
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Deals and discounts Groupon, website
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Concierge services Hospital San José Tec de Monterrey, Mexico
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Where do travel agents fit in? Facilitate travel and lodging arrangements … Identify and arrange non-medical support services, including travel insurance, booking changes, post-op complications insurance, and more … Provide “personal touch:” guidance on the best destinations and values
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What should travel agents avoid? Avoid: Diagnosis or medical advice Suggestions for length of stay or required in-country support Advice on aftercare Legal advice
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Where are the opportunities? Opportunities: Partner with hospitals, specialty clinics, and wellness centers Co-brand package deals Promote packages using traditional and social media
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What is the best way to get started? Next steps: Talk to your customers to learn more about their needs and preferences Partner with medical travel facilitators Stay abreast of the market Stay tuned for emergence of medical/wellness travel inventory for agents.
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Josef Woodman, Founder and President Dale C. Van Demark, acting CEO April 2012 Confidential Josef Woodman jwoodman@patientsbeyondborders.com patientsbeyondborders.com the most trusted resource in medical travel
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