Do We Understand Medical Traveler?
PlacidWay Medical Tourism Global Research: Consumer Demand Analysis
The emergence of consumer-centric healthcare and medical tourism has generated significant interest in global search for optimal healthcare. Consumers are increasingly seeking healthcare solutions that fit their budget, treatment options, and buying preferences. In this new era of healthcare, the demand for health services is influenced by price, availability of specific treatment, and perceived quality.
PlacidWay conducted a global research to understand the characteristics of consumer driven healthcare and medical travel demand. This research, based on a global sample of potential medical tourists, provides insights on:
- Who are potential medical tourists in terms of age, economic and health status
- Which treatments they would consider traveling abroad
- Why they would travel abroad for medical treatment
- Where they would go to obtain such treatments
- How much they are willing to pay for such services, their price point
- When they are ready to make medical travel decisions.
The research captured five diversified age groups which provided a broad spectrum of understanding of respondent’s perception on medical travel. People from over 70 countries participated in the research. More middle income respondents provided their views compared to the low or high income.
The research summarizes survey results from both who have already traveled abroad for medical care, and from the people who may consider going overseas for healthcare.
The research analyzed the perception of consumers in terms of what, why, how, who they will interact when considering medical travel. This established the characteristics of the demand and their perceived values. It further establishes how people do their research about medical problems, and subsequently, identifying criteria for medical travel, evaluation of type of cost packages and decision making timelines.
For any industry to flourish, the equilibrium of supply and demand is vital for its success. Similarly, in the evolving medical tourism industry, the balance between healthcare consumer needs (demand) and provider’s product (supply) should balance in order for the solution to succeed.
Mr. Pramod Goel Brief Overview
Mr. Pramod Goel is president and founder of PlacidWay, an internationally recognized industry leader in medical tourism. Mr. Goel is the author of recently released book Evolution of Medical Tourism: from Cottage Industry to Corporate World.
PlacidWay is a U.S.-based medical tourism company with presence in over 40 countries worldwide, offering most comprehensive solution to over 650 medical providers globally, from India to Turkey to Mexico and Costa Rica.
PlacidWay’s global presence includes patient referrals from all continents including the Americas, Europe, the Middle East, CIS, Africa, and Asia. With nearly one million healthcare consumers from these regions accessing PlacidWay websites annually, PlacidWay has become a thought leader in the industry, providing globally deployed industry best practices, focused to attract international patients. PlacidWay has become an ultimate digital health resource for the medical tourism industry.
Mr. Goel has a diverse and experience-rich background building and orchestrating start-ups, turnaround, and growth-oriented ventures. His strategic leadership and entrepreneurship has resulted in several globally successful enterprises. He is a big picture thinker, with focus on establishing best business practices, enterprise standards, and operational excellence.
Mr. Goel has been instrumental part of many global organizations, delivering many strategic and tactical solutions across multiple industries such as healthcare, technology, travel/hospitality, energy and manufacturing. His vast management consulting experience includes strategic planning, operational execution, enterprise business modeling, among many other competencies and achievements.
Mr. Goel holds a Master’s in Industrial & Systems Engineering and a Bachelor’s in Mechanical Engineering.