South Florida Hospital News and Healtcare Report is the Region’s Monthly Newspaper for Healthcare Professionals & Physycians.
August 2013 – Volume 10 – Issue 2
Got Enough International Medical Business?
There are great opportunities now to increase your revenue and to grow medical tourism business.
Latest market statistics indicate that 83% of Latin America medical tourists receive medical treatments in the U.S. Medical tourism is a $400M industry in the U.S. that is growing at a rate of 30% every year. These are very valuable reasons to be on top of the most current strategies to capture a bigger share of this market for your medical practice, business or facility.
One of our clients’ goals was to significantly increase the size of his international surgery practice. Katalyst – The Hispanic Medical Marketing Group, worked with him to develop a comprehensive program to target countries with the most patient potential for his specialty. After he saw the initial successful results he decided to expand the program to multiple countries in the Caribbean and Latin America.
A medical company’s marketing team asked us to work with them to increase the number of urologists using their new technology. We created an effective strategic marketing program that resulted in a 60% increase in their domestic installation base and supply business. This program was then also successfully replicated abroad.
Many hospitals and healthcare organizations frequently only choose to be exhibitors at international health fairs and meetings as their sole international strategy. Is it cost- effective to just do that and not do anything else? The answer would be positive if this strategy was one part of an international program that had other components – education, building relationships, accessing the media and implementing targeted strategies should also be included in your comprehensive international business plan.
It’s true, globalization has changed everything, and how patients think of healthcare. Implementing multiple international strategies, investing in targeted marketing, and standing out in the world with your medical practice, business or healthcare facility will make a difference increasing your share of the medical tourism industry and will help you to answer the question … “Got Enough International Medical Business?
Veronica Yussyn-McLaney is Marketing Director, Katalyst – The Hispanic Medical Marketing Group. KATALYST assists healthcare organizations in marketing and in communicating effectively with the Hispanic, Caribbean and minority populations. For more information, visit www.katalystmarketinggroup.com.