By promoting preventive healthcare, countries can improve the health and well-being of their citizens, contributing to overall economic and social development. However, for India with its vast pool of skill both in health and technology sectors, there are few added advantages compared to the rest of the world. Remote care and medical tourism can bring in extra dollars to the Country.
Remote care if executed well is worth much more than medical tourism. In medical tourism one has to travel to India, at present not a convenient experience for many. A dollar from a foreign patient is worth more than the same dollar from an Indian patient. A typical doctor consultation in India is less than $10 while it can be $200 or more in the West, that too with a waiting period of few weeks to months.
After all, economies are built by net inflows of dollars into the Country. With the biggest remittances worth over $100 billion every year, Indian community living abroad is financing the Nation while also providing with the soft power. To catch up to our brothers and sisters living abroad, Indian residents should explore opportunities and build revenues for the Country in the medical field as well similar to what IT and pharma sector have accomplished.
Remote care has the potential to benefit the Indian healthcare industry economically by providing access to patients in foreign countries who are seeking medical advice or treatment. Here are some ways remote care can help:
- Increased revenue streams: By providing remote consultations and medical services to patients in foreign countries, Indian healthcare providers can tap into new revenue streams that were previously inaccessible.
- Cost savings: Remote care can help reduce the cost of delivering healthcare services by reducing the need for physical infrastructure and personnel. This can lead to cost savings that can be passed on to patients, making Indian healthcare more competitive on a global scale.
- Improved reputation: By providing high-quality remote care services to patients in foreign countries, Indian healthcare providers can improve their reputation and attract more patients from around the world.
- Increased medical tourism: Remote care can also help to attract medical tourists to India, as patients can receive medical advice and consultations from Indian healthcare providers from the comfort of their own homes. This can help to boost the local economy by increasing the number of tourists visiting India for medical purposes.
In conclusion, remote care has the potential to help Indian healthcare benefit economically from foreign countries whose healthcare systems are collapsing. This can help to position Indian healthcare as a global leader in the industry.