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Consumerization of the International Patient Experience & Opportunities for the Travel Sector Presented by Josef Woodman, Founder & CEO Patients Beyond.

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Presentation on theme: "Consumerization of the International Patient Experience & Opportunities for the Travel Sector Presented by Josef Woodman, Founder & CEO Patients Beyond."— Presentation transcript:

1 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

2 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

3 Who are medical travelers? Approximately 600,000 US outbound patients … Mostly 50+, pre-Medicare … Usually have experience with international travel …

4 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

5 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

6 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 …

7 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

8 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

9 Transparent pricing Bumrungrad International, Thailand

10 Transparent pricing Dental Departures, website

11 All-inclusive medical packages Sime Darby Healthcare, Malaysia

12 All-inclusive medical packages Angeles Health, Mexico

13 Deals and discounts AmazonLocal, website

14 Deals and discounts Groupon, website

15 Concierge services Hospital San José Tec de Monterrey, Mexico

16 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

17 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

18 Where are the opportunities? Opportunities:  Partner with hospitals, specialty clinics, and wellness centers  Co-brand package deals  Promote packages using traditional and social media

19 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.

20 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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