Medical Tourism - 22177 Words

Tanaka Business School Imperial College London An Insight into Malaysia’s Medical Tourism Industry from a New Entrant Perspective by Mr. Bhavin J. Shah A report submitted in partial fulfillment of the requirements for the MBA degree and Diploma of Imperial College London September 2008 SYNOPSIS The overarching objective of this project is to provide an insight into Malaysia’s medical tourism industry. The study conducted offers assistance to a new upcoming hospital in Malaysia to understand the overall scenario of the market it wishes to enter in the near future. An external view using Porter’s Five Forces, an internal resource-based view and an industry snapshot using value network approach are evaluated to identify†¦show more content†¦4 Organizational Context ................................................................................ 5 Project Objectives ....................................................................................... 5 Report Structure .......................................................................................... 5 Chapter Summary.................................................................................... 6 Introduction ................................................................................. ................ 7 Traditional strategic management ........................................................ 7 The services sector .............................................................................. 7 Criticism of Porter’s Five Forces ......................................................... 12 Criticisms of Resource-Based View.................................................... 13 Definition ............................................................................................ 14 Background of network study ............................................................. 15 About value network ........................................................................... 15 About value-chain............................................................................... 16 Value Network vs. Value-ChainShow MoreRelatedMedical Health And Medical Tourism1596 Words   |  7 Pagesneed of medical attention that you could not afford because of where you live or the doct or nearby did not have standardized treatment for your diagnosis. What would you do? Would you continue to seek treatment locally or find somewhere else to receive cheaper, proper care? Most people would want to be taken care of by a doctor who knows what he or she is doing and if it saves money at the same time, it is a hard deal to turn down. Traveling to seek medical attention is better known as medical tourismRead MoreMedical Tourism in Malaysia1306 Words   |  5 PagesI. Introduction to Medical Tourism in Malaysia Medical tourism, also known as medical travel, is used to describe tourists traveling from one country to another to receive medical treatments. Ten years ago medical tourism was not very popular (Chelliah, 2012, p. 1). Now, however, thousands of travelers go around the world to receive medical surgery such as knee surgery, dental surgery, or cosmetic surgery. The top four countries that are most popular for medical travel are: South Korea, MexicoRead MoreEmerging Trends Of Medical Tourism753 Words   |  4 Pages EMERGING TRENDS IN MEDICAL TOURISM A CASE STUDY OF PUNJAB AMES GILL (Reg. No.11107022) To School of Hospitality Master of Business Administration (Tourism Hospitality) Under the guidance of Read MoreMedical Tourism Industry - Advantage India by C.B. Venkata Krishna Prasad2670 Words   |  11 PagesMedical Tourism Industry - Advantage India C.B. Venkata Krishna Prasad* Traveling abroad for health is not a new phenomenon. Medical tourism is actually thousands of years old. In ancient Greece, pilgrims and patients came from all over the Mediterranean to the sanctuary of the healing god, asklepios; the god of healing was located at Epidaurus. In roman Britain, patients took the waters at a shrine at bath, a practice that continued for 2,000 years. During 18th century wealthy Europeans used toRead MoreMEDICAL TOURISM Malaysia has documentation of more than 20% expansion in medical tourism over the800 Words   |  4 PagesMEDICAL TOURISM Malaysia has documentation of more than 20% expansion in medical tourism over the recent 3 years and it produced millions of revenue this year. There are lots of reasons of expansion of medical tourism in Malaysia. Some are as under: Outstanding medical facilities are provided at incredible charges. There are extremely competent, certified and capable medical expert. The hospitals have outstanding structure and they work with different manner so as to avert long log jam and offerRead MoreInternational Tourism s Effect On Medical Tourism1649 Words   |  7 PagesIntroduction In this paper, I will evaluate Hallyu in regards to its effect on medical tourism. However, I will first define the terms in order to give a clearer picture of what is Hallyu and which medical tourism I am referring too. Hallyu is defined as the growing popularity of Korean-based products that include drama, film, and pop music (Kim). It is also used to describe the fast spreading popularity of Korean culture like food, clothing, and housing. Recently, Hallyu or Korean Wave has notRead MoreNew-Fangled League: Cruise, Medical, Film, Wedding and Spiritual Tourism5184 Words   |  21 Pagesleague: Cruise, Medical, Film, Wedding and Spiritual tourism Shivgit Dhaliwal 1.Abstract Tourism is an age old activity associated with civilized nations. Thus, tourism literature too has a long history. This paper critically exam the positioning of a New-fangled league of tourism products in India. The creation of New- fangled tourism products like medical tourism, spiritual tourism, religious circuits, wedding tourism, cruise tourism, caravan tourism and film tourismRead MoreMedical Tourism1451 Words   |  6 PagesMEDICAL TOURISM ABSTRACT A growing number of people are discovering the benefits of medical tourism. In the U.S.A and throughout the western world, it is becoming common knowledge that medical tourism offers a cheaper option for receiving medical treatment without compromising on quality1. The costs of medical treatment and state-of-the-art technology are the most important factors for Americans in making a decision to travel abroad for treatment2. The cost-conscious factor and availabilityRead MoreMedical Tourism Essay1744 Words   |  7 PagesBackground Recently, there has been a large number of Americans flying to India for medical procedures. The practice of traveling abroad to receive both elective and non-elective medical procedures is called medical tourism (Steklof 722). The number of Americans who traveled overseas to receive medical treatment increased from 500,000 in 2005 to 750,000 in 2007 (Steklof 724). Many of these medical tourists are choosing to travel abroad due to rising healthcare costs and the difficulty to retrieveRead MoreThe Effects Of Medical Tourism1665 Words   |  7 PagesIntroduction Medical tourism is trending as time goes on and as the population increase throughout the world. Medical tourism is a concept where individuals from their native countries, visit foreign countries to receive the medical attention they need that is not available in their native country (CDC, 2016). This is further divided into outbound and inbound, inbound refers to the patients coming to the country and outbound refers to the individuals leaving the country (Horowitz et al, 2007). First