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India is well known the world over for it's high-quality heart surgeries. It is estimated that close to 400,000 foreign patients came to India seeking medical treatment last year. A significant proportion of these patients had heart disorders, requiring treatment ranging from angioplasties to highly advanced endoscopic heart surgeries. Hospitals in India that offer high-quality cardiac treatment have become a magnet for patients the world over for the following reasons: • World-class infrastructure for heart treatment in India • Highly experienced heart surgeons and heart specialists in India • Zero waiting list even for the most complex heart surgeries • Outstanding success rates comparable with the best in the world • Low cost of treatment Of all the factors listed above, perhaps the most powerful is the last one... this article dwells on how heart hospitals in India derive a huge cost advantage over hospitals not just in western countries, but also countries like Singapore and Thailand How does India deliver high-quality heart surgery at low costs? 1. Higher purchasing power in India: A Coke that costs a dollar in the US costs 1/5 in India. The same formula, the same ingredients, the same taste but the cost is 80 % less in India. This purchasing power is reflected across most products and industries and it most certainly applies to the cost of medical treatment, be it for heart, brain, lungs, kidneys.... 2. Lower cost of human resources: Consequent to the above, heart specialists in India need to be paid a lot less than their counterparts in the West to enjoy the same luxuries and lifestyle. This lower compensation for heart specialists extends also to all personnel, medical and otherwise, employed by hospitals. 3. Lower cost of high-tech equipment: Hospitals in India use the same state-of-the-art machines for diagnostics and treatment that are used by hospitals in the West. However, these equipments cost far less in developing countries like India, then they do in affluent western countries. Manufacturers of high-tech equipment price their product differently for developing countries and developing countries. This policy translates into much lower capital investment for hospitals and consequently much lower operating costs as well 4. Lower equipment maintenance costs: The cost of maintaining high-tech equipment is prohibitive in western countries. With the availability of extremely skilled, yet extremely economic, skilled biomedical engineers and equipment technicians, the cost of high-class maintenance is also extremely low in India. The result, a good contribution to lower operating costs for heart hospitals in India 5. Huge volumes of patients and procedures: Cardiologists and cardiac surgeons in India typically work 12 to 14 hours every day, six days a week. These long working hours also translate into extremely high utilisation of expensive diagnostic and treatment equipment, including cardiac catheterisation labs. The result is that the expensive cost of this equipment is amortised over a very large number of patients, over a shorter period of time, resulting in a low cost per patient. 6. Low penetration of medical insurance: Most patients in India still pay for their own treatment, without relying on medical insurance. This tends to keep a check on the margins that hospitals can charge for their services. 7. Low incidence of malpractice suits: The medical and legal environment in India does not witness the huge legal suits for damages and malpractice that are witnessed in the US on a regular basis. Doctors in India do not have to worry so much about frivolous suits that are quite the norm in the US and other Western countries. The impact of the above cost drivers can be seen in the table below: USA INDIA Heart US $ US $ Angiogram 4000 600 Angioplasty and stent 16000 6000 Pacemaker 16000 5000 Radio frequency and ablation 14000 2000 Cardiac bypass surgery 30000 7000 Is it any wonder that patients from all over the world, including the USA, UK and Canada, travel all the way to India for heart surgeries?
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