Spurred by the booming Indian economy that is set to grow to $5 trillion in another five years, many Indian healthcare and hospital entrepreneurs now have the ambition to spread their wings beyond the national borders and leverage their strengths in other healthcare destinations globally, especially in societies which have the wealth but lack a good healthcare infrastructure.
When done right, cross-border global expansion can offer phenomenal rewards for hospitals, as countries worldwide welcome foreign investment and expertise in healthcare, opening the door to their lucrative markets and patients. Global presence can enhance the value of an Indian hospital brand and earn the trust of overseas patients. It can also give access to an advanced knowledge base and technology and help offer drugs and services to patients at a competitive price in the host country.
However, taking a hospital business to uncharted territories does have its perils, and one must tread the waters carefully. Here is a roundup of the essential questions to ask and the steps to take before a hospital operator establishes a global footprint.
The first and foremost question is the choice of the country. Where in the world to open a hospital? This initial step is quite vital for the business and its management team. From Nigeria to Nepal, each country has its distinct social, demographic, economic, financial, regulatory, and political environment, variant culture, resources, and global outlook.
Due diligence
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Denne historien er fra July 2023-utgaven av Healthcare Radius.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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