Denver, CO, March 15, 2013 --(PR.com
)-- Cautious optimism is felt by many today, but it should by no means be assumed for 2013 in the medical tourism industry, says Pramod Goel, PlacidWay CEO and author of recently released book "Evolution of Medical Tourism: from Cottage Industry to Corporate World."
As we set our focus on the year 2013, we can see that the medical tourism industry trends and expectations go hand-in-hand with trends expected in the hospitality industry. The heightened competitive environment has developed locally, regionally and globally, thus pushing medical tourism companies to focus on emerging markets and set new standards. The idea is to create a differentiator among medical providers and customer experience as well. All these improvement will increase client base, revenue and branding in the wake of such trends.
As Chief Executive Officer at PlacidWay, Pramod Goel has become a thought leader in medical tourism and he shares his perspective on what will be defined as the beginning of the next generation of innovation in the medical tourism industry.
2013 Medical Tourism Trends and Expectations
It is only natural to expect heightened competition between medical tourism providers with the uncertainties of global economies. All medical providers are seeking to increase, or at least maintain their client base. Technology is the factor that leads the way in consumer satisfaction, as we will see below.
Key issues in the medical tourism industry and how to handle them in 2013
Increased Competition is a major trend for 2013, both globally, regionally and locally. Pramod Goel is positive that already established medical providers must prepare to face the massive increase in competition. Worldwide, we are witnessing an increase in medical providers promoting medical tourism and endorsed by governments. There are limited barriers when entering the medical tourism industry, so the expected outcome in 2013 is a flood of providers wanting to get a share of the industry potential, regardless of the already heightened competition. And technology is only here to help. The multi-channel promotional environment online and off-line is used by all involved in the industry to market their products and services, and with the developments of social media and other marketing utensils available, the fierce competition will be influenced further.
Pramod Goel is positive that medical providers need and will try to stay on the top of their game as far as branding, marketing, and services are concerned, especially when considering the growing competitive medical tourism industry.
Increasing global presence today, as a medical tourism must, relies heavily on the virtual environment. Visibility in social media and accessibility for consumers are key, but the most important is of course reputation.
Transparency - as in availability of information for consumers to do their online research and understand their choices is important when selecting the provider. With more available information online, the competition will be heightened in 2013 and beyond.
Lack of Product Differentiators
PlacidWay CEO states that a blurring product differentiation and increased price pressure may result in declining revenue and lower profits that is why the clear product distinction will be the 2013 challenge for medical providers.
Growing Medical Tourism in 2013
Companies that are able to perform in-depth analysis of their consumer preferences, behavior and overall trends of the industry will rise before others in the industry who are not able to adapt. So depending on how fast an organization adapts to changing business environments and innovations in this highly competitive industry performance will be achieved.
A clear understanding of the consumer (his likes and dislikes) and customer service orientation will build his confidence and reinforce the brand image.
N.B. Customer satisfaction and loyalty relies Not on the medical tourism facilitator but on catering to the customer's needs, wants and goals throughout the process, says Pramod Goel.
Leverage all the industry opportunities such as business platforms and social media to cater to customer preferences and achieve loyalty of the consumer!
Success will depend on the careful research and exploitation of the potential of market opportunities, as well as using technology, marketing and branding of the medical tourism business.
The author of the original article is Mr. Pramod Goel - President and founder of PlacidWay, an internationally recognized industry leader in medical tourism, and the author of recently released book Evolution of Medical Tourism: from Cottage Industry to Corporate World. To view the full article and comments please go to PlacidWay website where you will also find an audio presentation of the article.
PlacidWay is located in Castle Pines, Colorado 80108, 7437 Village Square Drive, Suite 210. For press inquiries about PlacidWay, to arrange an interview with Pramod Goel call +1.303.317.3607, or email us.