Last few months have not been
good for Indian currency and it has seen constant beating. At over 57 for each
dollar, it has lost its glory of the past years. India’s oil imports are also
adding fuel to the fire of rising inflation. However, many pundits believe a
weaker rupee is good for India’s exports as our companies and Indian products
and services become attractive again to the western buyers.
In this context, it should also
be a good news of Indian healthcare businesses because the affordability for
the foreign patients would increase for getting treated in India. I am
particularly not sure whether currency plays any role in a foreign national’s
decision in taking treatment in low-cost medical destinations. There may be other
factors too, like the perception of the country, local support for the foreign
citizens, language support, expertise in the health domain for the hospitals
etc. But if at all someone is price-conscious and have a favourable outlook
towards India, I think it is a good time for that patient to look at getting
treated here.
Another aspect is the turmoil in the
Euro-zone. Given the fact that many European countries are struggling bankruptcy
and jobs are at risk, affordability of healthcare would also become a major
concern for some countries. I think there also the scope of medical tourism can
be explored. One website claims that the medical tourists stand to save up to
75% of the cost of similar care in their own countries because of the weak
Indian currency.
What are your views on this
matter? Do you think currency and exchange rate matter when a patient decides
on taking treatment? Have you experienced an increase in inflow of foreign
patients in your hospital in the recent times because of the currency
fluctuations? Does a weaker currency also benefit Indian healthcare providers in
another domain?
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