How is Covid-19 affecting Medical Tourism? 

IMS has been taking the temperature of the clinical travel area over the past month and assessing the effects of COVID-19 on organizations that depend on the production of patients worldwide. We have gathered the insights of 70 members of the industry and pioneers from around the world. Any of the participants talked to emergency clinics, centers, clinicians, and facilitators. This is what they were expected to say.

COVID-19 causes extraordinary concern for 64 percent of respondents and there is no ridiculous impact on their company related to medical services. 27% believe that it is confined to particular regions of their sector related to medical services and that the effect is regularly monitored.

COVID-19 has had a major effect on tolerant data for the clinical travel/worldwide patient, part of their medical services sector (Impact score of 4.3 out of 5), and there has been a huge monetary impact, recalling impacts on business operation, liquidity, and capital assets (Impact score of 4.1 out of 5). In order to enable them to re-start their worldwide patient exercises after the emergency is over, several companies are incorporating important changes to their working practices.

For years to come, 16% of respondents have shut down their worldwide patient tasks. 20% continue to work as far as possible, albeit with completely reduced assets and an uncertain arrangement for company progression. Just under half continue to operate with a heartfelt business coherence policy that they embrace that will help them to survive.

For as long as they expect the clinical travel division to continue to be fundamentally impacted by COVID-19, we questioned respondents. The lion's share (41 percent) expects the impact to continue for 6 months to a year. 31 percent expect the impact to continue for over a year.

The effect on patient numbers worldwide has been noteworthy. 67% say their global patient numbers have declined by more than half. There are far and wide questions about whether their organizations have the budgetary assets in the COVID-19 episode to keep working.

43% have now rolled out no changes to their workforce. One in four of them reduced their working hours. Furloughing or laying off workers is one out of three.

Clearly, the study does not have real surprises. This highlights the important effect of COVID-19 on a market that blends healthcare, travel and tourism. It has already meant the end of their business for some, particularly those in the agency/facilitator business. The stress will be unwelcome for the major hospital owners and the major hospital brands, but it will be endured. In the medical travel industry, we can likely see a degree of market consolidation, as the smaller and less resilient operators leave the market. It will be the survival of the fittest and the strongest in the recovery stage, which will be a good long-term trend.