How To Set Up The Best Medical Tourism Business ModelGilliam Elliott2019-11-19T11:58:00+00:00
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Video Transcript: I want to focus today on medical tourism business models so medical tourism facilitators can grow their business. three main business models that I like and the ones that I see the most so the first one is an administration fee this is basically just a flat fee that a facilitator can charge a patient or a customer it’s nothing sexy about it it’s pretty straightforward it’s just a flat fee for your services no add-ons no take away is just a flat fee so the next one is procedure package pricing this one is a little bit more tricky it’s basically where you you add everything in this one big package and you present it to the customer so you try to put everything in this procedure package pricing that a customer would need on their medical trip. Example: let’s say it’s a hip replacement knee replacement that would be the procedure in this package it would have the surgical cost which on this chart will be ten thousand dollars and have a doctor’s fee in this package will be $800 it would have complication insurance would be $600 and it would have prescription medication for the patient at $1,200 and that would add that would add up to twelve thousand six hundred dollars so you would let the patient know for this package is twelve thousand six hundred dollars now it is put it is important to note that you a lot of times you can’t fit everything in this package but you can’t fit a lot of things in there you can fit just like we went over you can fit the surgery cost the doctor’s the medication complication insurance and you can also throw other things in has to like hold like the hotel the transportation and say hey for all these services this is how much it’s going to cost you but make sure your phone with the customer if it’s if they’re gonna have to pay for some other things along the trip make sure you communicate that to them as well and then also when you present this to them you obviously want to get paid for this and you want to know how you’re gonna get paid so I do want to go over that as well so you can actually work with the hospital to incorporate all these things in this big package that you present to your customers and you mark it on your website once they purchase this package you can either charge the hospital commission of what the overall procedure package was or maybe they might say well we’re only open to giving you a percentage of what the medical procedure costs so you really want to understand how you what what commission you’re going to be paying off of what so if you’re going to get a commission off of the whole package then obviously if you have a really big package and the customer buys that big patches then the more the more commission you’re going to get off that package if you’re just getting paid off for the peace procedure then obviously whatever procedure they get you’ll just get a commission off of that so it’s different ways you can earn from that procedure package pricing which also brings me into just commission so just like we just spoke about your commission really is going to determine on the partnership that you have with this hospital obviously from the beginning you want to make sure you have the lines very clear of how you’re gonna get paid you can also and just just a side note you can also get paid from these hotels that you put in this package so if you if you’re working with a destination consistently and you’re sending patients to a hospital consistent and consistently you want to try to build some type of relationship with the tour guards so in that in that area with the hotels in that area and possibly you can get paid a fee for every time you refer a customer to that hotel a to that tour guide and get a commission that way as well so it’s several ways that you can get paid and you can grow your business through a business model like this one so and then now I want to get into a the customer well now we see the customer bought the package we see that now it’s time for you to receive payment so receiving payment you can get that two ways so you can either have the patient pay the doctor directly or you can have the patient pay you directly now obviously there’s pros and cons to both of these so if the patient pays you directly then obviously you take on more liability if God forbid something happens the custom the customer or the patient can come directly after you or add you into whatever a litigation that that they go for now obviously the other one has a con as well if you have the patient pay the doctor directly then it’s going to be a bit of a delay before you get your commission or before you get your fees.