How to build a successful medical tourism practice

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Arlen Meyers, MD, MBA

The pillars of medical tourism entrepreneurship

How to build a successful medical tourism practice

5 PILLARS OF SUCCESS
 Comply with surgical quality and safety accreditation
standards
 Comply with travel and hospitality standards
 Practice medical practice entrepreneurship, not just practice
management
 Update your information technology infrastructure and
practice
 Practice cultural competency

WHAT IS VALUE ?
 Value= Stakeholder real or perceived difference between the value
factor/price benefit less the cost compared to the competitive offering
or the status quo
V=Value factor/price
 Convenience, access, speed, experience, easy to use, comfort,
aspirational wants, etc.

CUSTOMER SURPLUS
VALUE
Measuring Customer Surplus
Value (CSV)
Measuring CSV is based on binary
choice experiments that ask
customers to make a choice
between keeping access to a
product or service or giving it up for
one month in exchange for
monetary compensation.

MEDICAL PRACTICE ENTREPRENEURSHIP
 The pursuit of medical tourism opportunity
 Under volatile, uncertain, complex, and ambiguous conditions
 With the goal of creating stakeholder defined value
 Through the deployment of innovation
 Using a valid, automatic, scaleable, and time sensitive business model
 To achieve the sextuple aims: quality, cost, equitable access, HCP
experience, patient experience, waste, shareholder value

THE THREE MS
MINDSET
MEANS
MOTIVATION

THE 4 CS
COMMUNITY: THE ECOSYSTEM ECONOMY
CONTENT: VIA OMNICHANNELS
CREDIBILITY: BE AN EXPERT ON SOMETHING
CONNECTIONS: NETWORK, NETWORK, NETWORK

WHAT PATIENTS WANT
 Credentials
 Cost to them
 Continuity of care
 Care coordination
 Companion experience
 Continuity of data
 Contraindications
 Convenience
 Confidence in their choice

MESH VALUE PROPOSITION
Model: Informed by an entrepreneurial
mindset and personal branding
Patient and companion Experience
Surgical value i.e. Q/Price
Hospitality standards

RESOURCE GUIDE
(1) Your medical
tourism practice
resource guide |
LinkedIn

THANK YOU
 Arlen.meyers@ucdenver.edu
 www.sopenet.org

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How to build a successful medical tourism practice

1. UN COMPROMISO DE TODOS 9AM - 6PM JULIO 2-3 2024 Medical Tourism Entrepreneurship Arlen Meyers, MD, MBA Society of Physician Entrepreneurs

3. 5 PILLARS OF SUCCESS  Comply with surgical quality and safety accreditation standards  Comply with travel and hospitality standards  Practice medical practice entrepreneurship, not just practice management  Update your information technology infrastructure and practice  Practice cultural competency

4. WHAT IS VALUE ?  Value= Stakeholder real or perceived difference between the value factor/price benefit less the cost compared to the competitive offering or the status quo V=Value factor/price  Convenience, access, speed, experience, easy to use, comfort, aspirational wants, etc.

5. CUSTOMER SURPLUS VALUE Measuring Customer Surplus Value (CSV) Measuring CSV is based on binary choice experiments that ask customers to make a choice between keeping access to a product or service or giving it up for one month in exchange for monetary compensation.

6. MEDICAL PRACTICE ENTREPRENEURSHIP  The pursuit of medical tourism opportunity  Under volatile, uncertain, complex, and ambiguous conditions  With the goal of creating stakeholder defined value  Through the deployment of innovation  Using a valid, automatic, scaleable, and time sensitive business model  To achieve the sextuple aims: quality, cost, equitable access, HCP experience, patient experience, waste, shareholder value

7. THE THREE MS MINDSET MEANS MOTIVATION

8. THE 4 CS COMMUNITY: THE ECOSYSTEM ECONOMY CONTENT: VIA OMNICHANNELS CREDIBILITY: BE AN EXPERT ON SOMETHING CONNECTIONS: NETWORK, NETWORK, NETWORK

10. WHAT IS YOUR MESH BUSINESS MODEL?

11. WHAT PATIENTS WANT  Credentials  Cost to them  Continuity of care  Care coordination  Companion experience  Continuity of data  Contraindications  Convenience  Confidence in their choice

12. MESH VALUE PROPOSITION Model: Informed by an entrepreneurial mindset and personal branding Patient and companion Experience Surgical value i.e. Q/Price Hospitality standards

13. RESOURCE GUIDE (1) Your medical tourism practice resource guide | LinkedIn

14. THANK YOU  Arlen.meyers@ucdenver.edu  www.sopenet.org

How to build a successful medical tourism practice

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