BOI investments boost medical tourism

As the Sri Lankan economy grows further and diversifies, new economic sectors are being earmarked for development. One area which offers considerable potential for development is the health sector since it is vital to society and can emerge as an area of economic activity, beyond its role as a public service.

The future health system is expected to be a patient focused system. It is a system which ensures easy access to modern health care services and supports a high quality of life.

Sri Lanka has a long tradition of excellent health care and a professional medical establishment. There are traditions other than western medicine such as Ayurveda, Unani and Allopathic medicine.

These forms of medicine either supplement or represent an alternative form of treatment to western medicine.

Many hospitals in Colombo were started as BOI projects. This has radically changed the medical service.

Investments under BOI have been the catalyst that led to the setting up of high profile hospitals such as Nawaloka, Asiri, Hemas, Oasis, Durdans and Lanka Hospitals.

Under supplementary agreements with the BOI, hospitals have enhanced their services, introduced new equipment and even set up new ventures outside Colombo, such as Galle, Kandy, Kalutara and Negombo.

Through agreements for expansions with the BOI, these hospitals have purchased new equipment and even introduced previously unavailable services such as radiation and cardiac treatment and lung and liver transplants.

By developing the medical services in the country many patients who would have travelled overseas, have been treated in Sri Lanka instead. With opportunities available at home skilled medical professionals who would have migrated overseas, have remained here.

Investment in the medical sector has also led to the setting up of specialised hospitals that meet the specific needs of patients. These include BOI projects such as Vasan Eye Care, Golden Key - Eye and ENT Hospital, Sakura Dental Hospital and the Ninewells Care Mother and Baby Hospital.

Recent BOI agreements include the Singapore Dialysis GRP (Pvt) Ltd. A specialised hospital for kidney dialysis in Sri Lanka.

Another service operating under BOI is Medi-Calls, a reputed emergency service. Med 1 (Pvt) Ltd. provides a modern ambulance service with skilled paramedics.

As Colombo’s hospitals improve, a growing number of foreign visitors had sought treatment in Sri Lanka. A new area of economic activity where medicine and tourism meet, dubbed medical tourism has emerged in the country.

For medical tourism to be successful, Sri Lanka’s medical establishment must offer treatment, which is competitive for an international patient to travel to the country.

Another consideration is the time factor. There should not be long waiting long lists for treatment. Sri Lanka, therefore, does have the potential to develop medical tourism on the lines of the successful ventures undertaken in Asian neighbours such as India, Singapore and Thailand.

International visitors who come to Sri Lanka for treatment have commended the high standards of specific hospitals, excellent administration and easy accessibility.

But the main reason for medical tourism is the quality medical standards, aftercare service, transparency of medical insurance and keeping of good medical records.

Sri Lanka scores well in terms of international exposure of medical specialists who have completed postgraduate studies at Universities overseas.

Some treatment can be long such as reconstructive surgery. Shorter term treatment include kidney dialysis where tourists to Sri Lanka can include this treatment in their holiday or business travel plan. Medical tourism is not new to Sri Lanka. The traditional visitors for medical tourism have been Maldivian nationals who have long-standing relations with most of Sri Lanka’s leading hospitals.

Many of the leading hospitals in Colombo have special desks for Maldivian patients.

Another potential area for medical tourism is ayurvedic treatment. Tourists who visit the island for ayurvedic treatment, check in at the growing number of ayurvedic spas.

Travel companies which have realised the potential of Medical Tourism have a selection of packages to meet their client’s specific needs. The health sector can become a major foreign exchange earner and a means for building capacity in the country.