BOI medical sector investments boost national health and open opportunities for medical tourism

Friday, 28 March 2014 00:03 - - {{hitsCtrl.values.hits}}

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 but also, can emerge as an area of economic activity, beyond its current role as a public service. The health sector has in fact been identified in the government‘s manifesto, the Mahinda Chinthana, as a crucial area since it can create a healthier nation that contributes to its economic, social, mental and spiritual development. The future health system is

expected to be a patient focused system that provides services closer to the client. It is a system which ensures easy access to modern health care services and supports a high quality of life. The advantage Sri Lanka does have is a long tradition of excellent health care and a professional medical establishment. In addition, there are other traditions than western medicine in the country such as Ayurveda, Unani, Allopathic medicine, to name just a few. These forms of medicine either supplement or represent an alternative form of treatment to western medicine. It is worthy to note that many of the existing hospitals in Colombo have been started as BOI projects. These have radically changed the medical service which is now available to the public. Investments under BOI have been the catalyst that has led to the establishment of high profile projects such as Nawaloka Hospitals Ltd., Asiri Surgical Group, Hemas Hospitals, Oasis Ltd., Durdans Medical and Surgical Hospitals and the Lanka Hospitals Corporation Public Ltd. Furthermore under supplementary agreements with the BOI, existing hospitals have been able to enhance their services, introduce new equipment and even set up new ventures outside Colombo at locations 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. Also skilled medical professionals, who would have migrated overseas, have remained with great opportunities at home. Investment in the medical sector has also led to specialised hospitals that meet specific requirements of patients. These include BOI projects such as Vasan Eye Care ,Golden Key -Eye and ENT Hospital, Sakura Dental Hospital Ltd., and the Ninewells Care Mother and Baby Hospital. Recent BOI agreements include the Singapore Dialysis GRP Ltd. for a specialised hospital for kidney dialysis in Sri Lanka. Another service operating under BOI is Medi-Calls, a reputed emergency service. Med 1 Ltd. provides a modern ambulance service with skilled paramedics. Opportunities for medical tourism in Sri Lanka As Colombo’s hospitals improve, growing numbers of foreign visitors have sought to be treated 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 be able to offer treatment, which is competitive for an international patient to decide to travel to the country. Another consideration is the time factor. There should not be long waiting lists for treatment. Sri Lanka therefore does have the potential of developing medical tourism on the line of the successful ventures undertaken in Asian neighbours such as India, Singapore and Thailand. These international visitors who have already come to Sri Lanka for treatment have commended the high standards of specific hospitals, their excellent administration and easy accessibility. But the main reason for medical tourism are the quality of medical standards in the country, of its aftercare service, transparency of medical insurance and keeping of good medical records. In addition Sri Lanka scores well in terms of international exposure of her medical specialists who have completed postgraduate studies at universities overseas. Some treatment can be long such as reconstructive surgery where the recent conflict led to acquiring many skills and knowledge in this specialised field. Shorter term treatment would include kidney dialysis where tourists to Sri Lanka can schedule 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 the Maldivian nationals who have longstanding 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. Already a number of tourists visit the island for Ayurvedic treatment, checking in at the growing number of Ayurvedic spas. Travel companies which have realised the potential of medical tourism already have a selection of packages to meet their client’s specific needs. The BOI therefore sees the health sector as an important area for investment since it can meet a vital need for Sri Lankan society, enhancing health of the population which is essential for productivity and development. The health sector can also become a major foreign exchange earner as well as a means for building capacity in the country.