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Follow on Google News | Boosting M’sia’s Medical Tourism SegmentThis is an article on Malaysia becoming a major destination for medical tourism over the past five years and efforts are underway to diversify source markets
By: Justin Yap - According to the Ministry of Health Malaysia there were 236,836 medical tourisms in first five months of 2012 spending RM200.4 million. Based on preliminary figures, Oxford Business Group (“OBG”) said the sector was expected to attract over 600,000 foreign patients and generate more than RM600 million revenue by 2012. In comparison to the region, Malaysia has a favourable exchange rate and lower healthcare costs. OBG said that the medical tourism segment is almost entirely served by private sector health care providers. - In 2011, facilities in Penang attracted 49 per cent of total foreign medical revenues, while institutions in KL and greater Klang Valley attracted 21 per cent and Melaka 10 per cent. As of mid-2012, Malaysia was home to eight hospitals with JCI accreditation including Gleneagles Hospital. - The Malaysian government is working to boost private sector participation in medical tourism with the goal of expanding health care options for Malaysians and attracting more medical tourists. Incentives aimed at encouraging private participation include tax exemption to build new hospitals or expand existing hospitals. There are other tax incentives for hospitals to obtain accreditations. Visit Gleneagles Hospital here: http://gleneagles.com.sg/ End
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