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Thomson Medical Case Study

928 Words4 Pages

1. Introduction This report aims to address the current issue in the medical tourism industry regarding the rise in competition from regional markets such as Thailand and Malaysia due to lower cost of healthcare treatment in those countries and Singapore’s low fertility rate. The two trends will be discussed and based on the chosen trend, the core recommendation will be suggested to Thomson Medical. The report will highlight the short and long term plans for Thomson Medical to implement the recommendation as well as an analysis of the feasibility of the plans. 2. Trends Discussion The first trend identified is that there is an increasing need to invest in medical research to boost Singapore’s medical tourism industry. The second trend is …show more content…

Although Singapore is ranked top 5 worldwide in the medical tourism industry, the country is not well established in providing medical aesthetic treatment as compared to countries like Thailand and South Korea (BMI Research, 2016). Thus, this will prove difficult for Thomson Medical if it were to expand their medical aesthetic arm as Singapore’s location is not the most ideal place for medical tourist seeking medical aesthetic treatments. Therefore, the increasing need to invest in medical research to boost Singapore’s medical tourism is a more relevant trend for Thomson Medical. With medical research, it pushes the Thomson Medical to continue to innovate and explore new medical technologies. This will be the selling point for Thomson Medical in attracting medical tourist seeking cancer treatment. By differentiating itself from competitors locally and from neighbouring countries through providing cutting edge technology, it will also place the company at a competitive edge. 3. …show more content…

To differentiate from competitors from neighbouring countries, Thomson Medical must seek cutting edge technology in its treatments rather than competing with the cost. Thomson Medical clientele consists of upper middle and higher income group and this will remain as the key clientele for Thomson Medical. Clinical trials will provide an alternative for cancer patients where conventional treatments are inefficient in treating the disease. The innovative cancer treatments will entice affluent patients to seek treatment in Thomson

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