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Krivenko N.V.

Institute of Economics, Ural Branch of RAS

Vasileva A.V.

Bekhterev National Research Medical Center for Psychiatry and Neurology;
Mechnikov North-Western State Medical University

Elishev V.G.

Sverdlovsk Regional Oncology Dispensary»

Evaluation of the medical tourism effectiveness on the example of the Russian federal project «Development of Medical Exports»

Authors:

Krivenko N.V., Vasileva A.V., Elishev V.G.

More about the authors

Journal: Russian Journal of Preventive Medicine. 2021;24(12): 18‑23

DOI: 10.17116/profmed20212412118

Views: 29900

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To cite this article:

Krivenko NV, Vasileva AV, Elishev VG. Evaluation of the medical tourism effectiveness on the example of the Russian federal project «Development of Medical Exports». Russian Journal of Preventive Medicine. 2021;24(12):18‑23. (In Russ.)
https://doi.org/10.17116/profmed20212412118

 
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According to the international Medical Tourism Index covering 46 countries, Russian Federation (RF) ranks 41. To attract additional funding to the industry and strengthen the positions of the Russian Federation in the international medical tourism market, the Government of the Russian Federation adopted the federal project «Development of Medical Exports» (hereinafter referred to as FP DME).

OBJECTIVE

To develop and implement a simulation model of a net present value to evaluate the cost-effectiveness of FP DME.

MATERIALS AND METHODS

Evaluation of the cost-effectiveness of FP DME was carried out using the method of simulation modeling in the following sequence: 1) m model simulations were performed; during each simulation, there was a random selection of the values of the US dollar rate and key rate of the Bank of Russia following the probability distribution, distribution parameters, and correlation conditions, and then the net present value was calculated; 2) based on the statistical analysis of the net present value (NPV index) obtained in m model simulations, the economic viability and riskiness of the project were estimated.

RESULTS

As a result of the implementation of the simulation modeling of a net present value in MathCAD, the cost-effectiveness of FP DME was determined. Considering the actual data on FP DME implementation for 2019 and 2020, the average NPV value of the project for 2024 will be 75.47 million rubles; NPV mean-square deviation is 21.24 million rubles.

CONCLUSION

Based on the results of the FP DME effectiveness assessment, low performance of the medical exports mechanism was shown. The improvement of the mechanism was declared as a project task.

Keywords:

medical tourism
medical exports
cost-effectiveness

Authors:

Krivenko N.V.

Institute of Economics, Ural Branch of RAS

Vasileva A.V.

Bekhterev National Research Medical Center for Psychiatry and Neurology;
Mechnikov North-Western State Medical University

Elishev V.G.

Sverdlovsk Regional Oncology Dispensary»

Received:

16.09.2021

Accepted:

16.12.2021

List of references:

  1. Yu J, Lee TJ, Noh H. Characteristics of a Medical Tourism Industry: The Case of South Korea. Journal of Travel & Tourism Marketing. 2011;28:8: 856-872.  https://doi.org/10.1080/10548408.2011.623052
  2. Amutha D. Booming Medical Tourism in India. SSRN Electronic Journal. 2013. Accessed July 19, 2021. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2234028
  3. Chavan R, Bhola SS. Indian Tourism Market: An Overview of Emerging Trends and Development. GJCMP. 2015;3(4):113-122. Accessed July 19, 2021. https://ssrn.com/abstract=2589488
  4. Chee HL. Medical Tourism in Malaysia: International Movement of Healthcare Consumers and the Commodification of Healthcare. Asia Research Institute Working Paper. 2007;83:32. Accessed July 19, 2021. https://doi.org/10.2139/ssrn.1317163
  5. Gan LL, Song H. A SWOT Analysis of Medical Tourism: India and South Korea. SSRN Electronic Journal. 2012. Accessed July 19, 2021. https://ssrn.com/abstract=2194856
  6. Ioannis S, Katsoni V, Geitona M. A Supply Side Investigation of Medical Tourism and ICT Use in Greece. Procedia — Social and Behavioral Sciences. 2014;148:370-377.  https://doi.org/10.1016/j.sbspro.2014.07.055
  7. Puckett G. Medical Tourism Destination Latin America and Asia. Mexico: Medical Tourism Worldwide; 2013.
  8. Smith P, Forgione D. Global Outsourcing of Healthcare: A Medical Tourism Decision Model. J Inform Technol Case and Applic Res. 2007;9(2):19-30. Accessed July 13, 2021. https://www.tandfonline.com/doi/abs/10.1080/15228053.2007.10856117
  9. Leng CH. Medical tourism and the state in Malaysia and Singapore. Glob Soc Policy. 2010;10(3):336-357.  https://doi.org/10.1177/1468018110379978
  10. Kovaleva IP. World trends in the development of medical tourism. Development of economics and management in the modern world. 2014;32:67-70. (In Russ.).
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  13. Nikitina OA. Organizational and economic models for the development of international medical tourism: choosing a model for Russia. Bulletin of Eurasian Science. 2018;10(5):38. Accessed December 17, 2021. (In Russ.) https://esj.today/PDF/56ECVN518.pdf
  14. Chereshnev VA, Vasilyeva AV, Korobitsyn BA. Assessment of the economic efficiency of state programs of social orientation by methods of simulation. Economic analysis: theory and practice. 2017;1(460):174-187. (In Russ.). https://doi.org/10.24891/ea.16.1.174
  15. Lovtsova K. To be treated in Russia. Are there any prospects for medical tourism. Forbes. 2018. Accessed December 17, 2021. (In Russ.). https://www.forbes.ru/biznes/355967-lechitsya-v-rossii-est-li-perspektivy-u-medicinskogo-turizma

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