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27 Aug 2010

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Large Private Hospital Business, 2010: Growing Amid Stiff Competition (Business Brief No.2920)

KASIKORN RESEARCH CENTER (KResearch) views that large private hospital business will likely show better performance in 2010 than in 2009, thanks to some boosts from a more satisfactory business environment, e.g., the economic recovery and improved tourism revenue, because the political situation has been managed by the government.
Nevertheless, an important issue will be more intense competition between domestic hospitals, as well as competition between domestic facilities and international rivals that aim to develop their potentiality to become an Asian medical hub. The political situation is a factor should be closely monitored because it may dampen the confidence of foreign ‘medical tourists'.

Large private hospitals seeking to sustain or increase their market shares should diversify and penetrate specific target groups, based on differences in lifestyle. They should also consider implementing proactive marketing strategies toward international markets. Also, their competitiveness could be increased via lower medical charges and higher service quality to attract foreign customers with high purchasing power. Such patients tend to have higher average spending than domestic patients.

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