![]() To convert noncustomers into new customers they had to address pain points that were preventing people from choosing Thailand as a healthcare destination. ![]() To create huge market opportunities they had to look beyond existing demand from healthcare customers to the noncustomers of the healthcare industry, and Ģ. To create this blue ocean Thai hospitals and policymakers depended on two crucial insights ġ. How did Thailand create its blue ocean in medical tourism? It became a #1 medical tourism destination by volume of care in 2014 and attracted over 2.4 million foreign patients in 2017, while Thai hospitals such as Bumrungrad International and Bangkok hospitals have emerged as industry leaders with impressive growth and profits.īumrungrad International Hospital, for example, has grown to become the largest private hospital in Southeast Asia with revenues of over US$540 million and a net margin of over 20%, the highest among Thai private hospitals. ![]() Medical tourism, a combination of tourism and medical treatment, has become its own industry and grown rapidly thanks to the blue ocean approach taken by a couple of healthcare players and savvy governments. As a result, Thailand has succeeded in positioning itself as a top destination for medical tourism.
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