PALM BEACH GARDENS, FL – Even as China’s hospitals struggle to treat patients, the broader market for healthcare services is luring foreign investors to the World Medical Tourism and Global Healthcare Congress, June 3-5, 2106, at the Boao International Conference Center in Hainan, China, the Medical Tourism Association, which has partnered with Beijing Great-Idea Resources Company and the Hainan government to organize the event, announced today.
“As government moves to overhaul an underfunded public health system, the promise of affordable and accessible care to all Chinese has not stood still,” said Renée-Marie Stephano, President of the Medical Tourism Association®. “This means patients in China, especially seniors with major-long-term diseases including cancer and diabetes, will be willing to pay a large part of their healthcare expenses themselves.”
Stephano said that since 2009, China has invested about three trillion yuan on healthcare and the government is encouraging consumers – employers fund 40 percent of Chinese medical benefits — to spend even more.
Michael Zeng, CEO of Beijing Great-Idea Business Resources Company, said that while Beijing is rolling out a range of initiatives that loosen its grip on state-controlled hospitals and relaxes drug prices, private investors have injected $7 billion into a medical tourism pilot zone, which is seeking to attract further collaboration and become a leading health and wellness destination within the next decade.
To this end, Stephano said the Congress will feature a multi-city B2B and B2G trade mission for hosted VIPs to meet with top officials from the Chinese government and delegates representing the domestic healthcare and hospitality industries.