Constantine Constantinides
“Health Tourism made investable”
The “definition and scope” of Internet Century Health Tourism (in bullet point form) appears at the end of this article.
Also included is a short reference to the “then” and the “now”.
Preamble
…a very short note on Contemporary Health Tourism (a.k.a. Internet Century Health Tourism – with both terms now represented by ht8)
Contemporary Health Tourism (a.k.a. Internet Century Health Tourism - with both terms now represented by ht8) is the “product” of a Transformation Process.
The transformation involved the “concept and practice” (from Conventional to Contemporary).
As a result of this “transformation”, Health Tourism, as an “activity”, was repurposed, from a “need” (to be endured due to financial circumstances) to a “want” (to be enjoyed as an attractive, broad appeal, lifestyle choice - for the youngerly, the elderly and the in-between – for a lifetime.
In short, one can credibly claim that Health Tourism has been benevolently disrupted - and that the "game" has been changed.
See LinkedIn article: the Benevolent Disruption of Health Tourism - through Concept & Practice transformation and Activity repurposing
( (1) the Benevolent Disruption of Health Tourism | LinkedIn ).
No Sector – No Investment
…the reason investors did not invest in businesses related to Health Tourism
As has been demonstrated (using convincing arguments and facts), Health Tourism in its innate (i.e., original) state (a.k.a. Conventional Health Tourism and also as “Medical Travel”, because of its focus on Medical Tourism), has none of the attributes of an Economic Sector.
In other words, it was – and is - a “non-sector”.
As a consequence, enterprises (businesses) deemed to be related to Health Tourism, were not regarded as of investment relevance and interest.
In other words, they were not “investable”.
Investable:
· suitable to be invested in
· an object suitable as an investment (Dictionary.com)
This changed, and investors started considering Health Tourism “differently”, as a result of the Transformation Process and its Outcomes (as these are listed further down) – which elevated Health Tourism to the status of an Economic Sector.
And, we know that investors, often, only invest in recognized Sectors – and that nothing happens without investment.
By the way, for Contemporary Health Tourism, the issue of investment has been designated a Strategic Concept and Practice.
With plans for the establishment of a Marketplace, possibly to be named “ht8 Agora” (“agora” meaning marketplace in Greek), expect to see operators of Investment Funds, which have an agenda for investing in Marketplaces, making an appearance.
And, since we are talking about “investment”, it is worth mentioning here that one of the Transformation Process Outcomes (included in the list below) is the Punt Strategy – designed to enable the connection of the Investor with the Investee – and ensure that Investment “happens”.
the Transformation Process Outcomes
…which contributed to making Health Tourism – and its Enterprises – “investable”
The Transformation Process Key Results (a.k.a. Outcomes) – in random order - are:
expansion of the Industry (the Supply Side) so that it can now address a much-broader Market (the Demand Side) - meaning more money for all
the repurposing of the activity (from a “need” to a “want”) – making it an attractive, broad appeal lifestyle choice – for a lifetime
establishment of a Structural Framework
arcHTos (the Architecture and Operating System - with its set of Foundational Innovation Strategies and Protocol – serving as a blueprint for “how to do”)
Punt Strategy (one of the arcHTos Foundational Innovation Strategies – designed to enable the connection of the Investor with the Investee – and ensure that Investment “happens”)
a set of Strategic Concepts and Practices (to provide knowledge and insights during the process of designing, creating – or transforming – and then operating arcHTos Derivatives)
a Curriculum-based Professional Education System (which leads to Professional Literacy)
a Sector-specific Vocabulary - so that all Sector Stakeholders speak the same language – and understand the same things
a Rating System - based on Objective Criteria (as opposed to a manipulatable Ranking System)
a well-defined and integrated Stakeholder Base (all the Individuals [natural entities], Groups and Legal Entities who have a vested interest in the ecosystem, are affected by it or can influence it)
a supply-side Coalition
a Stakeholder Movement
a Marketplace
The transformation process “outcomes” are responsible for elevating Health Tourism to the status of Economic Sector.
Definition
The definition of Health Tourism:
Provision and Consumption of “health-related” Services – which involves some travel
Scope
The 8 Health Tourism Segments:
Medical Tourism (and its “sub-divisions” – i.e., specialties in Medicine and areas of clinical focus)
Dental Tourism
Spa Tourism
Wellness Tourism
Sports Tourism
Culinary Tourism
Accessible Tourism
Assisted Residential Tourism (technology-enabled Housing and Care abroad)
Health Tourism ‘then” and “now”
the Then
known as “Conventional Health Tourism”
Fragmented (and consequently, Inefficient)
A non-Sector
a “need” (to be endured and dictated by “circumstances” – essentially, financial)
Narrow Scope – the Short Tail
a generic entity (a Commodity)
associated with “shortcomings” in the form of Fallacies, Deficiencies and Failings (the reason for its transformation and repurposing)
the Now
Known as Internet Century Health Tourism (a.k.a. Contemporary Health Tourism – both represented by ht8)
Integrated (and consequently Efficient)
an Economic Sector (Sector of the Economy)
a “want” (to be enjoyed as an attractive, broad-appeal, lifestyle choice – for all - for a lifetime)
Extended Scope – the Long Tail
a cachet – an entity associated with a brand (ht8)
Associated with Advantages and Benefits:
Expands the Industry (Supply Side) so that it can address a much broader Market (the Demand Side) – meaning more business for all (in fact, as becomes obvious, ht8 expands the Sector (Industry and Market), as a whole
Re-purposes Health Tourism (from a “need” to be endured - and dictated by “circumstances” – essentially, financial) to a “want” to be enjoyed) – in other words, it has changed how Health Tourism is experienced (by turning Health Tourism into an attractive Lifestyle Choice – and activity)
Makes every tourist / traveler a potential Health Tourist
Makes Health Tourism a broad appeal lifestyle choice for all – for a lifetime
Integrates (brings together) the Health Tourism Segments (to deal with fragmentation and inefficiency) – whilst ensuring that each segment maintains its “identity, distinctiveness and independence” is maintained