The healthcare sector within the GCC predominantly caters towards an indigenised-based healthcare system, relying primarily on local healthcare facilities to bridge the gap between premium and mid-care markets, with very few international competitors.
According to Karan Rekhi, Forte Healthcare's CEO, ample opportunities lie within the mid-market care segment, which constitutes almost 30 per cent of the population - a recess in the healthcare industry that international companies can profit off of in the region.
"There is adequate room for international companies to enter the regional market," states Rekhi, "There is an incredible amount of opportunity as of now."
"We believe international players operating in the mid-market segment would succeed in the GCC or MENA region because of the tremendous scope in this niche. International companies, large conglomerates operating businesses worldwide, or other physician-led organisations could enter the market."
Presently, International Hospital Operations and groups focused on the premium segment now saturate less than 10 per cent of the population. The majority of insurance companies are renegotiating contracts to low to mid-market prices; recently, most of the leading healthcare operators are premium segment, but also accept lower network cards.
Additional to patient experience and quality maintenance at the same level as mid-market entrants by large physician groups, operators shall make international healthcare affordable and available to the majority of the population, promoting universal preventive healthcare and wellbeing for all.
Opportunities are endless for international companies to break into this gap in the market, ranging from improvements in governance to the already established mid-tier hospitals and clinics, to the creation of new healthcare ventures from the ground up, with the help of Forte Healthcare.
Copyright © 2021 Khaleej Times. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).