Russia's VTB bank initiates venture aimed at boosting healthcare tourism within the country
May 13, 09:30
Dr. Gizmo
Erid: 2W5zFHEhU1e
Get ready for a revolutionary shift in Russia's medical landscape! VTB, the bank known for its colossal reach, is launching VTB Medicine, a project designed to court patients hailing from CIS and friendly countries, seeking treatment within the Russian borders. VTB Medicine aims to orchestrate the entire medical journey, from selecting doctors and clinics to dealing with transfer and accommodations woes. The bank anticipates catering to at least a mind-boggling 1 million individuals annually.
VTB Medicine's service offerings are painstakingly comprehensive. They're here to guide you through clinic selection, cost calculations, appointment scheduling, document translation, insurance, and even patient escorts in the clinic. The initial partnership clinics – both private networks and state institutions (on a paid basis) – will join the pilot project in June. You can submit medical institution applications via the VTB Medicine website or the official information website, Russiamedtravel.ru – a project backed by the Russian Ministry of Health.
Georgy Gorškov, Deputy President-Chairman of VTB's Management Board, shares his enthusiasm for the project: "Russian doctors have long been esteemed as world-class experts, and it's no wonder that the influx of foreigners eager to receive treatment here is on the rise. Medical tourism represents a thriving economic sector, and we're eager to contribute, establishing VTB Medicine. We maintain a countrywide network, collaborate with social protection pioneers, and handle international payments, tackling one of the core obstacles for global customers. I'm confident that VTB Medicine's new project will ignite Russia's medical tourism industry."
According to General Director of VTB Medicine, Sergei Nechaev, research in CIS countries indicates a surging demand for swift and top-notch medical care. Moreover, 90% of CIS respondents demonstrate faith in Russian medicine. Thus, VTB Medicine extends a helping hand to citizens from Kazakhstan, Uzbekistan, Tajikistan, Belarus, Azerbaijan, and other nations, right from placing the order to helping you achieve the desired treatment outcome.
Currently, over a million CIS citizens receive medical treatment in Russia, while around 130,000 medical tourists travel solely for medical services, with an average bill (excluding labor migrants) amounting to $630. VTB Medicine foresees the Russian medical tourism market from the CIS countries expanding exponentially, reaching potential growth of 2 times in the number of patients and over 3 times in monetary terms by 2030, particularly in areas like neurosurgery, ophthalmology, surgery, obstetrics and gynecology, traumatology and orthopedics, cardiology, and cardiovascular surgery.
That said, the success of the project may face impediments due to ongoing sanctions imposed by the UK, EU, US, and others on Russian banks and strategic industries. However, the project's focus on CIS countries and friendly nations might serve as a potential buffer against some of these obstacles.
- The VTB Medicine project, a venture of the expansive VTB bank, aims to revolutionize Russia's medical landscape by catering to a million patients annually, particularly from CIS and friendly countries, focusing on health-and-wellness services related to medical-conditions.
- In the realm of finance and business, VTB Medicine is poised to streamline the medical journey for foreign patients, offering services like clinic selection, cost calculations, insurance, and document translation, thereby easing the process of medical tourism in Russia.
- Georgy Gorškov, Deputy President-Chairman of VTB's Management Board, emphasizes that VTB Medicine's endeavor aligns with the growing demand for high-quality medical services in CIS countries, and anticipates bolstering Russia's economy by tapping into the thriving medical tourism sector.
