Abstract
In the background of stagnant home markets, health care firms from mature economies are looking for opportunities in developing markets such as Vietnam. Various studies on marketing of health care from developed economies show convenience, specialties, reputation, and word of mouth as major choice factors for hospitals. The limited number of consumer behaviour articles from developing economies has contradictory findings for private and public hospitals with no mention of international hospitals. In this paper, the authors investigate the choice criteria and consumer perceptions of international hospitals in Ho Chi Minh City. Findings imply that younger consumers prefer private care as they suffer from minor illnesses and prioritize convenience, customer service and comfortable facilities. Some older patients are more conservative, seeking government sites due to trust, familiarity and insurance coverage. Irrespective of age and income, all those who experienced international hospitals where left with a lasting positive impression of the caring consultation and staff, modern equipment, and ‘VIP feel’ of facilities, with price quoted as the main barrier.
Highlights
With the increase in globalization, developing markets are the target of a growing number of health care providers from mature economies such as International SOS (London), CMI (France), and Fortis Group
As reflected in the interviews, choice factors for trial and repurchase at international hospitals appear to be quite different from drivers for local public and private care
The key choice criteria for local patients of international hospitals in HCMC on pre-visit are: Trial triggered by exposure, own research after peer recommendation, indirect past experience, and convenient location
Summary
With the increase in globalization, developing markets are the target of a growing number of health care providers from mature economies such as International SOS (London), CMI (France), and Fortis Group (from Singapore). Current world health care spending has been estimated at around $7.2 trillion or 10% of world GDP [1] and projected to reach $18 billion by 2020 [2]. Within Asia, Vietnam has an average spend of 6.4% of GDP on health care, which places it higher than Myanmar (2%) and Laos (4.5%), but lower than more developed economies, e.g. Japan at 10% of GDP [3]. With a growing middle class and increase in lifestyle diseases, the market offers great opportunities for international firms, as imports account for 80% of pharmaceuticals and over 90% of medical devices [5]. Facilitated by WHO initiatives and the recently signed TPP, private health spending is captured by a few foreign and joint-venture hospitals which cater to the affluent segments in Hanoi and Ho Chi Minh City [6]
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