【EXPERT Q&A】How to Start a Medical Device Trading Company?

January 16, 2024  Source: drugdu 235

Drugdu.com expert's response:

Medical trade, encompassing international exchanges of goods and services in the healthcare sector, is a distinct kind of commerce. Like other commodities, the trade of medical services includes both imports and exports.

The essence of medical service trade lies in the local export of goods and services, characterized by its comprehensive and integrative nature.

a. Local Export of Goods

In countries or regions providing medical facilities, expenses incurred by international patients and their families for medical care, food, accommodation, transportation, tourism, shopping, and entertainment are paid in foreign currency. This method of generating foreign exchange revenue essentially represents a form of local export trade, realized through the provision of medical services on-site.

b. Local Export of Services

Apart from purchasing and consuming medical material products, patients and their families also utilize various service-related activities, as medical products inherently involve a significant proportion of service labor. For example, the service of dispensing medicines at pharmacies involves activities such as doctors prescribing, pharmacists preparing medications, and nurses administering drugs. When patients pay for these medical services in foreign currency, it characterizes the provision of medical labor as a local service export.

c. Comprehensive and Integrative Operation

The comprehensive nature of medical service operations involves paying for both medical and non-medical goods to meet consumption needs during medical treatment. These include medical history taking, examinations, testing, diagnosis, prescriptions, treatments, hospitalizations, transfers, physical check-ups, and immunization programs; non-medical aspects include food, transportation, and tourism. Therefore, the medical services offered are comprehensive, integrating a mix of both material and immaterial products. The integrative aspect of medical services refers to all aspects of patient care, catering to diverse needs regardless of the severity or type of illness, focusing on quality and content of service.

Setting up a medical device trading company should be tailored to these specific industry characteristics.

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By editor
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