what-is-medical-tourism

What is Medical Tourism?

It’s no secret that surgery and medical procedures can be expensive, but what is not as well known is that the costs associated with medical tourism are most often localized costs.

The materials in the surgery are about the same price regardless of location. The actual breast implant costs the same whether you’re in New York, Houston or Costa Rica.

What makes the surgeries more expensive – often tens of thousands of dollars more expensive – is the location where you have it. Doctors charge more in different places.

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Study the medical tourism statistics

Today, if you take a look at the medical tourism statistics, you will find that progressively countries have been started becoming medicinal tourism destinations. The statistics exposed an anticipated industry growth from about $40 billion to $ 100 billion. This growth was estimated between the years 2004 – 2012. Study says that health tourism will slowly have a positive effect on the savings of several destinations all across the world.

Say for example, if you take a look at the growth of the medical tourism of Malaysia, you will find how effectively it has grown for the betterment. Reports reveal that the number of the medical tourists in that country has rapidly grown in number from 75,210 to 296,687patients. This estimation was counted from 2001 – 2006. In the year 2006, the revenue was quite good in comparison to 2001. It was around $59 million. Did you know that cosmetic surgery is considered as one of the most identified procedures in medicinal tourism? Statistics reveal that in last ten years, things have changed for the betterment and as per the report 250,000 patients have been visiting the country to undergo the best surgery.

If you research well you will find that there is no such turn back from the emerging medicinal tourism industry. To be precise, Asian countries and European countries have been chosen as the best destinations in health tourism. The industry is expecting to have a significant growth of $100 billion in revenues within this year (2012). You must also be aware of the fact that dental tourism also plays a significant part in health tourism. It is all about seeking proper dental care outside the local healthcare systems with a vacation accompanied with it.

Medical tourism in a nutshell

Medical tourism also identified as health tourism, global healthcare or health travel is a particular term coined by mass media and tour agencies. This describes the practice of travelling all across the global borders in order to get medical care. Services are usually sought by travelers, which include the elective procedures and the intricate specialized surgeries like cardiac, joint replacement, cosmetic and dental. Individuals those have rare genetic disorders might move to another country and get the best treatment for such conditions. In fact almost every form of health care like psychiatry, convalescent care, alternative treatments and other related services are also available.

Almost over 50 countries or so have identified medicinal tourism as a nationalized industry. Factors that have actually led to the growing recognition of health travel including the high cost of medical care, the affordability and ease of international travel, long awaited times in the medical procedures and developments in both standards of care and technology in several countries. As per the medicinal tourism statistics go many surgical procedures that are being practiced in the medical tourism destinations costs just a small part of the price. Say for example, it would take around $300,000 for a liver transplant in one country, while $91,000 in another country. Medical tourist come down from various locations like the Middle East, Europe, the United States, Canada, Japan and so on.

Not only medicinal tourism but dental tourism has also been equally popular amongst the people worldwide. There are several places in India that provides cost-effective, timely and quality dental care for the patients. Dental tourism is in fact considered as a division of health tourism.

American Doctors Can Learn From Medical Tourism

Recently my mother had a toothache; she went to a dentist in Philadelphia who was going to charge her over $2,000 for a root canal and a dental crown. However, she decided to wait until her vacation in Costa Rica for holidays and had the procedure done there for $200.

She was extremely satisfied with the price and more importantly the service. Her experience convinced my father to have his two front teeth replaced; to eliminate a wide gap that blemished his smile, he estimated he had saved $3,000.

According to Deloitte consulting services, 875,000 Americans like my parents were medical tourists in 2010, traveling outside U.S. borders to receive health care, cosmetic surgery, dental work, and even open heart surgery.

Doctors specialising in medical tourism procedures adhere to a simple formula: Focus on the process and on volume. “If you are investing heavily in the process, the product naturally will be good,” according to Dr. Luis Da Cruz, the head plastic surgeon at a hospital in Costa Rica. Much like large retailers such as Costco that capitalize on the power of bulk purchasing, doctors such as Da Cruz apply the same formula of process and volume to their hospitals while maintaining the standards and innovative methods they perfected in the United States.
Economists and medical experts have identified other influences that make overseas hospitals less expensive: clearly lower labor costs, but also fewer third-party payments, price transparency, limited malpractice liability and fewer regulations.

Undoubtedly American health care dollars are certain to be a major focus for providers overseas. But I was worried about the quality of health care in a developing country, where certain luxuries that we take for granted are absent.

While speaking to Dr. Da Cruz by phone he told me that the Joint Commission International — a U.S.-based organization that establishes standards for and inspects health care providers – recently inspected his hospital and passed it with flying colors. Currently 225 medical sites outside of the US are JCI-certified.

Likewise, the nurse-to-patient ratio at Da Cruz’s hospital continues to be, and has always been, one-to-one. Better than many hospitals in the US.
Doctors performing medical tourism procedures are in the unique position to offer not just great quality care, but perhaps more importantly, superior value-based care (quality divided cost). Da Cruz maintains U.S.-standard quality in the services provided in his hospital at a lower cost, thereby delivering better value than the majority of American hospitals.

Medical tourism has commanded the attention of leading medical experts and consumers alike. The industry’s focus has forever been to deliver value-based care that is high-quality health care at the lowest cost. Medical tourism is in the unique position to provide on that promise.

Medical Tourism and Insurance

Medical costs are rising in the United States and many would-be patients are fighting back by taking their medical business overseas.

This medical tourism is a booming industry and it gives citizens a chance to consider their options when it comes to expensive medical procedures. If you have excellent medical insurance, you’re unlikely to pay more than a few hundred or perhaps a thousand dollars for even large medical procedures.

Sadly most of us do not have outstanding medical insurance and a large number of Americans still have no insurance at all.

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Dental Tourism in Costa Rica

Dental work can be hugely expensive, and often insurance simply doesn’t cover much more than basic cleanings.

If you’re looking at spending thousands on dental work, you have more options than you think. Often we stick with one dentist because that’s what we’ve always done.

If you branch out from your current dentist, you’ll find new opportunities for dental work that cost far less.

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Medical Tourism Statistics

Almost four years ago, it was projected that 750,000 Americans would leave the country for medical procedures.

In a practice called medical tourism, Americans are leaving home for surgeries and recoveries in less developed nations.

The cost of the surgery is less than it would be at home and the combination of surgery and vacation makes the medical tourism package very attractive to those looking to save money and have an easier time with their surgery.

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Affordable Medical Tourism

Medical tourism is almost always more affordable than surgery in your hometown. This is especially true for elective surgeries that aren’t covered by insurance.

Cosmetic surgeries in the United States can be anywhere from $2,000 to more than $40,000. Even with a medical loan, you can expect to pay quite a bit for years to come to afford your improved figure.

For those willing to travel, medical tourism is a very real possibility to reduce the costs of your surgery substantially.

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