ON THE ROAD FOR RECOVERY
Medical tourism is a billion-dollar industry. "For a long time, people said it was just a fad," says Renee-Marie Stephano, COO for Medical Tourism Association. "Now with the economy and the credit crisis, more people are paying attention to international healthcare." How big is the market? A Deloitte study estimates up to 6 million Americans, for example, will seek foreign care in 2010, up from 750,000 in 2007. Here are some of the major reasons patients are crisscrossing the globe.
1. Savings: For those without insurance or those needing operations insurance won't cover, medical tourism can be an affordable alternative to the skyrocketing costs of health care. While there is the risk of not having a firm legal recourse if something goes wrong, you can at least know your money is going towards your actual care rather than to administrative costs.
2. Shorter Waits: Even people who live in countries with public health care coverage often choose to take their treatment abroad because overburdened hospitals and doctors can have long wait periods for surgeries on conditions that are not life-threatening.
3. Quality: Many doctors have been trained abroad, and some are leaders in their fields. With careful research, it's possible to get the same, if not better, treatment in their countries than you could at home.
4. Insurance Coverage: More and more insurance providers are covering treatment abroad, as it saves them in costs as well. Aetna, Wellpoint, Assurance, and Swiss Re all have programs.
5. Same Facilities and Equipment as Home: Because medical tourism is such a big industry, hospitals are making big investments in equipment and technology to draw more patients.
6. Service and Comfort: Patients can expect a high level of personal care and attention from hospitals and clinics, many of which are corporately owned. Private rooms and luxury accommodations aren’t unheard of.
SOURCES: Deloitte study (http://www.deloitte.com/dtt/article/0%2C1002%2Ccid%25253D217866%2C00.html).
Renee-Marie Stephano, COO for Medical Tourism Association, renee@medicaltourismassociation.com, 561-791-2000
1. Savings: For those without insurance or those needing operations insurance won't cover, medical tourism can be an affordable alternative to the skyrocketing costs of health care. While there is the risk of not having a firm legal recourse if something goes wrong, you can at least know your money is going towards your actual care rather than to administrative costs.
2. Shorter Waits: Even people who live in countries with public health care coverage often choose to take their treatment abroad because overburdened hospitals and doctors can have long wait periods for surgeries on conditions that are not life-threatening.
3. Quality: Many doctors have been trained abroad, and some are leaders in their fields. With careful research, it's possible to get the same, if not better, treatment in their countries than you could at home.
4. Insurance Coverage: More and more insurance providers are covering treatment abroad, as it saves them in costs as well. Aetna, Wellpoint, Assurance, and Swiss Re all have programs.
5. Same Facilities and Equipment as Home: Because medical tourism is such a big industry, hospitals are making big investments in equipment and technology to draw more patients.
6. Service and Comfort: Patients can expect a high level of personal care and attention from hospitals and clinics, many of which are corporately owned. Private rooms and luxury accommodations aren’t unheard of.
SOURCES: Deloitte study (http://www.deloitte.com/dtt/article/0%2C1002%2Ccid%25253D217866%2C00.html).
Renee-Marie Stephano, COO for Medical Tourism Association, renee@medicaltourismassociation.com, 561-791-2000