THE RISE OF MEDICAL TOURISMOver the last 20 years, the standard of healthcare has rapidly improved in a growing number of lesser developed countries. In many cases, the doctors and specialists in these countries were trained in the top medical and dental schools in the U. S. These emerging countries boast a variety of modern hospitals and state-of-the-art outpatient facilities. Often, the technology is newer and even more advanced than the equipment used in facilities in the USA.
The bottom line is that many lesser developed countries now offer world-class medical services. In fact, they often exceed the standards you would expect in the U.S. or Europe --but at a small fraction of the cost.
Medical tourism began primarily with elective and cosmetic procedures. Today, growing numbers are traveling for life-saving and medically necessary procedures, such as joint replacements, cataract surgery, bone marrow transplants, and even bypass surgery. Virutally any mediccal procedure can be safely obtained for pennies on the dollar in a foreigh country.
A recent CNN article told the story of 61-year old, Sandra Giustina. Without insurance, she had no way to afford the heart surgery she needed to correct an abnormal heart rhythm. The surgery would have cost $175,000 in the United States. Instead, she traveled to New Delhi, India. There she had the operation for less than $10,000. That included the cost of travel...and a brief vacation after her recovery.
And her experience was not unusual. According to the Medical Tourism Association, here are the approximate costs of several procedures:
Heart Bypass $150,000 in the U. S. $8,500 in India
Liver Transplant $315,000 in the U. S. $75,000 in Latin America
Dental Implant $2,500 in the U.S. $1,000 in Costa Rica
Face Lift $15,000 in the U.S. $4,000 in Singapore
Knee Replacement $40,000+ in the U.S. $10,650 in Mexico
Hip Replacement $50,000+ in the U.S. $8,000 in Philippines
Bone Marrow Transplant $250,000 in the U.S. $25,000 in India
Now. . .
Breast Cancer Treatment $200,000+ in the U.S. $10,000 in Ecuador*
*Ecuador has the only treatment for breast cancer that is free of chemotherapy, radiation or radical destructive surgery. Women go to Ecuador and enjoy their vacation and return to their country breast cancer-free. Ecuador's promise is if the same breast cancer ever returns, they will treat it without cost. No oncologist or institution in the world will make this offer because there is no other technology available, like that in Ecuador, to arrest breast cancer permanently.
When you consider the costs, it is easy to see why medical tourism is booming. But cost is not the only reason why people are traveling for healthcare.
Surging demand in the developed world is exposing the flaws in the USA system. Under the socialized healthcare plans in the U. K. and Canada (and possibly soon in the USA), for example, some patients are required to wait years for treatment they need today.
In the USA, the wait imes are not as long, but the medical system has become a massive paper-pushing bureaucracy. It is plagued by fraud, inefficiency and waste. And the costs of healthcare have risen to the point of being ridiculous. Those who are uninsured have very few choices within the current system.
In fact, before the financial and housing crisis, the number one cause of bankruptcy in the United States was due to medical expenses. This is not surprising when you consider that 45 million Americans have no health insurance coverage.
What about the Service and Standard of Care?
Doctors, dentists, and hospitals that cater to medical travelers actually have to meet a higher standard of service than those in your home country. These facilities and practitioners have to compete in the free market for cash-paying customers.
They also get much of their business from word-of-mouth referrals. Unless their patients receive a high-quality experience, they are unlikely to spread the word.
In some cases, options exist for full-service travel arrangements, private chefs and adjoining suites where family members can stay close to their loved ones.
An appointment with a specialist, diagnostic testing and follow-up can often be competed within hours. In the USA, that would usually require several appointments and hours upon hours in waiting rooms.