Medical tourism becoming a major player in healthcare industry

As the global costs of healthcare continue to rise there has become a unique offering in the Asian medical market as nations like India, Thailand, Singapore, and Malaysia are moving to capitalize on their ability to offer high quality medical treatments at lower costs than anywhere else in the world. This new phenomenon of “medical tourism” is becoming increasingly more lucrative for a number of South Asian nations as their operating costs in the healthcare industry tend to be much lower than those associated with the western market; and because the operating costs are lower the cost of treatments is consequently low as well.

Medical tourism comes at a time when the number one reason for individuals in the USA to declare personal bankruptcy is because they are unable to afford their medical bills. The costs of healthcare in the western world have risen to such an extent that it is becoming risky, in the financial sense, for many people to receive the care that they need as by doing so they are potentially lining themselves up for big economic losses. However, with medical tourism comes a plethora of previously unavailable treatment options and the ability to receive quality healthcare at a much lower price than in America or Europe.

The rise of medical tourism as a viable healthcare industry sector around the Asia Pacific region is becoming more evident as innovative healthcare reforms are being instituted by a number of Asian governments. In India the government has established specialist medical tourism service centers to help foreign nationals receive the best treatment possible, Thailand has taken a different route by offering healthcare services in a 5 star resort surrounding complete with tours of Bangkok. Whatever the various governments are doing to entice individuals from overseas into using their medical service, it is working.

In 2005 Bumrungrad Hospital in Bangkok received approximately 150,000 patients from overseas, while Singapore saw an estimated 374,000 medical visitors for the year. The reason that these countries are so successful is the fact that they are able to offer the same quality of care as can be found in one of the USA’s top hospitals but for a fraction of the price. A typical heart bypass procedure in the USA can cost up to US $130,000 without any complications. This same procedure in Thailand will cost, on average, approximately US$ 11,000 and $ 10,000 in India. Even adding in the costs round trip airfare and the costs of receiving treatment in an Asian medical facility are much lower than that same treatment in an American or European hospital.

Even though the costs associated with a medical tourism destination or hospital may be comparatively lower than many patients are used to they can still be quite expensive. A US$ 10,000 medical bill may be easier to afford than one that costs US$ 100,000, but it is rare for any individual to have that much disposable money ready for just such an event, and in the case of many of the procedures that are gaining popularity in the medical tourism market, they are medically necessary (that is to say that the rather than being cosmetic surgeries, the patient needs the treatment in order to live). The benefits of the medical tourism industry are evident, however it can still be risky to obtain the treatment that is deserved as patients are still liable to significant financial losses as many local insurance plans will not cover treatments overseas.

The only way to protect yourself or your loved ones in a world where medical costs are becoming increasingly more expensive and where local health insurance plans limit a patients ability to choose where they choose treatment is with an international medical insurance policy. By allowing yourself the full range of treatment options associated with an international health insurance plan you are able to choose hospitals and doctors anywhere in the world for your medical care. In a world where the medical tourism industry is exploding and the costs of medical treatment are rising all the time, an international health insurance plan makes sense.

September 28, 2007 | Filed Under Health Issues, Uncategorized | Leave a Comment 

Rich Diseases Move Into Poor Countries

Western diseases have been dispersed across the globe since the age of exploration. When European troops alighted in the new world, they brought with them all kinds of infectious diseases that devastated the native populations of Asia and the Americas. Back then, the so-called “afflictions of affluence” that originated in the West were syphilis and influenza. Many centuries later, the conditions suffered by the rich have evolved into chronic conditions that take years to develop and will not be cured.

Changing lifestyles have made cancer and diabetes the new silent killers, which take lives in wealthy countries while impoverished nations deal with infections. The United Nations has focused on combating infectious diseases to improve life in developing countries. However, as the public health and quality of life improves in low-income countries, the chronic illnesses that once plagued only the richest countries are now becoming the most serious threat in poor countries as well.

Afflictions like diabetes, heart disease and cancer are all a product of the modern lifestyle: inactivity as a result of urbanization and a general disregard for health. Poor diets, smoking and increasing pollution also contribute. As a result, developed countries must invest funds in treatment and research in order to combat these incurable maladies.

Malaria, tuberculosis, measles and cholera are all big problems in poor countries, though can be easily controlled with inoculation and treatment. These “ailments of poverty” used to be the most ominous health concerns in poor countries, but chronic conditions have recently surpassed infections as the biggest global killer. Nevertheless, worldwide health organizations are focusing on infections as an impediment to development rather than trying to institute preventative measures for the chronic afflictions that accompany this modern world.

Perhaps the most pivotal issue in the evolution and spread of chronic conditions is that these diseases hit younger and kill more quickly in lower-income countries than in middle- or high-income countries. Currently, chronic ailments account for half of the illnesses in poor nations, which is a huge drain on the health system and labor force. Because of inferior health infrastructure and lower general well-being, chronic diseases take their toll more easily than in countries where people have a good diet and the aid of knowledgeable physicians. Africa is the only continent where more people die from infectious diseases than from chronic ones. Health officials estimate that by 2015 chronic disease will be the top killer globally.

In 2005, three quarters of the deaths from chronic afflictions occurred in poor countries. This shows that international awareness needs to shift in a different direction. Rather than focusing on infection as a threat, authorities need to start targeting prevention and treatment of chronic ailments. People are living longer, getting fatter and smoking more in poor countries, resulting in rapidly escalating numbers of patients with diabetes and cancer. The trend is reversing in rich countries, where people are taking better care of their bodies and ridding their lives of cigarettes.

So why does it remain that people are more concerned with bird flu than with hypertension? Ostensibly, it may be because infections are simpler to treat, usually with immunization or drugs, and chronic diseases require long-term management. But as the world continues to develop and lifestyles evolve, more resources must be allocated to care for these chronic diseases as they eclipse infections as a threat to world health.

August 20, 2007 | Filed Under Uncategorized | Leave a Comment