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What is Medical Tourism?
BAC Medical Tourism has positioned itself as the global leader in medical tourism with over 75 providers in over 20 countries worldwide. Without fully understanding what medical tourism is, the previous sentence means absolutely nothing. Therefore, the following is an overview of what medical tourism is, and how it's growing in importance as a viable healthcare alternative for Americans, as they face the hard reality and negative consequences of the Affordable Care Act (Obamacare):
Global health, more commonly referred to as medical tourism or medical travel, is growing at a rapid rate, as more and more individuals and companies alike are discovering the wonderful benefits that are inherent in accessing the great quality healthcare available outside of the USA. This in turn creates a better and less expensive healthcare experience for those involved, in destinations such as Costa Rica, which is ranked higher than the USA for quality of healthcare by the World Health Organization (WHO). Deloitte Consulting predicts that by the year 2017, an estimated $50 billion in healthcare will be outsourced. This is occurring as American patients try to find less-expensive alternatives, and patients in countries like Canada have become tired of the long waiting lists, feeling they can do better and get quicker results in other countries.
Medical tourism now generates more than twenty-billion dollars annually and is one of the quickest and largest growing industries in the world. While the number of uninsured persons and those with higher deductibles continues to climb, many are opting to be treated outside their own country, where they can afford the treatments they require in a timely fashion. As Americans slowly uncover how the Affordable Care Act (Obamacare) will affect their coverage and savings in the coming years, other financially savvy and adventurous patients and baby boomers have chosen to turn to a growing healthcare phenomenon overseas. Of course, it's medical tourism, and in addition to providing Americans with an alternative source of medical care, it's also reduced costs on popular treatments and procedures by thousands of dollars. Many of these foreign countries offer low cost, or cost effective, treatments and procedures with no waiting lists, so medical tourists are flocking to these places like never before. Today’s expectation is that this industry will continue to grow at a rapid rate and continue to add new countries offering medical treatments and procedures to tourists at a fraction of the cost they can get in the USA.
Benefits of Medical Tourism
As medical tourism becomes more and more popular, more people are finding benefits offered through being treated away from home. Some of the benefits include:
BAC Medical Tourism has positioned itself as the global leader in medical tourism with over 75 providers in over 20 countries worldwide. Without fully understanding what medical tourism is, the previous sentence means absolutely nothing. Therefore, the following is an overview of what medical tourism is, and how it's growing in importance as a viable healthcare alternative for Americans, as they face the hard reality and negative consequences of the Affordable Care Act (Obamacare):
Global health, more commonly referred to as medical tourism or medical travel, is growing at a rapid rate, as more and more individuals and companies alike are discovering the wonderful benefits that are inherent in accessing the great quality healthcare available outside of the USA. This in turn creates a better and less expensive healthcare experience for those involved, in destinations such as Costa Rica, which is ranked higher than the USA for quality of healthcare by the World Health Organization (WHO). Deloitte Consulting predicts that by the year 2017, an estimated $50 billion in healthcare will be outsourced. This is occurring as American patients try to find less-expensive alternatives, and patients in countries like Canada have become tired of the long waiting lists, feeling they can do better and get quicker results in other countries.
Medical tourism now generates more than twenty-billion dollars annually and is one of the quickest and largest growing industries in the world. While the number of uninsured persons and those with higher deductibles continues to climb, many are opting to be treated outside their own country, where they can afford the treatments they require in a timely fashion. As Americans slowly uncover how the Affordable Care Act (Obamacare) will affect their coverage and savings in the coming years, other financially savvy and adventurous patients and baby boomers have chosen to turn to a growing healthcare phenomenon overseas. Of course, it's medical tourism, and in addition to providing Americans with an alternative source of medical care, it's also reduced costs on popular treatments and procedures by thousands of dollars. Many of these foreign countries offer low cost, or cost effective, treatments and procedures with no waiting lists, so medical tourists are flocking to these places like never before. Today’s expectation is that this industry will continue to grow at a rapid rate and continue to add new countries offering medical treatments and procedures to tourists at a fraction of the cost they can get in the USA.
Benefits of Medical Tourism
As medical tourism becomes more and more popular, more people are finding benefits offered through being treated away from home. Some of the benefits include:
- Lower cost - The greatest advantage patients are finding when seeking medical treatments or procedures in foreign lands is the ability to comparison-shop, and to better gauge the amount of cost savings they will actually realize. Even after paying for their plane ticket, food, accommodations, and treatment / procedure, they are often paying less for all of it, then they do at home for just the medical treatment / procedure alone. Today, the treatment / procedure received by some patients in foreign countries can be as little as a tenth of the cost for the same treatment in the USA, with a conservative savings range on the medical care being 50-70%. This is often the key driver for someone considering medical tourism.
- You know what your costs will be upfront - Most foreign hospitals are more than willing to provide you an upfront estimate of your medical treatment / procedure, as well as your lodging, making it easy to calculate your overall financial costs. Whereas in the USA, it can be harder to get a firm price estimate that the provider will honor and stick to.
- You may receive better treatment in foreign hospitals - This is a surprising advantage to most people when it involves medical care. Most of the foreign hospitals now provide more personal and better care than a lot of USA hospitals. In order to attract overseas patients, these hospitals offer outstanding quality and service, in facilities that are as well equipped as USA hospitals, so patients quickly figure out they will receive better care and more luxury in the foreign hospital than in the USA hospital
- You don’t have to wait - For high demand services, foreign hospitals can have you in and out, fully recovered by the time you would have just gotten an appointment for certain elective services in the USA. In an environment where the faster you treat a problem, the better it is for your health, the quick treatment provides some of the patients who need urgent care, great peace of mind and a sense of satisfaction, which speeds up their recovery time.
- Enjoy the "tourism' part of medical tourism - You can enjoy a vacation while you recuperate and enjoy a stunning beautiful environment far from home, where recuperating on a beach close to lapping waters or shopping downtown in a specialty boutique is just the right medicine to quicken your recovery.
Medical Tourism Videos
To view videos from two major news outlets (CNN & ABC News) reporting on medical tourism, please play the two videos at the bottom of the page.
A September 30, 2013 special report that aired on ABC World News / Nightline, explains how an American company, based in North Carolina, encourages their employees to travel to Costa Rica to have surgical procedures performed, rather than have them done in the U.S., as it is more cost effective for both the company and the employee. The surgeon featured in the report, Dr. Oscar Oeding, is the same surgeon BACMT uses, as is the hospital mentioned, Hospital Clinica Biblica. To view the entire report, please play the video located immediately below and on the left.
An October 9, 2013 special report that aired on CBS News / CBS This Morning, focused on the rising cost of healthcare that is causing a lot of Americans to find cheaper options abroad. CBS News travel editor, Peter Greenberg, reported on one of the fastest-growing sectors in the travel industry - medical tourism. To view the entire report, please play the video located immediately below and on the right.
To view videos from two major news outlets (CNN & ABC News) reporting on medical tourism, please play the two videos at the bottom of the page.
A September 30, 2013 special report that aired on ABC World News / Nightline, explains how an American company, based in North Carolina, encourages their employees to travel to Costa Rica to have surgical procedures performed, rather than have them done in the U.S., as it is more cost effective for both the company and the employee. The surgeon featured in the report, Dr. Oscar Oeding, is the same surgeon BACMT uses, as is the hospital mentioned, Hospital Clinica Biblica. To view the entire report, please play the video located immediately below and on the left.
An October 9, 2013 special report that aired on CBS News / CBS This Morning, focused on the rising cost of healthcare that is causing a lot of Americans to find cheaper options abroad. CBS News travel editor, Peter Greenberg, reported on one of the fastest-growing sectors in the travel industry - medical tourism. To view the entire report, please play the video located immediately below and on the right.
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