Medical Tourism

In: Science

Submitted By dshri
Words 1451
Pages 6
MEDICAL TOURISM

ABSTRACT A growing number of people are discovering the benefits of medical tourism. In the U.S.A and throughout the western world, it is becoming common knowledge that medical tourism offers a cheaper option for receiving medical treatment without compromising on quality1. The costs of medical treatment and state-of-the-art technology are the most important factors for Americans in making a decision to travel abroad for treatment2. The cost-conscious factor and availability of accredited facilities have led to the emergence of several global medical tourism corridors3. Asia leads the medical tourism industry worth billions4. Amongst these corridors of health, India has the second largest number of accredited facilities3.
INTRODUCTION:
The health care industry within the United States continues to face unprecedented increases in costs, along with the task of providing care to an estimated 33 million uninsured or underinsured Americans, which constitutes about 10.4% of the U.S. population7. The demand for low-cost health care services is driving patients to seek treatment on a globally competitive basis, while balancing important quality of care issues. The trend, known as medical tourism, which refers to traveling to another country for medical care, is on rise8. In the past few years, Asia has taken the lead as one of the most preferred destination for medical value travel9. Forbes reported that medical tourism is growing by 20% per year. The latest estimates put it as a $50 to 65 billion industry with upward of 1.25 million Americans seeking treatment in other countries each year3, for cut-price healthcare. They are doing this in a bid to avoid the astronomical cost of undergoing treatment at home.
U.S. HEALTH CARE STATISTICS:

In 2013, Nerd Wallet Health analyzed data from the U.S. Census, Centers for Disease control, the federal…...

Similar Documents

Medical Tourism Industry - Advantage India by C.B. Venkata Krishna Prasad

...Medical Tourism Industry - Advantage India C.B. Venkata Krishna Prasad* Traveling abroad for health is not a new phenomenon. Medical tourism is actually thousands of years old. In ancient Greece, pilgrims and patients came from all over the Mediterranean to the sanctuary of the healing god, asklepios; the god of healing was located at Epidaurus. In roman Britain, patients took the waters at a shrine at bath, a practice that continued for 2,000 years. During 18th century wealthy Europeans used to visit health resorts in North Africa. But in the past seven years or so, the movement has accelerated sharply. It is growing rapidly and turning out to be an immense business opportunity for nations which have the strategic advantage of having resources in terms of medical technology, infrastructure and right human resources. Cross-border travel for health reasons is a $40 billon market and growing at over 15% a year throws up huge opportunities for anyone smart enough to tap it. Broadly defined as a collaboration of medical services with the tourism industry, healthcare tourism offers cost effective medical services for individuals who cannot afford these services in their country due to high costs or to people who are tired by long waiting times. Also patients from countries, where treatment is not available, can avail the benefits of healthcare tourism. Countries that are actively promoting healthcare tourism include Belgium, Singapore, Malaysia, India, Thailand, Cuba, Costa Rica,...

Words: 2679 - Pages: 11

Medical Tourism

...| Panic DisorderPsychology Assignment | Rohit Jayal | 11/20/13 | XI-C | | | Panic DisorderPsychology Assignment | Rohit Jayal | 11/20/13 | XI-C | | Contents 1 Signs and symptoms 2 Causes 3 Psychological Models 4 Medical Model 5 Mediators and moderators of panic disorder 6 Substance abuse 7 Diagnosis 8 Treatment 9 Psychotherapy 10 Medication 11 Other treatments 12 Epidemiology. 13 Panic disorder in juveniles 14 Case Study. Definition Panic disorder is an anxiety disorder characterized by recurring severe panic attacks. It may also include significant behavioural changes lasting at least a month and of ongoing worry about the implications or concern about having other attacks. The latter are called anticipatory attacks (DSM-IVR). Panic disorder is not the same as agoraphobia (fear of public places), although many afflicted with panic disorder also suffer from agoraphobia. Panic attacks cannot be predicted, therefore an individual may become stressed, anxious or worried wondering when the next panic attack will occur. Panic disorder may be differentiated as a medical condition, or chemical imbalance. The DSM-IV-TR describes panic disorder and anxiety differently. Whereas anxiety is preceded by chronic stressors which build to reactions of moderate intensity that can last for days, weeks or months, panic attacks are acute events triggered by a sudden, out-of-the-blue cause: duration is short and symptoms are more intense. Panic......

Words: 816 - Pages: 4

The Rise of Medical Tourism in Bangkok

...of medical tourism in Bangkok While most travellers aim to stay out of the hospital while on vacation, a growing number of medical tourists – people who combine treatment with travel -- are crossing international borders for the sole purpose of attaining medical services, which can range from a hip replacement to a tummy tuck.   * Related video: Going local -- Bangkok, Thailand Widespread air travel, mounting healthcare costs in developed countries, long waiting lists and an ageing world population have all contributed to a global explosion of medical tourism in the past decade -- and Asia is leagues ahead in terms of world market share. More than 89% of medical tourists travelled to Thailand, India orSingapore in 2010, with Bangkok and Singapore leading the pack. But the cost of hotel rooms and treatment are both far more expensive in Singapore than in the Thai capital, making Bangkok the most popular place for medical tourism in the world. Even after the devastating floods of 2011, 19 million tourists visited Thailand in 2011, a 20% jump from 2010, with an estimated 500,000 travelling specifically for medical treatment, whereas of the 10.2 million tourists that visit Singapore each year, only 200,000 go to receive medical care. The trend is lucrative too. Medical tourism in Thailand is growing at a yearly rate of 16%, while in financial terms the foreign medical services sector is expected to make a whopping 100 billion baht by 2015. Currently, medical tourism......

Words: 769 - Pages: 4

New-Fangled League: Cruise, Medical, Film, Wedding and Spiritual Tourism

...New-fangled league: Cruise, Medical, Film, Wedding and Spiritual tourism Shivgit Dhaliwal 1.Abstract Tourism is an age old activity associated with civilized nations. Thus, tourism literature too has a long history. This paper critically exam the positioning of a New-fangled league of tourism products in India. The creation of New- fangled tourism products like medical tourism, spiritual tourism, religious circuits, wedding tourism, cruise tourism, caravan tourism and film tourism has served to widen the net of this sector. Inbound tourism is booming and the country is going all out to lure more travelers from around the world. Contrary to perceptions across the world that tourism in India is still limited to traditions, the country is opening up with trendy tour packages and reasonable air travel deals to woo inbound visitors from every segment. The paper will explore the different innovative ideas for improving tourism product which have added a new dimension to the tourism industry. Thus, it’s going to focus on different forms and positioning of tourism products in India. The benefits of this work would be presenting insights into a new-fangled tourism products and consumers of such, and an understanding of the challenges destinations face along the New- fangled league tourism life cycle. Finally, the practical benefits of this work to industry include a greater understanding of positioning and targeting their products. To......

Words: 5173 - Pages: 21

Medical Tourism

...THE FACTORS THAT PROMOTE AND FACILITATE MEDICAL TOURISM IN THAILAND WITH REGARD TO SERVICES PROVIDED BY HOSPITALS A CASE STUDY TO UNDERSTAND THE FACTORS THAT PROMOTE AND FACILITATE MEDICAL TOURISM IN THAILAND WITH REGARD TO SERVICES PROVIDED BY HOSPITALS Tejasvi Vasudevan An Independent Study Presented to The Graduate School of Bangkok University In Partial Fulfillment of the Requirements for the Degree Master of Business Administration 2014 2014 Tejasvi Vasudevan All Rights Reserved This Independent Study has been approved by The Graduate School Bangkok University Title: A case study to understand the factors that promote and facilitate medical tourism in Thailand with regards to services provided by hospitals Author: Ms. Tejasvi Vasudevan Independent Study Committees: Advisor Dr. Sriwan Thapanya ………………………………………………………………………… Field Specialist …………………………………………………………………………… (Asst. Prof. Dr. Sivaporn Wangpipatwong) Dean of the Graduate School Tejasvi Vasudevan. Master of Business Administration, May 2014, Graduates School, Bangkok University Title: A case study to understand the factors that promote and facilitate medical tourism in Thailand with regards to services provided by hospitals (72 pages) Advisor of Independent Study: Dr. Sriwan Thapanya ABSTRACT The aim of this study is to understand reasons behind the growing medical tourism industry in Thailand. By studying the......

Words: 21396 - Pages: 86

Drug and Medical Tourism

...Drug Tourism and the impact on the real economy There is two definition made by the WTO to talk about the drug tourism: “Drug tourism can be define as the travel for the purpose of obtaining or using drugs for personal use that are unavailable or illegal in one’s home jurisdiction” or “Drug tourism can be also defined as the phenomenon by which one’s travel experience involves the consumption and usage of drugs that are considered to be illegal or illegitimate in either the visited destination or the tourist’s country of origin” (WTO annual report 1995). Today the only drug that is authorized to consume in some countries is the “marijuana”. But the legal consumption or not is attracting more and more tourist since the past decade, like for the sexual tourism I will take three different areas that are actually the same: Netherlands; southeast Asia and Latin America, and to see how the drug tourism impact the economy of those regions. Netherland is the only European country that has a permissive regulation regarding the drug consumption before the end of 2012; Amsterdam and Maastricht were the two main European destinations for drug tourism. In Amsterdam 50% of the entire tourists visit the “coffee shop” (place where you can smoke marijuana, and 10% of all tourists come to Amsterdam especially for that. In the city of Amsterdam, the Coffee shop tourism represents a business of $2.5 billion US, which led to a $503 million in tax revenues for the city of Amsterdam. In......

Words: 1958 - Pages: 8

Drug and Medical Tourism

...decades have seen a growth in travel and tourism abroad because of cheap air fares and holiday packages. This has been accompanied by a relaxation of border controls, especially within parts of Europe participating in the Schengen Agreement. As some people may be more inclined to use illicit substances during holiday periods and some may even choose to travel to destinations that are associated with drug use — a phenomenon sometimes referred to as ‘drug tourism’ — this means that from a European drug policy perspective the issue of drug use and travel has become more important. This Thematic paper examines travellers and drug use, with a focus on Europeans travelling within Europe, although some other relevant destinations are also included. For the purpose of this publication, a ‘traveller’ is defined as someone who goes abroad for reasons ranging from a weekend visit to a music festival or a short holiday, through to backpacking for longer periods. Using drugs in a foreign country can be associated with additional risks and consequences. For example, while drug use anywhere may lead to adverse health consequences, using drugs abroad can be associated with increased risks due to additional uncertainties regarding the composition and purity of the substances and the lack of knowledge of local health and social services. In addition, under the influence of drugs, tourists may also engage in behaviours that put them at risk of various medical conditions, accidents and risky......

Words: 9119 - Pages: 37

Medical Tourism in Philippines

...MEDICAL TOURISM IN PHILIPPINES SUBMITTED BY – DIVYA YADAV Mba-mt (09-11) INDEX About Philippines…………………………………………………………… 3 Introduction ………………………………………………………….. 3 Geography ……………………………………………………………. 3 Climate………………………………………………………….............4 Population ……………………………………………………………...4 Language ……………………………………………………………….4 Currency………………………………………………………………...4 Religion…………………………………………………………………4 Culture and Society……………………………………………………..4 Tourism in Philippines ……………………………………………………… 5 Tourism statistics……………………………………………………….5 Famous tourist destinations…………………………………………….6 Events…………………………………………………………………..8 Healthcare system in Philippines……………………………………………..9 Medical Tourism …………………………………………………………… 10 Medical Tourism in Philippines …………………………………….. 10 Top Hospitals for Medical Tourism in the Philippines……………… 13 Popular medical tourism procedures available in Philippines………….14 Wellness centres………………………………………………………..17 Cost comparison………………………………………………………...18 Entry and Exit Requirements to the Philippines………………………...18 Statistics of Medical Tourism in the Philippines………………………..19 Inclusions of a Philippines' Medical Tourism Package…………………19 BIBLIOGRAPHY……………………………………………………………..21 ...

Words: 7759 - Pages: 32

Medical Tourism

...American Healthcare Systems-Research Paper-6th Dec 2013 Medical Tourism By: Mrudula Mynampaty and Swathi Damacherla Introduction “Medical tourism” is the term commonly used to describe people traveling outside their home country avail medical services at lower costs1. Medical tourism is fundamentally different from the traditional model of international medical travel where patients generally journey from less developed nations to major medical centers in highly developed countries for medical treatment that is unavailable in their own communities 2. History The concept of medical tourism has been very pervasive all through the history. The first recorded case of medical tourism describes Greek pilgrims who traveled from the Mediterranean Sea to Epidaurus, a small territory in the Sardonic Gulf. It was said that this small territory was the sanctuary of Asclepius, known as the healing god. Since the 1500s India has enjoyed a rich history of providing yoga instruction as well as Ayurveda healing to patients from around the world. In the 18th and 19th centuries, Europeans and Americans flocked to health spas and sanitariums, sometimes in remote places, in the hope that they would obtain relief from their disabling conditions, such as tuberculosis, gout, bronchitis, or liver diseases 3. What led to Medical Tourism today? The market size for medical tourism is USD 24-40 billion, based on approximately eight million cross-border patients worldwide spending an average of USD......

Words: 3356 - Pages: 14

Advancing the Medical Tourism Industry in China

...Topic: Advancing the Medical Tourism industry in China Abstract Medical tourism is a lucrative industry but China is losing out in the competition of this challenging industry. The aim of this study is to analyze why China’s medical tourism industry is not performing as well as countries such as India or Thailand, and also to provide insights on how to go about leveraging on certain medical procedures that China have a comparative advantage in performing. This study resulted in two findings. Firstly, there is a lack of hospitals with JCI accreditation which we found out was due to a lack of motivation from public hospitals to do so, and also a lack of transparency in the management of the Chinese hospitals. Secondly, we found that the three medical procedures with the biggest potential to spearhead the success of medical tourism in China are Heart Bypass Surgery, Hip Replacement Surgery and Traditional Chinese Medicine. Keywords: Medical Tourism China JCI Contents Page Chapter 1 Introduction 1 1.1 What is Medical Tourism 1 1.2 Reasons for the popularity of Medical Tourism 2 1.3 Why do patients seek care at medical tourism destinations? 4 1.3.1 Low Cost 4 1.3.2 Avoid Waiting lists 6 1.3.3 Procedure not available in home country 6 1.3.4 Procedures unavailable or restricted by society and/or legal system 7 1.3.5 Tourism and vacations 7 1.3.6 Privacy and Confidentiality 7 Chapter 2 Global Market overview of Medical Tourism......

Words: 11924 - Pages: 48

Medical Tourism

...Medical Tourism Americans have been travelling to India for doctor procedures for many years now. The practice of traveling outside the country to receive medical care is called medical tourism (Steklof, 2011). Every year the number of Americans traveling overseas has increased tremendously (Steklof, 2011). Due to high rising healthcare costs, and the stress to be able to receive medical care in a timely manner in the United States, are reasons why tourist are traveling abroad (Meghani, 2011). Americans who are uninsured or are not able to afford some of the medical procedures will most likely practice medical tourism. The cost of medical treatments in India are still significantly lower than the cost of medical treatments in the United States. For example, the cost of a knee arthroplasty is approximately $40,000 in the United States. Conversely, the procedure in India would only cost approximately $13,500 including a companion coach and hotel expenses (Meghani, 2011). The high cost of healthcare in the United States is imputable to the high cost of labor; (Varman & Ram, 2007) percent of inpatient hospital costs are labor-related costs (Cortez, 2008). American physicians have a higher compensation rate, a higher cost of living, and must obtain malpractice insurance due to a high risk of eventually fighting a lawsuit (Steklof, 2011). This can explain the 28 to 88 percentage cost savings on medical procedures when preformed in India versus in......

Words: 979 - Pages: 4

International Marketing - Medical Tourism

...MEDICAL TOURISM CASE Saksham Gupta | 39C | Saurabh Kumar | 41C | Deepti Singh Chauhan | 18C | Supriya Deshpande | 49C | Rajat Maloo | 37C | INTRODUCTION Medical tourism represents a worldwide, multibillion-dollar phenomenon that is expected to grow considerably in the next decade. During 21st century, India emerged as a favorable destination for obtaining medical services. This change was a result of overall development in technology, education and services due to which similar skills in medical professionals and services could be obtained in developing countries such as India at comparatively low prices. Internet acted as the biggest facilitator in this change. Not only doctors, but patients also took advantage of free flow of information about diseases and their cure. WTO also contributed significantly to the increase in trade of medical services under following 4 modes:- 1. Medical Travel – People travel abroad to obtain healthcare 2. Cross - border delivery of trade – Shipment of laboratory samples, diagnosis and clinical consultation 3. Setting up of health-care services overseas – Setting up hospitals, clinics and diagnostics center 4. Movement of health-care professional from one country to other – Movement of physicians, specialists overseas The proportion of the elderly population is showing a progressive growth especially in the developed countries and with this trend the demand for healthcare facilities is likely to grow but the......

Words: 2469 - Pages: 10

Medical Tourism

...PROJECT REPORT ON MEDICAL TOURISM WITH REFERENCE TO INDIA Origin and Evolution of Medical Tourism Medical tourism is actually thousands of years old. In ancient Greece, pilgrims and patients came from all over the Mediterranean to the sanctuary of the healing god, Asklepios, at Epidaurus. In Roman Britain, patients took the waters at a shrine at Bath, a practice that continued for 2,000 years. From the 18th century wealthy Europeans travelled to spas from Germany to the Nile. Since the early nineteenth century, when there were no restrictions on travel in Europe, people visited neighboring countries in order to improve their health. At first, mere traveling was considered to be a good therapy for mental and physical well-being. In the 21st century, relatively low-cost jet travel has taken the industry beyond the wealthy and desperate. Later, mostly wealthy people began traveling to tourist destinations like the Swiss lakes, the Alps and special tuberculosis sanatoriums, where professional and often specialized medical care was offered. In this century, however, medical tourism expanded to a much larger scale. Thailand, followed by India, Puerto-Rico, Argentina, Cuba and others quickly became the most popular destinations for medical tourists. Complicated surgeries and dental works, kidney dialysis, organ transplantation and sex changes, topped the list of the most popular procedures. It was estimated that in 2002, six hundred thousand medical tourists came to Bangkok and...

Words: 5696 - Pages: 23

Medical Tourism

...Medical Tourism-A Ray of Hope By R.V.Naveenan,Asst.Prof, T.John Institute of Management and Science Ph:9486129730,Email:naveenan.08mba@gmail.com Abstract Medical tourism is broadly defined as the act of traveling to obtain medical care in another country or region of the same country where specialized or economical medical care is available complemented with wellbeing and recuperation of acceptable quality with the help of support system. The World Health Organization (WHO) defines medical tourism as tourism associated with travel to health spas or resort destinations where the primary purpose is to improve traveler’s physical wellbeing through a process comprising physical exercises and therapy, dietary control, and medical services relevant to health maintenance. India has become a destination of choice for patients from all hemispheres as the destination of choice for a wide range of medical services and surgical procedures. In addition to the tangible expertise of medical and nursing staff, allied health services staff, the intangible compassionate care of support services staff draws patients to tertiary care hospitals in India. Equally important is the lower cost of world class treatment at a fraction of what it costs in the Western or so-called developed countries. In addition, there is no waiting period for any of the major surgical interventional procedures in the corporate hospitals in India. There are several dynamic internal and external factors which hinder......

Words: 5219 - Pages: 21

Medical Tourism

...In the interview to Sity Suhana Elsa Abdul Majid, Senior Executive Medical Tourism & Business Development of Institut Jantung Negara (IJN), basically IJN is private hospital that is under Ministry Finance of Malaysia. Its objective of existence is medical service to patient, training to doctor and research and development in heart. Just last three years IJN setup their international patient office. This is to promote medical tourism and offer many service to help international patient. In order to market IJN as destination, one of the way IJN do is setup a medical office or in other word representative at overseas. IJN target ASEAN countries because increase in population such as in Indonesia, Cambodia and also Myanmar. Besides that, IJN also promote by Malaysia Healthcare Travel Council (MHTC) to international patient to come to IJN. MHTC is organization that responsible to promote Malaysia health tourism. IJN also do own marketing by mouth to mouth marketing by the international doctor that come to IJN do their training. IJN also offer wide range of services not just cardiologic disease surgery but angiogram and dietician. According to her, roughly around 80-70 Indonesian international patient come to IJN monthly and overall about 150-250 international patient come to IJN. She also explains that international patient especially Indonesian come to IJN to do Coronary Angiogram. It is a special x-ray of the heart arteries to see if they are narrowed or block. It’s a basic......

Words: 1138 - Pages: 5