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Welcome to my Global Healthcare Blog. In this space, I will chronicle my travels and Medical Tourism projects as they unfold. This is an exciting time in the healthcare industry. There are new domains to establish, great opportunities to improve and document quality, options to access excellent quality care and save money.
Some U.S. businesses and insurance companies are outsourcing health services to the developing world as a way to reduce health spending. In past years, it is reported, but in no way verified, that about 500,000 U.S. residents traveled to countries like India, Singapore and Thailand for medical treatment. The overseas hospitals, typically known for offering low-cost plastic surgery, demonstrate excellent reputations in heart, knee, transplant and back operations. Further fueling the trend, traditional managed care helath plans are now investigating adding some of these credentialed and accredited physicians and hospitals to their empaneled networks. offering members of the plan the option of traveling abroad for their procedures, which could reduce health spending by up to millions annually. Member employees who choose to be treated abroad would be given incentives such as extra sick leave, opportunities to keep 20% of the money the plan or employer saves, waiver of copays and deductibles in some cases, and full coverage for a travel companion so that they will not be alone so far from home.
According to the media critics of the trend say that U.S. patients face language and cultural barriers and other issues associated with traveling. What the media doesn't know is that English is widely spoken in facilities that regularly engage in golbal care, as do the physicians. The technology in many locations far exceeds what local rural hospitals in the US can afford in capital expenditures, and the prices are about 20-30% of typical US billed charges. In fairness, few US citizens are required to pay 100% of billed charges for their care, regardless of if they have insurance or not. Threfore, to compare the cost savings to full billed charges from a hospital is as inaccurate as is the assumption that the care would be lower in quality.
In addition, medical malpractice claims are rare in countries like Thailand and India, the where they already have undergone the tort reform that is highly encouraged here in the US. There is malpractice liability in most countries for economic damages, but not for pain and suffering. Most professional liability claims are handled through binding arbitration in the land in which the claim arose, and in that country's official language.
When we access care in other countries, we help the local people as we add to their economy, provide economic support for new infrastructure, jobs, educational opportunities and potentially bring opportunities to train physicians who will provide care to the local people with new technology, techniques and facilities.
Join me as I explore the world of healthcare in the global space.
