Medical Tourism Essay

1458 Words Mar 7th, 2016 6 Pages
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
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* Over 16 million children live in households struggling with medical bills. * 10 million insured Americans will face bills they are unable to pay. * 1.7 million Americans live in households that will declare bankruptcy. * 25 million adults will not take high cost prescription drugs, to save on cost due to high cost of the drugs. According to a recent report of the Organization for Economic cooperation and development (OECD), the U.S. spends almost 18% of its Gross Domestic Product on healthcare and that is more than any of the other 34 OECD countries. In 2009, the council of economic advisers projected that the healthcare sector will comprise of 34% of the GDP in the U.S. by 2040.
MEDICAL TOURISM AT A GLANCE:
In general, medical tourism is the act of going overseas to obtain medical, cosmetic or dental treatment in another country. Most people are opting to receive medical treatments abroad rather than in their own countries because: * Certain medical services are not available in their country of residence. * Their health insurance does not cover the full cost of a procedure. * Most people are unwilling to compromise their health just because the treatment costs are too high.
REASONS TO GO ABROAD FOR MEDICAL CARE: * The costs of healthcare in developed nations have increased exceedingly. The savings range from 30% to 80% of the cost that they would normally pay in the USA

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