Medical Tourism: Its Emergence, Growth and Potential

Medical Tourism: Its Emergence, Growth and Potential

Healthcare expenses have always been a major cause of concern for the general public. No matter how consciously a person builds up his savings from the earnings, it takes one major bout of illness to drain out a large portion of the accumulated savings. Health disorders are unforeseen and thus many people opt to cover such sudden medical expenses with some medical insurance. However, a health insurance policy sometimes falls a way short in covering up the costs involved in some medical procedures. Even if a person has a health insurance, it still takes a considerable amount of time for the medical procedure to get started. The waiting period for a hip replacement could be more than a year in countries like Britain and Canada. Under such adverse scenario, the general public had to look for other alternatives outside their countries. If they are looking for a cost effective alternative for similar medical procedure, then medical tourism definitely is the way to go for.

Medical tourism is a service extended to the people all over the world to travel to other countries that provide similar medical treatments at comparatively lower costs than their own country. The health care providers of such countries have tie ups with various travel agencies. People desirous of seeking such treatments need to contact either the medical centers of such countries or the travel agencies who work in conjunction with some medical centers to provide healthcare tourism services. Among the various healthcare tourism destinations, India, Singapore and Thailand have emerged as most the popular ones.

If estimates are to be believed at, the medical tourism industry will be worth US billion by 2012. Since the emergence of this industry, people from most of the developed nations have continually flocked to the medical tourism destinations to avail quicker as well as good medical treatments at low cost. A heart-valve replacement that costs around 0,000 in US can be done for a mere ,000 in a country like India inclusive of the air fare and even a brief vacation package. A knee-replacement procedure costs a lot less in Thailand as compared to that of the United States. Most medical procedures cost around one-tenth of what it costs in countries like United States and Britain. Affordable and prompt medical care has made healthcare tourism a major draw among patients from all over the world.

The immense potential of the medical tourism industry has resulted in more healthcare investments in such countries offering the service. The Indian government is leaving no stones unturned to make it a global healthcare destination. The concerned authorities in Singapore has organized conferences and gained accreditations to attract more medical tourists. Similarly the other countries venturing into medical tourism are also taking necessary steps to popularize themselves. In the next few years medical tourism industry will continue to grow bigger and serve people all over the world with cost effective and superior medical treatments.