The Surging Popularity of Medial Tourism in India
According to Forbes magazine, medical tourism will be a $40 billion industry by 2010. This is a promising illustration of how people concerned with rising health care cost are able to manage their health care crisis. The soaring medical cost in America are forcing Americans to travel abroad for elective and/or major surgeries. The abroad physicians and hospitals are willing to conduct procedures at 10% to 30% of the cost in America. Its estimate that 750,000 Americans traveled abroad for medical care in 2007.
Medical Cost in U.S. versus Other Countries:
- Bone Marrow transplant $ 400,000 versus $30,000*
- Liver Transplant $500,000 versus $40,000*
- Heart-valve Replacement $200,000 versus $10,000*
- Open Heart Surgery $50,000 versus $44,400*
- Neurosurgery $29,000 versus $8,000*
- Knee Surgery $16,000 versus $4,500*
- Metal Dental Bridge $5,500 versus $500*
- Full Face Lift $20,000 versus $ 1,250*
*South Africa, India, and Thailand.
There are an array of medical tourism companies that assist travels find the hospital, clinics, or medical facilities that find the desired procedure. These hospitals are accredited under the international arms of JCAHO, which also regulates U.S. hospitals. Medical tourism presents important concerns and challenges as well as potential opportunities. This trend will have a significant impact on the health care landscape in industrialized and developing countries around the world.
India has been known for their rejuvenating treatments such as yoga and ayurvedic massage, but the quality of their heart by-pass surgery has draw the attention of many throughout the world. According to economist, for the cost of a face lift in the U.S., one can due the following
- Passport U.S. $ 130
- Indian Visiting Visa $ 150
- Flight to India $1,500
- Hotel (6-10 day) $1,000
- Accommodations $1,000
- Face Lift $1,250
Total $ 5,010
Savings $14,990 (approximately)
The most significant aspect of undergoing treatment in India is the low cost compared to either the U.S.A. or Britain. There is a great deal of money that’s saved with medical tourism such as 60% over the normal cost. The treatments includes the procedure, treatment, transportation, and hospital stay as illustrated above. It appears that India found a significant niche in improving its economy, visitors, and technological health integrations with medical tourism.