Medical Tourism
Friday, July 18, 2008Can Ignorant Consumers Still Buy Health Care?By John LaPlanteCategories: Medical TourismIs health care so complex that it must be entrusted to experts, such as people in government agencies? The blotter behind Healthcare Manumission says no: "There is indeed an asymmetry of information in medical care. That much is indisputable. There is also an asymmetry of information in law, auto repair, computer technology, and countless other realms where we yield to the wisdom of those we consider experts." And yet we don't expect government to organize an "automobile maintenance organization." Nope, consumers figure their way around in markets all the time--and health care is not excluded.
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Friday, July 11, 2008The Downside of Medical Tourism--and Some RemediesBy Grace-Marie TurnerCategories: Medical TourismThe Washington Post reports on the potential disadvantages of medical tourism. When things go badly after an overseas operation, a patient may be left facing a host of challenges: lack of access to follow-up care at home; doctors who won't get involved in corrective procedures; extra money that must be spent to undo what has been done; and a complicated legal picture if they want to try to recoup costs. "Aftercare is one of the most important issues and problems in medical tourism," said Jonathan Edelheit, president of the Medical Tourism Association. Edelheit said that his organization is trying to educate U.S. doctors so that they will not discriminate against patients who are coming home from surgeries abroad and may be in need of care.. The trade group is also trying to raise standards and increase transparency in the now wide-open and unregulated field.
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Tuesday, June 24, 2008AMA Offers Tips on Medical TourismBy Grace-Marie TurnerCategories: Medical TourismThe American Medical Association, in its annual meeting held in Chicago last week, issued its first-ever guidance for patients considering traveling abroad for medical care. The fledgling medical tourism industry is gaining interest and attention as hospitals around the world -- in India, Thailand, Guatemala, and elsewhere -- are, as a recent BusinessWeek article made clear, marketing their new facilities and services. An estimated 150,000 Americans are expected to receive care overseas this year. The AMA acknowledges that people with limited resources and even companies searching for lower-cost medical care for their employees are turning to medical tourism. But the AMA lists nine principles to guide consumers venturing into medical tourism, including making sure the decision to seek care outside the U.S. is voluntary, that facilities are accredited, patients are well-informed about risks, and that there are provisions for follow-up care.
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Friday, May 16, 2008Saving on Surgery by Going AbroadBy Grace-Marie TurnerCategories: Medical TourismMedical tourism can produce significant discounts on care, writes U.S. News & World Report as part of its "Consumer's Guide to Medical Travel." Thousands of Americans — estimates range from 5,000 to 500,000 annually, if minor procedures are counted — leave the U.S. for surgery, especially if they are paying for the procedure themselves. For example, Brad Barnum, a 53-year old building contractor, had knee and hip replacement surgery in India for $23,000. Even after adding about $5,000 for airfare, passport, visa, and incidentals, the total was nearly 80% less than the $125,000 or more he expected it to cost in a U.S. hospital, reports the magazine. Medical travel has captured the world’s attention and imagination, but a new McKinsey study suggests that the market isn’t as large as reported and that most medical travelers seek high quality and faster service instead of lower costs.
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Sunday, March 9, 2008Outsourcing Health CareBy Paul GessingCategories: Medical TourismFree trade is great. And, while the principle of comparative advantage makes it logical for nations to specialize in those industries that are most competitive, this has not been the case for health care until very recently. Now, according to recent news reports, Singapore is looking to become the low cost provider for health care services. I'm all for this, and as long as people are able to travel in order to attain better, more cost effective care, governments can only get so draconian in their policies. I wonder though if the US couldn't compete with Singapore as a provider for low-cost care if it weren't for onerous government regulations. Unfortunately, it looks like Singapore's "comparative advantage" is simply having politicians that understand how markets work and have not overregulated the industry to the point where basic health care is unaffordable.
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