May 31, 2006
Medical outsourcing catches on
Just days after the story of an American couple traveling to India for surgery hit the news, there is another case of an individual traveling from the U.S. to the Bumrungrad Hospital in Bangkok for a herniated disk repair in his neck.
This trend is on the rise not only because of the substantial savings in medical costs as compared to a similar surgery in the U.S., but also because the quality of service in countries like India, Thailand, Singapore, and Malaysia is as good as anywhere in the world. No wonder, individuals--and even some corporates-- are making a beeline for outsourcing medical requirements. Bumrungrad Hospital alone has seen a quantum jump in the number of American patients to 55,000, a 30 percent rise. Indian medical facilities are also witnessing a similar jump in "medical tourism.”
The net effect is one of globalization of the U.S. hospitals, leading to competition and, one hopes, to better service. For companies in the U.S. that offer medical insurance to employees, the trend to move outside the U.S. for treatment is acting as a catalyst. Such companies are offering added incentives to employees who are willing to travel to Asian countries for their medical needs.
Once the stigma of India being a "developing country" is removed in the American mind, the number of people coming in to places like New Delhi will surely see a further leap. As Time magazine reports:
...As the medical-cost crisis deepens, the corporations who pay insurers are likely to find the lure of outsourcing as irresistible in health care as it is in software.
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You're welcome to visit MedRetreat, a U.S. owned and operated medical tourism service agency, at www.medretreat.com for a more thorough education about medical tourism. MedRetreat was developed to help protect the American consumer when traveling abroad to receive medical procedures.
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