Medical tourism - Quality treatment with affordable cost

Medical tourism - Quality treatment with affordable cost

It’s a known fact that quality medical treatment will come with high price. So now let’s talk again in fact and figures and discuss the best and the most cost effective countries for Medical Tourism.

Medical care in few Asian countries cost just one-tenth of the costs in U.S.A. As I mentioned in my last blog nearly 50,000 Americans traveled abroad for medical care in 2006. Surgical care and dental treatment top the list of health care needs of people from America and U.K. Several of the hospitals in these countries boast state-of-the-art facilities, skilled medical professionals and medical care on par with western countries. Insurance companies in the U.S.A. have started to recognize this form of medical care in another country as a viable alternative to high-cost medical care in the U.S. The Economic Times has a report that suggests that western insurance companies are considering covering medical tourism, as well. If one tenth of Americans travel abroad for treatment, the insurance companies could save around $1.4 billion. The report recommends that companies should consider offering SOP’s like lowered premiums or added services to boost medical tourism as it improves their bottom-line, eventually. This would again be a great impetus for medical tourism in countries like India.

India offers world-class healthcare that costs substantially less than those in developed countries, using the same technology delivered by competent Specialists attaining similar success rates.

If a liver transplant costs in the range of 137,867 USD - 160,845 USD in Europe and double that in the US, a few Indian hospitals have the wherewithal to do it in around 34,466 USD - 45,955 USD. Similarly, if a heart surgery in the US costs about Rs 45,955 USD, a leading Indian hospital will do it in roughly 4,595 USD. Also a knee replacement in US will cost you more than $50,000 whereas in India its approximately $20,000.

India is a perfect destination for medical tourism that combines health treatment with visit to some of the most alluring and awe-inspiring places of the world. A growing number of tourists are flocking in large numbers because of the superlative and cost effective medical care, equipments and facilities that India offers. India now hosts and treats an estimated of 50,000 medical tourists a year and the catalytic CII-McKinsey report of 2002 projected that medical tourism could contribute up to Rs 10,000 crores in revenue by the year 2012 and 20,000 crores by 2018.

India is a perfect destination for medical tourism that combines health treatment with visit to some of the most alluring and awe-inspiring places of the world. A growing number of tourists are flocking in large numbers because of the superlative and cost effective medical care, equipments and facilities that India offers.

India is a good location to receive medical treatments and considered a leader in promoting medical tourism. At an approximate growth of 30% each year, studies conducted by government and private sectors in India estimate that medical tourism could bring between 3-4 billion US $ into India by 2015.

Figure I: Number of Medical Tourist Arrivals & Future Forecast in India (Source: North India Management Association Report, 2013)

Number of people having visited India for as medical tourists:
India now hosts and treats an estimated of 50,000 medical tourists a year and the catalytic CII-McKinsey report of 2002 projected that medical tourism could contribute up to Rs 10,000 crores in revenue by the year 2012 and 20,000 crores by 2018.