Medical Tourism-Employers Like It!

In 2006 (make that 2005), time flies 😉 I started doing research for a stem cell transplant for myself. My research took me from Portugal to China-and many countries in between. I didn’t call it Medical tourism-because the thought wasn’t exactly a holiday for me! My biggest fear about going overseas for medical procedures were the credentials of the physicians, staff and facilities-aside from the obvious concern-will this work??

Never fear, Fortune small business tells us that Employers make a push for “medical tourism”. The article points out a small business owner trying to cope with the rising costs of health care. His insurance premiums jumped 32% last year-adding 12% to his overhead. He is now encouraging employees to seek treatment overseas-medical tourism. Some of the options include Costa Rica, India and Singapore. He estimates that overseas treatment will cut his medical costs by more that 10% per year and help him avoid another 20 to 30% rise in premiums.

Unfortunately, I feel for both the employer and employees-the thought of having surgery overseas scared the bejesus out of me! but from the employers perspective surgery overseas can cost 30 to 80% less than in the U.S. The article points out that the average charge for a coronary artery bypass is about $75,500 in the U.S., vs. $11,400 (including round trip airfare) at the Fortis Mohali hospiital in India-the cost difference blows me away! Free Money has touched on the Issue of Medical Tourism. I won’t go there today because it has been hashed over quite nicely.

But you know me, all you entrepreneurs out there who are looking for cash flow ideas-medical tourism is not a fad and some serious money will be made. Business 2.0 Magazine estimates that upwards of 500,000 Americans went overseas to receive medical procedures. Adult Americans who are either uninsured or considered “under-insured” number more than 61 million-and rising! In come the entrepreneurs who set up a medical tourism agency. There are no licensing requirements all you need is Internet services and online advertising. It’s not that easy because anything worth while takes work and pride but this opportunity for small business owners will continue to grow.

Steve Mertz
The Medical Tourism Revolution is On!

One Response to “Medical Tourism-Employers Like It!”

  1. Steve Mertz says:

    Whether or not the surgery is minimally invasive or not is beside the point. It comes down to cost and quality of those performing the procedures.

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