- A team of top American physicians specialized in minimally-invasive surgery
- Wide range of minimally-invasive procedures
- A close proximity of the Domodedovo International Airport
- World class patient care
- Certification by Joint Commission International (USA)
- Affordable cost of care
Medical Tourism Overview
Medical Tourism is one of the fastest growing healthcare industries. The world Medical Tourism Market is estimated at $120 bln. The main market players are Thailand, India, Israel, Mexico, Czech Republic and most recently Turkey. The most common areas of health problems patients are looking to resolve abroad are as follows:Medical tourism agencies are used as intermediaries to plan a comprehensive trip. The agent shall find the appropriate medical provider for the patient’s circumstances. Sometimes it is within the scope of agent’s tasks to make arrangements for air travel, resort stay for recovery time. Sometimes the agents can help the client with such details such as cell phone rental, concierge service, and transfer. Some agencies specialize in sending patients to a particular country, while others offer a wide range of countries.
Medical Tourism in Western Europe and Canada.
In countries with socialized medicine, where medical service is free such as Canada and the United Kingdom, waiting lists for non-emergency procedures are very often. The long waiting periods for surgeries like hip and knee replacement in the U.K. is a scenario the overseas hospitals are regarding as main reason to seek medical care abroad.The situation is not better as far as the European counties are concerned. Most of the European countries have a lack of beds. Therefore, they are not able to meet patients’ requirements as a result they have to wait for several months to get their surgery done.
Medical Tourism in the US.
As Common destinations for American patients include Argentina, Costa Rica, India, Thailand, and several European countries. The industry includes large general hospitals as well as specialists in areas such as dentistry, vision, fertility, hair restoration, cosmetic surgery – even gender reassignment. The majority of patients initially seek medical services overseas because of the costs savings, which can total as much as 80% off U.S. prices. The American medical tourists spent about $6bln annually.Given a shortage of nurses in the U.S. and pressure from insurance companies to shorten U.S. hospital stays, overseas hospitals can offer a much more comfortable experience than the typical U.S. hospital. Many medical tourism agencies can add value to overseas health care by looking after details to ensure a smooth experience.
The uninsured and underinsured Americans. Over 45 million Americans are uninsured. It means that the U.S. market represents a large opportunity for the medical tourism industry. Facing with the need for surgery which they cannot afford at home, the uninsured and underinsured — people with limited coverage or high deductibles —try to find treatment abroad. Since U.S. health care and health insurance costs rise very fast, this trend is very likely to increase.
Medical tourism has taken off in the last few years, with American employer-sponsored health insurance premiums skyrocketing 87 percent over the last six years. The Kaiser Family Foundation estimates that American family health coverage currently costs about $11,500 a year, with workers spending nearly $3,000 out of their own pockets annually.
People who have become victims of recession that has axed their jobs have discovered medical services abroad an attractive alternative because they are no longer covered by insurance in the US. After the global financial crisis, the US citizens have begun to show great interest in travelling overseas for healthcare. For example a complete teeth treatment in the US costs $100,000 while in Turkey it is merely $30,000.
JCI Certification
One of the problems of the medical tourism industry is the lack of the control of the medical service quality. Joint Commission International (JCI) accreditation helps solve this problem. Based in the Chicago suburb of Oak Brook, JCI has accredited over 100 hospitals in 23 countries including Bumrungrad in Thailand, five in India and 11 in Singapore.World Medical Tourism & Global Health Congress
TAURED S.A. will take part in the 2nd World Medical Tourism & Global Health Congress in Los Angeles, California, USA on October 26-28, 2009The task of TAURED S.A. at the Congress to showcase its current Medical University Medical Center Project. For us the congress is not only the place to advertise our current project and acquire customers but it is also an excellent forum to discuss and critique our marketing plans and to get new and fresh ideas in the fast growing medical tourism industry.
Last year’s 1st annual congress featured over 850 attendees from over 45 countries and over 53 exhibitors and sponsors. Out of the 850 attendees, there were over 100 insurance companies and insurance providers, over 400 hospitals, clinics, and governments, and over 100 facilitators. The 2nd Annual World Medical Tourism & Global Health Congress will feature up to 2,000 attendees from over 50 countries and up to 100 exhibitors and sponsors. At this year’s Congress we have also invited “buyers” of healthcare from countries such as Russia, China, Japan, and Africa. Many of these countries are emerging markets as more patients travel to and from these countries for medical care.
This is the one event per year where Employers, Self Funded Health Plans, Insurance Companies, and Medical Tourism Facilitators that are looking to outsource healthcare overseas have the opportunity to meet with top International Hospitals and Medical Tourism Companies in one place for the ultimate networking event. World Medical Tourism & Global Health Congress will prearrange networking meetings to assist in the development of new relationships and valuable new contracts. While last year’s Congress featured over 3,000 one-on-one private networking sessions, the 2nd Annual Congress is anticipated to have at least 3,000 one-on-one private networking meetings.
The project TAURED S.A. will exhibit at the congress is in the initial stage but the American part of the Project team had already started studying the US market and finding pathways for customer acquisition in America.
Conclusion
Entering medical tourism market is a unique and timely opportunity for University Medical Center. The state of World’s economy, a growing need for affordable quality healthcare from payers and insurers strives us for proceeding with University Medical Center Project.List of works cited:
Medical Tourism InsightNatural News
