According to the HR Magazine, published by the Society for Human Resource Management, medical tourism could become an option in employer sponsored health plans. The article can only be accessed through subscription but the NY Times reports, that clearly the price of medical tourism appeals to employers who are faced with rising health care costs and operating costs.
According to examples cited in the article “Going the Distance for Health Savings,” the cost of sending a worker overseas for procedures like removing a gallbladder can be at least 50 percent less than that of having the work done in the United States, even if the employer pays for the worker to spend recovery time in a fine hotel.
Questions on quality of healthcare persist but to encourage employees to seek treatment abroad, companies are also willing to give them a percentage of what the savings.
Posted in Asia, India, Thailand, Malaysia, Cost of treatment, Insurance, Singapore, USA, Medical Tourism March 26th, 2007 by gaurav | 2 comments
Useful article on how Singapore has built its reputation as the top destination for medical tourism.
Singapore Medicine, Singapore Tourism Board-Healthcare Services director Dr. Jason Yap, attests, “International patients come to Singapore for many reasons like heart and brain surgery, health screening and sometimes cancer treatment.” Why? “Because we assure them of world-class health-care system that focuses on safety and excellence,” Yap explains.
Posted in Asia, Europe, Financial Forecasts, Traffic Forecasts, Cost of treatment, Insurance, Singapore, USA, Medical Tourism March 24th, 2007 by gaurav | 1 comment
According to the World Economic Forum’s recently released rankings on the travel and tourism industry of 124 nations, India has the most competitive travel and tourism industry among developing countries. Read here and here.
While evaluating the countries, the rankings considered transportation infrastructure, health and safety, pricing, the environment and culture and the countries’ regulatory frameworks among 52 variables.
India’s ranking was built on its competitive pricing, with low ticket taxes and airport charges as well as low prices in the economy, although the country
fares poorly in the marketing and branding aspects. Hello??! Is anyone listening!
The US ranked 99 out of 124 countries for price competiveness and the perception of US citizens towards foreign visitors ranked low at 112th place. In overall rankings, Singapore is at 8, Thailand at 43 and India at 65.
Food for thought.
Posted in Asia, India, Thailand, Singapore, USA, Medical Tourism March 2nd, 2007 by gaurav | 1 comment
At the recently concluded Arab Health expo, medical clinics from Singapore made a strong pitch to Arab patients by unveiling a new treatment for cancer. Singapore is very popular with Arabs seeking medicare abroad and the city state received about 200 Arab patients in 2006, a 20 percent increase over 2005. In 2005, a total of 374,000 foreign patients came to Singapore, a 15 percent jump over 2004.
Singapore has build its reputation as a top healthcare destination by specializing in cutting edge technology and being at the forefront of scientific research and expert treatments in oncology, haematology, cardiology, and ophthalmology. The World Health Organization (WHO) rates Singapore’s health system the best in Asia and well ahead of Japan and the US.
Posted in Asia, Traffic Forecasts, Singapore, USA, Medical Tourism February 6th, 2007 by gaurav | No comments
Good blog by an intrepid German, now residing in Bali, on medical tourism to Asia and the slow decline of medicare in Europe.
…over the years of the last 2 decades - Europe lost its edge as a leading and competitive healthcare market. Too many beneficiaries but too few paying customers. Always make an even balance for everyone. Where is the grounds or basis for competition, or the means of offering the best possible solution for a competitive price? Value for money anyone? Somehow it got lost along the way.
The US have problems as well, although quite a bit different. The healthcare system is state of the art; the main problem is, most people can’t afford it and lot’s don’t even have a health insurance.
The writer also writes about his own experiences with medicare in Asia - Singapore and Thailand. Also watchout for the cost comparison for medical procedures in the US and India. Very useful.
Posted in Asia, India, Thailand, Europe, Cost of treatment, Insurance, Singapore, USA, Medical Tourism February 4th, 2007 by gaurav | No comments
First the candy. According to a latest industry report, India’s medical tourism industry has been growing at the rate of 30 percent compounded. Some 150,000 patients from the West, African and South Asian countries visited India for medical treatment in 2006.
Now the kick. Singapore, Malaysia and Thailand, India’s competitors for the crown of top medical destination, combined attract ten times the medical tourist traffic that comes to India.
The cost of treatment in India is about a tenth and a fifth of those available in the UK and US. The country also has an edge in terms of very low waiting periods and an army of Western trained highly qualified medical professionals. However, South East Asian countries continue to score over India due to tourist-friendly infrastructure and a glitzier image which has been cultivated and sustained over a period of time.
It’s time for India to get a move on.
Posted in India, Thailand, UK, Traffic Forecasts, Malaysia, Cost of treatment, Singapore, USA, Medical Tourism December 29th, 2006 by gaurav | No comments
An average of 200 people seeking medical care from the Middle East visited Singapore each month in 2006, an increase of 20 percent over last year.
Singapore competes with Thailand and India in medical tourism but has become the pioneer in cutting edge medical treatment such as stem cell transplants, live donor liver transplants and advanced robotic surgery. Undoubtedly, Singapore’s top notch infrastructre, glitz and status as an economic and travel hub in the region attracts many people.
Posted in Traffic Forecasts, Singapore, Medical Tourism December 8th, 2006 by gaurav | No comments
India’s efforts at promoting tourism and medical tourism are being hampered by the paucity of hotel rooms and speciality hospitals. The Government’s Tourism Minister has said that the country is facing a shortage of 150,000 hotel rooms and good hospitals to cater to the high-end foreigners.
Low cost medical care at the hands of Western trained medical professionals has made India into a top medical tourism destination. However, the lack of infrastructure continues to be a serious problem and an area where competing nations like Singapore and Thailand easily score over India.
Posted in India, Thailand, Cost of treatment, Singapore, Medical Tourism December 4th, 2006 by gaurav | No comments
Some prominent Indian hospitals are eyeing alliances with foreign airline carriers to reach out to prospective markets. This represents a win-win opportunity for airlines as well who are eager to tap into the Indian market.
The airline-hospital alliance entails special packages for patients, in-flight promotion, complementary health check-up at hospitals for passengers as well as assured seats for the patient. It also gives partners a chance for joint brand-building activities including viral marketing strategies.
Emirates Airlines has already tied up with a few hospitals in Hyderabad and Bangalore while Singapore Airlines and British Airways are exploring their options.
Posted in Asia, India, UK, Singapore, Medical Tourism December 1st, 2006 by gaurav | 2 comments