Medical Tourism by Deloitte

Medical Tourism by  Deloitte:

Medical Tourism: Emerging Phenomenon in Health Care Industry – 2008 Report from Deloitte Global Services עבודה מצויינת של חברת דלויטש המשמשת בסיס  כלכלי של כל ההחלטות בתחום תיירות המרפא

Many patients are traveling great distances to obtain quality care at lower cost

Medical tourism – the process of “leaving home” for treatments and care abroad or elsewhere domestically – is an emerging phenomenon in the health care industry.
The Deloitte 2008 Survey of Health Care Consumers, a nationally representative, online survey of more than 3,000 Americans, found that outbound medical tourism is expected to experience explosive growth over the next three to five years. (Medical Tourism by  Deloitte)Consider the following:
• Health care costs are increasing at eight percent per year – well above the Consumer Price Index (CPI), thus eating into corporate profits and household disposable income.
• The safety and quality of care available in many offshore settings is no longer an issue: Organizations including the Joint Commission International (JCI) and others are accrediting these facilities.
• Consumers are willing to travel to obtain care that is both safe and less costly. In fact, two in five survey respondents said they would be interested in pursuing treatment abroad if quality was comparable and the savings were 50 percent or more.
By contrast, inbound medical tourism and medical tourism across state lines will continue to be an interesting opportunity for specialty hubs with treatments unavailable elsewhere in the world or in a community setting.
This report by the Deloitte Center for Health Solutions, part of Deloitte LLP, examines the growth of medical tourism: the hot spots for outbound and inbound programs, and factors important to the attractiveness of both.
Medical Tourism: Consumers in Search of Value is Deloitte’s latest report about innovations that might be  considered disruptive to some in the U.S. health care system. Recent reports spotlighting retail clinics, the medical home payment model and other innovations point to a common theme – CHANGE.
The value proposition in a consumer transaction usually involves consideration about price, quality and service. Distinct segments of the market value the three differently based on their needs and wants. In health care, price hasn’t been a factor to many since consumer out-of-pocket expenditures are only 19 percent of the total.
However, that percentage is increasing and price sensitivity is soaring, especially for those with high-deductible insurance programs. The growth of medical tourism might be a signal as to how consumers calculate their value proposition weighing all three – price, quality and service. Time will tell Medical tourism involves patients intentionally going abroad to pursue medical services outside of formal cross-border care arrangements that are typically paid for out-of-pocket.
Orthopedic, dental, cosmetic, transplant, and other surgeries are offered by hospitals around the world looking to attract international patients, with such procedures often available for purchase as part of “package deals” that include recovery stays at affiliated tourist resorts or hotels.