Tag Archives: global medical tourism

Global Healthcare Is Not Just About The Cost

3 Million people spent $76B on care away from home in 2010.
A recent Frost and Sullivan research report on the medical travel business predicts that medical tourism will come a $100 B business by the end of 2012 and that hot spots to watch will be: the Middle East, Asia and Germany.
While most believe that cost is the main driver this is not true across the board. A McKinsey and Company 2008 report emphasizes that 40 per cent of medical travelers seek advanced technology, 32 per cent seek better healthcare, 15 per cent seek faster medical services and only 9 percent of travelers seek lower costs as their primary consideration. Click to view the full report.

As reimbursements for Medicaid and Medicare continue to decrease and increasing numbers of US doctors indicate they will cut back seeing patients insured by these government insurance plans, or stop seeing them altogether. This will fuel access, rather than cost, to the forefront of medical travel.
Inbound tourism is the flip side of the same coin – as US healthcare continues to get more expensive and more difficult to access, hospitals are looking for ways to fill the beds. Foreign patients are attractive market and also pay in cash.
As I””ve pointed out before, these market eruptions present entrepreneurs with big opportunities. Healthcare reform might change the rules, but I don””t think significantly, given the big picture patient demographic and manpower supply and demand challenges.
Global referral communications, coordination and care is a growth industry begging for talent and $100B is likely to get a lot of attention. It certainly got mine.

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Asian Medical Tourism Sector Sees Growth in Spite of Recession

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According to the recent RNCOS report, Asian Medical Tourism Analysis (2008-2012), the Asian medical tourism sector has increased the number of visitors and revenues on an annual basis for the past few years. Fueling the demand is the cost effectiveness, well-skilled medical professional and tourism. India is a key destination and received 650,000 medical tourist and generated US $1160 Million in revenues in 2009. Other countries in the region , including Thailand, Malaysia, South Korea, the Philippines, and Singapore are also experiencing growth. This report projects that medial tourism numbers in Asia will increase by CAGR of around 16% during 2010-2012.

MedVoy already has partners in these countries and is also traveling to South Korea next month to visit hospitals. As always, we will keep you informed of what we learn in order to help you get the best access to global healthcare.

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Designing a Perfect Smile in Costa Rica

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The world looks brighter behind a smile, yet for many people smiling can be a challenge. Medical tourism has made restorative and cosmetic dentistry more accessible and affordable for everyone. Housed in clean and modern facilities, next to partner CIMA Hospital, Dental Cosmetics Costa Rica specializes in cosmetic dentistry to help patients attain the bright, radiant teeth that transform their smiles and helps them regain their self-confidence.

Founders Dr. Alejandro Lasso and Dr. Andres Fernandez Rodriguez are highly experienced and board certified – including certification by the American Association of Cosmetic Dentistry. Additionally, Dr. Rodriguez is recognized as one of the preeminent maxillofacial surgeons in the country and is a member of several international boards, including the International Asociación of Oral and Maxillofacial Surgeons, American Academy of Implant Dentistry, American Association of Cosmetic Surgery and American Association of Oral and Maxillofacial Surgeons.

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Dental Cosmetics Costa Rica Doctors

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Former VP of Anthem Blue Cross Blue Shield Joins MedVoy

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MedVoy announced today that they have added Lew Emanuelson to its advisory board to support and develop strategies for the employer benefit marketplace. MedVoy will now have an additional 32 years of specialized insurance experience in underwriting, sales and consulting for group health insurance plans and insurance brokerages in order to provide invaluable insight into the increasingly complex insurance vertical. It will enable MedVoy’s partners to draw from a new pipeline of patients to increase revenue streams, while also fulfilling MedVoy’s mission of connecting patients to domestic and international healthcare providers that administer the highest quality of care and accessibility at an affordable cost.

Read the full press release

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Mommy Makeovers at MedVoy

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You may be wondering… what exactly is a “mommy makeover”?

Pregnancy takes a toll of a woman’s figure and a mommy makeover is designed to help restore the pre-baby body. Women gain an average of 25 to 35 pounds during pregnancy and unfortunately, there are changes to the body, such as stretching of the stomach and fatty tissues stored in the hips and abdomen which is difficult, if not impossible, to lose through diet and exercise alone. A mommy makeover combines a variety of cosmetic surgery, such as tummy tuck, butt lift, breast lift/augmentation, liposuction, cellulite removal and other treatments. As every woman is different, these are customized to each woman’s needs.

Medical Tourism helps to provide high quality services at an affordable prices, keeping the savings for more important things (like sending your little one off to college). Contact us for a complimentary quote.

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Five things will need to happen before medical travel gets real

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Despite the research reports, eco-devo white papers, industry analyses and industry marketing hype, medical travel/medical tourism is still an early stage industry looking for the right formula for success.

In my view, five things will need to happen before medical tourism and global healthcare referrals get real traction: 1) the creation of a sustainable business model, 2)global healthcare IT connectivity and integration, 3) a physician generated global healthcare referral network, 4) a global regulatory, legal and socioeconomic ecosystem, and 5) patient awareness and acceptance.

The creation of a sustainable business model
Industry players including payors, providers, partners and facilitators are still looking for the the most successful way to make a profit and scale the business. With an eye towards what happened when Expedia disrupted the travel agency business, participants understand that margins for travel arrangement services are thin and that there is high price elasticity for global medical care. Few have found the magic key that fits the lock that opens the doors to profits. Payors and employers are hesitant to accept the value proposition without a better way to reduce their risk and demonstrate tangible, meaningful cost savings to their insureds and employees.

Global healthcare IT connectivity and integration

The US national healthcare information architecture is evolving. Eventually, the network will be a portal to the world and will allow for seemless, secure, confidential transfer of personal health information thus assuring some continuity of care and quality improvement. Similarly, it will take a while for health information systems to evolve in host countries that can talk to non-host systems. Short term solutions, like personal health records or mobile health applications, might fill the void temporarily.

A physician generated global healthcare referral network

Most medical tourism models connect patients to healthcare facilities, bypassing doctors in the initial stages. Doctors will get in the game when the model feels better, and they have the resources and ability to make referrals to consultants directly, like they do now. Since MedVoy was founded by an American doctor, MedVoy connects patients directly to doctors which is unlike other facilitators. Given the rise of international members, professional medical societies should be more proactive in building global referral networks, rather than seeing them as threats to existing domestic members.

A global regulatory, legal and socioeconomic ecosystem

The barriers to adoption and penetration of medical travel are many and include liability, reimbursement, quality assurance and impediments to continuity of care. As healthcare goes global, so will the rules and regulations that facilitate or obstruct its use. How about a World Trade Organization Treaty on Medical Travel?

Patient awareness and acceptance

According to the most recent polls, 50% of consumers understand the meaning of the term “medical tourism”, leaving home for care. Social network buzz and media stories find the medical travel story sexy, particularly given all the noise about escalating healthcare costs and consumers, employers and payors are hungry for more information. Moving patients from awareness to intention to decision to action, however, will take more time and use innovative marketing approaches directed towards granular market segments.

Global medical travel is projected to be a $1B industry by 2012. While the bones are in place, it will take more time to add the flesh. Until then, to quote Karl Mauldin, people won’t leave home without it.

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Three Things to Know about your Doctor

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A recent Deloitte report on medical tourism predicted that outbound medical travel from the US could reach upwards of 1.6 million patients by 2012, with sustainable annual growth of 35 percent. If you are one of the many potential patients seeking high quality, affordable care outside of the US, you should know three things about your provider before boarding the plane: who they are, how and where they practice, and what are their results and outcomes.
The first question, who they are, probes the provider’s education, qualifications, experience and reputation. Most of this information is usually accessible on the doctor’s website and can be verified on accreditation organization websites or professional association resources. Check to see whether the practitioner is board certified by a reputable US or foreign specialty board and if they are a member of the national specialty society or association.

Secondly, ask how and where they practice. For example, plastic surgeons and dentists are likely to practice and operate in private clinics or ambulatory surgery facilities removed from a hospital setting. Some may even own the clinic and they should divulge that information to you. If something goes wrong during a procedure, make sure you understand how and where you would get emergency care, how you would be transported there, and who would pay for it. In addition, unlike more and more hospital facilities that are being accredited by the Joint Commission International, (click for a list of accredited hospitals) the organization responsible for making sure hospitals adhere to acceptable practices and procedures, independent, free-standing facilities frequently are not similarly examined or accredited.

Finally, and perhaps the most difficult information to find, is the outcome and results of a given procedure. Ask ” How many of these operations do you do in a week, a month or a year ?” Also, inquire about the number of cases that result in complications, the need for revision surgery or significant morbidity i.e. something that unexpectedly doesn’t work the way it should after surgery, or postoperative death. Most doctors, including those in the US, will be unable to give you an accurate answer because they don’t keep good records or have an unreliable system to keep track of results. Sometimes the best you can do is to talk to someone who has had a similar procedure.

Getting information about a doctor and his or her results in not easy, wherever they practice. The more information you know, however, the better you can determine whether surgery away from home makes sense.

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ObesityFree – Specializing in Laparoscopic Weight-Loss Surgeries

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MedVoy is pleased to be partnered with ObesityFree that is focused on providing laparoscopic weight loss solutions for patients who have struggled for years with their excess weight. Obesity has become an epidemic and for the first time in many decades, life expectancy is expected to decline in years to come – by as much as 10 years because of this previously underestimated condition. A large number of weight loss operations have been devised over the last 50 years, including: vertical banded gastroplasty, gastric banding (adjustable or non-adjustable), Vertical Sleeve Gastrectomy (Gastric Sleeve) and malabsorbtion procedures such as Roux-en-Y gastric bypass, biliopancreatic diversion and duodenal switch.

Dr. Rosales of ObesityFree has specialized in – Gastric Sleeve and Adjustable Gastric Band – because the best results have come from these procedures, while also being safer with less complications and side effects. Dr. Rosales received an Invasive Surgery Fellowship at the Christus Health Group in Monterrey, Mexico and has been specializing in these procedures for the past five years. The surgeries are performed at the JCI Accredited facility of the Christus Health Group in Monterrey, Mexico. Dr. Rosales is a member of the Member of the Mexican Association of Endoscopic Surgery, AMCE and is also a Board Certified Surgeon with the American College of Surgeons (ACS) Certified for Advanced Trauma and Life Support.

Please visit their page for more details.

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Healthcare Open Enrollment Period

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It’s that time of year again… open enrollment for your health benefit plans. Most Americans are frustrated because their healthcare care bill is increasing… yet again… and this is exacerbated by the global recession and the confusion surrounding healthcare reform. Colorado is projected to see a healthcare increase of 14.4% in 2010 – slightly higher than other states due to the large number of small businesses in the state.

Large employers with 100 or more employees will often receive utilization and cost data and are in a much better position to manage their health care cost through aggressive plan management strategies and tactics. Small employers (and individuals) generally do not receive utilization and cost data plus often rely on the pooling of risk since they have a higher probability of costing the system more than the dollars they contribute through premium payments – since “everybody pays for a few”.

The misperception in healthcare is that cost and pricing for the same clinical procedure is relatively the same from provider to provider yet clinical costs vary significantly from zip code to zip code, state to state, and country to country.

Domestic and international medical tourism introduces transparency and helps to lower healthcare cost. There are scores of articles on lowering your out-of-pocket healthcare cost in 2011 that may help marginally. However, MedVoy is in a position to help individuals, employers and employees save real money on healthcare – contact us for details.

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Vetting your Doctor

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The term medical tourism is a bit of a misnomer as it downplays the serious nature of choosing a doctor – whether in your home country or abroad. The questions below, while not exhaustive, give you some guidance on choosing your doctor wisely.

What are your academic credentials?

Look for specialized training in the chosen field, such as plastic surgery / cosmetic surgery, bariatrics, orthopedics, fertility training, prosthodontics, etc. Many doctors have international training in the US and Europe and may be American-board certified which helps to put US patients at ease. High-quality doctors collaborate internationally and regionally so also, think twice before underestimating a surgeon if they have graduated from a reputable medical school overseas. If you’re not sure – ask MedVoy!

Are you accredited?

International accreditation for providers include: Joint Commission International JCI, Trent Accreditation Scheme (TAS) and International Organization for Standardization (ISO), while the International Board of Medicine and Surgery (IBMS) certifies physicians. Furthermore, many countries also have stringent national standards that follow international guidelines. One example is Colombia, where hospitals follow international non-profit ICONTEC standards that are identical to ISQua standards. Hence, all accredited hospitals in Colombia are subsequently accredited by ISQua. Malaysia also has the Malaysian Society for Quality in Health (MSQH) that acts as an independent, not-for-profit organization to ensure safety and quality.

How many of these surgeries have you performed?

Experience is one of the most important elements towards a successful outcome. Whether the doctor performs the surgery every day or a few times a year is significant! Do they specialize in a certain area? A cosmetic surgeon such as MedVoy’s partner Denver Cosmetic Surgery that specializes in the aging face is going to give you a better outcome than a dilettante. Find out how many of these surgeries the doctors has performed. Also, make sure that the actual surgeon will be performing the surgery and not a subordinate.

What materials do you use?

There is a wide range in quality in the materials used – so ask! Are they from a reputable company like Johnson and Johnson or Boston Scientific? Do they provide a guaranty? MedVoy’s partner Travel and Smile in Peru will uses German-made noble metal crowns and that are the standard in the US and Germany and gives a lifetime guarantee on quality. Make sure that you know this before you are actually there.

This list does not cover all the questions which is why it’s important to work with a well-established medical tourism company.

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