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A Global Healthcare Model
Staff Writers
American businesses are now extending their cost-cutting initiatives to include offshore employee medical benefits and facilities like the Bumrungrad Hospital in Bangkok, Thailand (cosmetic surgery), the Apollo Hospital in New Delhi, India (cardiac and orthopedic surgery) are premier examples for surgical care.
Both are internationally recognized institutions that resemble five-star hotels equipped with the latest medical technology. Countries such as Finland, England and Canada are also catering to the English-speaking crowd, while dentistry is especially popular in Mexico and Costa Rica.
Although still considered “medical tourism,” Mercer Health and Benefits was recently retained by three Fortune 500 companies interested in contracting with offshore hospitals and JCAHO has accredited 88 foreign hospitals through a joint international commission.
To be sure, when India can discount costs up to 80%, the effects on domestic hospital reimbursement and physician compensation may be assumed to induce downward pricing pressure spirals.
So, what do you think of this idea and how does it relate to the currently weak US greenback?
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Filed under: Retirement and Benefits |
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Reverse Medical Tourism
Did you know that some US hospitals are trying to draw foreigners here with flat-fee rate care? Yep, it’s true according to the Wichita Eagle!
We all know that escalating health care and insurance costs are driving many Americans overseas for medical care, but some US hospitals – including at least one in Wichita – are aiming to bring foreign patients here by offering deeply discounted rates.
At the forefront are physician-owned hospitals, whose managers say they have the efficiency and flexibility to charge extremely low rates and still come out ahead. They call it “reverse medical tourism.”
Link: http://www.kansas.com/101/story/418149.html
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