Slide 1: Today
Today there are 50 countries that recognize medical tourism as a national industry worth about $55 billion dollars.
It was estimated to have a growth rate of 15-20% per year with 8 million annual patients and that number is growing every year.
More than 1 million of those patients are from the US as of 2015. It was interesting to see that This number is a 10 fold increase from about 130,000 just a few years ago. Every year there has been a steady increase in the number of medical tourists from the US.
The top players as of today are:
Singapore, thailand, maylaysia, india, brazil, hungary
Slide 2: Medical Tourism is here to Stay:
Here I tried to put together some ideas that experts think are the reasons why medical tourism is here to stay.
Quality isn’t scarified for value
Quality is always on everyone medical tourists minds. Over the years quality of so many of these medical tourism destination has improved drastically with places that outpace many American hospitals in terms of service, care, and technology.
Couple that I wanted to mention are:
· Wockhardt Hospital - India
· Has an exclusion agreement with Harvard Medical Center that gives the hospital access to cutting edge research
· Wooridul Spine Hospital – South Korea
· The hospital Exchanges current surgery techniques with institutions in the US and France through conferences and live-surgery video feed, hosts an annual international neuroscience forum, and publishes research results in world-renowned medical journals.
· Ranked 25th in world’s most technologically advanced hospitals.
· Lastly Prince Court Medical Centere – Malaysia
· Was ranked no. 1 two years in a row by Medical Travel Quality alliance for it’s excellence in care for their outstanding contribution in the areas of services of IVF for medical tourists.
Joint Commision International
· Joint Commission is an American nonprofit organization that accredits about 88% of All US U.S. hospitals include Massachusetts General Hospital, John’s Hopkins, Memoral sloan kettering among other big names. Their international division accredits global hospitals according to the same standards as those in the US. Today there’s more than 500 global hospitals the the Joint commission accredits. Many of those are in the regions of medical tourist destination. For example: Singlapore has a total of 26 hospitals for it’s 5 million people. 16 of those are accredited by the Joint Commission
· Works to improve patient safety and quality of health care internationally by offering education, publication, advisory services and international accreditation and certification
· They partner with hospitals, clinical and academic medical centers; health systems and agencies; government ministers, academia; and insertional associates to promote rigorous standard of care and to provide solution for achieving peak performances.
Slide 3: Medical Tourism is here to stay