Marco Bitran Discusses The Costs of Medical Tourism

What is Medical Tourism

Medical tourism is a growing industry dealing with patients’ travel from one country to another to seek healthcare. Marco Bitran believes that there are many reasons why an individual may choose to become a medical tourist, including:

Lower costs

The costs of traveling abroad for treatment can be up to 80% less than what you would pay at home. In addition, there are ways in which you can save even more money by choosing where and when you will have your procedure done.

Less long waits

As previously mentioned, one of the most significant reasons for becoming a medical traveler is that you can get treated much faster than if you were getting care in your area. The time it takes to receive treatment depends on several factors, including the country you’re going to, how large their medical tourism industry is, and the availability of physicians, surgeons, or other specialists. In Australia, for example, where there are three times as many physicians per population as there are in America does not have nearly as much demand for international healthcare. Asia, Europe, and Latin America do not have this issue. This means that they cannot provide as great a service as those regions.

No long-term care costs

The cost of maintaining your health for years to come can take a huge toll on your wallet. For example, one study found that the average price of all healthcare-related costs for Americans was $27,844 per year or approximately $2300 per month. This means that an individual would have to make at least $246,000 a year to cover these expenses. However, most Americans only make around half of this amount, which means a great opportunity to save money on their annual healthcare expenses by seeking treatment abroad.

Travel Expenses

The final price tag associated with medical tourism is the cost of transportation and hotel accommodations. This can be a significant amount of money, but there are many ways to lower these costs. For example, you can often find deals on airline fares during off-peak seasons or stay at a location that charges by the day instead of per night. To save even more money, it may be advisable to split your expenses with someone else who is also going for treatment.

The Costs of Medical Tourism

What are the costs associated with becoming a medical tourist? Although prices can vary greatly depending on where you travel and what procedures you have done, it is generally cheaper to be treated abroad than domestically. For example, in Singapore, someone who has heart valve replacement surgery spends about $25,000 while someone in Bangkok spends only $10,000, and a patient living in New York City would spend around $150,000, according to one source. Other common procedures that cost much less when treatment is sought internationally include cataracts — $2,500 vs. $10,000 — ; hip replacements — $11,200 vs. $30,000 — and bariatric surgery — $17,000 vs. $25,000.

Final Thoughts

Medical tourism, or traveling to get medical treatment, is becoming more and more common, with estimates indicating that there are currently over 600,000 people per year who travel internationally to seek healthcare. While this may seem like a big number, it only accounts for about 1 out of every 324 trips, which means most people don’t even consider seeking medical treatments abroad. However, with the rising costs associated with local healthcare services and the availability of quality care in other countries, it is just a matter of time until we see more and more people traveling abroad for their health care needs.

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Marco Bitran

Marco Bitran

Real Estate Executive located in Boston, MA. Active athlete — running, cycling, & swimming.