Friday, September 09, 2011

Markets in Everything: Medical Tourism TO the USA

"Miami hospitals are partnering with the Greater Miami Convention & Visitors Bureau to market Miami as a destination for international patients. Deloitte estimated in 2008 that 400,000 international patients go to the US for medical care, but since then other sources have suggested it is much higher and the current figure could be around 750,000. Ironically, the country most targeted by overseas destinations, the USA, now probably has more inbound medical tourists than there are Americans going overseas."

3 Comments:

At 9/10/2011 11:20 AM, Blogger Jim said...

I'm wondering if foreign medical customers agree not to sue for malpractice in US courts in exchange for medical services. I know when American customers go overseas they lose their right to sue in US courts which really helps to reduce costs. Perhaps foreign customers agree to settle disputes in other jurisdictions or via private arbitration services. Can anyone confirm this??

 
At 9/10/2011 11:54 AM, Blogger H.A. Black said...

Say goodbye to this source of revenue if Obamacare is fully implemented.

 
At 9/11/2011 2:44 PM, Blogger Kevin said...

Yeah, I wonder how the PPACA will handle people outside "the system" (which, if the individual mandate holds up will be limited to foreigners).I would guess they would be charged lower, market prices, which ought to call into question why people in the country with insurance are paying more (a question with obvious answers to anyone familiar with Austrian theory). I would also guess that the government would attempt to restrict such activity since it would belie the inefficiencies of the marvelous government-run system. They might disallow it altogether or impose extra costs in order to bring prices up to what residents pay, but either policy will have the same effect.

 

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