Saturday, March 21, 2009

Affordable Health Care's Available at 80% Discounts

New York Times -- At least 85,000 Americans choose to travel abroad for medical procedures each year, according to a recent report by the consulting firm McKinsey & Company. Treatment includes dental implants, hip and knee replacements, heart valve replacements and bypass surgery. The cost of surgery performed overseas can be as little as 20% of the price of the same procedure in the United States, according to a recent report by the American Medical Association (see chart above).

Medical tourism is expected to expand quickly in the coming years because of rising health care costs in the United States, increasing availability of international facilities with United States accreditation, and the fact that insurers and employers are beginning to embrace the practice.

Blue Cross Blue Shield of South Carolina, for example, has started a subsidiary company, Companion Global Healthcare, to offer medical tourism services to individuals and businesses. Hannaford supermarkets in Maine recently added an international option for hip replacements to its health care plan.


At 3/21/2009 11:37 AM, Anonymous Anonymous said...

Have you seen this Mr Perry?

Glenn Beck has interviewed him a few times now. It's an interesting story of Government interference. It sounds like the state caved in somewhat; after the spotlight was on them.

Dr Muney insists that we largely overpay for our care. And his flat rates are a direct response to that observation.

One more thing OT: It looks like we won't be getting cap and trade this year.

At 3/21/2009 12:37 PM, Anonymous Anonymous said...

I am surprised that costs in Singapore, a developed country, are comparable to Thailand and India. I hope some can explain.

At 3/21/2009 7:06 PM, Anonymous Anonymous said...

The USA should promote itself as the destination for medical treatment. It seems like we are our own worse enemy - too much big government intervention and punative tort law. Release the medical entrepreneur and the USA can compete with anyone.


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