It was certain to occur with medical expenses increasing in the States : overseas medical tourism.
Like America's automobile industry three decades ago, the American medical establishment regularly acts like it's a monopoly having a captive audience and the American public has no choice but to continue to pay ever increasing prices because there aren't any viable options.
The U.S. medical industry would do well to recollect 2 things
- - - Americans have learned how to vote with their pocketbooks
- - - Detroit
America's Auto Industry
Everybody remembers what has happened to the Big 3 automobile manufacturers. An upstart companyâ€"-an overseas company at thatâ€"-came along, offered higher quality vehicles for less money and sold millions of foreign-made autos while Detroit was in a near state of denial.
Consumers voted with their pocketbooks and Detroit lost to a foreign competitor.
America's Medical Industry
Gallup, one of the most famous pollsters , has reported that 40% of consumers in the U.S. surveyed have related they'd be willing to travel internationally for major medical treatment if they'd receive equal quality of care at significantly lower prices.
That percentage rises more for uninsured Americans (now approaching about fifty million).
And, like they proved with the American vehicle industry, they are increasingly capable of with their pocketbooks, boarding an airplane for their medical care in foreign lands.
Medical Tourism in Costa Rica
As the U.S. medical industry seems, at times, hell-bent on pricing itself out of the marketplace for millions of Americans that vacuum is being met by overseas rivals that have seen imressive expansion in the last few years.
Just like the Japanese manufacturer Toyota transformed American car purchasing habits thirty years back, Costa Rica and other countries like India, Mexico, Malaysia, and Thailand are aiming at cutting into the American medical industryâ€"- each aiming to take a slice of the projected one hundred billion dollar medical tourism pie.
And, though it's one of the smallest countries on earth, Costa Rica is consistently ranked in the top five overseas medical tourism destinations.
It's easy to see why.
1. Cost . In 2009, the Deloitte Center for Health Solutions reported that average prices for American patients was 30-70% from what they'd often pay back home.
2. Standard of Care . The world's very best hospitals are awarded Joint Commission International (JCI) Validation and Costa Rica has 3 privately owned hospitals having that distinction, more than any Latin America country.
In addition, many physicians are board licensed (frequently trained in the U.S.) and speak English.
3. Prompt Treatment . Many British men and women also travel when they have serious medical problems because, though they have socialised medicine, the wait time can be lengthy. Not so in Costa Rica.
4. Ease and Cost of Travel . Unlike India, Malaysia, Thailand, or other Asian countries, Costa Rica is just two and a half hours from Miami. Combined with enough savings to often cover for the cost of transportation the convenience and price are powerful motivations.
5. Safety . Fact is that places like Mexico have significant questions of safety, unlike Costa Rica with its stable democracy.
It's no surprise, then, that upwards of 35,000 visitors a year combine a tropical holiday with medical care in Costa Rica.
Like America's automobile industry three decades ago, the American medical establishment regularly acts like it's a monopoly having a captive audience and the American public has no choice but to continue to pay ever increasing prices because there aren't any viable options.
The U.S. medical industry would do well to recollect 2 things
- - - Americans have learned how to vote with their pocketbooks
- - - Detroit
America's Auto Industry
Everybody remembers what has happened to the Big 3 automobile manufacturers. An upstart companyâ€"-an overseas company at thatâ€"-came along, offered higher quality vehicles for less money and sold millions of foreign-made autos while Detroit was in a near state of denial.
Consumers voted with their pocketbooks and Detroit lost to a foreign competitor.
America's Medical Industry
Gallup, one of the most famous pollsters , has reported that 40% of consumers in the U.S. surveyed have related they'd be willing to travel internationally for major medical treatment if they'd receive equal quality of care at significantly lower prices.
That percentage rises more for uninsured Americans (now approaching about fifty million).
And, like they proved with the American vehicle industry, they are increasingly capable of with their pocketbooks, boarding an airplane for their medical care in foreign lands.
Medical Tourism in Costa Rica
As the U.S. medical industry seems, at times, hell-bent on pricing itself out of the marketplace for millions of Americans that vacuum is being met by overseas rivals that have seen imressive expansion in the last few years.
Just like the Japanese manufacturer Toyota transformed American car purchasing habits thirty years back, Costa Rica and other countries like India, Mexico, Malaysia, and Thailand are aiming at cutting into the American medical industryâ€"- each aiming to take a slice of the projected one hundred billion dollar medical tourism pie.
And, though it's one of the smallest countries on earth, Costa Rica is consistently ranked in the top five overseas medical tourism destinations.
It's easy to see why.
1. Cost . In 2009, the Deloitte Center for Health Solutions reported that average prices for American patients was 30-70% from what they'd often pay back home.
2. Standard of Care . The world's very best hospitals are awarded Joint Commission International (JCI) Validation and Costa Rica has 3 privately owned hospitals having that distinction, more than any Latin America country.
In addition, many physicians are board licensed (frequently trained in the U.S.) and speak English.
3. Prompt Treatment . Many British men and women also travel when they have serious medical problems because, though they have socialised medicine, the wait time can be lengthy. Not so in Costa Rica.
4. Ease and Cost of Travel . Unlike India, Malaysia, Thailand, or other Asian countries, Costa Rica is just two and a half hours from Miami. Combined with enough savings to often cover for the cost of transportation the convenience and price are powerful motivations.
5. Safety . Fact is that places like Mexico have significant questions of safety, unlike Costa Rica with its stable democracy.
It's no surprise, then, that upwards of 35,000 visitors a year combine a tropical holiday with medical care in Costa Rica.
About the Author:
One of our favourite pastimes is traveling and, with its many attractions and terrific climate, vacations in Costa Rica are popular. Come visit the Land of Pura Vida.And, with Costa Rica medical care offering outstanding treatments and care at unbelievably inexpensive prices, why not combine that vacation with a bit of that care.
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