Americans traveling abroad for cheaper medical treatment is still increasing. After the financial crash of 2008, Americans out of work or earning less increasingly turned to offshore facilities for cheaper medical procedures. There are world-class medical facilities in India, Singapore, Costa Rica, Philippines, and Mexico where Americans spend only 10-20% of what it would cost in the U.S.
The term “medical tourism” arose because people were saving so much by going abroad that there was plenty of money left over for touring around either before or after their medical treatment. As an example, dental procedures in Mexico (with American trained dentists) are roughly 20% of the cost in the U.S. One man in Alaska was quoted a price of $65,000 for extensive dental work that he needed. He then found a U.S. dental school where students would do the work for $35,000; but then he actually had the work done in Mexico where his cost was only $3,000.
There are many procedures that are cost prohibitive for people without insurance or their insurance has high deductibles, or their insurance doesn’t have specialists in the area. Medical tourists have been able to save $150,000 for cardiac surgery; $80,000 for double knee-replacements; or $700 for a tooth cap.
Prestigious medical institutions have expanded abroad to expand their brand. For example, Harvard Medical School and Mayo Clinic have posts in Dubai, India, and are looking to expand in other countries as well. These efforts help raise the level of world-class healthcare for locals and medical tourists.
If you are interested in offshore medical treatment, the best place to start is a medical tourism agency because they are experts and it is free (they are compensated by the hospitals). Below are the questions you’ll want answered up front:
- Different countries have different areas of expertise, what is your procedure and who is the best for that?
- Has the facility received an ISO quality certification?
- Aftercare and emergency treatment – if something goes wrong, where do you get emergency care?
- Background checks on doctors and patient recommendations?
- Several price quotes from different facilities?
While many Canadians come to the U.S. to get access to procedures, Americans are increasingly going abroad to spend a fraction of the cost for their own procedures.