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| Medical tourism is a $20 billion industry and it is expected to grow still further. In addition, medical tourism is expected to drive the growth of many economies and the United States market continues to lead the growth of medical tourism in the world. |
United States is the only developed country in the world where public healthcare is not provided. People have to have medical insurance to get access to treatment and care. The escalating cost of medical insurance means that many people in the US are un-insured or non-insured. This number has given impetus to medical tourism with most people preferring to go abroad for medical procedures rather than having treatment back home. This is because medical tourism offers an effective and a much cheaper alternative for medical ailments.
Yielding to pressure, many health insurers like Health Net, Aetna Inc and Blue Cross Blue Shield are now offering cost savings to people who take non-emergency medical treatment to foreign countries. This includes back, hips and knee ailments. This has resulted in many people opting for medical tourism and many prefer Mexico because of the proximity and the incentives offered by the US insurers.
So, what is the politicians’ view on medical tourism? Well the federal government has convened an interagency committee to examine medical tourism because this industry is still a new industry in the country and is governed by many market factors. The US is trying to promote medical tourism as a cost savings measure.
Many Fortune 500 companies and West Virginia legislature is considering bonuses for employees who are willing to go abroad for medical treatment. The bonuses include first-class airfare and four-star hotel stay.
The US Senate Committee on Aging held a hearing in July 2006 on medical tourism. The hearing was called The Globalization of Healthcare: Can Medical Tourism Reduce Healthcare Costs? The aim of the hearing was to address the topic of medical tourism, the growth of the industry, safety of patients and possible regulation of the industry. The committee was chaired by Senator Gordon H. Smith and he asked several federal agencies like Department of Health and Human Services, Department of Commerce and Department of State to an interagency task force so that lawmakers can reach a decision on medical tourism.
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