{"id":1107737,"date":"2019-03-27T14:42:15","date_gmt":"2019-03-27T14:42:15","guid":{"rendered":"https:\/\/dailyreckoning.com\/?p=107027"},"modified":"2019-03-27T14:42:15","modified_gmt":"2019-03-27T14:42:15","slug":"the-surprising-way-to-save-on-your-next-medical-procedure","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1107737","title":{"rendered":"The Surprising Way to Save on Your Next Medical Procedure"},"content":{"rendered":"

This post The Surprising Way to Save on Your Next Medical Procedure<\/a> appeared first on Daily Reckoning<\/a>.<\/p>\n

Americans seek health care in other countries for numerous reasons. Some are immigrants who prefer providers from a similar culture. Others might want a procedure that is not available in the U.S. <\/span><\/p>\n

However, the biggest factor motivating them is cost. <\/span><\/p>\n

In the U.S. we have the most expensive health care system in the world. It\u2019s not difficult to find countries that offer procedures at 30%-65% of the cost in the U.S. <\/span><\/p>\n

For example a knee replacement that would run $35,000 to $60,000 in the U.S. costs less than $23,000 in Costa Rica or India, including airfare and lodging for the patient and a companion. <\/span><\/p>\n

Facilities offshore can charge less because of lower pay to doctors and other health care workers. Plus there\u2019s less overhead since patients pay cash, and providers may not have to carry the same level of malpractice insurance as here in the states. <\/span><\/p>\n

Common procedures include orthopedic surgery, cosmetic surgery, cardiac surgery, oncologic care, and dentistry. <\/span><\/p>\n

So it\u2019s no surprise that medical tourism is booming. Patients are combining medical procedures while vacationing abroad.<\/span><\/p>\n

In 2017, more than 1.4 million Americans sought health care in a variety of countries, up from 750,000 in 2007. The number is expected to increase by 25% per year. <\/span><\/p>\n

The Amount of Money Involved is Impressive\u2026<\/b><\/span><\/h2>\n

Worldwide, patients spend $3,800-$6,000 per visit. And the total value of the entire medical tourist business per year is around $439 billion, which has made it one of the fastest growing markets in the healthcare sector.<\/span><\/p>\n

Countries around the world are tapping into this niche… <\/span><\/p>\n

For instance, nearly 1 million people went to Turkey in 2018 for health tourism. <\/span><\/p>\n

Mummy makeovers have become popular in Thailand. Beginning at $10,000 new moms can undergo extensive procedures, such as breast lifts and laser peels, to regain their pre-baby appearance. <\/span><\/p>\n

And companies offering vacation packages that include cosmetic surgery and dental procedures are popping up like mushrooms. The offers generally include private hospital services, \u201chighly trained\u201d and \u201ccredentialed\u201d medical staff, and recovery time in an exotic setting. <\/span><\/p>\n

The top destinations are Thailand, Mexico, Singapore, India, Malaysia, Cuba, Brazil, Argentina, and Costa Rica. <\/span><\/p>\n

And they offer everything from \u201csafari and surgery\u201d to \u201ctropical, scenic tour\u201d vacation packages.<\/span><\/p>\n

You\u2019ll likely have to pay for your care at the time of service and use a private company or medical concierge to identify foreign health care facilities.<\/span><\/p>\n

Unfortunately, these companies might not require accreditation of foreign providers, track patient results, or maintain medical record security policies.<\/span><\/p>\n

The Risks<\/b><\/span><\/h2>\n

The quality of care in hospitals and clinics outside the U.S. is the primary concern. And there are no U.S. laws that will protect you or require medical personnel have specific training or qualifications.\u00a0<\/span><\/p>\n

Countries differ in their standards for infection control and safety. Using fresh gloves, sterile instruments, and safe water are not always the norm. Without these precautions, you could be infected with hard-to-treat bacteria not commonly seen in the U.S.<\/span><\/p>\n

For example, the Centers for Disease Control and Prevention (CDC) reported that some U.S. residents who had weight-loss surgery in Tijuana, Mexico, were diagnosed with infections caused by an antibiotic-resistant form of Pseudomonas aeruginosa<\/i> bacteria.<\/span><\/p>\n

And the CDC issued warnings about procedures in the Dominican Republic. That was after dozens of women reported coming down with potentially fatal infections post-surgery.<\/span><\/p>\n

There are other issues too, such as:<\/span><\/p>\n