The Cost Involved in the Medical Tourism Industry

The medical tourism sector is representative of a worldwide, multi-billion dollar industry that is expected to grow exponentially in the next decade. For a patient who is interested in the health services offered, cost is an important factor that is involved in the decision to procure medical care abroad. As the cost of healthcare in the US and other parts of the world are increasing rapidly, most employers and insurance companies see medical tourism as a means to reduce them. Many countries have begun to see the financial benefits of this emerging market so as to get premium medical services at a lower rate. The nation’s economic status is directly responsible in lowering the prices of clinics and hospitals in developing countries. The per capita gross domestic product of the country is observed which acts as a proxy for the levels of income. As a result of this, the prices of surgery are 30% to 70% lower in the nations that promote medical tourism in comparison to the US.

The above-mentioned facts add to the increasing influx of tourists who aim for medical tourism in Kerala, where one of the first steps to be implemented is the use of medical disposables like probe covers into the health care system.