An Easy Guide To Navigating Medical Tourism

What Is Medical Tourism?

Medical tourism refers to the practice of traveling to foreign countries for medical treatment. The primary motivation for many Americans to seek care abroad is cost. In 2022, the average expenditure on personal health care reached $13,493, culminating in a total national expenditure of $4.5 trillion.

What Drives The Medical Tourism Industry?

Seeking treatment overseas presents a viable option for those with high-deductible health plans, such as health savings accounts. Setting one up allows you to withdraw funds to pay for procedures; however, the IRS imposes a 20% penalty on any withdrawals that are not used for medical expenses.

In addition to cost, several other factors are contributing to the growing trend of seeking medical services abroad. These include the high standards of care, accreditation of healthcare facilities, and reduced waiting times. The latter is particularly influential in patients’ decision-making. Many American medical facilities are known for their lengthy waiting periods; a survey found that 26% of patients reported waiting two months or longer for care, which many deem excessive.

Additionally, medical tourism can double as a vacation opportunity for travel enthusiasts, allowing them to pair leisure with healthcare needs.

Popular Medical Tourism Destinations

Several countries have emerged as prominent destinations for medical tourism.

1. Poland

Poland is recognized as an excellent location for plastic surgery, where many surgeons receive their training internationally and obtain credentials from reputable organizations such as the European Board of Plastic, Reconstructive and Aesthetic Surgery. Prices for procedures here are typically 40% to 70% lower than those in the U.S.

2. Singapore

Singapore is celebrated for its state-of-the-art healthcare facilities, comprehensive range of services, and top-tier specialists dedicated to addressing patient needs. It stands out as a key medical tourism destination in Asia, alongside Thailand and Malaysia. The market for medical tourism is also expanding in Vietnam and the Philippines, while the ASEAN region captured a 31% share of the global medical tourism market in 2020.

3. Turkey

Turkey has become a leading destination for cosmetic surgery; as of 2023, it ranked fourth worldwide in the number of procedures performed. The country boasts over 1,000 hospitals and clinics accredited by the Joint Commission International.

4. South Korea

According to South Korea’s Ministry of Health and Welfare, the year 2023 saw a remarkable 606,000 international patients, the highest figure since 2009. The country is renowned not only for its exceptional cosmetic surgery offerings but also for attracting patients seeking general medical checkups and comprehensive internal medicine services.

Common Procedures Driving Medical Tourism

Interestingly, in 2021, the largest segment of the global medical tourism market was not cosmetic procedures but rather cardiac treatments, largely due to the rising number of cardiovascular diseases.

Many individuals have relocated temporarily abroad for heart surgeries and related medical procedures. Others travel seeking treatment for various health issues, including cancer, orthopedic conditions involving bones and muscles, fertility concerns, as well as dental and neurological disorders.

The medical tourism sector holds significant potential to bolster the gross domestic product of nations that excel in this area. The global market is expected to exceed $72.8 billion by 2031, presenting an opportunity for patients to receive high-quality care without the hefty price tag.

Medical Tourism Offers Choice

Medical tourism provides individuals with affordable healthcare options, especially in nations where living costs are high, such as the United States. If a local surgical procedure is likely to lead you into debt, consider researching international facilities that offer services within your financial reach.