Insurance companies have an excellent opportunity for medical travel
With the cost of health care in the United States continues growing at rates above inflation, U.S. health insurers are going through a very difficult time because there is enormous pressure on its financial statements. Some allow these cost increases in its earnings impact as a means to gain market share, others are passed on to customers as higher premiums, and others prefer to maintain cost, but creatively pushing deductibles, co-payments, and contractual conditions to survive in a highly competitive and controversial. However, it must be recognized Little by little the safety valve is abroad.
As the flow of technology and information are shrinking our world, travel health is more universal. Americans looking for affordable but excellent medical procedures or dental find that neighboring countries have shown that focal Private health care offering high quality at a good price. Even if insurance companies in the United States realize that it is an irreversible trend and understand that to leave some of their customers choose to go abroad for surgery can offer great opportunities to alleviate some of the strain, which also are slow to adopt it as part of its strategy. Push insured clients to seek less expensive options abroad is not only illegal, but sometimes despised. What they do not realize is that they benefit this and what we need is to align the incentives a bit better.
The story of one of our recent patients illustrates this point. Chris Moss, a resident of Denver, who asked to remain anonymous, was recently diagnosed with prostate cancer and the advice of your physician for immediate treatment. No health problems in the past, this was his first call for Aetna Global Benefits, employer-provided insurance. To his surprise, while the robotic prostatectomy needed desperately cover 80% if the U.S. takes place, leaving him struggling to cover medical expenses over $ 10,000, he could choose to have your operation abroad and its insurer must pay 100% of it. Chris immediately began to explore options abroad, to jump on anything that is not conscious party or exceed the quality of care you can get in Denver and quickly found an option that: 1) provide high quality care, technology and experience surgeons, 2) is very close to home, 3) has a staff that speaks English, and 4) offers the possibility of remote consultation with doctors beforehand.
Unknowingly, Chris quickly became a medical traveler, one of the hundreds of thousands of Americans seeking affordable healthcare abroad. Since that patients usually do not know where to start your research or are travel facilitators provide medical care to understand that they are the best options, get quotes, contact with doctors, medical travel reservations, and to visit health care works. It is through our office called the trip home in Monterrey for the care that Chris learned about their options in Mexico and look flawless experience for reservations, and registration in the hospital to get home. Two weeks after the start of his research, Chris cancer was removed using the most advanced in the world of medicine we know today.
In this case, Chris very happy to have spent about $ 1,000 in travel and accommodation as easily have spent more than $ 10,000 in co-payments back to Denver. Similarly, your company Insurance has spent about $ 28,000 when I could pay 80% of surgery $ 50,000, or about $ 40,000. The case is clear, the best medical care outside the United States, following the same standards of quality, it's so cheap to pay 100% cheaper than paying 80% of the United States. While that this type of policy and coverage of 100% foreign words are not the property of the health plan should be a revelation for the industry. Let's clear that nobody forced to go abroad for surgery. Nothing illegal or despised, it was. All parties are satisfied (including Mexicans involved.) This study simple case for free markets and incentives. Perhaps insurers should notify the holders of those policies have exciting opportunities abroad. Maybe all Insurance companies should consider adding the "100% coverage abroad," according to all policies and see how the invisible hand of market have reduced costs and therefore premiums. In general, there are great opportunities for foreign insurers for the use of creativity in the right way. The best part is that all those who wait: insurers, customers and society as a whole.
About the Author
Gabriel Senior is the Founder and General Manager of Travel For Care, an innovative medical travel facilitator based in Monterrey, Mexico marketing high quality medical services to North American patients. For more information please visit www.travelforcare.com or call (800)571-0640
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