A few years ago, David Elliot Cohen wrote a book (One Year Off) about a round-the-world journey with his wife and three children. While in Thailand, his daughter had a finger injury and needed minor surgery at Bumrungrad Hospital in Bangkok. Apprehensive at first, he was amazed at the quality and efficiency of the care, not to mention the low cost.
…in Thailand, we received more efficient, more courteous, and far less expensive health care than we could have ever gotten back home in Marin County. I would take my kids back to Bumrungrad Hospital without hesitation.
Now, it appears more people are discovering the wonders of health care in Thailand and a few other Asian countries. Time Magazine just did a story on the increasing numbers of Americans who are traveling to Asia for surgeries with U.S. trained doctors. In doing so, they are spending considerably less, even when the travel costs are factored in, than it would cost for the same procedure at home.
As word has spread about the high-quality care and cut-rate surgery available in such countries as India, Thailand, Singapore and Malaysia, a growing stream of uninsured and underinsured Americans are boarding planes not for the typical face-lift or tummy tuck but for discount hip replacements and sophisticated heart surgeries. Bumrungrad alone…saw its stream of American patients climb to 55,000 last year, a 30% rise.
Even more interesting is the fact that some corporations are now looking into such “medical outsourcing” as a component of the health care benefits being offered to employees.
The calculus behind this interest isn’t complicated. Many major employers in the U.S. are self-insured, which means they pick up the tab for much of their employees’ medical care. …Â The bottom line: If more private payers sent patients abroad for uncomplicated elective surgeries, the savings could be enormous.
How big are the savings? According to Time, an angioplasty could cost anywhere from $25,000 to $82,000 in the U.S., depending on several factors, including whether the procedure is insured or not. By contrast, the same procedure in Thailand, Singapore or India would cost $11-13,000.Â
Is this a preview of the globalization of health care? Heck, even Angelina and Brad journeyed to Namibia for the birth of their child … although it’s safe to presume they weren’t quite as concerned about the costs involved.