This article discusses systemic factors that govern healthcare financing, delivery, rising costs, and consumerism. The rising concern of healthcare market experts enlists the factors mentioned above as major influencers for pushing the Americans abroad for medical healthcare. An analysis of these factors can help practitioners to understand how the current healthcare concerns of patients can affect their annual revenue.
By definition, “medical tourism” occurs when patients seek alternate options for treatments. This trend is blossoming in America, especially in underinsured or low-income populations. It is also more common for those who use limited, publicly funded medical services, and the “working poor” (who do not qualify for public/ employment based insurance).
Systemic factors behind medical tourism
The systemic factors of medical tourism include individual motivations which have led the foundations of this industry. To our knowledge, the main systemic factors responsible for medical tourism can be categorized into three broad categories viz. 1. Medical financing and delivery, 2. Cost of medical care, and 3. Consumerism in healthcare.
Medical financing and delivery: The service providers in cities (concentrated urban centers) rely mostly on employer-based insurance coverage for financing treatments. However, precarious employment presents a challenge to reap the benefits of such insurance covers. Moreover, patients having employer based-covers also struggle as they are often not fully covered. This situation dictates that the under-employed or retired (seniors) individuals are ineligible for such medical financing options.
It may be intriguing for some, but not all Americans have the rightful access to extensive healthcare. This problem has more volume in rural areas. Hence, at this juncture, medical tourism (to save money on out-of-pocket medical expenses) appears to be an appropriate option for these individuals.
Cost of medical care: It has also been brought to the attention that the rising healthcare cost is playing a significant role in limiting the actual covered amount of medical care. On the other hand, the practitioners justify this cost rise in terms of safety and effectiveness of the treatment. Also, the rising fees of medical education and payback of massive student loans force practitioners to face the pressure to maintain a profiting business. This aspect drives them to increase treatment fees. Treatment costs thus increased are generally not covered. So, patients seek affordable treatment options abroad.
Consumerism in healthcare: Rapidly evolving cultural norms and advances in medical technology have boosted the demand for the treatments (plastic/ dental/ cosmetic surgeries) that are not covered by insurance companies. So, the procedure seekers have to pay for such out-of-pocket expenses. Additionally, for some (who have never previously paid out-of-pocket for services) the medical care cost can come as a surprise. Hence, consumers often shop around (across the globe) for the best value. Most American consumers have reflected a deep concern for the cost of care, which becomes a deciding factor for them to travel abroad for treatments.
Summary
Our analysis in this article can help practitioners to visualize the actual barriers which are preventing the patients from reaching their doorsteps. The above mentioned systemic barriers indicate that there is an immediate need for finding perfect solutions to retain patients. Based on these facts, it can be concluded that procedure cost and lack of proper medical financing options are the key motivations of medical tourists. In the absence of timely intervention (for vulnerable populations, insurance status, socioeconomic status, and geographic location,), these systematic factors are likely to amplify and will ultimately push more Americans towards medical tourism. In short, it can be said that the increasing cost of medical care, reduced insurance coverage, and shifting cultural norms need the quick attention of policymakers.
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