PLX Academy ·News· 29 June 2022
In the multibillion-dollar industry of health tourism, quality of care and positive patient experience drives the market. Quality of care typifies not only the quality of medical treatment provided to each patient, but the quality of the patient experience from start to finish. The best hospitals for health travel boost patient experience, take into consideration all processes and factors in scheduling visits, have easy access to information, and probably the most important, possess good communication with healthcare providers.
As a result of this, the global medical tourism market was valued at $40 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 32.51% from 2022 to 2030. Cost savings and additional benefits to visitors such as improved healthcare, cutting-edge technologies, breakthrough medicines, sophisticated devices, superior hospitality, and individualized care are some of themajor drivers of the market.
Yearly, millions of patients travel from countries lacking healthcare infrastructure or are less advanced in a particular area of medical care to countries that provide highly-specialized medical care. Medical tourists may pursue medical care abroad for a variety of reasons, including recommendation from friends or family or to combine medical care with a vacation destination. They travel to another country to obtain treatment, whether medical, dental or cosmetic. Many patients go abroad to see the world’s leading experts in oncology, cardiology or neurology.
Coming to a decision about the best country to visit when it comes to medical tourism is specific to your condition and to the treatment that you are looking to obtain. The Medical Tourism Index (MTI) provides a comprehensive guide for patients who wish to learn more about the medical travel industry. According to MTI, the top 5 medical tourist destinations are:
Canada
It is the second-largest country in the world and attractsmore than 14 million American tourists every year. Its proximity to the US provides the country with a massive influx of tourists and patients who seek to bypass the long waiting times and high healthcare costs at home. Canada is highly reputed for positive patient experiences and offers high-quality specialized treatment in various fields and exceptional healthcare facilities. Treatments range from diagnostic tests to surgeries and even addiction treatment programs.
Singapore
In today’s highly competitive healthcare environment, hospitals in Singapore increasingly realise the need to focus on service quality and communication with patients as a means to increase positive patient experience and improve their competitive position. Healthcare services in Singaporeare also affordable, attracting thousands of medical tourists every year. A patient may save up to 40% of what they would spend on healthcare services in the US.
Japan
Having one of the most developed healthcare systems in the world, Japan continues to make advancements in order to deliver high-quality medical services and positive patient experiences based on interactions with physicians and medical staff. Two specialties of Japan are cancer treatment and cosmetic surgery. The low-cost of healthcare facilities is also a main driver of medical tourism in the country. A small comparison: hip replacement surgeries that cost $30,000 in the US are done at $4,126 in Japan, allowing patients to save 70% of treatment costs.
Spain
Being one of the most popular tourist destinations, Spain is also highly-ranked as a medical tourism destination by the MTI. This is due to the combination of first-class healthcare services, low cost and a beautiful travel experience. Common reasons for visiting the country include advanced orthopedic, cosmetic and dental procedures. Spain boasts several hospitals which offer exceptional patient experiences that are accredited by the Joint Commission International, including the renowned Hospital Universitario de Madrid and Sanitas Hospitales in Madrid.
United Kingdom
World-famous medical institutions such as the London Orthopedic Clinic, Birmingham Children’s Hospital, and the Cambridge Complex Orthopedic Trauma Center found in the UK attract millions of medical tourists every year. Besides high-quality healthcare services and excellent patient experiences, treatment in the UK is also more affordable than in the US.
The UK is also a choice for a tourist destination, welcoming more than 31 million international tourists every year, many of whom are attracted to the rich cultural heritage of Great Britain.