On a recent business trip to SE Asia and all too aware of my impending sixtieth birthday next January, I reserved an extra day in Bangkok for some routine medical tests and procedures. The story will likely be familiar to you: my eyesight ain't what it used to be, I can barely hear my dinner companions in restaurants, and it was once again time for that dreaded colonoscopy. So I booked a vision exam, a comprehensive auditory test, and the endoscopic-style procedure.
I carry a health insurance plan with a $10,000 deductible. These high-deductible policies are often called "catastrophic," because they exclude run-of-the mill illnesses and mishaps while providing the healthcare consumer with coverage for more expensive conditions and treatments that can otherwise wreak havoc on your wallet and entire family.
I call them "common-sense" plans, particularly when coupled with creative price-shopping on medical procedures. My policy saves our family $560/month in premiums compared to a typical plan offering a $500 deductible. We then put aside the differential in a health savings account, holding it as reserve for marginal healthcare costs that may come our way.
A $560/month savings translates to $6,720/year, or nearly $70,000 over a ten-year period. Compounded annually at 4%, this becomes nearly $100,000 in savings over ten years and nearly a quarter-million over 20 years. That's practically a retirement plan for many of us!
Before heading abroad, I called for local quotes on a hearing test. Duke Medical Center in the next town wanted an astounding $1,625 for an auditory exam and specialist consultation. My lowest quote for a clinical test and consult within 50 miles was just under $1,000.
On to the colonoscopy. After much back-and-forth trying to obtain estimates in the US, I finally learned that the least-expensive procedure within 50 miles was $3,200, not counting anesthesia or costs for any additional requirements -- and the finance people at the clinics wouldn't even give me a quote for additional work. Wait, finance department? Why am I talking to accountants? Why isn't this a customer service exchange? Oh, that's right, I'm in the US, where every single aspect of healthcare is upside down. But don't get me started...
The bottom line: I opted to get checked out while abroad, I was in and out of Bangkok's five-star Bumrungrad International Hospital in just under five hours, and I saved a total of $5,400. I had dinner that night with friends and sprang for the meal with a wallet that felt a good deal fatter for my healthcare savings.
While in SE Asia, I could have had my pick of any of more than 40 US-accredited hospitals in Singapore, Malaysia, or Thailand. Twenty of those facilities have a full International Patient Services Department, with English spoken throughout, where a cost quote can be easily obtained for a wide array of tests and medical procedures.
Are your own travels taking you closer to home? Prices for healthcare in destinations such as Mexico, Costa Rica, or the Bahamas are a little higher than in Thailand, but still offer substantial savings over costs in your backyard.
Even if you don't care to go with the strategy of a high-deductible health plan, you may want to consider adding a day or two to a business or leisure trip abroad for testing and other routine medical procedures -- MRIs, CT scans, light dental work, an annual physical, health screening, and a host of other choices.
Sooner or later you'll need to take time off for routine health maintenance and examination -- why not pay for your trip with savings on the incidental medical visit? With more than 400 American-accredited hospitals and clinics now offering Western-style medical treatment in 47 countries around the world, it's a bit of a no-brainer to check out your medical tourism options. That's certainly a great alternative to complaining about the astronomical costs of care here in the US.
Follow Josef Woodman on Twitter: www.twitter.com/JosefWoodman
One of the major problems in the US healthcare system is INTRANSPARENCY, caused by several layers with varying interest (government, insurance, etc.) that have been put between doctor and patient.
To a great extent the system is even cheating itself. How else would you explain that an ER doctor has to charge 1.000 USD for 30 minutes, doing this only because she knows that she will only be able to actually recover 20% of it.
Anyone of use can help to change the system by "voting with our feet", that means actually using global healthcare options and going abroad for medical and cosmetic treatments.
Dr. Thomas H Treutler
http://www.FlyClinic.com
http://www.FlyClinic.co
You obviously wouldn't book a trip with that kind of work in mind, but it's a great thing to include in your plans if you also want to visit one of the most beautiful countries in the world.
more trouble than its worth collecting on nickel & dime claims anyway
I assumed common knowledge also - any hoo - what you didnt stress is it is huge business in bangkok
a major procedure is gender reassignations (nip and tuck in the trade), so do be clear about the procedure required b4 they put u under :)
Things dont always go to plan - so think about accommodation - they will happily charge $45+ for a semi western hotel - but do it right & u get a local style 1 room apartment for $200pm - anywhere on the skytrain should be fine & cabs & bike taxis are cheap - u dont need hot water - is already hot when come out of tap
US having a bad time from outsourcing, but w/ health - they had it coming
see my other post about accomm. & hey u can go somwhere new as well.
http://money.cnn.com/2010/08/11/news/companies/health_care_medical_travel/index.htm
One way to cut health care costs? Outsource surgeries - Aug. 11, 2010
"NEW YORK (CNNMoney.com) -- Tina Follett and her husband Patrick are in Panama on a two-week all-expenses paid trip. But Tina isn't on vacation. She's there to get surgery..."
Dental work is much cheaper in Mexico:
http://money.cnn.com/2010/07/07/smallbusiness/denticenter/index.htm
For cut-rate dental care, head to Mexico - Jul. 7, 2010
I anticipate there will be many poster ready to make silly jokes about kidnappings and be-headings and unsanitary conditions in places like Thailand and Mexico. Perhaps its best for them to keep their uninformed impressions so pricing stays low for people like us abroad?
- transparency of information (price, services, quality, risks)
- freedom to choose (should be a fundamental right anyway!)
- responsible and ethical behavior of industry players - self control
Global Healthcare might well be one of the most important factors in turning the US healthcare system around and making it competitive and affordable again. Obviously, this is not for everyone and not all the players in this industry are what they promise to be. However, the idea transmitted by Josef in his article is: taking Global Healthcare as an option. Figure how much time we are spending on research before buying a car. How much time did you spend on research before your last medical procedure?
Patients should take control of their own healthcare, ask for transparent information regarding procedures, risks, quality of clinics and doctors, price and services included.
Savings can be between 30% and 80%, even including hotel and air travel. I invite you to compare some of the best doctors in South America with the service you receive in your home town. Don't see it as mandatory but rather an option. You can always say no!
Dr. Thomas H Treutler
http://www.flyclinic.com
http://www.flyclinic.co
for needed medical care.
I'm hoping to have some cosmetic dental work done in the next few years and thinking about Belize.