The concept of medical tourism is an instant hit for two reasons: the promise of good treatment at half the cost and the added bonus of a vacation to a foreign land.
Once the idea caught on, the travel and hospitality industry was quick to see the benefits of tying up with the medical community and expand the limits of this new business. According to the International Medical Travel Journal, 48 percent of the industry has seen a steady rise in international patient numbers in the last 12 months, while almost 76 percent expect more growth in the next 12 months.
Even governments around the world have woken up to the political and financial benefits of medical tourism and are working with their hospitality departments to make medical tourism a success.
Malaysia, Thailand, Costa Rica and South Korea are among the nations that are leading the medical tourism bandwagon. Surprise progress has been manifested in the growing figures displayed by Turkey and Australia.
Turkey has always known for being an exotic tourist destination, rather than for its medical expertise. Australia is one of the most developed nations of the world, but few would have thought the country would provide low-cost, high-quality treatment options to make it one of the fastest-growing medical tourism venues.
Another interesting phenomenon that has come to light in the IMTJ report is that the focus is no longer on price competition but on quality and luxury deliverables that will offer a rich vacation and health experience.
Here is a quick look at three of the hottest destinations this year:
1. Turkey
The Turkish medical community is now offering a wide variety of high-quality treatment options for all foreign nationals. According to Deloitte's 2014 Global Life Sciences Outlook, Turkey welcomed 250,000 medical tourists in 2012 and is now one of the top 10 healthcare destinations globally.
This favorite vacation destination is slated to grow quickly in the medical tourism arena and report a volume of around $19 billion by 2017. What makes it unique is that the industry in Turkey has converged modern medical science with natural healing by including the country's 1,600-plus thermal springs in many packages.
Along with medical treatment, one can enjoy spa facilities to heal and rejuvenate their bodies. The Turkish Ministry of Health is hoping to increase the number of incoming medical tourists to 500,000 by 2015 and to 2 million by 2023.
2. Costa Rica
Another favored destination for medical tourism this year is Costa Rica. This beautiful country has been one of the most popular vacation destinations for the 21st century and now offers quality and affordable treatment options as well. With qualified doctors and a sizeable English-speaking populace, Costa Rica is easy to access and stay in for extended durations of treatment.
Treatments cost much less compared to the U.S., with fields like dentistry costing at least 50 percent less. Costa Rica now ranks higher than US, at 36th in the global index of quality healthcare as per the World Health Organization.
Adding to Costa Rica's popularity is that under the new Affordable Care Act system in the U.S., many insurance companies are willing to cover healthcare expenses for patients who wish to get treated in Costa Rica.
3. Australia
The Australian medical tourism market is new but growing at quite a fast pace. Latest reports show that a leading private hospital group in the country sees around 600 international patients coming in from 30 different countries per year. This is just one group, and many others are working simultaneously and rising fast.
Costs are almost 20 percent less than in the U.S., but the industry is still at a nascent stage and needs to grow so that Australia can stop sending its own patients to Asian countries and bring in more medical tourists each year.
Right now Australia is targeting patients from New Zealand, various Asian countries and even the Americas. 2013 saw more than 10,000 medical tourists visiting Down Under and revenue of $23.4 million — a figure that is likely to grow by leaps and bounds in the near future.
These newer markets need to make Malaysia, Thailand and South Korea their models where government support combines with high-tech medical treatment to provide superior healthcare facilities. They need to learn from mistakes made by countries like India, which has medical talent and an English-speaking population, but completely failed with a lack of government initiatives and infrastructural support.
