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1www.sganalytics.com | Medical Tourism in USA

Medical tourism in the USA – It’s OK to be back!

SGA’s analysis on apprehensions, expectations, and alternatives

A patient’s journey in 2021- How far are you willing to travel? Mexico? Spain? or Costa Rica?

WHITEPAPER

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In 2020, there have been 82 million uninsured or underinsured medical consumers or “medical refugees”, who must find a way to get their procedures (surgeries) and treatments addressed as these procedures are unaffordable in their home countries. Moreover, 2 million insured patients are expected to travel either within or to other popular destinations due to the long waiting time, there are choices and there are apprehensions but there is positivity that this market will revive.

Globally some of the popular medical tourism destinations include Costa Rica, India, Israel, Malaysia, Mexico, Singapore, South Korea, Taiwan, Thailand, Turkey, and the USA. These medical tourism destinations offer a wide range of healthcare specialties – cosmetic surgery, dentistry, cardiovascular, oncology, orthopedics, onco-surgeries, reproductive, neonatology, weight loss, health screenings, and more. The USA had been the biggest market for medical tourism until the spread of COVID-19 when international travel was put on hold.

SG Analytics looks at the same market from its supply side. This market offers patients who love to travel either within the country or abroad. Let us consider a few of the major markets and the perception amongst the potential patients who might want to travel for medical interventions in 2021. SG Analytics identifies USA as a market and its visible trends as we approach the end of 2020.

SG Analytics brings together an outlook of this market, the perceptions, and the impact of apprehensions and perception of Americans towards medical tourism in 2021.Usually the industry analyzes the medical tourism market from the service provider’s perspective.


Medical Tourism in USA

The USA is one of the most interesting markets to watch out in 2021. There is a large population that is expected to travel within the USA for treatment and another pool that is expected to travel outside the country. The market is also segmented into medical refugees (uninsured- or underinsured) and medical tourists (fully insured).

More than 2 million US citizens were set to travel to other countries in search of cost-effective medical treatment this year; it has marked an increase of nearly tenfold from around 250,000 medical travelers a decade ago. This could not happen because the travel restrictions kept a lot of these eligible patients from moving outside the US, which has led to an all-time low confidence level in the market in 2020.

What will bring back the patients?

Cardio-vascular surgery is one of the major segments where patients may be willing to travel within the USA or to Mexico. They usually leave the home ground exclusively for two reasons, which are mentioned below.

1. Easy access to experts and

2. Assurance of higher quality of care than their home states.

Where will the US citizens travel for treatment?

The USA is one of the most developed markets when it comes to complicated surgery and comprehensive care. Yet, many patients move abroad due to factors, such as stringent regulations, long waiting time, and the high expense of treatment for uninsured/partially insured, while the rest look for US-based hospitals.

A section of the population is expected to arrive at major hospital districts due to deprivation of specialized care resulting from the closing of rural hospitals. They are domestic medical tourists who are expected to take the road and travel from one state to another. As the revival plan begins, hospitals and hotels are coming together to ensure safety for patients who are expected to travel for interventions. For instance, there are plans shared by hospitality giant Hyatt to open a unit in one of Chicago’s hospital-packed medical districts keeping in mind the aftermath of COVID pandemic

Patients Beyond Borders has teamed up with Medical Departures in the USA (with nearly 100,000 medical tourism bookings to date) and has confirmed that more than 85% of all medical travel is expected soon and most of them have decided to travel to destination (countries) of their choices based on specialty services, travel time, cost and convenience.

Unfortunately, the future looks bleak,” said Trey Hulsey, a co-founder of Hayakoum, a three-year-old service that handles travel arrangements for patients from the Middle East bound for hospitals in Boston, Houston and Philadelphia. “It’s just been one blow after another.

Source: NY Times (USA)


ParametersBarcelona

(Spain)Istanbul(Turkey)

Escazú (Costa Rica)

Seoul(S Korea)

Cancun (Mexico)

Why? (Preference)

Ranked the world’s 7th best healthcare nation by the World Health Organization, Internationally accredited clinics and hospitals

Best known for affordable hair transplantation; has more than 600 registered clinics in Istanbul alone

Ultra-Americanized suburb of San Jose to attract dental and medical tourists

World’s highest per-capita rate of cosmetic treatment

Replicated the Korea model of aesthetic treatment for Americans

#1 choice for Dentistry Hair Transplants & Ophthalmology

Cosmetic dentistry such as implants; weight loss

Cosmetic surgery, Aesthetic treatments

Elective procedures, including plastic surgery, dentistry and fertility besides cosmetic surgeries and aesthetic treatments

Expected cost reduction (Perception)

40–75% 50–70% 40–60% 30–50% 40–70%

Specialties in demand

Ophthalmology, Dentistry, Cosmetic Surgery, Orthopedics, Fertility, IVF, Pediatrics

Vision, Dentistry, Hair Transplant

Dentistry, cosmetic surgery, bariatrics

Non-invasive strategies from Botox to dermal fillers and from laser hair removal to dental veneers

Dentistry, cosmetic surgery, weight loss surgery, pharma travel

Direct Connectivity

Yes Yes Yes Fly (Time 2:50 hours)

Drive and fly (California to Cancun: 49 hours by road)

Countries where Americans are expected to travel


Opportunity for Players, by top 3 segments in 2021

Hospitals Medical Devices Medical Tourism Agencies

Medical tourism in 2021Mexico – the closest neighbor to USA will play on quality and price

More...

Heart

Procedure USA Hospitals Mexico Average Savings

Angioplasty $22,500 $11,500 50%

Angiography $4,800 $1,200 70%

Valve replacement $ 46,000 $16,000 60%

Bypass surgery $44,000 $24,000 50%

Open Heart surgery $64,000 $24,000 66%


Orthopedic


Knee $25,000 $10,500 65%

Hip Replacement $28,000 $12,500 65%

Shoulder Replacement $24,500 $9,500 75%

Birmingham Resurfacing $24,000 $12,500 60%

Other Procedures


Gastric Bypass Surgery $30,000 $11,500 70%

Gastric Band Surgery $24,000 $9,500 60%

Hysterectomy $14,500 $5,500 75%

Fertility Treatments $8,500 $2,650 55%

Cosmetic Procedures


Face Lift $18,000 $4,250 68%

Breast Augmentation $7,800 $3,800 55%

Tummy Tuck $8,800 $4,500 50%

Liposuction (per area) $3,200 $1,150 60%

Rhinoplasty (nose) $8,000 $3,200 65%

Brow Lift $7,500 $2,850 70%

Brazilian Buttock $10,500 $4,950 65%

Neck Lift $10,000 $4,400 70%

Blepharoplasty (eyelids) $5,400 $2,950 55%

Dental Procedures


Implants - 6 teeth $18,500 $3,600 75%

Porcelain crown (6 teeth) $5,200 $1,600 70%

Bleaching discolored teeth $250 $50 80%

Dental Vaneers (6 teeth) $6,000 $1,800 75%

Total Dentures $4,800 $1,600 70%


Read! Debate! Introspect!Interesting reads for intellectual minds!

Success does not entirely depend on patients. The typical ratio of medical tourists to other travellers is about 50-50 at the hotel, which has 80 percent occupancy, Ms. Lopez-Blázquez said. But this spring, occupancy plummeted to 30 percent, she added, and almost all the guests had a Baptist connection

Published by New York Time (June 23, 2020)

In the Bangladesh market, TAT will continue to position and promote Thailand as a Muslim friendly destination and focus on medical tourist segments

Published by International Medical Travel Journal (August 24, 2020)

Marketing Ayurveda as part of the ‘health tourism’ has brought a new definition to vacationing in India itself

Published by Economic Times (April 17, 2016)

Medical identity theft can also be an issue. Some thieves steal records in order to receive medical treatment and charge it to insurance, or to gain access to sensitive information like social security numbers

Published by Medical Tourism Magazine

8www.sganalytics.com | Medical Tourism in USAwww.sganalytics.com

About SG AnalyticsSG Analytics is one of the leading research and analytics companies to offer of data-centric research and contextual analytics services. With its presence in the US, the UK, Switzerland, and India, SG Analytics offers research and analytics services its customers across the globe. Awarded the ‘Regional Best Employer’ by the World HRD Congress for straight three years – 2016, 2017, and 2018, SG Analytics’ collegial atmosphere and knowledge-based ecosystem help to consistently meet and exceed customer expectations.

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This document makes descriptive reference to trademarks that may be owned by others. The use of such trademarks herein is not an assertion of ownership of such trademarks by SG Analytics (SGA) and is not intended to represent or imply the existence of an association between SGA and the lawful owners of such trademarks. Information regarding third-party products, services, and organizations was obtained from publicly available sources, and SGA cannot confirm the accuracy or reliability of such sources or information. Its inclusion does not imply an endorsement by or of any third party.

Copyright © 2020 SG Analytics Pvt. Ltd.

Dr. Siddhartha Dutta, Practice Head, Pharmaceutical & Life Sciences Practice

Dr. Siddhartha Dutta has been working in the Healthcare industry for the last 21 years. He has been involved with clinical trials, medical research, planning, and various roles in public and private healthcare domains. Besides working as a medical microbiologist, he has worked extensively in markets such as USA, Western Europe, India, Australia, Japan, Singapore, South Korea, Indonesia and has helped OEMs, VCs, banks and pharmaceutical companies expand their businesses in USA, EU and LATAM markets. Dr Dutta is an avid blogger, writer and industry speaker. His market outlooks have been published by various business magazines for the last 5 years. He has been quoted in more than 70 publications worldwide.

Dr Dutta has tried to evaluate the global COVID-19 situation, and specially focused on the American businesses which might flourish or perish in these critical times. The whitepaper is relevant for all the healthcare industry stakeholders who supply medical devices or pharma products to the US market.

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medical tourism in the usa – it’s ok to be back!...medical tourism in usa | 3 medical tourism in...

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