09 February 2010

Top medical tourism destinations familiar to Americans

In something of a surprise, a country very familiar to North Americans has emerged among the top five destinations for medical tourism, which is expected to leap to a $120 billion industry as early as 2012.

"Panama offers significantly lower costs for medical procedures just south of the US border. Costs, on average, are 40 to 70 percent lower than costs of similar surgeries in the US," according to a report on medical tourism published by the National Center for Policy Analysis.

Although costs for medical procedures are generally higher compared to those of Southeast Asian countries, travel costs from the US to Panama are considerably lower, the report says.

"Panama is a relatively ‘Americanized’ country and an attractive place for both regular tourists and medical tourists to visit. Panama City is a relatively safe and modern destination; the US dollar is the country’s official currency, and many of the physicians are US-trained," the report found.

Medical tourism destinations have emerged all over the globe, from Thailand to South Africa, and even European countries such as Hungary.

NuWire’s other Top 5 Medical Destinations, which provide attractive opportunities for foreign investors as well as medical tourists, include:

Ã¯Æ’Ëœ Brazil, which has become an international Mecca for cosmetic and plastic surgeries, but also other medical procedures as well.

Ã¯Æ’Ëœ Malaysia’s "medical tourism industry has seen staggering growth over recent years," the report says. "The number of foreigners seeking healthcare services in Malaysia has grown from 75,210 patients in 2001 to 296,687 patients in 2006," according to the Association of Private Hospitals Malaysia.

Ã¯Æ’Ëœ Costa Rica, similar to Panama, has become a popular destination among North American patients for inexpensive, high-quality medical care "without a trans-Pacific flight," say experts. The convenience of travel has made the country a particularly attractive destination for American patients.

Ã¯Æ’Ëœ India may have the lowest cost and highest quality of all medical tourism destinations, says a report by the National Center for Policy Analysis.

By David Wilkening