Despite the pandemic and inflation, the medical tourism industry is booming. Here’s why.

Medical tourism has existed since the dawn of civilization, with records of people from Roman times visiting countries such as Turkey and Switzerland to access hot volcanic waters for healing purposes.

The modern equivalent has been driven primarily by access to information on the internet.

Patients scour the web for treatments on foreign shores — ranging from heart operations to cosmetic procedures — typically at a higher quality and lower cost compared to what is offered in their home countries.

Chris Pochiba is a social media influencer who traveled to South Korea for laser eye surgery in 2022. His wife, Sara Aho, explained why they chose South Korea, instead of other destinations.

“A lot of countries in the world have the same technology. But Korea is known for being very high tech, it’s very clean, very hygienic, very professional, and a little bit familiar,” Aho said.

Indeed, more Americans are opting to seek treatment in the likes of Mexico, Costa Rica, India and Thailand, where their average cost savings are in the range of 45% to 90%.

The Covid-19 pandemic, however, halted international travel — and, by extension, patient inflows — disrupting what was at the time a booming industry worth more than $70 billion.

But it wasn’t all doom and gloom.

“We came back with less people, made more revenue than 2019, last year of 2022,” Paul McTaggart, CEO and founder of medical travel agency Medical Departures, told CNBC.

Paul added: “As you’re seeing inflation at the pump, at the grocery store, you’re also seeing it at the hospital. The price of medicine and dental care has gone up and we’ve been a benefactor of that.”

So is this rapid growth sustainable? And are there pitfalls that individuals considering this route should be wary of? Watch the video above to find out more.

#CNBC #MedicalTourism #Healthcare

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[axnyslie]

I was in India this year and hospitalized with dysentery. It cost me a whopping $300. It would have been 10 times that amount in the US. It is laughably absurd when people spout the great lie of America having the best healthcare in the world. Not by a long shot.

[nicholasgallanis]

It is not like America has 1, 000 times better medication or better doctors, but we pay like we do, cause in America someone NEEDS to get rich when you are sick!

[adilusa]

A friend of mine was suffering from hard to breath symptoms due to some complications in his nose. He visited many American doctors that couldn't figure out what's wrong until he found a doctor that came from Finland and she practices in New Jersey. She told my friend what's wrong with his nose as soon as she took a look and said he needs a small laser surgery. Couple weeks later he went through it and now he doesn't have any problems.

[RajKumar-qgiv]

In India, you can get the lasik done around $500 itself

[MrHarry]

I have been scammed by my insurance in the US. Healthcare cost is ridiculous in this place 😢

[anubhav]

they didn't show india once even though india has the largest number of medical tourists and probably is the cheapest alternative out there

[emotionalIntelligence]

Saw a video once on 85 parameters tests from MRI to lungs strenth and whatever one could imagine. It was just around 50$ in Bengaluru, India. That US citizen said, these tests would cost him 50k $ easily in the US. Noreover not in one day integrated under one roof. Issurance is apparently an issue there in the US!

[shieksvd]

had a choice to treat my blocked arteries with treatment in the west for 35k usd or get it done in india for $2500.00 took the latter of course. meds also were 90% cheaper so now i go yearly for a check up and pick up my meds for a year for around 500 usd. 3 stents and meds 3000.00 usd.

[michaelashby]

The US medical system is one of the worst in the developed world and is rapidly declining. And if you consider the cost, its probably the worst in the world. I'm caring for my elderly parents and its shocking how poor the quality of care is. And my parents have money and kids helping them. If you don't have money and family, you are doomed in the US. And there is NO effort to even reform any of what is broken in the US. None. The whole system needs to be reformed. But there is so much money in it, its not possible.

[SamanthaTheAstrologer]

My in-laws are Salvadoran and my mother in law has been going back to El Salvador to visit family and get medical care for her knee and other issues that she could never afford in the US but can get at a better cost in El Salvador.

[KiranMachiraju]

In India mostly Medical Tourists come to Chennai, or Mumbai and get their treatments done and then relax for few days in Chennai itself or visit Goa and then leave all happy.

[gexpert]

"for financial reasons"
Dont dance around the bush. The reason is because healthcare in the usa would leave you broke... And that's just for the bed

[_UU]

Medical tourism is much needed since American healthcare is a total failure. I visited hospitals in UAE, Turkey and Poland - every one of them was better and much cheaper. Doctors are much easier to access, wait time is shorter.

[edilee]

"US hAs ThE BeSt HeLtHcArE" And how's that working out for the average person? I'll answer as an uninsured average person, pretty badly..

[soudipsanyal]

I had my lasik done in less than 1k USD & my mother got her knee replaced under 2k USD in India just last year.

[Jean-niof]

Went to Costa Rica for cosmetic surgery thirty years ago. The results and care were wonderful and I wouldn't have a second thought about doing it again. I may be to old today. But, the hospital out shined any hospital I've ever seen in the U.S. Care, food and results could not matched. Cost too was very reasonable. Very. Treated beautifully.

[JackoNorm]

Seeing stuff like this makes me extremely glad to live in a country with an functional healthcare system, not the USA. I've had 3 free x-rays this year when I broke my arm, for instance. Came in handy, since I couldn't work at the time (for obvious reasons). I really feel sorry for you guys, but you don't even seem to want a universal healthcare system.

[GravaticBurst]

When they start giving you $1, 000 bill just for sitting in the waiting room, the American health system is the problem.

[bruce]

I'm traveling and just got a MRI scan with contrast in Kuala Lumpur Malaysia. It cost almost $400 all out of pocket. Also had a MRI scan back in 2020 in US, the hospital tried to charge about $10, 000 but my insurance negotiated it down to $7, 000 I think, don't remember the details.

[chapelknight]

5:00 That delay is largely in the NHS, and it's worsening slow downs as of late. It's pushing a lot of people into going for private healthcare, unfortunately.