Medical tourism attracts NRI's attention to save costs

Bangalore: Soaring medical cost in countries like U.S. has made India the next prominent destination for medical tourism . Millions of NRI plan their medical treatment and surgeries in India to get treated by lower healthcare costs available and at the same time enjoy their recuperative holidays across India. 

Medical tourism is a highly expanding sector in India and is expected to experience an annual growth rate of 3O percent, making it a  9,500-crore industry by 2015. NRI's are finding the prospect of international travel for medical care increasingly appealing. With medical tourism one can mix health with pleasure trips just as businessmen merges business with pleasure.

It is estimated that around 150,000 of people travel to India for low-priced healthcare procedures every year. In the year 2008 a survey was conducted by the Associated Chambers of Commerce and Industry of India (Assocham) where it estimated that India is set to earn 80 billion ($1.87 billion) a year in foreign exchange from medical tourism by 2012 and looking at the current influx of NRI coming to India for medical tourism it seems to hold true.

Medical tourism seems to be a superior option for people staying abroad, who are not insured as there is a very high cost of difference in the medical facilities offered in India and abroad. There are also considerable delays in getting treatment in some western countries due to financial and hospital backlogs of patients waiting for medical procedures. In the UK every medical treatment has to be routed via the NHS (National Health Service). Hence one treatment has every chance of getting delayed.

India and Thailand are the two countries who definitely have an edge over its counterparts both in terms of the number of hospitals and the cost advantage. Among the cities, its Delhi who receives highest number of medical tourists as it has better air connectivity; this is followed by Chennai and Hyderabad.

Insurance companies in the United States are now examining the concept of medical tourism and some medical insurance companies are giving their insurer the option of getting medical procedures done abroad. The insurance companies can see the cost savings and no doubt will offer incentives to their insurer to agree to medical procedures abroad since Insurance companies can also save money. Costs of comparable medical procedures in countries like India are far cheaper than western countries even after adding the costs of airfare and accommodation. Hospitals in India sometimes also provide help with visas, travel arrangements and accommodations.

So identify the city and the hospital depending upon the availability of the treatment, the cost and the success rate and also do not forget to check the credentials of the hospital and consultants.