globalization of health care

3318 words 14 pages
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The name and its beauty 3
How does this name relates to International Business? 4
1. A decade ago the idea that medical procedures might move offshore was unthinkable. Today it is a reality. What trends have facilitated this process? 5
The relentless development of technology 5
The cost advantage 6
Others 6
2. Is the globalization of health care good or bad for patients? 7
Positive impacts 7
Negative impacts 8
3. Is the globalization of health care good or bad for American Economy? 10
Impatient 10
Behind the mask 11
…show more content…

Some typical examples are India, Thailand, …

The cost advantage
Although technological advance plays an important role in bringing about the overseas medical treatment, still the strongest driving force that facilitated the globalization of health care is the cost. In developed countries such as the US, the expenses are far greater than that of those provided in less developed or developing countries. This alone has persuaded a large amount of patients to find treatment elsewhere. In fact, it also gave birth to a new trend which is called “medical tourism”, wherein patients would visit a foreign land to receive complex, sophisticated and often serious medical or surgical care. Following the treatment the “tourist” can experience personal medical attention in a luxurious setting with first class accommodation and subsequently has the chance to enjoy vacation for a short time before going back home.

Howard Staab is an ideal example for this cost advantage. Mr. Staab underwent a leaking heart valve surgery in New Delhi and toured the Taj Mahah afterward with the total price of $10.000, which is a lot cheaper than the $60.000 cost alone for the operation cost in the US, without the visit to the Taj Mahal.

Besides the two main drivers mentioned above, there are some other factors involving in the decision – making of the consumers in this overseas health care services. Some


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