Affordability, Enjoy Savings as High as 70% on Quality Care
Why is Medical Tourism so Affordable?
Affordability is the engine that drives the boom in medical tourism. Certain of our provider countries have higher rated medical care than the United States according to the World Health Organization, W.H.O. Yet these countries boast a savings on procedures as high as 70%. Let us take Costa Rica as a prime example and help you understand why they are able to achieve such incredible savings. One of the main drivers of high healthcare costs in the United States has been the spiraling costs of malpractice insurance. An Obstetrician in Florida pays $200,000 dollars in insurance before being able to put dime one in his pocket. This does not even bring rent, equipment, nor staffing into account. One begins to see the reasoning behind the upward pressure on pricing. Malpractice insurance rates are in turn driven by a Tort system out of control that offers huge rewards for malpractice. Well the standards of judging what malpractice is remains quite different in Costa Rica. Malpractice is a crime in Costa Rica and one does not get a penalty that the insurance company pays up. Instead of going back to work after being accused of malpractice one goes directly to jail. These higher standards are an excellent structural incentive to provide quality care. It is a system that would do wonders if adopted by the large western countries.