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DESTINATION MEDICINE BUSINESS JOURNAL
Executive Journal for Medical & Travel Destinations

2009/09/30



Vol. 09 Issue 8

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Featured Interview's:

D. Hom Article - v9.i1

D.Boucher Article - v9.i2

S.Domaszewicz Article - v9.i3

vahe & Warren Article -V9.14Boucher Article - v9.i4

Janet walker & Kelly meloche - v9 i5

Rolando D. Rodriguez

Elaine Cheong & Dato’ Dr. Jacob Thomas






Interview Spotlight

Competitive Issues In The Global Healthcare Market. An Exclusive Interview with John C. Goodman

John C. Goodman founded the NCPA in 1983 and has served as President and CEO since the center's inception. The Wall Street Journal called Dr. Goodman "The Father of Health Savings Accounts," and is known for his ideas on ways to transfer power from government to the people.

1) John, in November, 2007 the Center published a paper on Medical Tourism, Medical Tourism: Global Competition in Healthcare. Do you have a sense of how the U.S. market for medical travel and medical tourism has developed over that two-year period?

John Goodman: yes I think we are in the very very early stages of what could amount to an explosion in traffic across border to get medical care. Every major health insurer in the U.S. is looking at ways to take advantage of lower cost, high quality care across the border.  Most of the attention has been given to hospitals in Thailand, Singapore and India. These hospitals are quite good and they are competing internationally and I expect the Americans will choose these (or other) markets more relative to the prices and quality of care available.

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John C. Goodman to speak at The Medical Travel Conference of the Americas and The National Workforce Health Economics Summit : 9:15am—10:00am on Wednesday November 11th , 2009 Keynote 2.01 A Call to Action: The Economic Healthcare Outlook and Our Likely Future with Current Legislation Underway

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John C. Goodman President
National Center for Policy Analysis


Industry News:

Compare and Contrast the Australian Health System with the UK NHS and US System

The media continues to highlight the UK's National Health Service (NHS) in the health care reform debate. In a previous post, Compare and contrast the NHS with the US Health System, we highlighted our observations of the NHS. Sg2's global work has given us valuable insights into other health care systems that may provide a less radical perspective in the health care reform debate. In particular, Australia may have elements of health care provision that some Americans are worried will be lost with reform, including patient choice and provider autonomy in service provision.

 

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Academic Centers Push to Improve Global Health

Boston University has announced a $10 million global health investment as it launches its Center for Global Health and Development that is designed to bolster research and education to improve health in developing countries.

The CGHD is a team of clinicians, social scientists, and economists based at BU's School of Public Health "that strives to improve health and quality of life of people throughout the developing world by conducting applied research that treats health as a medical social development and economic issue," according to the CGHD Web site.

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South Korea Boosting Medical Tourism

Korea’s local governments build health care clusters to attract foreign patients

The South Korean government announced medical tourism as one of its 17 next-generation growth engines. It set the goal to create a medical tourism boom following countries such as Thailand, Singapore and India. Following suit, local governments including Jeju Island plan to build health care clusters for medical tourism to attract foreign patients. Last year, South Korea earned about US$48 million from medical tourism, attracting 40,000 foreign patients.

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MoBay: Potential health tourism centre

The international accounting and consulting firm, Deloitte, estimates that 1.6 million American patients will travel to other countries in 2010 for medical care and treatment, doubling the numbers who travelled in 2007.

Globally, the industry is estimated to generate around US$20 billion per year, and by 2010 it is expected to more than double this amount of revenue. Americans, Canadians and Europeans compose the bulk of all medical tourists, likely due to the costs of surgery in their countries, said the experts in the market, Discover Medical Tourism.

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Well-positioned for upturn

SINGAPORE'S healthcare system is well-positioned to capture the upturn in medical tourism when the region recovers from the economic downturn, Health Minister Khaw Boon Wan said in Parliament on Monday.

Besides having a competent healthcare system, with world-class facilities and a well-deserved reputation for high medical and ethical standards, he said efforts to expand the capacity and raise the capabilities of healthcare services are continuing.

Despite the economic slowdown, Singapore had to turn away foreign patients last year because the 'market was bigger than we can cope,' said Mr Khaw, responding to questions from MPs.

 

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Leisurely healing

Can Arab countries take the low cost healthcare tourism model practised at the Royal Bangkok Hospital and give it the luxury treatment? There’s certainly a potential market for it.

There’s something strange about visiting the Royal Bangkok Hospital in the capital of Thailand. Basically, it doesn’t feel like a hospital, or even smell like one. More like a trip to the Four Seasons Hotel.

“That’s part of the plan,” says the hospital’s CEO Dr Chatree Duangnet.

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Visa card boosts medical tourism

In the latest example of how South Florida is becoming an international destination for health care, the Bank of the Bahamas announced a new Visa card that allows Bahamians 30 percent to 60 percent discounts at seven South Florida hospitals.

The card, which was in development for two years, is “designed to provide as many persons as possible with access to affordable health care,” said bank executive Vaughn Delaney in a telephone interview.

Many South Florida health-care facilities have been pushing medical tourism as a way of increasing business, particularly during the recession.

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Croatian medical tourism trend highlighted

Medical tourism has become very popular in recent years and Croatia is one of the destinations people are heading to.

MSNBC has highlighted the growing trend for people getting discounted medical treatments abroad, with dentistry among the popular options.

Read More...


ABOUT US
Destination Medicine Business Journal (DMBJ)

DMBJ is the most comprehensive executive journal for the most up to date international medical procedures, destinations and related travel. DMBJ provides for and encourages input and dialogue among readers and draws on the expert opinions of hundreds of national and international health care, business, and policy thought leaders who comprise the Advisory Boards and Faculties of The Health Care Globalization Summit, The National Workplace Health Economics Summit and The Healthcare Innovations Capital Connections Summit.

DMBJ is published bi-monthly, under the auspices of our Editorial Committee with featured articles and interviews about the issues that are today, or soon will be, important to you and your organization and all health care stakeholder sectors including employers, health plans, TPAs, and U.S. and international providers and facilitators.

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