By Conni Nelson, Satori World Medical

Faced with the unrelenting rising costs of healthcare in the U.S., affordable medical insurance remains a critical issue for millions of early retirees (ages 55 to 64) who are not yet eligible for Medicare benefits. Currently there are about 80 million baby boomers heading towards retirement, and an estimated 3.8 million early retirees and dependents that rely on their employer for some sort of health insurance.

But with medical costs increasing at staggering rates and more companies significantly scaling back on retiree health benefits, the status of employer-sponsored retiree medical coverage has become an issue of considerable concern.

In fact, according to Reuters, a recent study conducted by Fidelity Investments, the world’s largest mutual fund company since 2002, the amount retirees need to cover healthcare costs has risen 6 percent a year on average in the U.S. — about double the average U.S. inflation rate in that period.

In response to the rising costs of healthcare and loss of medical benefits into retirement, global healthcare benefit programs are becoming an intriguing option for more U.S. companies due to the enormous cost savings available on high-quality medical care in other countries around the world.

For instance, heart surgery in Singapore, Thailand, or Turkey costs anywhere from 40 to 80 percent less than in a U.S. hospital (including the costs of travel, hospital fees, etc. for the patient and a travel companion). Meanwhile, the quality of care delivered rivals many leading U.S. hospitals.

These hospitals are accredited by the Joint Commission International (JCI), the global arm of the organization that accredits U.S. hospitals. They have U.S./U.K. trained and Board Certified surgeons, medical staff that is fluent in English, state-of-the-art amenities, and the latest innovations in medical technology and techniques. Many of these hospitals even have direct affiliations with top U.S. hospitals and medical universities, such as Johns Hopkins, Harvard Medical and Tufts University School of Medicine, to name a few.

Many common procedures that early retirees need, such as orthopedic and cardiac procedures, are eligible for reimbursement from their employer via a tax-advantaged Health Reimbursement Account (HRA). These funds can then be used to cover the patient’s future medical expenses for years to come. Specifically, under Satori World Medical’s proprietary business model employers will fund a portion of the savings to their employees through a HRA and, as an added incentive, waive all out-of-pocket costs including co-pays and deductibles when an individual selects the Satori Global Network™ for their medical procedure.

As a result, not only does the employer and payor receive a financial benefit through dramatically reduced healthcare expenses, but the employee does as well. This offers early retirees a real and meaningful financial incentive to opt for receiving medical care outside the U.S. Meanwhile, there is no cost to the employer or plan sponsor to provide this benefit option to retirees as part of their existing employee health plan design.

As healthcare costs continue to escalate and more Americans are heading toward retirement, there is now more than ever a need for cost effective alternatives to delivering healthcare.    With high-quality healthcare available outside the U.S., thousands of dollars in out-of-pocket expenses that consumers can save and an economic benefit of $5,000-7,000 on the table to offset future expenses, medical travel is becoming a more attractive alternative for many Americans.

By Steven Lash, President & CEO, Satori World Medical

America’s crippling healthcare costs, coupled with the availability of high-quality medical care in other parts of the world at a fraction of the cost than in the U.S., are just a couple of the key factors fueling an increased national interest in medical tourism.

As the industry continues to mature, more U.S. employers are beginning to offer medical travel programs to their employees as part of their health insurance.  As President & CEO of Satori World Medical, the leading global healthcare company, I am often asked to provide insight into why every employer isn’t offering a medical travel program in their benefit plan design.  It is evident that there is high quality, cost effective health care available outside the U.S, however, common concerns over medical quality, patient safety and a general lack of understanding about medical travel and the differences that exist among the various facilitators, seem to be challenges to widespread adoption. That of course then raises the question:  How are these challenges overcome? So, let’s explore each of these specific concerns, and their possible solutions.

Medical quality and the lack of universal quality standards in place for medical travel:  There are well-respected regulatory agencies around the world, such as Joint Commission International (JCI), established to ensure high-quality standards in medical care at international hospitals. However, medical travel companies and international hospitals are not actually required to meet any specific universal set of quality guidelines. So how does one ensure the quality of care for a patient undergoing surgery in a foreign hospital? Well the answer to that question is to be well informed about the specific quality assurance programs that different medical travel companies offer.  Only participate in a global healthcare program that SOLELY contracts with JCI-accredited hospitals, conducts regular on-site due diligence visits to every international hospital within its network, and has a full-time Chief Medical Officer on staff that is a Board Certified surgeon.

Lenient malpractice laws in some foreign countries and financial protection if something goes wrong: Another common concern among patients considering medical travel is built-in protection from an unforeseen health complication that might take place while they are traveling or receiving care in a foreign hospital. Patients should protect themselves from such risks by 1) participating in a program like Satori World Medical, which follows the same quality standards as today’s leading domestic health networks and 2) verifying that the company offers a comprehensive personal accident insurance policy in the unlikely event that something goes wrong.

The stresses and safety of international travel and long flights: Patients also commonly fear the stresses and health issues that can occur when traveling to foreign countries or taking long flights. Patients can avoid this problem by choosing a medical travel company or program that does all of the planning and legwork. A couple of important questions to ask include:

-   Does the company offer a comprehensive, preliminary medical screening of all patients to assess their overall health and determine whether they are eligible candidates for medical travel? If so, what does that process entail?

-   What are the types and levels of services provided to ensure a comfortable and safe medical travel experience? For instance, only work with a company that handles all details for patients and their travel companion, such as making flight reservations and hotel accommodations, arranging ground transfers to/from the airport, etc. Also, inquire about whether the program covers the cost of a travel companion. Travel companions are important to helping medical travel patients feel safe and comfortable.

When it comes to all matters of healthcare, knowledge is the key to success. While there are certainly understandable concerns surrounding medical travel, with the right information and decisions, medical tourism can be an extremely safe and viable cost-saving option for many U.S. companies.

By Jessica Yarbrough, Marketing & Communications Manager
Satori World Medical

More and more American consumers are seeking high-quality healthcare outside the U.S. in order to dramatically reduce their medical expenses on certain high-cost surgical procedures.  This trend, most commonly referred to as medical travel or medical tourism, has also propelled a national interest among U.S. employers seeking innovative ways to reduce their employee healthcare costs.  By including a global healthcare benefit option, employers can save 40-80% on high-cost surgical procedures.  The savings are so dramatic that the employer or financial sponsor will waive any out-of-pocket expenses for the employee receiving care.  For many Americas, medical travel is an appealing and cost-effective option to receiving care.  But what items should consumers look for when considering a medical travel company?

• Quality Assurance: While high-quality care is available at many hospitals around the world, not all medical travel programs offer the same level of quality. Therefore, it is important to be familiar with all aspects of the company’s quality assurance program. For instance, as a baseline, choose a medical travel company that only contracts with international hospitals accredited by Joint Commission International (JCI), an arm of the U.S. hospital-accrediting body, the Joint Commission on Accreditation of Healthcare Organizations (JCAHO).   JCI sets over 350 standards of excellence for international hospitals to meet that ensure the quality and safety of patient care.
• Out-of-Pocket Costs: Not every medical travel program is all-inclusive. Therefore, it is essential to understand what is included in the cost of your care.  For example, does the cost include roundtrip airfare and hotel accommodations?  What about travel costs for a companion?  Are there any out-of-pocket costs such as deductibles or co-pays that you may incur?
• Current Coverage: There are now medical travel programs available to U.S. employers, which can be easily added as a benefit option to their employees’ existing health plan.   Many programs can be added without any recurring cost or network access fee to the employer.  Ask your HR manager or benefits advisor if this is a covered benefit.  If you don’t already have a medical travel/global benefit option, ask about adding one to your company’s benefit plan design.  
• Patient Support Systems: Making the decision to receive surgery outside of the U.S. can be a challenging decision, therefore, it is important to work with a medical travel company that has a strong patient advocacy and support program in place. Specific attributes to look for include access to registered nurses who can guide you through the process in coordinating your care, facilitating your medical record transfer and scheduling your follow-up care with your U.S. physician.

By Jessica Yarbrough, Marketing & Communications Manager, Satori World Medical

Year after year, U.S. employers continue to face double-digit rate increases on health insurance premiums.  Since 2000, the majority of employers have seen costs increase 100 percent or more in order to offer their employees a comprehensive medical plan.  Their increases are not linked to new coverage or benefits, just renewals.

What new strategy can be implemented to help reduce plan sponsor cost without increasing employees’ out-of- pocket expenses or restricting access to quality providers of their choice?

Medical tourism or medical travel, whereby U.S. patients travel outside the U.S. to receive quality medical care at a fraction of the cost, is a benefit strategy that employers are using to achieve lower claim costs on a medical plan, provide additional choice of providers, and engage and reward consumerism within the scope of their existing medical benefit plan.

The key word is choice.  Plan sponsors now offer their employees a choice of domestic network providers and networks provide plan sponsors with discounts of 20-40 percent off providers’ “retail” prices. The benefit plan provides incentives to use lower-cost participating network medical providers over often more expensive, non-participating medical providers.

Satori World Medical, a global health care company specializing in the medical travel space, offers an all-inclusive plan that waives all the out-of-pocket expenses for the employee when choosing a Satori Global Network™ hospital and physician.  Additionally, using a proprietary model, Satori World Medical helps clients design a shared savings feature whereby the employer would share a portion of the $30,000 to $75,000 savings for their surgical procedure through a Health Reimbursement Account (HRA) contribution to the employee.  The HRA is tax-free to the employee and tax-deductible to the employer.  On average, the total cost savings of participating in Satori World Medical’s global health care network are as much as 40-80 percent per procedure, which is extremely compelling.  Additionally, medical travel programs, like Satori, can be offered as an additional benefit to any existing health plan design, and does not replace any domestic provider choice.

Of course employees are only going to travel abroad for medical care if the quality of care is comparable or better than in the U.S.  The global economy has grown, and as a result, competition to provide the best possible health care services, has also grown.  Just as high-quality products and technologies are produced across the globe, and organizations purchase various goods and services from international companies based on price and quality, so too are a number of high quality hospitals and physicians and medical services now available globally.

Companies like Satori World Medical, which specialize in medical tourism, are now making it easier for employers and payors to embrace global health care programs because they have already built the infrastructure, performed the due diligence, and provided contracts that can be supported by U.S. third -party payors.

With the cost of healthcare and health insurance premiums being higher than in any other nation in the world, it is the right time to embrace innovative, cost-saving alternatives like medical tourism. As the industry emerges, we see that the interest in global health care among American companies will continue to grow significantly.

By Steven Lash, President & CEO of Satori World Medical

This week, Satori World Medical had the privilege of announcing that esteemed medical travel industry expert and author, Josef D. Woodman, has joined the company’s Strategic Advisory Board (SAB). The counsel provided by Woodman and other key members of Satori World Medical’s SAB and Medical Quality Advisory Board, will ensure that our company continuously achieves the highest industry-wide standards in medical quality and sophisticated business strategy.

Recognized for authoring the first comprehensive, easy-to-understand guide to medical tourism, “Patients Beyond Borders,” Woodman has spent more than three years touring 100 medical facilities in 14 countries and researching contemporary medical tourism. As co-founder of MyDailyHealth and Ventana Communications, Woodman’s pioneering background in health, wellness, and Web technology, has allowed him to compile a wealth of information about global health travel, telemedicine, and new developments in consumer and institutional medical care.

A noted consumer advocate for the globalization of health care, Woodman has also lectured at the Harvard Medical School and the UCLA School of Public Health and has hosted more than a dozen seminars and workshops around the world on the topics of medical tourism and health travel.

According to Woodman, “Satori World Medical is one of the best global health care programs that I have seen. I am particularly impressed with Satori’s Quality Assurance Program™ and its unique financial sharing model, which provides a measurable shared economic incentive for all program participants. Satori’s business model is well poised for growth over the next several years and for forging new strategies in addressing globalized health care. I look forward to being a part of its success.”

Through its global network of Board Certified doctors practicing at state-of-the-art Joint Commission International (JCI)-accredited hospitals, Satori World Medical offers a comprehensive, high–quality, integrated medical benefit program that reduces the costs of surgical procedures by an average of 40-80 percent when compared to the same procedures performed in a U.S. hospital.

Having Josef Woodman join our SAB is such a tremendous honor for our company and a testament to the strength and viability of our program. His extensive hands-on experience with the consumer side of health care will help strengthen key relationships among patients, international providers and insurers. His added expertise is invaluable in enabling our company to deliver high quality, affordable, and practical global health care solutions to payors, employers and their employees, nationwide.