By Steven Lash

As reported in the recent Financial Times article, “Travel Sickness,” the rising costs of healthcare in developed countries is having a positive effect on countries like Mexico, Thailand and India where medical care is available at a fraction of the cost. According to a recent report by Deloitte Center for Health Solutions, medical tourism is likely to expand at 35 percent a year by 2012. This means an economic boost and advanced infrastructure for developing countries.

The number of internationally accredited medical facilities is growing rapidly. There are now more than 200 international hospitals which have received accreditation by Joint Commission International, the international arm of the U.S. accreditation body for domestic hospitals in the U.S. Foreign governments are investing in world-class facilities to complement the influx of Western medical tourists and tourism bureaus are reaping the benefits of Westerners combining medical procedures with exotic vacations. Ideally, this will have a trickle down to improved health systems for those countries’ citizens, as stated in the Financial Times article.

International accreditation benefits everyone. It raises healthcare standards and increases competition, which raises the bar even in the public sector. In South Korea, for example, the government has launched a public-private initiative designed to do just this. The Council for Korea Medicine Overseas Promotion was established in 2007 to develop world-class healthcare infrastructure and to promote Korean healthcare to international patients.

Domestically, U.S. health insurers are buying into the growing trend of medical tourism, as well. Blue Cross of South Carolina, for example, has brought hospitals in Europe, Asia and Latin America into its network of coverage. State governments have also taken notice of the financial opportunities medical tourism provides. Although the bills have not yet passed, both West Virginia and Colorado have proposed legislation that would provide incentives to insurers that include medical tourism in their plans.

To make medical tourism a seamless, high-quality and convenient healthcare option for more and more U.S. patients, employers and payors, companies like Satori World Medical have entered the marketplace to offer a “one-stop-shop” for medical travel. Through such programs, all services and procedures for the patient are arranged by a reputable medical travel partner to ensure that all aspects of the patient’s care and travel are properly handled, from helping the individual select his or her surgeon and hospital abroad and transferring his or her medical records to the destination hospital, to handling all travel details, such as flights, hotel, ground transportation, etc.

Companies, such as Satori World Medical, also offer fully integrated medical travel plans that employers can add to their existing employee benefit offerings at no cost, whatsoever, because the savings are achieved through utilization. Additionally, with the Satori World Medical program, for instance, the participating patient directly receives a portion of the savings as well – anywhere from $5,000-$10,000 per procedure is deposited into an employer-funded Health Reimbursement Account (HRA). This offers everyone a compelling reason to participate in medical travel – the employer, payor and the individual receiving care.

As reinforced by this Financial Times article, as medical costs in mature markets continue to soar, medical tourism will continue to rapidly evolve in developed and developing nations, alike.