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U.S. & International Medical Tourism University of California - Irvine. PRESENTED BY Victor Lazzaro, Jr., CEO Feb. 2009. Presentation Overview. Medical Travel a.k.a Medical Tourism. Medical Travel 2008 Trends and Outlook Impact on HealthCare in the US . Medical Travel History.
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U.S. & International Medical Tourism University of California - Irvine PRESENTED BY Victor Lazzaro, Jr., CEO Feb. 2009
PresentationOverview Medical Travel a.k.a Medical Tourism • Medical Travel 2008 • Trends and Outlook • Impact on HealthCare in the US
Medical Travel History How & Why did it begin?
Market Facts • 500,000 Americans crossed the border for treatment in 2005. National Center for Policy Analysis (NCPA) • 500,000 – 700,000 patients a year and savings on the order of $20 billion. McKinsey Report 2008 • Cost Advantage for Medical Tourism is 28-88%.Deloitte Center for Health Solutions
Benefits of Medical Travel • Significant Savings • High Quality • Transparent Costs • Complements Consumerism
Medical Travel challenges • Quality of institutions • After care coordination • Malpractice
Accreditation • Joint Commission International, based in the U.S., is a division of Joint Commission Resources (JCR) and a subsidiary of the Joint Commission designed to improve and regulate the quality and safety of healthcare services. • About 200 and growing foreign hospitals now accredited
BridgeHealthInternational Centers of Excellence U.S. & International Locations • Brazil • China • Costa Rica • Hong Kong • India • Mexico • New Zealand • Puerto Rico • Panama • Singapore • South Korea • Taiwan • Thailand • Turkey • U.S. Additional locations in Europe and elsewhere are under evaluation.
Medical & Dental Procedures • Cardiology • Cardiothoracic • CyberKnife® (cancer) • Dental • Detox/Rehab • ENT • Executive Health Physicals • Gastroenterology • General Surgery • Gynecology • Infertility • Internal Medicine • Neurosurgery • Oncology (selective) • Ophthalmology • Orthopedics • Pain Management • Pediatrics • Plastic andReconstructive Surgery • Urology Male/Female • Vascular • Weight Loss/Obesity Surgery
Care Coordination • Consultation with Travel Care Coordinators • HIPAA compliant, including medical records • Coordination of pre-travel communications are made for client to host country hospital and physician • After care needs can be coordinated • Client outcomes are tracked and monitored
All-Inclusive Transparent Pricing Plan Which Includes: • Surgery/procedure costs • Airfare • Lodging • Transfers • 24/7 Concierge Service
Sample Benefit Design & Savings • HYPOTHETICAL COMPANY EXAMPLE: • CURRENT INT’L INN • INN BENEFIT • SAVINGS to Employer* 0 $41,000 • DEDUCTIBLE $1,000 WAIVED • COINSURANCE 80/20 WAIVED • MAX. OUT OF POCKET $5,000 WAIVED • ADD’L BENEFITS: • TRAVEL INCENTIVE N/A $3,000 • Travel costs, air & hotel N/A $4,000 • Partner air N/A $2,000 • Hip replacement done in Asia: U.S. cost ~ $50k, Int’l cost ~$9,000Cost to the Employer: $14,000 ($5k OOP, + $9k incentives & costs) • Net Savings to Employer: $27,000. • A Domestic Network would yield savings in between.
Who is interested • Brokers & Consultants • Insurance Companies • Union trust funds • ASOs • Self-insured companies • TPAs • Reinsurers • Individuals
Ideal for • Self Insured Plans • Fully Insured for uncovered benefits • Dental Care • Cosmetic • Bariatric Surgery • Infertility • Limited Benefit Plans • Procedures not available in U.S - Stem Cell • Timely access to care - Canada & UK wait times
Opportunity • The American healthcare system has become so expensive that companies are dropping coverage. • Healthcare is virtually unaffordable for those without insurance. • American businesses are increasingly unable to compete in a global marketplace due to high costs of health insurance. • The declining current world economies
Medical Travel Forecast • Reduce corporate costs • Reduce employee costs • Sustain or increase benefits • Offer a new innovative service • More U.S. competition & transparency
Contact Information www.BridgeHealthInternational.comThe Trusted Bridge to World-Class Healthcare Cade Ross, Account ExecutiveCRoss@BridgeHealthInternational.com O: 303.457.5770 C: 720.231.8780 Víctor Lazzaro, Jr., CEOVLazzaro@BridgeHealthInternational.com O: 303.457.5725 C: 303.358.0300