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Have Coverage, Will Travel: Medical Tourism And The Value It Can Bring to Employer Benefit Design

Have Coverage, Will Travel: Medical Tourism And The Value It Can Bring to Employer Benefit Design. David Boucher, MPH, FACHE President and Chief Operating Officer August 7, 2010. Medical Tourism Vacation Independence Day, 2006. MY PERCEPTION.

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Have Coverage, Will Travel: Medical Tourism And The Value It Can Bring to Employer Benefit Design

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  1. Have Coverage, Will Travel: Medical Tourism And The Value It Can Bring to Employer Benefit Design David Boucher, MPH, FACHE President and Chief Operating Officer August 7, 2010

  2. Medical Tourism Vacation Independence Day, 2006 MY PERCEPTION

  3. Medical Tourism Vacation Independence Day, 2006 REALITY

  4. April 17, 2005 September 4, 2005

  5. Bumrungrad Has Not Gone Unnoticed……… SOURCE: American College of Healthcare Executives

  6. International Air Travelers Reporting Healthcare as a Purpose for Their Trip SOURCE: American College of Healthcare Executives

  7. Medical Tourist Estimates

  8. Projected Outbound Patient Flow

  9. “36 percent of Americans reported putting off needed medical care.” “Outbound medical tourism substantially reduced its growth in 2008-2009.” “However, this will likely resume sustainable growth in 2010…” Produced by the Deloitte Center for Health Solutions – October 16, 2009

  10. World Health Organization (WHO) Overall Ranking of It’s 191 Member States Rank 1 France 2 Italy 3 San Marino 4 Andorra 5 Malta 6 Singapore 7 Spain 8 Oman 9 Austria 10 Japan 37 United States * This performance assessment of health systems is based on many variables including socio-economic, political, and technological standards.

  11. The Perfect Storm…..

  12. Introducing: • A Network of JCI Accredited, Low Cost Hospitals in Overseas Locations • Concierge Travel Arrangements • Case Management • Aftercare Consultations • Related Medical Travel Insurance Products

  13. Companion Global Healthcare Network Blackrock Clinic Dublin, Ireland Klinikum Chemnitz, Germany Teknon Hospital, Barcelona, Spain Severance Hospital, Seoul, Korea Anadolu Medical Center Istanbul, Turkey CIMA Hospital, Hermosillo, Mexico Anadolu Dental Istanbul, Turkey Kent Hospital, Izmir, Turkey CIMA Hospital, Monterrey, Mexico Wockhardt Hosp, Bangalore & Mumbai India Bumrungrad International, Thailand HIMA Hospitals, Puerto Rico Min-Sheng Hospital, Taiwan Clinica Biblica Costa Rica CIMA Hospital Costa Rica Sime Darby Medical Center, KL, Malaysia Apollo Hosp, Delhi & Bangalore, India East Shore Hospital Singapore Prisma Dental Costa Rica Meza Dental Costa Rica Adult Dentistry of Costa Rica Mount Elizabeth Hospital Singapore Gleneagles Hospital Singapore Biodental Esthetics Costa Rica Raffles Hospital Singapore Albert Einstein Med Center, Sao Paulo, Brazil • All Hospitals are JCI-Accredited and Undergo an On-Site CGH Survey. • JCI is the International Arm of the JCAHO & is is Accredited by Int’l Society for Quality in Health Care (ISQua) • Companion Global Healthcare is an Organizational Member of ISQua

  14. Price Differentials Procedure Averages for Six Major Surgical Procedures 2010 CABG, Heart Valve Replacement, Vaginal Hysterectomy, Spinal Fusion, Total Hip & Total Knee Replacements

  15. Current Business Models • Directly With Employers • Through Health & Dental Insurers • For BCBS of SC Employees • All of these incent members to voluntarily travel abroad for surgery

  16. Impact of National Health Reform ? Physicians Exiting the U.S. Medicare Program The Medicare Payment Advisory Commission reported in 2008 that 28% of Medicare beneficiaries looking for a primary care physician had trouble finding one, up from 24% the year before. A 2008 survey by the Texas Medical Association found that only 38% of primary-care doctors in Texas took new Medicare patients. The percentage of physicians participating in Medicare has decreased consistently from 1990 to 2010.

  17. Companion Global Healthcare AFTERCARE SERVICES available through Doctors Care. Thomas E. Gibbons, MD Columbia, SC Steve Parks, MD Greenville, SC Ronald K. Reynolds, MD Myrtle Beach, SC

  18. Related Medical Travel Insurance Products • Reduced Cost Stop-Loss Insurance • Employer-Sponsored, Member-Centric Medical Travel Insurance • Employer E&O Coverage Specific to Benefit-Directed Medical Travel

  19. SUMMARY • Worldwide, Patients Travel More For Quality & Accessibility, While American Patients Travel Primarily For Cost • The International Medical Travel Market is in its Infancy Stage • The Growth Potential is Significant • Employers Are Willing To Change Their Benefit Plan Structure To Avail Their Employees to International Medical Care • Substantial Opportunity Exists in The Medical Travel Business Since MT Can Benefit Employees, Employers, and Payers

  20. Questions? David Boucher, President & COO Companion Global Healthcare David.Boucher@CompanionGroup.com 803-264-3256

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