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Transcript of Global Post’s What Obama’s Affordable Care Act Means for the World’s Hospitals by Matt ...
Global Post’s
What Obama’s Affordable Care Act Means for the World’s Hospitals
by Matt Levin
Chelsea Swanhorst
Background
Medical Tourism: – People who live in one
country travel to another country to receive medical, dental, and surgical care…and are traveling for medical care because of affordability, better access to care or a higher level of quality care. *
– Thrives on uninsured US citizens
* Medical Tourism Association
Background
The Affordable Care Act– 2014 all US citizens are required to have
health insurance– Affordable Insurance Exchange– Citizens may opt out for a feeAffordable Care Act Fees
Year Price Per Adult Price Per Child
2014 $95 $47.50
2015 $325 $162.50
2016 $695 $347.50
Healthcare.gov
Article Summary: What Obama’s Affordable Care Act Means for the World’s Hospitals
3 Main Ways Obamacare Affects the Medical Tourism Industry1. May hurt the industry2. Big changes in America’s healthcare: doctor shortages,
longer hospital waits, and insurance company extending coverage
3. Paying fee may be cheaper
My Opinion4. Americans will be unhappy with outsourcing
healthcare5. Lack of confidence in Costa Rica’s healthcare
institutions
Outsourcing Healthcare
Surgeons and physicians in Costa Rica are educated in the US
US citizens travel to Costa Rica to receive this care
Each country has a comparative advantage
Worldbank
Costa Rica’s life expectancy 79.2 (2010) US’s life expectancy was 78.2 (2010)
Healthcare in Costa Rica: Life Expectancy Rate
Healthcare in Costa Rica: Confidence Level
No official regulatory body overseeing the medical tourism industry
American Medical Association has guidelines*
Joint Commission International, JCI** Accredited two hospitals in Costa Rica
Post-op resorts pick up patients from airport and provides transportation to the patient and family
* www.ama-assn.org/ama1/pub/upload/mm/31/medicaltourism.pdf**www.jointcommissioninternational.org/JCI-Accredited-Organizations/
Non-Tariff Barriers Pros of regulation:
Increases confidence Increases higher education,
medical tourism, and other industries through the roundabout way
Cons of too much regulation: Promotes inefficiencies Creates obstacles for
patients Hurts higher education,
medical tourism, and other industries through the roundabout way
Procedures
Obamacare will not affect dental work, elective surgeries, & operations not offered in the US
These procedures are most common in Costa Rica Emergency surgeries can’t be performed
internationally
International Patients
English
Prices
Medical Procedure USA Costa Rica
Heart Bypass $144,000 $25,000
Knee Replacement $50,000 $12,500
Face Lift $15,000 $5,700
Liposuction $9,000 $3,900
www.medicaltourism.com/en/compare-costs.html
Benefits to Costa Rica’s Economy
American patients stay longer and spend six times as much money versus American tourists Family comes before procedure Family stays to help recovery
Benefits to Costa Rica’s Economy
Promed, medical tourism agents 67% of Costa Rica’s GDP is commerce,
tourism, and services* Tourism needs to be a sustainable industry
*www.state.gov/r/pa/ei/bgn/2019.htm
My Conclusion
Not just a fadUS isn’t competitive in healthcare industry
US healthcare industry cannot be completely eliminated
Benefits developing countriesNon-tariff barriers are largest threatRegulations are necessary
Questions?