Philippines Medical Tourism Summit Sounds Optimistic Note

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Summit to Boost Philippines Medical Tourism

The Philippines is looking at increased revenues from its medical tourism industry in the wake of the recent financial crisis in the US.  Industry experts believe that the crisis, which has had most of its impact centered in the US, will be nothing but good news for the country's many JCI accredited hospitals.  These sentiments were expressed at the Heath and Wellness in the Heart of Asia summit held in Manila recently.  According to healthcare law expert, Scott A. Edelstein, the US is set to see its healthcare costs rise as a recession pushes more people out of reach of the already exorbitant treatments costs in the US.  This could actually spell a huge opportunity for countries like the Philippines, which could step in with their well established medical tourism industry to meet this burgeoning demand for affordable healthcare.

According to Edelstein, the number of uninsured Americans – that is those without access to heath insurance – is close to 50 million, while the number of underinsured, or those who do not have adequate insurance for their healthcare needs, is around 30 million.  That forms a hefty segment of the population who have no way to pay for an expensive procedure, should the need arise.

Cosmetic Surgery Procedures

The industry seems quite confident about the positive effects of the US recession on medical tourism in the country.  However, when it comes to elective cosmetic surgery procedures, the feelings are mixed.  With the daunting possibility of pink slips and ever-rising living costs now on everyone's mind, Americans may or may not be encouraged to visit foreign countries for a face lift or other cosmetic procedures, even with the lowered costs of hair transplant surgery, liposuction, or arm lift surgery in the Philippines.  The booming Philippines cosmetic surgery industry might see a dip in revenues, but these are not believed to have the potential to affect the overall medical tourism sector too much. 

 

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