South Korea: a New Destination in Medical Vacation

Medical Vacation in South Korea  

One of the most profitable and booming businesses in Asia is that of medical tourism, and South Korea has made its initial foray into this lucrative market by launching the Council for Korea Medicine Overseas Promotion.  Funded by the Government and 28 private hospitals, this organization will market medical packages to foreign patients seeking affordable health care.  The Council has initiated a set of measures to promote the medical vacation industry by aiding hospitals in their marketing strategies.  In this way, South Korea can generate greater overseas awareness of the country’s medical and tourism offerings.  Initially the organization intends to cater to the 440,000 Americans of Korean ancestry who have no medical insurance.   It has also targeted Japanese and Chinese patients desiring cosmetic surgery or medical packages based on Korean Oriental Medicine.   According to a Council official:

• The average charge for an in-patient visit in a US hospital is $3,762, which is 13 times higher than in South Korea.
• The average charge for outpatients in the US is $13,000 which is 9 times higher than in South Korea.

South Korea’s affordable health care system has seen the number of foreign patients rise from 10,000 to 13,000 in just 2 years. 

South Korean Offers Medical Packages in Plastic Surgery

South Korea is also on its way to attaining a position among the top plastic surgery destinations in the world.  Some speculate that Korea’s booming pop culture industry is partly responsible for this uptick in aesthetic treatments.  Ancali, a Seoul-based clinic for plastic surgery and skin care, has seen a sharp increase in its number of overseas patients.  An article in the Korea Herald stated that Anacli has treated 1000 foreigners in the past year.  Many of these patients are Japanese and Chinese tourists eager to resemble Korean stars.  Anacli offers affordable medical packages in skin care and plastic surgery.    

Medical Travel Insurance in South Korea

Because many South Korean hospitals do not accept foreign medical insurance, medical tourists are advised to obtain medical travel insurance with specific overseas coverage.  The medical travel insurance policy should provide for direct payment to the overseas hospital/physician at the time of service.   
 

An article in the Korea Herald mentions that Wooridul Spine Hospital is one of the hospitals that provides un paralleled treatment to overseas patients.  The hospital, which is famous for its innovative spinal treatments, offers its foreign patients help in obtaining a visa, a pick-up facility from the airport, and also a sightseeing tour.  The hospital has seen a rise in its overseas patients from 192 in 2003 to 411 in 2005.

South Korean hospitals have excellent medical technology and are eager to cater to foreign patients.  Many have begun investing heavily in improving services and facilities.  It’s not unusual to find plus accommodations, foreign language translators, and other amenities at some of the major facilities.  The Korean Government also contributes by easing visa restrictions and simplifying the process of documentation for foreign patients.  With all these measures in place, South Korea is on its way to claim its share in the prosperous medical vacation business of which countries like India, Malaysia and Singapore are major players.

Sources: “South Korea taps into Asia’s health tourism market” Daily News and Analysis, March 6, 2007