You may have pointed out that many U.S. But how does this work? Can your business reduce healthcare costs by using foreign providers? The answer is complicated. Medical travel is the practice of patients receiving look after certain techniques in international countries. Medical travel professionals have built networks of distinguished providers in India, Costa Rica, Singapore and Thailand who are accredited and providing American patients. These providers offer the same procedures by similarly qualified surgeons at state of the art hospitals for 30% to 50% from negotiated prices in the U.S.
Employers and medical travel professionals are placing their heads together to create health plans that allow employees to travel for treatment and save. The employers who are embracing medical travel generally either go at it only or collaborate with a medical travel company to create a benefit add on. Medical travel companies and other industry experts have a lot of experience and knowledge to donate to this process and really should be consulted while building a medical travel benefit.
Here’s why. Medical travel experts generally focus on financial incentives to drive utilization of foreign providers. However, your business will dsicover greater results if you spend money on the process to comprehend the employee people early. By analyzing your employee demographics and understanding health consumer behavior, you can design an idea that attaches with your focus on beneficiary changes and group their behavior. Healthcare consumers, both groups and individuals, are demanding competitive prices, more transparency and better quality care. Beneficiaries and patients have become healthcare consumers. The movement is called consumer-driven health care.
Employers that provide health advantages are giving an answer to this trend with packages that let beneficiaries to consider greater responsibility because of their care and intake decisions. Global health benefits (as it is referred to by some on the market) generally follow the health care consumerism model of high deductibles, behavior-inducing co-payments, and a ongoing health savings account.
Global health advantages go one step further and offer financial incentives for patients who travel overseas for certain techniques. Generally global health advantage programs use three types of incentives: financial bonuses for patients to use preferred providers, non-use dependent incentives to entice beneficiaries. Like other low-cost health programs, global health benefits give patients more responsibility for health-related decisions. Enrollees choose from a network which includes preferred out-of-country providers. Financial bonuses encourage patients to choose foreign providers for specific methods. Financial bonuses prize patients who have certain methods performed abroad. Employers might have a lesser co-pay for foreign providers, pay enrollees cash for choosing foreign providers and/or cover the cost of travel to and from the positioning of the task.
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Employers could also let employees use non-vacation or personal time for in-country recovery. Non-use reliant incentives catch the attention of new beneficiaries with low cost premiums and reward patients when planning on taking benefit of preventative services like annual health check-ups, mammograms, prostate screenings and immunizations. While non-use dependent incentives won’t directly drive usage of foreign providers, they support the structure of plans that encourage patients to manage their health consumption.
There are limitations to the power of financial bonuses to increase usage of preferred international providers. Incentives do not address what drives healthcare consumption. Without understanding the decision drivers at the job, global benefit plans may not reduce health care cost significantly. Good results plan must narrowly tailored to the target beneficiary demographic to improve their behavior. Below are seven ways of help employers design a medical travel advantage that will achieve better results than incentives only.