Are Medical Vacations the next big startup?
Paul Morgan
Empowering CPG & Automotive Success with AI-Powered Analytics | Revenue Growth Strategist | Principal Solution Engineer at Tableau, a Salesforce Company
Anyone living the US knows that healthcare and its' associated costs are a hot topic - not just because of the Affordable Care Act, but also because it literally costs many of us many hundreds (or thousands) of dollars per month and even with it, a significant medical issue (or even just a snake bite) can expect to pay significant amounts out of pocket.
Source: Commonwealth Fund
Already many US citizens have realised that traveling to a foreign country to get a medical procedure, or procure drugs otherwise prohibitively expensive in the US, is still significantly cheaper than getting treatment domestically. With news that India will slash prices of common drugs for treatments like Blood Pressure and Cancer (source), it's highly likely that many more will make the connection and look to travel to a foreign location.
US Healthcare providers will likely cite the risks associated with foreign treatment, and that quality of drugs cannot be assured; but when people literally go bankrupt or having to do fund drives with friends when being treated for cancer, many will forgo the risk.
I fully expect there to be a swath of marketing in the coming months/years from numerous startups, etc. offering to provide complete packages that are significantly cheaper and offer equivalent levels of service and quality. This disruption will be much like Uber's effect on the taxi industry; the existing incumbents will fight to prevent their waning grip through lobbying and mudslinging - but in this capitalist, consumer driven world, what is the alternative? Public healthcare?
Editorial Consultant | Author
8 年Interesting.
Marketechnologist | AI Innovator | AI Patent Holder | Driving Marketing, Consulting, and GTM Strategies with Data-Driven AI Excellence
8 年Something to keep an eye on. Aside from treatment options for major needs, there is a growing market for cosmetic and dental procedures in Greece, Turkey, and a host of other countries.