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Explosive Growth in Medical Tourism and Rise of Retail Clinics Provide Huge Cost Savings for Patients
Date:7/30/2008

atient traffic (http://www.deloitte.com/us/medicaltourism)

-- "Retail Clinics: Facts, Trends and Implications," projects a rise in the number of retail clinics opened and used by consumers (http://www.deloitte.com/us/retailclinics)

-- "Disease Management and Retail Pharmacies, a Convergence Opportunity," outlines the rapid growth of the disease management market and new opportunities for retail pharmacies to include these services to attract and retain consumers (http://www.deloitte.com/us/retailconvergence)

Among the key findings from the reports:

-- Outbound medical tourism currently represents $2.1 billion spent by Americans overseas for care -- $15.9 billion in lost revenue for U.S. health care providers. Americans primarily seek this sort of care for elective surgical procedures.

-- The number of outbound medical tourists is projected to rise to 15.75 million in 2017, representing a potential $30.3 to $79.5 billion spent abroad by Americans. As a result, the potential lost revenue for U.S. health care providers could top $228.5 to $599.5 billion.

-- Medical care in countries like India, Thailand and Singapore can cost as little as 10 percent of the cost of comparable U.S. care, often including airfare and a stay at a resort.

-- In 2008, more than 400,000 non-U.S. residents will seek care in the United States, known as inbound medical tourism, and spend almost $5 billion for health services.

-- Many leading U.S. academic medical centers and major health systems are already seizing the opportunity to capture the medical tourism market by leveraging their strong brands and collaborating with international providers.

-- Consumers are flocking to retail clinics not only for convenience, but also
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SOURCE Deloitte
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