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StitcherHealthcare should always be at the top of our priority when budgeting and going abroad may be one thing you have considered to acquire quality healthcare. We’re going to pop the question so you don’t have to: is medical tourism the most ideal option if you want to save medical expenses? In this episode, we learn about Medical Tourism objectively with Dr. David Vequist, the Founder and Director of the Center for Medical Tourism Research.
Getting the cheapest thing isn’t the best way to look for health care. What you should be looking for is the best value which is the cost and quality.
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Dr. David George Vequist IV is the Founder and Director of the Center for Medical Tourism Research, the first academic center in the world to study the growing industry of Medical Tourism. His cross-border experiences have translated into a broader worldview and a richer appreciation of how globalization has greatly impacted health systems over the last few decades.
All About Medical Tourism
Medical Tourism has been around since the earlier times when people would travel to places for healthcare, get treatment, and access things at a lower cost. The modern iteration is health-seeking behaviors and patient consumers. People are getting access to information on the internet–a great equalizer that allows people to have more information about what’s available and the cost, leading to a more significant number of consumers, health-seeking behaviors, and transparency. It’s basically allowing people access to the care they need when they need it, and at the cost that they can afford to get it at.
The Best Place To Go For Medical Tourism
When planning to travel abroad to acquire healthcare, it still depends on where you’re located and if you’re comfortable going. Dr. Vequist found that when it comes to medical tourism, particularly international medical tourism, the person is usually comfortable with where they’re going. Dr. Vequist sees flows of people traveling to locations they are not only comfortable with but also understand the culture, environment, and language.
Pursuing Medical Tourism Safely
Several businesses they call “facilitator businesses” may have more information than you might have about medical tourism. Still, quite frankly, Dr. Vequist says that you can find various sources on the internet. When it comes to healthcare, any additional factor contributing to that healthcare experience can induce risk (going abroad, a long distance from your hometown, or you may be away from your support system).
The last time we were surprised by the cost of a healthcare-related item
- Dr. Vequist: Had to pay almost a thousand dollars a month for family health insurance out of his paycheck when he was still studying at his university. His wife got a job at a local hospital as a nurse and got health insurance that saved them a whopping $700,000 a month.
- Jill: Needed a prescription which she delayed for a few weeks, but eventually used her free telehealth call and went to a pharmacy to pick up the prescription. She was shocked as it was priced at $5.30, which she thought will be a couple of hundred dollars in total.
- Jen: First child was breech, so they had to have him checked for Hip Dysplasia. During the week, they told Jen they charged her for the appointment and the X-Ray reading in the said schedule–only for them to ask her to come back for another X-ray and payment for another schedule with them. Jen did not follow up for another appointment but paid for another X-ray.
Get more from Dr. Vequist
Bill of The Week
Thank you Dr. Vequist for your Bill that is your paid-off loans and credit card bills!
Thanks so Much for Listening!
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Game changing, no shame approach to Personal Finances
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I feel like I can finally say I have found “friends” that have the same mindset of stewardship as I do!
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