How medical tourism help reduce the cost of healthcare services

Medical tourism is a growing concept worldwide where people travel to another country for medical treatment at lower cost. It involves the people of developed countries seeking medical treatment in developing countries. The healthcare offers excellent medical facilities to foreigners at highly affordable prices. Developing countries offers high-quality medical treatment at very lower cost. We have a list of reasons behind cheap medical treatment.

costs

Cheap labor Cost

The main reason behind cheap medical treatment is its cheap labor cost. It is the main reason for any product or service being cheap in medical tourism sector. The high cost of labor accounts for more than half of any clinic or hospital’s costs on average, which is high in developed countries.

177867599

Lower Cost of Construction

Lower real estate value and lower construction cost are the two main factors that exemplify to a great deal why healthcare is cheap in the developing countries. The medical facilities require huge buildings and constructing these will not be cheap in developed countries. Lower cost of infrastructure involves lower real estate value as well as lower labor cost reducers the investment in the medical sector.

137805102

Lower Government taxes

Service provider has to pay tax to the government in order to sell the products or services. The cost of a commodity that we buy for regular use more often or any service that we avail occasionally is subjected to government taxes. The type and number of taxes on medical services differ from country to country. The less numbers and types of taxes in the developing countries as compared to the developed ones is one of the reasons for lower cost in the medical tourism destination.

78655708

Cheaper medication cost

The cost of medication in developing is less than developed ones. The prescription drugs are also cheaper at medical destinations in developing parts of the world. The cost effective manufacturing of medical equipments or medicines and easy availability of medical supplies at lower cost help reduce the overall cost of treatment.

Dr Prem Jagyasi (c)

Dr Prem is an award winning strategic leader, renowned author, publisher and highly acclaimed global speaker. Aside from publishing a bevy of life improvement guides, Dr Prem runs a network of 50 niche websites that attracts millions of readers across the globe. Thus far, Dr Prem has traveled to more than 40 countries, addressed numerous international conferences and offered his expert training and consultancy services to more than 150 international organizations. He also owns and leads a web services and technology business, supervised and managed by his eminent team. Dr Prem further takes great delight in travel photography.

Related Articles

Back to top button
Close