Panama Growing into Healthcare Retreat

Panama is now being called a destination for “medical tourism”. This newest genre describes the international citizens that are traveling to Panama, across international borders, to obtain medical coverage.

Amid the economic crisis, the plunging real estate market and job cuts, the rise in medical demand is unprecedented, with many unable to afford the “luxury” of healthcare. Currently, even banks are willing to lend to health-related organizations.

The medical tourism industry is growing due to a lack of health insurance and coverage in places like the United States. As a result, many international citizens are looking to places like Panama for all kinds of healthcare from plastic surgery and dentistry to specialized surgery. Travel agencies have begun to capitalize on this growing trend and are offering “health care holidays” at luxury resorts, combining medical and recuperation with vacation. Medical tourism has existed for decades and centuries in places like Bath and St. Moritz. However, the number of Americans traveling abroad will grow from 750,000 in 2007 to 10 million in 2012, spending an estimated $21 billion a year.

The reasons citizens are flocking to places like Panama for medical coverage:

• Quality and Price are roughly 20% of healthcare costs in the U.S.
• World-renown hospitals like the Mayo Clinic and Johns Hopkins are setting up affiliate operations in places like Panama and the Middle East.
• Medical operations are completed much more quickly as a result of not having to deal with insurance or public health.
• Patients are able to purchase Global Health Insurance Coverage, private health insurance that provides global coverage.

The Top 5 Health Care Destinations are Panama, Brazil, Malaysia, Costa Rica and India.

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