Globalization has been a fact for healthcare long before it has been a mainstream paradigm for the business world. For decades, wealthy patients around the world have been traveling to various destinations around the world to find the best possible treatment. Yet the ever increasing cost of treatment in developed nations has spurred new demand: Quality treatment at a low cost added with a taste of tourism.

The high cost of healthcare in the Western world is seen as a major problem for individuals, companies, insurance companies and governments. There is an increasing tendency to reduce costs by buying healthcare services abroad at foreign hospitals and clinics.

In the 21st century an increasing number of patients from developed countries are traveling to abroad. These patients are seeking high quality medical care at affordable prices along with the flavor of being a tourist in a unique country.

Initially, the medical tourism industry catered to patients who were seeking lower cost alternatives to elective procedures, mostly cosmetic. However, there is an increasing trend of patients who are seeking treatment abroad for more complicated procedures.

According to McKinsey & Company, Medical Tourism Industry grossed $60 billion worldwide in 2006 and estimates that the market will expand to $100 billion by 2012. The majority of these patients are from the US. Though there is limited research covering the trend it is estimated that 500,000 Americans traveled abroad for treatment in 2005. The cost savings for patients and their insurance companies seeking medical care abroad are significant.

Some employers are also exploring medical tourism as a way to provide quality, healthcare coverage to employees at a lower cost. In the EU and Middle East, medical tourism is often driven by the lack of timely access to quality care nearby. For example, the wait for elective orthopedic procedures in the UK can be months. Therefore, some patients choose to travel in order to receive treatment in a matter of weeks. In other areas, quality healthcare does not exist so travel is the only option.

The types of interventions which are performed abroad continue to increase. As discussed above, the initial focus on elective, cosmetic procedures has expanded to much more complex procedures including complex cardiovascular interventions, transplantation, neurosurgeries, oncological treatments, major orthopedic, urological and general surgery cases. With increasing number of alliance and affiliations between top US teaching institutions and foreign hospitals, the trends to more high quality procedures available abroad will likely continue.

Currently there are more than 148 hospitals in 27 countries which are accredited by the Joint Commission International (JCI), an arm of the organization that accredits American hospitals participating in medicare; another 20 are accredited through the International Standards Organization; and some countries are adopting their own accrediting standards.

The types of interventions which are performed abroad continue to increase. As discussed above, the initial focus on elective, cosmetic procedures has expanded to much more complex procedures including complex cardiovascular interventions, transplantation, neurosurgeries, oncological treatments, major orthopedic, urological and general surgery cases. With increasing number of alliance and affiliations between top US teaching institutions and foreign hospitals, the trends to more high quality procedures available abroad will likely continue.

Currently there are more than 148 hospitals in 27 countries which are accredited by the Joint Commission International (JCI), an arm of the organization that accredits American hospitals participating in medicare; another 20 are accredited through the International Standards Organization; and some countries are adopting their own accrediting standards.