So what makes healthcare so different from other industries that have embraced--or been forced into--globalization?
For Westerners, the unique employer-sponsored payment structure for healthcare services has helped to keep them local. But as healthcare costs and utilization soar, employers more and more are beginning to resist footing the ever increasing healthcare bill. Since costs aren't coming down anytime soon, these employers are talking with their health plans about changing employee out-of-pocket costs in an effort to shift the burden to the ones who ultimately make the healthcare utilization decisions.
At the same time, the medical travel industry has begun to evolve. Over the past decade the popular press has reported about Americans and Western Europeans going on vacations abroad that include elective procedures. Nowadays, acute healthcare institutions are forming in some developing nations that compare with U.S. hospitals in terms of technology and quality.
As I have reported for HealthLeaders magazine, for some U.S.-based academic medical centers, the emergence of state-of-the-art global health systems represents a new opportunity. For other healthcare organizations, this could be a sign of a competitive global marketplace.
For large employers and health plans, this medical travel could be part of the solution to out-of-control healthcare costs. And for consumers around the world, improved global healthcare, and its related cost reductions, can be an answer to their healthcare crises.
Just how far will the global healthcare movement reach?
The answer to this key question is something I hope to discover with you, reader, in the weeks to come. This is the first true issue of HealthLeaders Media Global, a weekly e-newsletter aimed at providing news and insight on the growing global healthcare market. In this issue, I've included links to text and audio interviews I've conducted in the past few weeks on the subject of global healthcare leadership.
In the weeks to come, I plan to cover many of your chief concerns, including:
- Performance management
- Physician relations
- Accreditation
- Construction
- Quality and safety
- Marketing
- Transparency
Rick Johnson is senior online editor of HealthLeaders Media. He may be reached at rjohnson@healthleadersmedia.com.
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