This episode features David G. Vequist IV, Ph.D. Founder & Director of the Center for Medical Tourism Research (CMTR), Managing Editor of the Journal of Healthcare Management Standards (JHMS), University of the Incarnate Word (UIW) Full Professor of Management in the H-E-B School of Business & Administration (HEBSBA) San Antonio, Texas, USA. Here, he discusses what medical tourism is, trends he is watching in the field, the most common medical ‘destinations’, and more.
Summary
Understanding Medical Tourism with David G. Vequist IV, Ph.D.
David G. Vequist IV, Ph.D. is the Founder and Director of the Center for Medical Tourism Research (CMTR) and a Full Professor of Management in the H-E-B School of Business & Administration (HEBSBA) at the University of the Incarnate Word (UIW) in San Antonio, Texas. In this episode, he discusses medical tourism, trends in the field, popular medical destinations and more.
The Origins of an Interest in Medical Tourism
Dr. Vequist's fascination with medical tourism began during his time as a consultant at Ernst & Young and as an executive in a healthcare system in San Antonio. He noticed people from Mexico traveling to the US for healthcare, and became intrigued by the concept of people traveling for medical reasons. Today, double-digit growth can be seen in Americans traveling overseas for healthcare, primarily to countries such as Mexico, India, Turkey, Colombia, Korea, and Germany. While people often travel for dental care and less invasive procedures, wellness travel is a growing industry.
The Two Major Areas in Medical Tourism
According to Dr. Vequist, there are two significant areas of medical tourism. The first is destination spa and health wellness procedures, and the second is pharmaceutical tourism. Additionally, many employers are now offering centers of excellence policies to their employees. This allows employees to travel domestically for healthcare and receive medical treatment with no out-of-pocket expenses.
Common Medical Destinations
Many countries are gaining recognition as popular medical tourism destinations. Dr. Vequist mentioned Mexico as a top destination for medical tourists. Mexico boasts high-quality medical facilities and close proximity to the United States, making it an attractive choice for Americans. India is another destination with affordable healthcare and top-quality facilities. Turkey has also emerged as a leading destination for hair restoration procedures. Colombia's private health system offers excellent medical care, while Korea is a popular destination for plastic surgery. Finally, Germany attracts medical tourists with its advanced medical research and state-of-the-art facilities.
The Future of Medical Tourism
The medical tourism industry is poised for continued growth, and Dr. Vequist is committed to bringing awareness to the potential of this industry. Through his work with the Center for Medical Tourism Research, Dr. Vequist is dedicated to providing valuable insights and analysis into the phenomenon of medical tourism.
Note: This is an AI generated transcript, not edited by a staff writer and is solely intended for educational purposes. If you have any questions/concerns, reach out to podcasts@beckershealthcare.com
This episode aired on 03/31/2023 and can be listened here.
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