The Medical Tourism Association and Richard Krasner, professional in workers compensation; released this white paper which presents evidence indicating that employers and insurance companies may not have a choice in implementing medical tourism.
Throughout the debate leading to the enactment of the 2010 Affordable Care Act (ACA), one area of healthcare has been relegated to the sidelines; the rising cost of workers compensation claims. One major factor for the increase of workers compensation claims costs is the rise of medical costs associated with those claims.
The average medical cost per loss time claim in workers compensation in 2008 was $260,000, and medical losses in that year represented 58 percent of all total losses.
The white paper concludes on the note that the globalization of healthcare will necessitate the removal of all barriers to providing the best care possible at the lowest cost. The cost savings that are being realized by medical tourism as a part of the healthcare industry can be just as beneficial in workers compensation. Therefore, medical tourism should be implemented into workers compensation and the legal barriers should be modified.
As part of the mission to provide education to those seeking information about the industry, the Medical Tourism Association has published the white paper, you can view it here: http://www.medicaltourismassociation.com/en/workers-compensation-white-paper.html
Please send an email with any questions or comments. Olivia@MedicalTourismAssociation.com