Experts have predicted significant volatility in healthcare costs in 2022 and beyond as a result of the impact of the pandemic not only on the economy but also on overall health. Therefore, organizations and individuals need to be prepared for the sticker shock and implement cost-saving strategies
Contracting healthcare to Centers of Excellence is not a new model, employers have been leveraging these programs to provide quality healthcare at lower costs to their employees. However, with the economic downturn and pent-up demand for healthcare triggered by the coronavirus pandemic, the paradigm of health will shift toward this model - more self-funded employers will adopt this healthcare plan to minimize healthcare spendings while optimizing clinical outcomes for their employees
With the pandemic restrictions creating pent-up demand for elective procedures, more employees are willing to explore medical travel in countries like Korea to access safe and affordable healthcare.