Cayman Islands Medical Tourism
The basic concept behind medical tourism is the movement of patients from expensive territories to destinations that offer more competitive prices in order to undergo medical procedures.
However, it is not just a cost saving exercise, some patients are going abroad because their insurance either does not cover orthopedic surgery (such as knee/hip replacement) or limits the choice of the facility, surgeon, or prosthetics to be used
Medical tourism for knee/hip replacements has emerged as one of the more widely accepted procedures because of the lower cost and minimal difficulties associated with the traveling to/from the surgery.
In this way, healthcare costs can be significantly reduced for the patient whilst the destinations also benefit from not just the direct costs associated with procedures but a raft of secondary effects.
Those who can benefit come in several stages including those in construction, consultants, engineers and utilities as the necessary infrastructure is developed. Government benefits from the taxation and duties payable with the exception of specific exclusion incentives.
A great example of this is Health City Cayman Islands, which is the vision of famed India heart surgeon Dr. Devi Shetty.
Health City Cayman Islands is currently under construction. It is scheduled to accept its first patients in early 2014 and will open with a 140-bed tertiary-care hospital in Grand Cayman as a Center-of-Excellence in cardiac surgery, cardiology & orthopedics.
Over the next decade, the hospital will expand to a 2,000-bed facility, providing care in major specialties including neurology, oncology, and other cutting edge tertiary care disciplines. The complex is also planned to have a medical university and an assisted-care living community.
Once the facility is established, workers are needed to staff it. Whilst Cayman may not be able to supply specific specialists, there is also a need for nurses, carers, kitchen, administration, cleaning, and security staff. Suppliers of food and other goods could benefit from the increased activity, leading to an economic stimulus.
Any imported specialists would also need housing which will have a positive effect on the rental and accommodations industry, with new build housing becoming established for the same reasons.
Following the undergoing of procedures, it is widely recognised that the powder white beaches, crystal clear waters and luxurious standard of living of the Caymans make it an ideal place to recuperate.
