The medical service sector is predicted to grow to approximately 100 billion baht by 2015.
(PRWEB) September 17, 2013
Pacific Prime Insurance has recently released an article on its website titled "Cost of Medical Care in Thailand is Rising", a review of the health care industry in Thailand.
Thailand was once regarded as one of the best places for medical treatment in Southeast Asia, and PPI analysts have examined the reasons why health care in the country is no longer so cheap.
Although in comparison to the United States, the cost of health care in Thailand is comparably low, the rising costs are considered to be relatively high for Thai citizens and expats in the region. For example, back in 2010, a face-lift procedure, which would cost between US $10,500 to $16,000 in the US, only cost US $2,400 in Thailand. Today, however, the same procedure in Thailand costs approximately US $6,800.
PPI analysts have attributed the rising costs of health care in Thailand to both the growing demand in the industry and the improved level of treatment offered in both public and private hospitals.
Each year, Thailand receives approximately 2 million foreign patients, and it is projected that over 24.5 million tourists will be visiting Thailand by the end of 2013.
BBC Travel have revealed that medical tourism in Thailand is growing at 16% yearly, and the medical service sector is predicted to grow to approximately 100 billion baht by 2015. Medical Tourism currently accounts for approximately 0.4% of Thai GDP while tourism accounts for approximately 6-7%.
The Thai government has observed the rising health care demand and has increased their development in the sector. Thailand now has over 1,000 public hospitals and over 400 private hospitals. The Bumrungrad and Samitivej hospitals were some of the first facilities in Asia to receive JCI certification (Joint Commission International), and today there are 30 JCI accredited hospitals in the country.
To read the full article, visit http://www.pacificprime.com/resources/news/2013/09/16/thailand-rising-health-care-costs/.