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Society of Actuaries 2009 Health Spring Meeting A Personal Medical Tourism Experience June 8, 2009 Actuarial Management Strategies, Inc. AMS Presented.

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Presentation on theme: "Society of Actuaries 2009 Health Spring Meeting A Personal Medical Tourism Experience June 8, 2009 Actuarial Management Strategies, Inc. AMS Presented."— Presentation transcript:

1 Society of Actuaries 2009 Health Spring Meeting A Personal Medical Tourism Experience June 8, 2009 Actuarial Management Strategies, Inc. AMS Presented by: Alison J. Saifer, FSA, MAAA

2 Actuarial Management Strategies, Inc. AMS Copyright and Disclaimer This presentation is for informational and discussion purposes. All material contained within this presentation is believed to be reliable and is based upon market experience and knowledge of Actuarial Management Strategies, Inc. (AMS). AMS does not certify to its accuracy or completeness. This document and its contents are proprietary to AMS and may not be copied or reproduced without the express consent of AMS.

3 Actuarial Management Strategies, Inc. AMS Background: Alison J. Saifer, FSA, MAAA Health Care Consultant (Actuarial/Financial/Business) for: Reinsurance Companies Direct Carriers MGUs Attorneys Investors

4 Actuarial Management Strategies, Inc. AMS Types of Products Employer Stop Loss Limited Medical/ Mini-Med First Dollar, including High Deductible Plans Travel Carve Outs – Transplant, Dental, Drug, Vision Student Accident and Medical Blanket Special Risk Pet Insurance

5 Actuarial Management Strategies, Inc. AMS The Hot Topic of Medical Tourism Everyone is talking about it, but is anyone actually doing it? Many have determined that the potential for cost savings, even after accounting for travel and accommodations is significant After looking at it from an actuarial perspective, decided to participate in an actual experience

6 Actuarial Management Strategies, Inc. AMS The Mock Trip Im Not a Doctor, I Just Think All Those Actuarial Exams Qualify Me to Act Like One! May 27 – June 1, 2009 Bangkok, Thailand Medical Services Needed…. All parts currently working…, so how about an executive physical? Traveled with an Insurer, Reinsurer, Reinsurance Intermediary

7 Actuarial Management Strategies, Inc. AMS Agenda Tour of Bangkok Hospital Meeting with Hospital Senior Management Tour of Rehabilitation Clinic and Holistic Medical Center Tour of Samitivej Sukhumvit Hospital Meeting with a Group That Does Aphaeresis Treatments Not Available in the US First Hand Experience with Some Medical Tests and Treatments

8 Actuarial Management Strategies, Inc. AMS What about the Tourism Component? Dining Experiences Tour of the City Visit to the Bangkok Night Market

9 Actuarial Management Strategies, Inc. AMS Trip to Bangkok After 26 hours of travel, arrive in Bangkok, tired, but excited A concierge was waiting for us with a sign AT OUR GATE Helped us with luggage, through customs and to a waiting car Transportation to the hotel

10 Actuarial Management Strategies, Inc. AMS Bangkok Hospital – Meeting with Management

11 Actuarial Management Strategies, Inc. AMS Bangkok Hospital – Meeting with Management (continued) JCI Accredited In 2007, 37% of Patients Were International 9.4% are Americans – mostly expats living in Thailand and surrounding areas Most Doctors Have Excellent English Skills, so Language is Not a Big Barrier High Tech with a Light Touch State of the art equipment Caring, dedicated staff with Thai hospitality

12 Actuarial Management Strategies, Inc. AMS Bangkok Hospital (continued) No Waiting No Shared Rooms – Extremely Clean and Quiet Doctors Spend Time With Patients Affordable, Even After Allowing for Traveling and Accommodations Look After the Family, Not Just the Patient No Visiting Time Restrictions Apartments available in the hospital

13 Actuarial Management Strategies, Inc. AMS Bangkok Hospital (continued) Seamless Service Referral Center Concierge Services Transportation from airport, to hospital Take people shopping, tourism trips Re-booking flights Stress free Medical Coordination Communication with Referees Patients go home with discharge folders

14 Actuarial Management Strategies, Inc. AMS Bangkok Hospital (continued) Longer Inpatient Stays Than US Not rushed out of hospital Re-Hab Patients May Stay at Hotel and Come Back Daily to Hospital 24/7 Service Saturdays and Sundays are very busy Routine operations may happen at 8pm Hospital is the Center of Healthcare

15 Actuarial Management Strategies, Inc. AMS Bangkok Hospital (continued) Package Pricing Getting you back home is part of their responsibility May advise you to stay longer before you are ready to travel home Cost of Wait time before you are fit to fly included Doctors or nurses may fly back home with you

16 Actuarial Management Strategies, Inc. AMS Bangkok Hospital (continued) Typical US Patients are: Well traveled Have passports Understand technology Typical Procedures Include: Cardiac stem cell therapy Computerized diagnosis and radiotherapy for cancer Joint replacement surgery Clinical trials

17 Actuarial Management Strategies, Inc. AMS Bangkok Hospital Tour of Facility Extremely Clean No Hospital Smell People Smiled and Greeted You as They Passed By Rooms Were Large and Comfortable, and Hotel-Like Patients Drugs Kept in Locked Box in Patients Room Photo Taken at Registration and Then on Every Page of Medical Records

18 Actuarial Management Strategies, Inc. AMS Bangkok Hospital Tour of Facility Procedure Prices Posted on the Wall at the Hospital

19 Actuarial Management Strategies, Inc. AMS Bangkok Hospital Tour of Facility Outpatient Dialysis Area

20 Actuarial Management Strategies, Inc. AMS Bangkok Hospital Tour of Facility Apartments Available in the Hospital for Family Members or Patients with Outpatient Procedures

21 Actuarial Management Strategies, Inc. AMS Bangkok Hospital Tour of Facility Starbucks Coffee and Au Bon Pain in Hospital

22 Actuarial Management Strategies, Inc. AMS Holistic Medical Center Integrated with Medical Care State of the Art Equipment

23 Actuarial Management Strategies, Inc. AMS Samitivej Sukhumvit Hospital JCI Accredited 40% of Patients are International Japanese, then American Mostly expats living in Thailand or surrounding areas 10% of revenue from medical travelers Thai Patients are Upper and Upper-Middle Class

24 Actuarial Management Strategies, Inc. AMS Samitivej Sukhumvit Hospital (continued) Karaoke in Room Internet in Room 24 Hour Hot Line to Nurses Station Using Skype and Web Cams – Face to Face Communication After Discharge Connectivity Externally - Pre and Post Care Facilitated Through Web Consult with doctor face to face before patient comes to Thailand

25 Actuarial Management Strategies, Inc. AMS Samitivej Sukhumvit Hospital (continued) Apartments Available in the Hospital – About $80

26 Actuarial Management Strategies, Inc. AMS Day 2 – Tour of City Concierge Services Provided Us Transportation, Tour Guide Visit to Grand Palace Wonderful Thai Food Incredible Hospitality

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30 Actuarial Management Strategies, Inc. AMS Day 3 - Patient Concierge picked us up at hotel at 7:30 am for 8 am appointment on SUNDAY (appointment had been made electronically from home) 7:50 am check-in at International Medical Center Desk – handed us voucher for Starbucks or Au Bon Pain so we could eat once we were finished with lab work

31 Actuarial Management Strategies, Inc. AMS Day 3 – Patient (continued) 8:05 am called and all vitals, blood and urine taken Water available at every turn 8:20 am finished with lab piece and head upstairs for chest x-ray Waiting for us, no paperwork, NO WAIT The longest wait we had was the time it took us to change into hospital gown for chest x-rays Were told we could come back in 1 hour for consult with the Doctor

32 Actuarial Management Strategies, Inc. AMS Day 3 – Patient (continued) 8:40 am – Cappuccino and Croissant at Au Bon Pain

33 Actuarial Management Strategies, Inc. AMS Day 3 – Patient (continued) Appointment at 9:40 am with Dermatologist Refused escort to other building – all signs in English, so no problem finding it! Arrive at 9:05 am Called into patient room at 9:25 am Doctor was waiting for ME in the room Consult over at 9:45 am, when exam and all my questions were answered in English Cost 750 baht - $22 Services requested – all prices explained Were a fraction of costs in USA NO WAIT for Services All services provided by friendly, attentive and knowledgeable professionals, including the Physician

34 Actuarial Management Strategies, Inc. AMS Day 3 – Patient (continued) Payment was made and our concierge was waiting for us with a sandwich and water bottle But first, back to the International Medical Center for our test results Check in at 11:40 am (with no appointment) Called to speak with Physician at 11:45 am who went over in detail the results of all the labs and showed me my chest x-ray I had come down with a sore throat, so after an additional exam was given a prescription for an antibiotic and headed out at 12:00 pm

35 Actuarial Management Strategies, Inc. AMS Day 3 – Patient (continued) Pharmacy was around the corner. Arrived at 12:00 pm and was on my way with my filled Rx at 12:05 pm Back at the IMC, I was provided a hard copy of all my results and told that a formal report would be done in 1 hour and that I could pick up or it could be emailed to me Concierge then provided for a last delicious, authentically Thai meal, a trip to the night market, and transportation back to the airport at 4 am Monday morning Another concierge met us at the airport and facilitated us through the check-in and customs process

36 Actuarial Management Strategies, Inc. AMS Day 3 – Patient (continued) Cost of the Check-Up Including: Physical exam CBC Blood sugar Liver Function Test Kidney Function Test Lipid screening Urine Analysis Chest X-ray Physician Consult of Results Full Written Report $2,600 Baht or $74 Unparrelled, Courteous and Timely Services – PRICELESS!

37 Actuarial Management Strategies, Inc. AMS Patient Experience All Professionals I Came in Contact with (perhaps 20) had Excellent to Fluent English All Care was Provided Professionally, Politely and Efficiently All Facilities Were Immaculately Clean

38 Actuarial Management Strategies, Inc. AMS General Observations Always Felt Safe, Cared For and Never Left Stranded The Food was Delicious – No One Got Sick and All Enjoyed the Cuisine The City was Interesting and Culturally Rich The People Were Incredibly Hospitable, Attentive and Professional All Hotels, Restaurants and Sights We Were Exposed to Were Very Safe and Excellent by American Standards Never Experienced a Language Barrier The Medical Care was Efficient, Professional and Provided in a Superior Manner to that of the US

39 Actuarial Management Strategies, Inc. AMS Most Important Questions And If I Really Needed a Medical Procedure, Would I Go Back? ABSOLUTELY! Only True Down-Side for Me was the Long Trip, But the Care, Quality and Opportunity to Visit a New Country and Experience the Culture Made It Worth While

40 Actuarial Management Strategies, Inc. AMS Thank You ! Alison J. Saifer, FSA, MAAA President (215) 862-8390 asaifer@actmgmt.com Actuarial Management Strategies, Inc. AMS


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