The US has the highest healthcare cost per capital in the world and it's not even close. And it's not like paying more translates into better care or results. US healthcare is not even ranked in the top 10 in the world.
The US is nearly double the cost of the next group of countries (mostly European plus Australia and Canada) but the second tier still comes in at $7,000 to $8,000 per capita versus countries like Colombia which comes in at a modest $1,700 per capita.
To be fair, the US is the only country which still purports to offer a ¨free market¨ healthcare system. All of the others are socialized medicine in one form or another.
The reality is the US is some form of monopolized medicine subsidized by massive government programs like Medicare and Medicaid which provide some price controls. US hospitals and doctors are faced with huge infrastructure investments in facilities, equipment and personnel. Doctors demand and get very high salaries and fees in part because they can and in part due to a very litigious environment awarding massive damage claims for negligence.
Big Pharma strikes the next blow.
- In 2021 (the latest data), the U.S. health care system spent $603 billion on prescription drugs, before accounting for rebates, of which $421 billion was on retail drugs.
- Drug spending is heavily driven by a relatively small number of high-cost products. The cost of specialty drugs has continued to grow, totaling $301 billion in 2021, an increase of 43% since 2016. Specialty drugs represented 50% of total drug spending in 2021.
- In Colombia, my prescription drugs are covered by insurance almost 100 %. I pay a tiny (like $1 co-pay).
So let´s talk about the savings of coming to a country like Colombia versus the US.
First of all, most people go outside the US for procedures because they are not covered by their insurance or they are under insured meaning the co-pay and deductibles are very high so it is still attractive to go abroad.
A very important thing to know is that your Health Savings Account (HSA) can pay for most medical tourism procedures including travel costs.
Dental:
Dental, maybe other than plastic surgery, is probably the No 1 procedure. Mexico and Costa Rica dentists see a huge number of patients. Cities along the Mexican border are filled with Dentist offices and bariatric surgery clinics.
All on Four or Six Dental Implants - One of the most popular major dental procedures is the replacement of an entire bridge (upper and/or lower). All your existing teeth are extracted. You may need bone transplant too if you do not have enough to support the implants (screws). You are given temporaries so you can go home. Why ? Because your jaw needs time to heal (4 to 6 months). So the first trip you are in Colombia for say about 10 to 12 days. Then, you go home and come back in 4 to 6 months for 3 or 4 days for your permanents.
How much can you save ? All of four or six in the US costs $20,000 to $30,000 per bridge. In Colombia, the cost is under $8,000 per bridge plus add several thousand dollars for your trip. So the savings are potentially $10,000 per bridge or more.
