The Intersection Of Bitcoin and Medical Tourism

This opinion editorial is by Frankie Wallace, a freelance writer based in the Pacific Northwest. Medical tourism is on the rise. Millions of Americans save between 40 and 80% on medical expenses each year by traveling across the border or flying short distances to get the care they need. Even though the pandemic had slowed international travel, people continued to look abroad for shorter wait times and better service. Bitcoin can help boost medical tourism and allow patients to get the treatment they need at an affordable price. Bitcoin can make international transactions easier and ensure everyone gets fair deals. Medical TourismMedical tourism is not a popular choice. It is often associated with dangerous surgeons and invasive cosmetic procedures. These issues are often overhyped and exaggerated. Medical tourism is a lifeline for millions of people who can get the treatment they need at an affordable price. According to the CDC, medical tourism is when you travel to another country for medical treatment. Canada is a common destination for medical tourism, along with countries in Central America, South America and the Caribbean. Medical tourism is not without risks, according to the CDC. The risk of deep vein embolism increases if patients fly within a short time after surgery. Due to a lack in immunity, medical tourists could be exposed to bacterial infections. Before undergoing treatment, it is important to thoroughly research any potential care providers. Many people travel to foreign countries for different treatment options. For those with shorter recovery times, such as cataract surgery, medical travel is a popular option. Patients who have had cataract surgery can drive the day after their treatment. This makes it easy to navigate airports. Before considering medical tourism, patients should consult their primary care provider. The primary provider will have a complete medical history, and can determine whether or not the procedure is feasible. They will also be able arrange follow-up care for patients when they return home. Transactions AbroadBitcoin transactions could be especially important in the future as the U.S. healthcare system appears to be headed for a black swan event after the pandemic. The U.S. has accumulated trillions of dollars in medical debt, which could lead people to look abroad for better service and lower prices. Although medical debt is a serious problem in the U.S., most people can avoid it by researching billing codes and negotiating a payment schedule that works for them. Negotiations with bitcoin partial payments may also be possible. Bitcoin could make medical tourism more affordable. This will close the healthcare gap and ensure that everyone has access reliable, high-quality medical care. Ren?e-Marie Stephano is the CEO of Global Healthcare Resources. Stephano says that there has been “a sharp uptick in cryptocurrency usage to pay medical treatment abroad”. Decentralized currencies such as bitcoin return power to patients and make it easier to pay for their treatment. Bitcoin can be used to avoid currency conversions and international payments. Bitcoin payments to clinics are quick and cost-effective compared to traditional transactions. Accepting bitcoin is quick and easy. It can also be converted quickly to national currencies. Vinci Hair Clinic spokesperson Ken Fryer in the United Kingdom admitted that they had to cancel previous treatments for patients from overseas due to problems with bank transfers and banking restrictions. Fryer claims that Bitcoin solved these problems and allowed patients to pay quickly in large amounts if necessary. Countries that Accept Bitcoin for Medical TourismMedical tourism is often carried out in countries that are less economically developed (LEDC). These countries can use Bitcoin to help close the wealth gap. It encourages a fair and free-flowing exchange for funds in return of legitimate healthcare services. Despite the recent decline in cryptocurrency markets, Bitcoin usage is still high in many countries that have medical tourism. The top 10 countries that have adopted Bitcoin are currently India, Pakistan, and Brazil. Many of these countries are popular for medical tourism. India is one of the most popular destinations in Asia for this type. India has a favorable policy regarding medical visas, which allows family members to visit patients. India is also a top-ranked country in Bitcoin adoption. It ranks first in both centralized service valued received and retail central service value. ConclusionBitcoin can improve medical tourism and allow everyone to get the treatment they need. Bitcoin is especially important in today’s post-pandemic environment, where medical bills are rising and the U.S. healthcare sector has trillions of dollars in debt. Traveling to countries with complicated transfer laws can be difficult for Bitcoin. If patients are unable to pay on time, treatment can be delayed or cancelled. Bitcoin can help to resolve this problem and ensure everyone gets a fair deal. To ensure they receive the care they need upon their return home, patients should consult their primary care provider before paying for Bitcoin medical treatment. Frankie Wallace contributed this guest post. These opinions are not necessarily those of BTC Inc. and Bitcoin Magazine.

 

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