Week 1 - Assignment Example

Question Globalization started making its footings in health care industry with increased demand and supply gap of radiologists which inflated cost of treatment. Alongside, options in other countries like Mexico, India and Singapore where treatment is offered in around 25 to 35 percent better quality as compared to U.S also supported globalization in health care. Another reason behind the increasing medical tourism is the aim to cure greater number of people at lesser cost. Question # 2:Constantly increasing number of patients with high cost of treatment in U.

S had resulted in globalization of health care. This in turn have benefitted people, insurance companies and employers to get treatment with less cost and better quality especially for uninsured or under-insured patients. On the global part, the countries with these facilities are getting employment for their people. Impact on losers is yet less as this move is meeting demand-supply gap. However, increased dependence on same can adversely impact competitiveness and earnings of U.S medical professional, insurance companies, employers and also quality of services in these countries.

Question # 3:Patients going abroad, where most of them are either uninsured or under insured can turn up as and a greater risk as no claim can be made in case of accident. Apart from this the increasing medical tourism in any particular country can result in increasing the cost of medical services. Negotiated services from medical professionals and insurance industry can reduce the impact, which if not controlled now, will affect them as well. Question # 4:Reality of globalization in health care industry must be seen in deeper sense.

It is an observed trend that many people move from one country to another country in order to get medical treatment. The globalization in health care industry is good option for the people who are not able to get quality treatment in their own country. However, on the other hand this globalization seems to be no good option if foreign patients are treated at cost of local patients especially in Asian side countries. Work Cited‘The globalization of healthcare.’ In Hill, Charles. Global Business Today.

New York: McGraw-Hill, 2011, pp. 40-41