Seven Corners announces the launch of the first worldwide medical tourism insurance program that reduces travel-related and medical risks associated with patients electing to have surgical procedures abroad.
Medical tourism, the practice of traveling outside of a person's home country to obtain health care services at a significantly reduced rate, is expected to multiply by 100 percent from 2007 to 2010, according to a study conducted by Deloitte. Medical tourists most often travel abroad to obtain elective procedures such as dental, Lasik, bariatric, lumbar/disc, knee/hip replacement, infertility and plastic surgeries. According to the study, costs for these procedures can be up to 90 percent less than what a person may pay in their home country.
"Medical tourism insurance is a natural progression of Seven Corners' core competencies. We're excited about introducing such an innovative and valuable product to the growing medical tourism industry," said Jim Krampen, co-Founder and Executive Officer of Seven Corners. "The support and confidence of our underwriters at Lloyd's of London have allowed us to address the specific needs and concerns of the medical tourist."
This insurance program can be embedded into packages offered through a network of qualified medical tourism facilitators, international surgical centers or hospitals.
For a small percentage of the total cost of the trip and medical procedure(s), Seven Corners' medical tourism insurance mitigates health risks and safeguards the patient's financial investment. The package includes:
- Trip cancellation and interruption coverage for non-refundable, prepaid expenses, including the scheduled medical treatment.
- Medical coverage for the patient and companion upon the occurrence of unexpected illness or accidental injury unrelated to the scheduled medical procedure.
- Worldwide emergency medical evacuation and repatriation for any necessary medical condition.
- Worldwide medical coverage for treatment of complications incurred from scheduled treatment abroad.