The Canadian health system is one of the best in the world, providing universal access to medically necessary hospital and physician services without the financial burden of private insurance. However, despite its many benefits, the system is not perfect, and some Canadians may consider medical tourism as an option for certain procedures. Medical tourism is becoming increasingly popular as a way to enjoy the rewards of traveling abroad while undergoing treatment. The process can be costly, however, there are ways you can finance your procedures with a personal loan. In this article, learn more about medical tourism and how to finance such trips and procedures!
Why do Canadians pursue medical tourism?
Medical tourism is the act of traveling to another country to receive medical treatment. There are various reasons why Canadians may choose medical tourism, including long wait times for certain procedures in Canada, access to specialized treatments that may not be available in Canada, and/or cost savings.
Some people choose to go to other countries for reasons such as:
- lower costs for treatment
- quicker access to medical services
- medical care not available in Canada
What are common procedures for Medical Tourism?
Canadians may consider medical tourism as an option for certain procedures. Common procedures for medical tourism among Canadians include:
- organ transplants
- dental procedures
- neurologic therapies
- fertility treatments
- cancer treatments
- orthopedic and bariatric surgeries
- cosmetic treatments and procedures
Many of these procedures can be significantly less expensive in countries such as Mexico, Thailand, or India while maintaining high quality and safety standards. Many Canadian snowbirds who travel to the U.S. for the winter will seek treatment there because they may be able to get things done faster than in Canada.
Do your research
If considering medical tourism, it’s important to research the medical facilities and providers thoroughly to ensure they meet the same safety and quality standards as in Canada. Being aware of the risks and potential complications associated with travelling for medical treatment, such as infection, language barriers, and unfamiliarity with local healthcare systems is also essential.
Warning signs
Remember that medical tourism is at the patient’s risk, so beware of:
- anyone pressuring you to make a quick decision
- offers claiming high success rates and low-risk procedures – if they sound too good to be true, then chances are that they probably are
- companies selling packages that include a holiday in addition to treatment
- little available information about the health care provider, or no opportunity to consult them before treatment
A Medical Loan
Paying for medical tourism procedures can be done in a variety of ways, including using personal savings or loans. A medical loan is essentially a personal loan that can be acquired easily and quickly. This can be a viable option for those who do not have the funds readily available. They can be obtained through a bank or financial institution and are often unsecured, meaning they do not require collateral. When applying for a medical loan it’s important to consider additional costs associated with medical tourism. These additional expenses include but are not limited to:
- Travel
- Accommodation
- Aftercare
These expenses can add up quickly and should be factored into the overall cost of the procedure. With a personal loan for medical tourism from Symple Loans, you have more options when it comes to your health needs. You can finance your medical procedure with flexible repayment terms and low interest rates, a medical loan is an affordable way to get the care you need. If you are considering medical tourism and need funds, get your personalized loan rate today. Symple offers:
- unsecured Loans – Meaning no collateral required
- competitive interest rates* starting at 6.99%
- borrow up to $50,000
- funding the next business day
- loan terms up to 7 years
- excellent customer service to answer any questions or concerns
- flexible repayment plans (weekly, bi-weekly, or monthly)
- quick loan rate quotes that do not affect your credit score
- fully online and digital process that can be completed anytime, anywhere
- no hidden fees or penalties for early repayment
Our goal is to make getting a medical loan quick and easy so you can focus on getting the treatment you need without the added stress of how to pay for it!
In Summary
While the Canadian health system provides access to high-quality medical care, medical tourism may be an option for Canadians seeking certain procedures. It’s important to thoroughly research potential providers and recognize the risks associated with traveling for medical treatment. Personal loans can be a viable option for financing medical tourism, but it’s essential to carefully consider the additional costs associated with the procedure.
