Bitcoin is increasingly making inroad in new sectors day by day. One such is tourism and specifically medical tourism.
People are using Bitcoin for their travels, flights, car rentals, and accommodation for quite some time now.
Payments by crypto currency in general and Bitcoin in particular, are readily accepted by businesses and medical tourism is no exception. The medical tourism industry, cutting across the country border, is booming at a rapid rate.
Medical tourism is increasingly becoming a multi-billion dollar global market, comprising of nearly 11 million medical tourists annually. Annual growth is around 25% worldwide. Acceptance of crypto currency is becoming popular in this sector.
Patients from various geographical areas, social economic condition, and cultural backgrounds are traveling outside their local residing areas for receiving medical services and treatments.
Many medical tourists are paying Bitcoin in abroad to get medical services. Most of the medical services are in the field of cancer, cardiology, organ transplant, cosmetic surgery, stem cell, in-vitro fertilization, orthopedic and health check-ups just to name a few.
According to Medical Tourism Magazine published by Medical Tourism Association, the main factors of growth drivers for medical tourism are increase in degenerative diseases, long waiting period, lack of availability of quality health services, aging population and ease of travel etc.
Increasing number of hospitals, clinics and doctors’ along with airlines, hotels and tour operators are using block chain technology and accepting payments by Bitcoin. The rise in acceptance of crypto currency increases the use of it.
People around the world are accepting Bitcoin because they have confidence in its value, assurance, and power, just like traditional fiat currency, where they can buy and sell things. Since nowadays medical and health services providers are also accepting the crypto currency. It has become easy for those patients who cross country borders for treatment, to make payments in Bitcoin.