International Healthcare and Foreign Exchange: A Complete Guide for Patients

As humans, we are all susceptible to sickness. And when we do get sick, sometimes we don’t find the right treatment in our home country, and we choose to be treated in another country where healthcare might be more advanced or perhaps more affordable. As globalisation continues to bring people and businesses closer together, international travel and healthcare have become more accessible and commonplace. If you are travelling abroad for healthcare, it is important to understand how foreign exchange works and how it can affect the cost of your medical care. In this guide, we will help you understand the basics of overseas healthcare and foreign exchange, as well as provide tips for patients seeking medical care abroad.

What is International Healthcare?

International healthcare refers to medical care that is received outside of one’s home country. It can be for a variety of reasons, such as seeking specialised treatment that is not available in one’s home country, taking advantage of more affordable healthcare options abroad, or travelling for medical tourism. And overseas medicine includes a wide range of healthcare services, including,

• Primary care: This type of healthcare involves routine checkups, screenings, vaccinations, and other preventive care services that help maintain overall health and wellness. Primary care providers may include family doctors, general practitioners, and other healthcare professionals who provide a range of basic healthcare services.

• Specialist care: Specialist care involves medical care provided by experts in a particular area, such as cardiologists, neurologists, and oncologists. These healthcare providers have specialised training and expertise in diagnosing and treating specific health conditions and may use advanced medical equipment and procedures.

• Surgical procedures: This type of overseas healthcare includes both minor and major surgical procedures, such as dental surgery, cosmetic surgery, and complex surgeries like heart or brain surgery.

• Emergency care: This includes medical care provided in the event of a medical emergency, such as a heart attack, stroke, or serious injury. When seeking emergency care outside India, patients should ensure that they have access to travel insurance that covers emergency medical care.

• Rehabilitation: Rehabilitation services aim to help patients recover from injuries or surgeries and regain function and mobility. This can include physical therapy, occupational therapy, and other types of rehabilitative services.

When seeking healthcare abroad, it is important to do proper research about healthcare providers, understand the cost of care, and plan for travel and other related expenses. It is also important to understand the potential risks and challenges associated with seeking medical care abroad, such as differences in medical standards, language barriers, and travel-related risks. Therefore, getting travel insurance becomes important. Thomas Cook offers you affordable overseas travel insurance that covers your hospitalisation expenses and emergency outpatient department expenses.

What is Foreign Exchange?

Foreign exchange, also known as forex, refers to the conversion of one currency into another. When travelling abroad, you will need to exchange your home currency for the currency of the country you are visiting in order to pay for goods and services. The exchange rate between the two currencies will determine how much you pay in the foreign currency for a given amount of your home currency.

Foreign exchange rates can be highly volatile and can fluctuate rapidly in response to a range of factors, including economic data releases, geopolitical events, and changes in interest rates or central bank policies. Hence, one should keep a track of the exchange rates. Thomas Cook provides an easy-to-access live currency exchange rate table where you can check multiple countries’ varying rates every day and the prevailing rate trends.

How does Foreign Exchange Impact International Healthcare?

When seeking international healthcare, foreign exchange can have a significant impact on the cost of your care. The exchange rate between your home currency and the foreign currency will determine how much you pay for medical services, medications, and other related expenses.

For example, some advanced medical treatments or surgeries may only be available in certain countries, and Indian patients may have to travel abroad to receive these treatments. The exchange rate between the Indian rupee and the foreign currency of the country where the treatment is available will determine how much the patient has to pay for the treatment.

The impact of foreign exchange on medical for abroad is not limited to the direct cost of healthcare services. Exchange rates can also impact the cost of healthcare supplies, source materials and equipment that any particular country purchases from an overseas country.  

Tips for Patients Seeking Medical Care Abroad

If you are considering travelling abroad for medical care, here are some tips to keep in mind:

• Do your research: Before travelling abroad for medical care, doing research ensures that you are receiving high-quality care from a reputable provider. Look for reviews and recommendations from other patients who have received care from the same provider, and check the provider’s credentials and accreditations.

• Understand the costs: Be sure to understand the costs associated with your medical care, including the cost of the procedure, any medications or supplies needed, and any additional fees for travel, lodging, or other expenses. Factoring in the exchange rate between your home currency and the foreign currency helps to get an accurate estimate of the total cost.

• Plan ahead: Make sure to plan ahead for your trip, including booking your travel and accommodations in advance. Do consider purchasing travel insurance that covers medical emergencies and unexpected cancellations.

• Bring documentation: Be sure to bring all necessary documentation with you, including your medical records, prescriptions, and any other relevant documents. This will help ensure that you receive the appropriate care and medications while abroad.

• Consider the language barrier: If you are travelling to a country where you do not speak the language, consider bringing a translator or hiring a local guide to help you navigate the healthcare system and communicate with your healthcare providers.

• Understand cultural differences: Be aware that cultural differences may impact your experience while seeking medical care abroad. For example, healthcare practices and expectations may vary from country to country, so being prepared to adapt to different norms and customs is crucial.

• Follow up with your healthcare provider: After returning home, be sure to follow up with your healthcare provider or doctor to ensure that you are recovering properly and to address any concerns or complications that may arise.

Forex Card

Patients who are seeking overseas healthcare in another country can use a forex card to pay for their medical treatment. Thomas Cook’s forex cards are a convenient way to pay for healthcare services while travelling, as they offer several benefits over other payment methods such as cash or credit cards. Our forex cards provide you with an easy and secure way to carry and spend foreign currency. The cards also offer competitive exchange rates, making them a cost-effective way to pay for medical treatments. However, patients should note that forex cards may not be accepted by all healthcare providers in all countries, and it is important to check with the provider or facility beforehand to ensure that they accept payment via forex card. You can make the most of your international healthcare experience by keeping track of the live currency exchange rates, getting a forex card and travel insurance, and following the tips curated by Thomas Cook to be prepared for any potential challenges.