Startup Idea #53: Lower premium for healthcare insurance through a network of medical tourism hubs

Continuing from these series of posts about improving healthcare (see this post for articles, see this post of a possible idea for a new healthcare startup), another idea is to provide cheaper insurance for companies to provide their employees.

Rising insurance cost for healthcare is a growing issue and this has forced companies to provide inadequate coverage for their employees. Our model is to create a network between medical tourism hubs such as Singapore, Thailand et al and provide insurance coverage that requires the patients to travel to these cheaper places for their healthcare needs. As the costs of these hubs are significantly lower than developed countries such as the US, the insurance premium needed will be much, much lower. Companies can then take advantage of the lower insurance premium to provide better coverage.

In the 2.0 spirit, all these transactions can then coordinate via the web, similar to what Weatherbill has done for weather insurance. Through this site, companies can purchase, compare, transacted on their insurance needs. Individuals of course can also purchase personal healthcare insurance through this site.

Comments anyone?

Posted in: healthcare 2.0,network,startup business ideas