North Korea Attack Exposes Liability of Medical Tourism
High risk countries pose special liability to companies, investors, and company reserves.
Orlando, FL, December 02, 2010 --(PR.com)-- PHM International, Inc. a global healthcare consultancy and publisher of the PHM Emerging Markets Healthcare Monitor, claims the current military skirmish between North Korea and South Korea further exposes a fundamental challenge of medical tourism.
Board members, investors, executives, and the financial reserves of insurance companies and others that promote medical tourism can be put in jeopardy by referring patients to high risk countries.
When a patient is referred to a medical treatment facility in a region of the world with known risks, that company has made a business decision that may prove detrimental to the individual patient. Today, known risks include military intervention, civil insurrection, drug wars, and more.
“Risk management is more sophisticated than a disclaimer of responsibility and utilizes an array of tools to keep current of the constantly changing global risk map,” said Hank Kearney, president of PHM International.
Such challenges are not new to the field. More than ever, companies need to fully understand the risks, policies, and geo-politics of the global healthcare sector.
“Particularly for US companies, the liability exposure of medical tourism needs to be mitigated in a way to protect not only the patient, but also the company’s reserves, the board members, and investors,” Kearney stated. “We’ve long been engaged with advising companies on the positive and dynamic medical tourism market. However, disclaimers and sending patients to JCI accredited hospitals are simply not enough protection, particularly when that hospital is in a known high risk area.”
About PHM International
Since 1997 PHM International has developed a core specialization in advisory services in emerging market economies on healthcare topics including financing, product development, research, medical tourism, and business development. PHM International works with clients ranging from healthcare organizations, institutional investors, government agencies, private equity firms, pharmaceutical companies and insurance institutions. PHM International is headquartered in Florida. PHM Macedonia, LLC is located in Skopje, Macedonia.
###
Board members, investors, executives, and the financial reserves of insurance companies and others that promote medical tourism can be put in jeopardy by referring patients to high risk countries.
When a patient is referred to a medical treatment facility in a region of the world with known risks, that company has made a business decision that may prove detrimental to the individual patient. Today, known risks include military intervention, civil insurrection, drug wars, and more.
“Risk management is more sophisticated than a disclaimer of responsibility and utilizes an array of tools to keep current of the constantly changing global risk map,” said Hank Kearney, president of PHM International.
Such challenges are not new to the field. More than ever, companies need to fully understand the risks, policies, and geo-politics of the global healthcare sector.
“Particularly for US companies, the liability exposure of medical tourism needs to be mitigated in a way to protect not only the patient, but also the company’s reserves, the board members, and investors,” Kearney stated. “We’ve long been engaged with advising companies on the positive and dynamic medical tourism market. However, disclaimers and sending patients to JCI accredited hospitals are simply not enough protection, particularly when that hospital is in a known high risk area.”
About PHM International
Since 1997 PHM International has developed a core specialization in advisory services in emerging market economies on healthcare topics including financing, product development, research, medical tourism, and business development. PHM International works with clients ranging from healthcare organizations, institutional investors, government agencies, private equity firms, pharmaceutical companies and insurance institutions. PHM International is headquartered in Florida. PHM Macedonia, LLC is located in Skopje, Macedonia.
###
Contact
PHM International, Inc.
Margaret Baarman
772-388-6496
www.phmintl.com
Margaret Baarman
772-388-6496
www.phmintl.com
Contact
Categories