FUNDING & BUDGET

Back to homepage FUNDING & BUDGET

 

MIGMED – The Specialist of Medical Tourism in Canada

FUNDING & BUDGET

 

FUNDING

One of the first issues to be addressed when preparing a care project abroad is the funding problem. Indeed, the costs to get treatment are sometimes extremely important and not everyone has a few thousand in the bank, ready to be used.

It is therefore important to choose the right financing in order not to explode the total cost of the project.

You must first identify the opportunities available to you and enter the cost of borrowing and repayment terms. Some credit cards may have interest charges up to 29%. It is important to take this into account in your budget.

Here is a list of examples of possible funding options:
· Credit card
· Personal bank loans
· Accord D financing
· Line of credit
· New Mortgage or Mortgage
· Borrowing from friends or family
· Socio-financing
· Disposition of investments (whether registered or not)
· Other …

In the coming months, MIGMED will present a description of each of these possible solutions with advantages and disadvantages for each.

 

BUDGET

The other financial element to consider when planning your care project is the budget. The latter is essential in order to give you a clear picture of your trip and predict the unpredictable.

In the coming months, MIGMED will put on line an interactive tool that will allow you to structure a model budget that will take into account the various expenses to envisage but also the integration of the cost of the financing adopted.

For the time being, keep in mind that you need to establish your budget by considering items such as:
· Registration with the Medical Tourism Agency (if applicable)
· Direct costs related to the proposed program of care (in C $ to account for the exchange rate)
· An additional 20% to 30% of your total program to cover medications not included or extras or unexpected events that may occur
· Air or train ticket (if applicable)
· Accommodation (if applicable and if not included in the cost of the program)
· On-site transportation (taxi or other, if applicable)
· Transportation to the airport and parking of your car during your stay
· Food (if applicable, include only the non-integrated portion of the program)
· General tourism costs
· Project financing costs
· Miscellaneous
 

Want a sponsored link? Check our membership and partnership section.

Help us to help you better!

info@migmed.com