'Medical Travel is Going to Be Part of the Solution'

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But we had a great experience. When we were leaving my wife said, "If I or anyone in my family needs surgery, we're coming here." Women make the medical decisions for families in the U.S., and that's when I first thought there could be a business opportunity in medical travel.

How big of an opportunity?

We think this is a long-term blue ocean. There is going to be a growing market to support medical travel over the next 10-20 years. Here in the U.S. you have the "Silver Tsunami:" In 2008, 365 Americans an hour will turn 62. Over half are selecting early Social Security and many do not have employer-sponsored medical plans. The number turning 62 goes to 1,400 an hour by 2010 and the numbers continue to stack up until the peak year of 2017.

What's the impact of those demographic changes on medical tourism?

It leads to a perfect storm: increasing demand and decreasing supply. We think that [over the] long term medical travel is going to be part of the solution. It may not be the only solution, but it's going to be part of it.

And how is Blue Cross& Blue Shield of South Carolina going to do that?

We are in the process of developing a network of overseas hospitals. Today we have seven hospitals in the network. We see a potential network of probably 10 to 12. We are talking to hospitals in India right now. And we're looking at South Korea.

How do you make sure that the hospitals are good enough?

They're all accredited. And we go there and do a similar process as I did with Bumrungrad. In Singapore, I've been to all three of the hospitals from top to bottom.

Why do it yourself?

Because medical travel is an emerging trend, we don't feel comfortable contracting out that on-site survey.

Would you go to an overseas hospital yourself?

I had a colonoscopy at Bumrungrad three weeks ago. I had the discussion with my family practitioner here before I left. I had a good experience, I didn't feel a thing. The doctor trained at the University of San Francisco medical center, spoke perfect English, and had a great sense of humor. I had no issues at all.

What was the cost?

It cost $642.

And if you had done it in South Carolina?

It would have cost between $2,500 and $3,300.

Einhorn is Asia regional editor in BusinessWeek's Hong Kong bureau .