Using cryptocurrencies and transactions in medical tourism

Abstract

PurposeThis study aims to examine the use of cryptocurrencies and transactions in medical tourism and to discuss how this use provides advantages to healthcare institutions and states that provide medical tourism services.Design/methodology/approachThis study is a descriptive, cross-sectional, correlational and methodological quantitative research. Data were collected through a questionnaire with 555 potential medical tourists. Data were analyzed with Pearson correlation and hierarchical regression using STATA.FindingsThe correlation results showed a statistically significant high and positive correlation between the use of cryptocurrencies and transactions in medical tourism and the medical tourist's intention. The variables that contributed to the medical tourist's intention were monetary risk minimization, access-security and malpractice-civil trial in the highest order of contribution. Accordingly, the monetary risk minimization was the most contributing to the medical tourist's intention.Originality/valueThis study provides a piece of initial empirical evidence on the contribution of using cryptocurrencies and transactions in medical tourism.

The Determinants of Dividend Policy: An Empirical Study of Inconsistent Distribution of Dividends Using Balanced Panel Data Analysis

“…This study tested ten predictors that affect dividend policy by using the hierarchical panel data estimates such as panel A and B to analyzed the econometric model (Çapar, 2020;Sari & Leon, 2020). The equation of the estimation model is as follows:…”

The Benefits of Blockchain Technology for Medical Tourism

“…Ref [15] reveal that blockchain technology can ensure disintermediation in the medical tourism industry, increase clarity in communication, trust and transparency, mitigate a key challenge of cost rising, and facilitate collaboration between the stakeholders. Ref [16] focuses on the importance of cryptocurrency use in the medical tourism industry and statistically confirms the positive correlation between the use of cryptocurrencies and intentions of medical tourists. Yet, further academic research is needed to provide full understanding of the impacts of blockchain technology on medical tourism.…”

“…Blockchain technology is a new promising technology that is expected to significantly impact the medical tourism industry [12]. Several medical tourism destinations have accepted blockchain based cryptocurrencies and their transactions as their priority to gain the competitive advantage in terms of security and transparency [16].…”

“…Furthermore, Ref [14] focus on the secure keeping and management of healthcare data emphasizing that blockchain can be effectively used as a database for all medical data or as a storing place of all hashes of medical data that are kept outside blockchain in a conventional or distributed database. Ref [16] argues blockchain based cryptocurrencies and transactions positively affect medical tourism in terms of protecting stakeholders from monetary risk, facilitating access to medical services, providing evidence in a possible malpractice case, and increasing competitive advantage.…”

“…Cryptocurrencies facilitate easy, direct, and safe peer-to-peer transactions without the need for a trusted third party [55]. Therefore, both medical tourists and medical service providers could benefit from secure payments, easy use, rapid processing, reduced waiting times, and secure archiving of health records [16]. In addition, cryptocurrencies and transactions provide efficiency in international transfer with neither storage cost, nor transfer fee [56] to the medical tourists and a competitive advantage to the medical service providers [57].…”