Essentially, medical tourism is the practice of traveling beyond your home country's borders to seek medical care in another nation -- usually at a much lower cost. This is especially true for surgeries not typically covered by health insurance, such as cosmetic procedures like facelifts and breast augmentation.

Dozens of countries officially recognize medical tourism as a national industry, and many overseas hospitals offer five-star care, such as Bumrungrad in Bangkok, Thailand.

How much can you save? Here are some eye-popping numbers, courtesy of the University of Delaware:

"The cost of surgery in India, Thailand or South Africa can be one-tenth of what it is in the United States or Western Europe, and sometimes even less. A heart-valve replacement that would cost $200,000 or more in the U.S., for example, goes for $10,000 in India -- and that includes round-trip airfare and a brief vacation package. Similarly, a metal-free dental bridge worth $5,500 in the U.S. costs $500 in India, a knee replacement in Thailand with six days of physical therapy costs about one-fifth of what it would in the States, and Lasik eye surgery worth $3,700 in the U.S. is available in many other countries for only $730. Cosmetic surgery savings are even greater: A full facelift that would cost $20,000 in the U.S. runs about $1,250 in South Africa."

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