Government and Stakeholders Contribute RM60 Million to Accelerate Health Reforms
PETALING JAYA: The government, along with insurance and takaful operators and private hospitals, will contribute RM60 million to accelerate health reforms, says Bank Negara Malaysia.
Funding for Diagnosis-Related Group Pricing System and Medical Insurance/Takaful Product
The allocation will fund the implementation of the diagnosis-related group pricing system, which will help to improve the transparency and fairness of medical billing. The system will group medical procedures into categories based on their complexity and the resources required to perform them, allowing patients to compare prices and make informed decisions about their care.
The allocation will also fund the development of a base medical and health insurance/takaful product, which will cover essential healthcare needs and provide a more affordable and comprehensive insurance option for policyholders aged 60 and above.
Interim Measures to Mitigate Medical Insurance Premium Hikes
The central bank has also announced interim measures to mitigate a 40% to 70% hike in medical insurance premiums. These measures include greater transparency in drug prices, advancement of digitalisation to enable sharing of electronic medical records, and strategic purchasing by both public and private sectors to reduce cost.
Commitment to Strengthening Efforts to Contain Medical Cost Inflation
Bank Negara Malaysia and all stakeholders are committed to strengthening efforts to contain medical cost inflation effectively. This includes reviewing progress on these efforts, alongside healthcare reforms, to ensure a more sustainable provision of medical insurance/takaful products going forward.
Benefits of the Allocation
The RM60 million allocation will benefit patients by providing them with more affordable and comprehensive insurance options, and by improving the transparency and fairness of medical billing. It will also benefit healthcare providers by providing them with a more sustainable revenue stream and by encouraging them to adopt more efficient and cost-effective practices.
Conclusion
In conclusion, the RM60 million allocation will play an important role in accelerating health reforms and improving the affordability and sustainability of medical insurance/takaful products. By implementing the diagnosis-related group pricing system and developing a base medical and health insurance/takaful product, patients and healthcare providers will benefit from more affordable and comprehensive insurance options.
FAQs
* What is the purpose of the RM60 million allocation?
+ The purpose of the allocation is to accelerate health reforms and improve the affordability and sustainability of medical insurance/takaful products.
* What is the diagnosis-related group pricing system?
+ The diagnosis-related group pricing system is a system that groups medical procedures into categories based on their complexity and the resources required to perform them, allowing patients to compare prices and make informed decisions about their care.
* Who will benefit from the allocation?
+ Patients and healthcare providers will benefit from the allocation. Patients will benefit from more affordable and comprehensive insurance options, and healthcare providers will benefit from a more sustainable revenue stream and by being encouraged to adopt more efficient and cost-effective practices.