Geoffrey Williams says this will prevent any unethical rise in medical costs leading to higher insurance premiums.
Read More:
https://www.freemalaysiatoday.com/category/nation/2024/12/23/private-healthcare-sector-needs-independent-regulator-says-economist/
Laporan Lanjut:
https://www.freemalaysiatoday.com/category/bahasa/tempatan/2024/12/23/sektor-jagaan-kesihatan-swasta-perlu-pengawal-selia-bebas-kata-ahli-ekonomi/
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Read More:
https://www.freemalaysiatoday.com/category/nation/2024/12/23/private-healthcare-sector-needs-independent-regulator-says-economist/
Laporan Lanjut:
https://www.freemalaysiatoday.com/category/bahasa/tempatan/2024/12/23/sektor-jagaan-kesihatan-swasta-perlu-pengawal-selia-bebas-kata-ahli-ekonomi/
Free Malaysia Today is an independent, bi-lingual news portal with a focus on Malaysian current affairs.
Subscribe to our channel - http://bit.ly/2Qo08ry
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NewsTranscript
00:00An economist has called for an independent regulator to monitor the private healthcare sector
00:06to prevent any unethical rise in medical costs leading to higher insurance premiums.
00:11Jeffrey Williams said an independent body would ensure greater transparency
00:16in the pricing regulations of private hospitals.
00:19He said the private healthcare system is not incentivized to curb higher medical costs
00:24as it could affect their revenues.
00:27He added that private hospitals and insurers are unaffected by the rising costs
00:31as long as they can maintain profits by passing these higher costs on to patients.
00:36He was responding to Bank Negara Malaysia's announcement
00:39that insurance and takaful operators must spread out the increase in premiums
00:43over a minimum of three years until the end of 2026
00:47following a 15% rise in Malaysia's medical inflation this year.
00:52Meanwhile, economist Niaz Asadullah said declining quality and overcrowding in public hospitals
00:58have pushed more patients towards private hospitals,
01:01inflating insurance claims and premiums.
01:04He said the government should invest in public hospitals
01:07and make them a viable alternative to private care.