Medical Scheme Healthcare Reform in Limbo: An Analysis
As the wait for National Health Insurance (NHI) continues, medical scheme healthcare reform is at a standstill, causing members to pay 25% to 30% more for membership. Christoff Raath, joint-CEO of Insights Actuaries & Consultants, highlighted the impact of the broken regulatory system on private healthcare users. The lack of necessary reforms has resulted in increased costs for members.
While the focus remains on NHI, crucial short-term reforms are being neglected. The regulatory structure for medical schemes needs urgent attention to ensure affordability and efficiency. The fractured system has taken a toll on schemes like Health Squared, emphasizing the need for a risk equalisation mechanism.
With NHI implementation being a long way off, medical schemes must explore self-help strategies to address financial challenges. By collaborating and adopting innovative reforms, the industry can adapt to the changing healthcare landscape. Despite the uncertainties, there are opportunities for improvement and cost-effectiveness.
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