Private healthcare sector needs independent regulator, says economist

Free Malaysia Today

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/  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   ------------------------------------------------------------------------------------------------------------------------------------------------------ Check us out at https://www.freemalaysiatoday.com Follow FMT on Facebook: https://bit.ly/49JJoo5 Follow FMT on Dailymotion: https://bit.ly/2WGITHM Follow FMT on X: https://bit.ly/48zARSW  Follow FMT on Instagram: https://bit.ly/48Cq76h Follow FMT on TikTok : https://bit.ly/3uKuQFp Follow FMT Berita on TikTok: https://bit.ly/48vpnQG  Follow FMT Telegram - https://bit.ly/42VyzMX Follow FMT LinkedIn - https://bit.ly/42YytEb Follow FMT Lifestyle on Instagram: https://bit.ly/42WrsUj Follow FMT on WhatsApp: https://bit.ly/49GMbxW  ------------------------------------------------------------------------------------------------------------------------------------------------------ Download FMT News App: Google Play – http://bit.ly/2YSuV46 App Store – https://apple.co/2HNH7gZ Huawei AppGallery - https://bit.ly/2D2OpNP  #FMTNews #HealthCare #InsurancePremiums

Transcript

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.

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Transcript

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