KUALA LUMPUR: The current healthcare business model, which is driven by incentives given by insurance providers based on patient visits are causing the rise in healthcare expenditure, according to a survey from Frost & Sullivan.
The business research and consultancy firm said in a statement Thursday, Oct 21 that the present model results in 90% of a country's healthcare expenditure being spent on only 30% of its population, thereby causing the rise in healthcare cost.
'The healthcare system needs to embrace a paradigm shift to incentivize the wellness condition of a person rather than merely treating diseases or sick-care' said Frost & Sullivan senior vice president Reenita Das.
Frost & Sullivan also said that under the current healthcare system, physicians' attention is only focused on 20% of a person's life, whilst another 80% goes neglected.
Medical hours are spent on treating symptoms or diseases rather than ensuring the overall wellness of a person, it added.
'There are huge opportunities for healthcare providers, medical devices sector, pharmaceutical sector and other healthcare verticals to tap into this 'lucrative but yet to be explored area' of a person's life,' it said.
Frost & Sullivan said it expected the cost of healthcare to continue rising as the global ageing population increases under the current healthcare model, unless there is a paradigm shift in the healthcare system towards a patient-centric model.
The business research and consultancy firm said in a statement Thursday, Oct 21 that the present model results in 90% of a country's healthcare expenditure being spent on only 30% of its population, thereby causing the rise in healthcare cost.
'The healthcare system needs to embrace a paradigm shift to incentivize the wellness condition of a person rather than merely treating diseases or sick-care' said Frost & Sullivan senior vice president Reenita Das.
Frost & Sullivan also said that under the current healthcare system, physicians' attention is only focused on 20% of a person's life, whilst another 80% goes neglected.
Medical hours are spent on treating symptoms or diseases rather than ensuring the overall wellness of a person, it added.
'There are huge opportunities for healthcare providers, medical devices sector, pharmaceutical sector and other healthcare verticals to tap into this 'lucrative but yet to be explored area' of a person's life,' it said.
Frost & Sullivan said it expected the cost of healthcare to continue rising as the global ageing population increases under the current healthcare model, unless there is a paradigm shift in the healthcare system towards a patient-centric model.
No comments:
Post a Comment