As part of a larger strategy to ensure healthcare costs remained affordable and sustainability of the healthcare system, the Ministry of Health (MOH) has published fee benchmarks for 222 common surgical procedures by private surgeons. This latest initiative complements earlier measures such as the introduction of a co-payment requirement for new Private Integrated Shield Plan Riders. It is important to note that fees quoted above benchmark does not necessary means overcharging. However, doctors who are charging above the benchmarks will have to explain their reasons for doing so when asked, and they should inform the patient and insurance companies before the surgery is performed. One of the advantages of having these benchmarks is that now insurance companies can make use of the guidelines to make their products & claims processes clearer and smoother for patient(s). The need to manage healthcare costs cannot be overstated, as such costs have been rising sharply over the last decade, especially in the private sector. The average total inpatient bills in the private sector had increased by 9% each year over the last 10 years (2007 - 2017), which is almost double the 4.9% increase in bills experienced in the public sector's Class A wards. Other factors such as ageing population, increasing healthcare usage and medical inflation have also contributed to the increased in healthcare spending from $11.4 billion in 2011 to $20.7 billion in 2016. And there may be more to come as Dr. Lam Pin Min, Senior Minister of State for Health, told the media that the committee may look into consultation fees and anaesthetist fees next. Speaking of consultation fees. Did you know that if you are a customer of AXA Shield, you will get to enjoy the following value-added services? 1. Under Panel General Practitioner (GP) Clinics* - GP consultation rate at $12 per consultation - GP consultation rate surcharge applies for 24/7 hours clinic from 0000hrs to 0829 hrs at $35 per consultation * Excludes medications, prescriptions, investigation and surcharges. 2. Panel Specialist ("SP") Clinics* - Specialist standard consultation at $100 per consultation - Follow-up standard consultation at $70 per consultation * Excludes medications, prescriptions, investigation and surcharges.
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Jason Ow S. H.Senior Financial Consultant Archives
September 2022
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