Healthcare is one of the booming businesses in Southeast Asia because of the growing population. Southeast Asia is an attractive investment destination for private healthcare providers because of the demographics and the 620 million population. It is a fact that the most profitable private healthcare providers can be found in Thailand, Singapore and Malaysia where there is an impressive medical tourism scheme.
However, it looks like public and private healthcare providers are serving separate client segments simultaneously. It is very rare in the region to find a true partnership between the public and private healthcare providers. A partnership would have been ideal since both are working towards the same goals. They could allocate the tasks and risks to the party that is best able to handle it.
Several countries in Southeast Asia are working to fulfil the goals of the World Health Organization (WHO) towards universal health coverage (UHC). One example is Indonesia that has created a single payer UHC model in 2014 to be able to provide health insurance to its 250 population in the next 5 years. Thailand and Myanmar are also exploring nationwide solutions to improve access to healthcare even in the remote areas.
In most parts of Southeast Asia, government spending on healthcare is growing however there are still emerging economies that spend less of healthcare compared to their counterparts in the European Union. Thailand is the only country that accounts for more than 75% total healthcare funding. In Indonesia, Malaysia and the Philippines, healthcare funding ranges from 40% to 60%.
According to a 2014 study made by the Economist Magazine, the readiness of Southeast countries to do private-public partnership varies considerably because of the differences in demographics, economic development and other factors. Meanwhile, almost all of the Southeast Asian countries have implemented PPP in sectors of economic structures like energy, transport and water.
There is a wide range of options for health insurance in Bangkok to make sure that a variety of illnesses, injuries and ailments are covered. An unbeatable combination of flexibility and convenience is offered by health insurance in Thailand to access generous levels of coverage, responsive service and guaranteed renewability.