Healthcare spending in Malaysia to jump 50-75% for the long term: report | Healthcare Asia Magazine
, Malaysia
192 views

Healthcare spending in Malaysia to jump 50-75% for the long term: report

This comes as the government aims to be aligned with the WHO’s recommended healthcare spending of 7% of GDP.

Healthcare expenditure in Malaysia could surge 50-75% as the sector in 2018 saw allocations increase to US$7.1b (RM29b), up 7.8% YoY, according to a report by UOB Kay Hian.

This is part Malaysian government’s goal to achieve its long term intention to be aligned with the World Health Organisation’s recommended healthcare spending of 7% of GDP. Healthcare now accounts for 10% of Budget Malaysia 2019.

The immediate areas of spending and visibility surrounds initiatives focused on providing a much needed safety net to the bottom 40% of the population. Under the mySalam scheme, it would qualify 3.7m recipients to receive equivalent treatment coverage to basic private health insurance schemes.

However, mySalam, could give a further surge to the public healthcare sector.

“We think there could be a possibility of an overspill of patients into the private healthcare system. It could boost patient volume growth that was already staging an organic recovery in 2018,” said Philip Wong, analyst at UOB Kay Hian.

Wong said that mySalam could also prompt some to switch to private hospitals. 

Join Healthcare Asia Magazine community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

CHI accelerates the development and adoption of health tech firm innovations
The Centre for Healthcare Innovation invests $2.4m (US1.8m) to set a framework that can test the safety of market-ready innovations.
Catholic Medical Center trailblazing big data and AI adoption in Korean healthcare
Its flagship Seoul St. Mary’s Hospital leads the seamless integration of cutting-edge technology across CMC’s eight affiliate hospitals.
OUE Healthcare poised to capture foreign patient demand for specialist care services
The healthcare group recently partnered with three medical specialist groups including two leading respiratory and cardiothoracic surgery specialist practices.
iClaim boosts Thailand’s health insurance claims in 10 seconds
IT expert Piyawat Maneenual sets up a game-changing platform that allows data transfer from hospitals to insurance companies in real-time.