Peter Chow’s Post

Time flies and it is 1 December today and last month of the year! As we come to a close of year 2023, Mercer Marsh Benefits Health Trends report which has been released recently revealed some astonishing projections for Malaysia's medical trends especially in 2024! According to the report, Malaysia's medical trend is set to soar to new heights, with a projected increase of 14.0% in 2024. In response to this trend, organisations are taking proactive measures to combat and contain the rising medical costs, among others; - Exploring innovative strategies such as alternative funding mechanisms, such as self-funding to ensure cost sustainability. - Driving utilisation towards cost-efficient medical networks and providers, as well as sharing the burden of medical costs with their employees through co-sharing premiums or deductibles. - Prioritising preventive measures and reduce future medical expenses through preventative care by having sustainable physical and mental well-being programmes. - Looking at benefits plan design and this is where organisations can revisit the power of flexible benefits design! Indeed, the healthcare outlook in Malaysia is looking both challenging and exciting. Let's join hands to navigate these trends in creating a healthier and more sustainable future for everyone. Feel free to reach out for a chat as we look forward to welcoming the new year! https://lnkd.in/gzjJDmFt #HealthcareTrends #MedicalCosts #MercerMarshBenefits

🚨 Malaysia's Healthcare Dilemma: Tackling Brain Drain 🚨 Just came across an insightful article on Malaysia's healthcare system by Jachintha Joyce, highlighting the pressing issue of brain drain. As a pediatrician deeply invested in our healthcare system, this topic resonates with me on multiple levels. 🌏 The Issue: Malaysia faces a significant challenge with the emigration of healthcare professionals seeking better opportunities abroad. This brain drain leaves our local healthcare system strained and impacts the quality of care for our citizens. 📉 Why It Matters: When top talent leaves, we lose not just their skills but also the potential for innovation and improved healthcare outcomes. This affects everyone, from patients to remaining healthcare workers who are overburdened. 💡 Possible Solutions: Competitive Compensation: Offering salaries and benefits that are competitive on a global scale. Professional Development: Investing in continuous education and training opportunities. Work Environment: Creating supportive and collaborative work environments to boost job satisfaction. 👩⚕️ Personal Reflection: As someone who is deeply involved in the healthcare sector, I've seen firsthand the dedication and challenges faced by our local healthcare heroes. It's crucial that we address these issues head-on to ensure a sustainable and robust healthcare system. Let's work together to create a healthcare environment that not only retains but also attracts talent. 💪 #Healthcare #Malaysia #BrainDrain #TalentRetention #HealthcareInnovation #Productivity #ContinuousImprovement Would love to hear your thoughts on this! 💬

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Medical Channel Asia spoke to Syed Saddiq Syed Abdul Rahman, Malaysian United Democratic Alliance (MUDA) founder and Muar member of Parliament (MP), who laid out his opinions on the healthcare system in Malaysia. Here's what he had to say. Watch on YouTube: https://lnkd.in/gPDU7nDb Read the article on Medical Channel Asia: https://lnkd.in/g7MAb_aE (For Healthcare Professionals only) #healthcare #healthcarereform #healthcarepolicy #healthcaresystem #medicalcare #healthcarefinance #malaysia

Today, let's shine a spotlight on health and well-being, recognising its pivotal role in Malaysia's journey towards Sustainable Development Goals (SDGs). Malaysia's commitment to SDG 3 - Good Health and Well-being is evident in our efforts to ensure accessible, affordable, and quality healthcare for all. From innovative healthcare initiatives to community-based programs, we're making strides in achieving universal health coverage and addressing health disparities. As we navigate global challenges, the importance of health resilience becomes paramount. Let's continue fostering collaboration, investing in healthcare infrastructure, and promoting health education. Together, we can build a healthier, more resilient Malaysia for generations to come.

𝐌𝐀𝐋𝐀𝐘𝐒𝐈𝐀’𝐒 𝐌𝐄𝐃𝐈𝐂𝐀𝐋 𝐃𝐄𝐕𝐈𝐂𝐄𝐒 𝐈𝐍𝐃𝐔𝐒𝐓𝐑𝐘: 𝐈𝐌𝐌𝐄𝐍𝐒𝐄 𝐆𝐑𝐎𝐖𝐓𝐇 𝐏𝐎𝐓𝐄𝐍𝐓𝐈𝐀𝐋 The medical devices industry in Malaysia is poised for growth and development, well supported by a conducive environment for manufacturing and investment, and a healthcare system that is mature and globally recognized. Notably, Malaysia’s healthcare system has been lauded by the World Health Organization (WHO) as a sustainable model which is accessible and affordable by all, served by both the public and private sectors. The Government continues to prioritize national health and wellbeing as it has been laid out as one of the three main themes of the Twelfth Malaysia Plan (12MP) 2021-2025 and will undertake a medium-to long-term reform of its healthcare sector while gradually aiming to increase healthcare spending every year towards maintaining a world-class healthcare system. At Iftitah, as we work with a global manufacturer of medical devices, we’re fully support the Malaysia’s healthcare industry and patients’ well-being to better meet the healthcare needs in the near future. Sources: https://www.mida.gov.my #Iftitah #IftitahHeadlines #CurrentNews

Kamal Amzan, Dr’s insights on Malaysia’s healthcare system and the proposed reforms are timely and resonate deeply with the challenges and opportunities facing both our public and private sectors. I fully support his advocacy for a value-based healthcare model, which prioritizes patient outcomes and satisfaction, as this can indeed redefine how we manage healthcare financing and delivery. This approach is crucial for ensuring that all Malaysians can access high-quality healthcare services without facing financial hardships. One significant aspect of Dr. Kamal Amzan’s proposal is the integration of successful international models, like those of Singapore, Taiwan, and Sweden. These models provide a strategic blueprint that could be adapted to suit our unique needs, particularly in balancing cost, quality, and access across our healthcare system. For instance, Singapore’s healthcare financing system, which involves mandatory health savings accounts, government-funded healthcare savings, and insurance for large hospital bills, can be a model for us to develop a system that is both sustainable and equitable. Additionally, leveraging technology such as telemedicine and AI-driven diagnostics can bridge the gap between urban and rural healthcare services. These technologies ensure that advanced diagnostic tools are not just confined to urban elite hospitals but are also accessible in rural and underserved areas, thereby democratizing health access. However, the disparity in treatment costs and access between government and private hospitals remains a challenge. Government hospitals are significantly cheaper and heavily subsidized, yet often struggle with high patient loads and resource limitations. In contrast, private hospitals, while offering quicker and potentially higher quality care, may not be affordable for all Malaysians. To bridge this gap, the government could consider partnerships with private sectors to manage and possibly subsidize certain treatments that could be administered through private facilities. Such collaborations could help manage the patient load and distribute healthcare resources more evenly. Additionally, incentivizing private hospitals to adopt the value-based care model could align their operations more closely with the overarching goals of national healthcare policy, focusing on broad patient outcomes rather than service volume. Dr. Amzan's call for reforms comes at a critical time and has the potential to catalyze significant improvements in Malaysia’s healthcare landscape. It is imperative that we consider these reforms not just from a policy standpoint but as urgent, actionable strategies that involve all stakeholders in the healthcare ecosystem. Together, we can work towards a more balanced, equitable, and advanced healthcare system in Malaysia.

Malaysia's healthcare system is under pressure due to a shortage of medical professionals. With only 3,131 medical graduates in 2022, down from 6,147 in 2017, the need for dedicated doctors is more urgent than ever. Malaysia's growing and ageing population is increasing the demand for healthcare services, especially in underserved rural areas. People rely heavily on government healthcare, and the shortage of doctors affects their chances of receiving proper medical care. This is your call to be part of the solution! Come check out our Open Day on the 17th of August 2024 to discover your path with Newcastle University Medicine Malaysia. https://lnkd.in/gaCp2Vwr *Statistics source: The Malaysian Reserve & New Straits Times #WeAreNCL #newcastleuni

Driven by a 10 % real increase in funding, the Malaysian public healthcare sector will grow in 2024. Here are some key dynamics that will be behind this growth in 2024: ➡ The authorities plan for a massive boost in development expenditures, with 22% real increase in funding. The majority of this budget will go to upgrades of clinics and hospitals.   ➡ As the public sector is expected to have some issues in meeting strong patient demand, public-private partnerships will become more important in care delivery.     ➡ The MOH plans to launch various reforms highlighted in the Health White Paper. The first step will be the establishment of a Health Transformation Office. Read our review of public healthcare in Malaysia, including details of government policy, public findings, patient trends and business implications: https://lnkd.in/ejJQcp8h #malaysia #malaysiahealthcare #healthcaresector  

TODAY 10am Astro AWANI 🎥 MANAGING HEALTHCARE SHORTAGES & COSTS The Ministry of Health (MOH) received RM41.22 billion under Budget 2024 compared to RM 36.3 billion the year before. Personal healthcare expenditures in Malaysia are also forecast to double to RM 13.2 billion by 2028. Meanwhile, the national health service is experiencing continued acute shortage of medical staff and patient overcrowding. This has popularised private primary care services such as private clinics, which offer convenience and fairly affordable prices. As of 2022, there were more than 9,800 registered private health clinics. Dr Azizan Abdul Aziz, President, Malaysian Medical Association (MMA) discusses possible solutions for resolving Malaysia’s public healthcare talent woes as well as strategic interventions to keep private primary care services affordable for the Rakyat. . . . . . . #NiagaSpotlightWithTehminaKaoosji #501Awani #Healthcare #PublicHealthcare #PrimaryCare #Clinic #Medical #MedicalIndustry #Malaysia