Latest news with #JMCPHC
Free Malaysia Today
a day ago
- Health
- Free Malaysia Today
Joint ministerial committee to tackle rising healthcare costs
Finance minister II Amir Hamzah Azizan (left) and health minister Dzulkefly Ahmad attending the first meeting of the joint ministerial committee on private healthcare costs. (KKM pic) PETALING JAYA : The finance and health ministries have officially established the joint ministerial committee on private healthcare costs (JMCPHC) in a move aimed at ensuring affordable private healthcare in Malaysia. The committee, which held its first meeting today, aims to coordinate a whole-of-nation approach in managing medical inflation and improving transparency and sustainability within the private healthcare sector, said the ministries in a statement. Co-chaired by finance minister II Amir Hamzah Azizan and health minister Dzulkefly Ahmad, the JMCPHC includes representatives from both ministries and Bank Negara Malaysia (BNM). The committee will be supported by a consultative council which brings together private hospitals, healthcare professionals, insurance and takaful providers, consumer advocacy groups, and academics to provide expert input and technical advice to guide the committee's initiatives. 'This joint committee reflects our commitment to building a private healthcare system that is sustainable, transparent, and delivers real value for the rakyat,' said Amir. Dzulkefly said the committee aims to reduce overcrowding in public hospitals and improve access to private healthcare by embracing value-based care and expanding cost-effective options. The committee will also look to improve existing programmes such as Rakan KKM, which offers 'premium economy' services at selected public hospitals for elective outpatient, daycare and inpatient services. The JMCPHC builds upon previous groundwork, including BNM's implementation of co-pay requirements, interim measures to cushion the impact of medical premium adjustments for policyholders affected in 2024-2026, and the RESET framework. The RESET framework covers five strategic thrusts to address medical inflation – revamp medical and health insurance/takaful (MHIT), enhance price transparency, strengthen the digital health ecosystem, expand cost effective options, and transform provider payments. One of the committee's immediate priorities includes the development of a base MHIT product to ensure affordability and sustainability.
Sinar Daily
a day ago
- Business
- Sinar Daily
Finance Ministry, Health Ministry form joint committee to tackle rising private healthcare costs
PUTRAJAYA - The Finance Ministry (MOF) and the Health Ministry (MOH) have formalised the setting up of the Joint Ministerial Committee on Private Healthcare Costs (JMCPHC), building on ongoing engagements among various stakeholders, to address rising private healthcare and medical inflation. The committee, which convened its first meeting today, will coordinate a whole-of-nation approach to collaboratively develop and implement measures aligned with value-based healthcare. The JMCPHC is co-chaired by Finance Minister II Datuk Seri Amir Hamzah Azizan and Health Minister Datuk Seri Dr Dzulkefly Ahmad, with committee members consisting of representatives from MOF, MOH, and Bank Negara Malaysia (BNM). The committee will be supported with inputs and technical advice by a Consultative Council, comprising representatives from key stakeholders across the private healthcare ecosystem, including private hospitals, insurance providers and Takaful operators (ITOs). "Rising healthcare costs are a major concern for Malaysians, and the Madani Government is taking the lead to address it. This joint committee reflects our commitment to work with all stakeholders to shape a private healthcare system that is sustainable, transparent, and delivers real value. "At its core, this is about protecting the wellbeing of Malaysians and strengthening the resilience of our nation," Amir Hamzah said in a joint statement by the two ministries today. He said the JMCPHC builds upon previous groundwork, including BNM's implementation of co-pay requirements, interim measures to cushion the impact of medical premium adjustments for policyholders affected in 2024-2026, and the RESET framework. It covers five strategic thrusts to address medical inflation, namely: Revamp Medical and Health Insurance/Takaful (MHIT); Enhance price transparency; Strengthen the Digital Health ecosystem; Expand cost-effective options; and Transform provider payments. RESET is broadly endorsed and supported by MOF, MOH, BNM, and key industry stakeholders as the strategic framework to address rising private healthcare and insurance costs. Moving forward, the committee will be the primary platform to guide and monitor the implementation of the initiatives under RESET. Work on the crucial RESET initiatives has commenced, particularly on the development of a base MHIT product that balances affordability and sustainability, the development of Diagnostic-Related Group (DRG) payments for phased implementation, and improving the transparency of pricing information. For current medical insurance policyholders, these measures are intended to improve price transparency while offering more affordable options. Over the tenure of this committee, measures to expand affordable private healthcare access will be pursued, including by strengthening the role of primary healthcare and a continuum of healthcare providers, building upon measures which have been announced previously, such as the Rakan KKM initiative. Dzulkefly said the jointly developed RESET framework includes ongoing and planned efforts by the MOH to strengthen Malaysia's healthcare system for all. "The framework also signifies our 'whole-of-nation' commitment to implementing solutions like value-based care, which prioritises health outcomes through the phased implementation of Diagnostic-Related Groups (DRG) and the expansion of cost-effective healthcare options for the rakyat. "Such initiatives will deliver tangible benefits for all Malaysians who benefit through reduced overcrowding and congestion of public hospitals and clinics," he said. The JMCPHC recognises that the successful implementation of the whole-of-nation RESET initiatives critically relies on multi-stakeholder collaboration. "The Consultative Council is therefore essential, reinforcing the Madani Government's commitment to provide a dedicated platform for key industry stakeholders to work together collaboratively and contribute expertise towards the shared objective of ensuring affordable and accessible private healthcare for all Malaysians while fostering sustainable sector growth," the joint statement said. - BERNAMA
Barnama
a day ago
- Business
- Barnama
MOF, MOH Form Joint Committee To Tackle Rising Private Healthcare Costs
PUTRAJAYA, June 24 (Bernama) — The Ministry of Finance (MOF) and the Ministry of Health (MOH) have formalised the setting up of the Joint Ministerial Committee on Private Healthcare Costs (JMCPHC), building on ongoing engagements among various stakeholders, to address rising private healthcare and medical inflation. The committee, which convened its first meeting today, will coordinate a whole-of-nation approach to collaboratively develop and implement measures aligned with value-based healthcare. The JMCPHC is co-chaired by Finance Minister II Datuk Seri Amir Hamzah Azizan and Health Minister Datuk Seri Dr Dzulkefly Ahmad, with committee members consisting of representatives from MOF, MOH, and Bank Negara Malaysia (BNM). The committee will be supported with inputs and technical advice by a Consultative Council, comprising representatives from key stakeholders across the private healthcare ecosystem, including private hospitals, insurance providers and Takaful operators (ITOs). 'Rising healthcare costs are a major concern for Malaysians, and the MADANI Government is taking the lead to address it. This joint committee reflects our commitment to work with all stakeholders to shape a private healthcare system that is sustainable, transparent, and delivers real value. 'At its core, this is about protecting the wellbeing of Malaysians and strengthening the resilience of our nation,' Amir Hamzah said in a joint statement by the two ministries today. He said the JMCPHC builds upon previous groundwork, including BNM's implementation of co-pay requirements, interim measures to cushion the impact of medical premium adjustments for policyholders affected in 2024–2026, and the RESET framework. It covers five strategic thrusts to address medical inflation, namely: Revamp Medical and Health Insurance/Takaful (MHIT); Enhance price transparency; Strengthen the Digital Health ecosystem; Expand cost-effective options; and Transform provider payments. RESET is broadly endorsed and supported by MOF, MOH, BNM, and key industry stakeholders as the strategic framework to address rising private healthcare and insurance costs.
New Straits Times
a day ago
- Health
- New Straits Times
Finance, health ministries form committee to tackle medical inflation
KUALA LUMPUR: The Finance Ministry and Health Ministry have established a joint ministerial committee to expand on ongoing stakeholder discussions to tackle the escalating costs of private healthcare and medical inflation. The joint ministerial committee on private healthcare costs (JMCPHC), which held its first meeting today, aims to spearhead a "whole-of-nation" strategy in developing and executing initiatives that support value-based healthcare. Co-chaired by Finance Minister II Datuk Seri Amir Hamzah Azizan and Health Minister Datuk Seri Dr Dzulkefly Ahmad, the committee includes representatives from both ministries as well as Bank Negara Malaysia. "The committee will be supported with inputs and technical advice by a consultative council, comprising representatives from key stakeholders across the private healthcare ecosystem. "This includes private hospitals, healthcare professionals, insurance providers and takaful operators (ITOs), consumer advocacy groups and academia," the ministries said in a joint statement. The JMCPHC builds on earlier efforts such as Bank Negara's introduction of co-payment requirements, temporary measures to ease the burden of medical premium adjustments for policyholders between 2024 and 2026, and the RESET framework, which outlines five strategic pillars to tackle rising medical costs. "Moving forward, the committee will be the primary platform to guide and monitor the implementation of the initiatives under the RESET. "Work on the crucial RESET initiatives have commenced, particularly on the development of a base medical and health insurance/takaful (MHIT) product that balances affordability and sustainability, for the development of diagnostic-related group (DRG) payments for phased implementation, and improving the transparency of pricing information," they added. The measures aim to enhance price transparency for existing medical insurance policyholders while providing more affordable healthcare options. They also noted that throughout the committee's tenure, efforts will be made to broaden access to affordable private healthcare. This includes reinforcing the role of primary care and establishing a seamless network of healthcare providers, building on previously announced initiatives like the Rakan KKM programme. Amir Hamzah said the increasing cost of healthcare is a significant concern for Malaysians, and the government is taking proactive steps to tackle the issue. "This joint committee reflects our commitment to work with all stakeholders to shape a private healthcare system that is sustainable, transparent and delivers real value. "At its core, this is about protecting the well-being of Malaysians and strengthening the resilience of our nation," he said. Dr Dzulkefly highlighted that the collaboratively developed RESET framework encompasses both ongoing and upcoming initiatives by the Health Ministry aimed at enhancing Malaysia's healthcare system for everyone. "The framework also signifies our 'whole-of-nation' commitment to implementing solutions like value-based care, which prioritises health outcomes through the phased implementation of DRG and the expansion of cost-effective healthcare options for the rakyat," he added.
New Straits Times
a day ago
- Health
- New Straits Times
Finance, health ministries form joint committee to tackle private healthcare costs, medical inflation
KUALA LUMPUR: The Finance Ministry and Health Ministry have established a joint ministerial committee to expand on ongoing stakeholder discussions to tackle the escalating costs of private healthcare and medical inflation. The joint ministerial committee on private healthcare costs (JMCPHC), which held its first meeting today, aims to spearhead a "whole-of-nation" strategy in developing and executing initiatives that support value-based healthcare. Co-chaired by Finance Minister II Datuk Seri Amir Hamzah Azizan and Health Minister Datuk Seri Dr Dzulkefly Ahmad, the committee includes representatives from both ministries as well as Bank Negara Malaysia. "The committee will be supported with inputs and technical advice by a consultative council, comprising representatives from key stakeholders across the private healthcare ecosystem. "This includes private hospitals, healthcare professionals, insurance providers and takaful operators (ITOs), consumer advocacy groups and academia," the ministries said in a joint statement. The JMCPHC builds on earlier efforts such as Bank Negara's introduction of co-payment requirements, temporary measures to ease the burden of medical premium adjustments for policyholders between 2024 and 2026, and the RESET framework, which outlines five strategic pillars to tackle rising medical costs. "Moving forward, the committee will be the primary platform to guide and monitor the implementation of the initiatives under the RESET. "Work on the crucial RESET initiatives have commenced, particularly on the development of a base medical and health insurance/takaful (MHIT) product that balances affordability and sustainability, for the development of diagnostic-related group (DRG) payments for phased implementation, and improving the transparency of pricing information," they added. The measures aim to enhance price transparency for existing medical insurance policyholders while providing more affordable healthcare options. They also noted that throughout the committee's tenure, efforts will be made to broaden access to affordable private healthcare. This includes reinforcing the role of primary care and establishing a seamless network of healthcare providers, building on previously announced initiatives like the Rakan KKM programme. Amir Hamzah said the increasing cost of healthcare is a significant concern for Malaysians, and the government is taking proactive steps to tackle the issue. "This joint committee reflects our commitment to work with all stakeholders to shape a private healthcare system that is sustainable, transparent and delivers real value. "At its core, this is about protecting the well-being of Malaysians and strengthening the resilience of our nation," he said. Dr Dzulkefly highlighted that the collaboratively developed RESET framework encompasses both ongoing and upcoming initiatives by the Health Ministry aimed at enhancing Malaysia's healthcare system for everyone. "The framework also signifies our 'whole-of-nation' commitment to implementing solutions like value-based care, which prioritises health outcomes through the phased implementation of DRG and the expansion of cost-effective healthcare options for the rakyat," he added.
