Healthcare costs are increasing each day due to normal inflation, new and more expensive medicines and diagnostics equipment, "defence" medicine, lack of control in prices charged by medical providers as well as fraudulent or unreasonably inflated claims.
It is common in Malaysia for medical providers to charge different prices for the similar treatment. If a patient has medical insurance, the prices may be higher. If a patient's insurance policy provides "cashless admission", the bill may be even higher.
Hospital administrators, insurers and the Government need to take steps to control unreasonable escalation in medical costs. However, ultimately the policyholder is most effective in controlling such escalation.
The fear of being sued in a litigious society has resulted in surgeons and physicians practising "defence" medicine. They may recommend numerous diagnostic tests, just in case they remotely overlook an important aspect in their diagnosis. Such elaborate diagnosis using expensive and highly sophisticated equipment may not be considered necessary by other medical practitioners and can be rather expensive.
The patient can help slow down medical inflation by making an informed decision before undergoing the recommended diagnostic tests by asking for the cost, benefit and side effects of such diagnostic tests.
A second opinion may be advisable in a major surgery or when an expensive form of treatment is recommended. There have been cases where second opinions have saved the patient the risk of undergoing an expensive surgery when in reality such surgery was not necessary.
Insurers have some influence over medical cost. In processing medical insurance claims, discussions are held between medical administrators and insurers as to the reasonableness of diagnosis and treatment provided as well as the costs of such procedures. Ultimately, insurers play an important role in keeping your medical costs reasonable.
We insure employees of many organizations in Malaysia. With more than thirty years' experience in health insurance, the company is a leader in health insurance in Malaysia. In September 2004, we ranked second in terms of health insurance sales among all general insurance companies. We also offer a wide range of other types of health and general insurance products.
