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Insurance portability research identifies gaps, |
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Posted on 30 May 2008 A study on the portability of health insurance funded by the German Technical Cooperation Agency (GTZ) and undertaken by PRIMEX has been completed, endorsing recommendations on the improvement of the country’s medical tourism industry.
Working in partnership with the Philippine Diplomatic and Trade Missions in the USA, UK, Italy, Germany, Taiwan, Japan, and Korea and in competitor countries such as Malaysia, Thailand, and Singapore, the PRIMEX Research Team conducted the study which aimed to: (i) find out from insurance companies what it would take for them to cover treatments of their clients in the Philippines, what most players in this industry look for, and what the most important players need; and (ii) find out from patients what it would take for them to travel to the Philippines for treatment. The research focused on the (i) types and degree of market coverage of Public and Private Insurance and their key features, (ii) policy and other barriers to portability, (iii) market and competitor questions, and (iv) options for Philippine government and recommended next steps. The study found out, among others, that the Philippines’ competitor countries in the medical tourism industry know what their target markets are and have developed effective marketing strategies to attract medical tourists. Hence, the Study recommended the development of competitive medical tourism products for Philippine industry players focusing marketing efforts on the strategically-identified target markets, among others. The research was premised on the findings of earlier studies, which identified the portability of public and private insurance as a stumbling block in the Philippines’ bid to lure patients and retirees into the country. |
The research complemented the work of the Task Force on Public-Private Partnerships on Globally Competitive Industries, created under Executive Order No. 372 issued on 18 October 2004, which sought to address data gaps in the profile and preferences of the foreign market and the role and mechanics of insurance portability. 