KUALA LUMPUR: The Association of Private Hospitals of Malaysia (APHM) will present findings from an independent study on medical cost inflation to the Health Ministry next month.
According to APHM, the study, commissioned last year, is part of its ongoing efforts to develop evidence-based and sustainable solutions to manage rising healthcare costs.
"Since December 2024, we have engaged key ministries, agencies, policymakers, and stakeholders to address this issue. The study aims to pinpoint the factors driving medical cost inflation in Malaysia," it said in a statement today.
According to a 2023 report by Bank Negara Malaysia, the country's medical inflation rate stood at 12.6 per cent, more than double the global average of 5.6 per cent.
However, APHM clarified that this rate for private hospitals might not accurately represent true healthcare cost increases, stressing the difference between general healthcare cost rises and medical inflation.
"The widely cited figures often do not reflect year-on-year inflation of identical items but instead capture a broader increase in healthcare expenses," it added.
To enhance cost transparency, APHM recommended that member hospitals implement drug price transparency in outpatient departments by April 2025.
This initiative aligns with the Health Ministry's broader strategy to manage healthcare costs more effectively.
The association also lauded collaborative efforts between private hospitals and the government during the Covid-19 pandemic, such as public-private partnerships and treatment outsourcing via ProtectHealth Corporation.
"Private hospitals in Malaysia remain committed to working with the Health Ministry to alleviate the burden on patient care," it said.