Greater cooperation between the public and private healthcare sectors, insurers and hospitals is needed to control rising medical inflation and keep healthcare affordable, Allianz Life Insurance Malaysia CEO Giulio Slavich said.
He warned that sustained increases in medical costs could eventually make healthcare unaffordable for more Malaysians, particularly those paying significant expenses out of pocket.
Allianz urges healthcare stakeholders to work together as costs rise
Slavich said more than one-third of Malaysia’s total health expenditure is currently paid directly by patients. This leaves some Malaysians vulnerable to financial stress when unexpected medical needs arise, particularly when they are faced with treatment costs that exceed their savings or insurance coverage.
He called for all stakeholders to work together on solutions that can expand access to quality treatment while keeping costs manageable.
The Allianz executive said collaboration across the healthcare ecosystem is essential to ensure more Malaysians can receive appropriate treatment without facing severe financial pressure. The comments come as medical inflation continues to challenge insurers, hospitals and patients.
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