On November 8, 2016, the Chinese Ministry of Human Resources and Social Security released the “Internet Plus Human Resources 2020” action plan, specifying that Chinese social security cards will now be capable of payment functions for various services, including medical insurance. Meanwhile, the ministry is working with commercial banks and third-party payment platforms to build […]
A Medical Revolution at Last! Meet China’s New Private Hospital Models and Resource-Sharing Healthcare Providers
A new type of healthcare provider in China has known a significant rise. These facilities are comparable to US-style medical malls, where various specialisms come together under one roof and resources can be shared efficiently, including the sharing of personnel and physicians from other hospitals or care units. Two such hospital structures, i.e. the Medical […]
The medical business in China has always been a government-led system, rather than a market-driven one. If we look specifically at the use of medical equipment, the overwhelming fact that strikes us, is that most hospitals in China will actually buy in one go, rather than renting or paying by installments for high-value equipment. In […]
Written by the director of a reimbursement department, at a tier 3 hospital in Beijing. Since 2000, China has become an aging society, and the unmet needs of long-term nursing and medical services have become an urgent social problem for China’s socio-economic growth.
In this article, we will describe the factors and mechanisms that drive the income and buying power of hospitals in China and elaborate where medtech companies are likely to find the most attractive segments.
In this article, we will discuss some of the basic regulatory steps for obtaining reimbursement-approval for medical devices, and list the key impacts and strategic considerations when dealing with HC reimbursement in China.
China has one of the largest medtech markets in the world, presenting a market full of opportunities and growth potential now and in the years to come. In this article, we will highlight the medtech market figures of China, in comparison to other leading nations, and pinpoint the Chinese market context and its key drivers.
China’s National Planning Guideline for the Healthcare Service System 2015-2020: Privatization, Increasing bed volumes and Insurance coverage
In 2015, China had a nominal GDP €9.897 bn, with an economic growth rate of 6.9%. 5.7% of its GDP is spent on healthcare, equivalent to a total of €564 m, or €412 per capita. China is the most populated country in the world with one of the strongest GDP growth rates internationally; a fascinating […]
China’s National Development and Reform Commission (NDRC) issued a drug price reform policy, which officially withdraws government price setting of all drug products except narcotics and class 1 psychoactives, in an attempt to allow the centralized drug purchase system, basic medical insurance system and market forces to determine actual drug prices from 1st June 2015.
Due to the one-child policy in the last 30 years, a growing share of China’s population will soon be over the age of 60, closely aligning its demographic dynamics with those of many developed countries. The Chinese government has made a priority of developing the healthcare sector as well, especially in regards to investing into […]