Health Insurance Research
Provide a general overview of the overall health insurance market in Vietnam, the market size (if readily available), 1 – 2 current trends in the market, and 1 – 2 challenges faced by the market.
- As of 2017, 81.7% of the Vietnamese population was covered under universal healthcare. This drove growth in the healthcare sector over the five-year period.
- There are four levels of care in the Vietnam healthcare system. Central level care is provided by the Ministry of Health (MoH) which runs several hospitals and research centers. Then there is Central-affiliated province/city level, which also operates hospitals, medical centers and medical colleges. Next is district level, which offers preventative and medical care that does not require a hospital. Finally, there are Commune health stations, which offer primary care.
- Health insurance is now compulsory in Vietnam, with three programs: social health insurance, health care for the poor and free health care for children under 6. There is also private health insurance.
- In 2017, Vietnam's healthcare market was estimated to be worth $16.1 billion. It is estimated to be worth $22.7 billion by 2021.
- There is a current increase in demand for healthcare due to high economic growth, higher incomes, increasing urbanization and an aging population.
- Additionally, the demand for pharmaceutical products in the country is expanding, attracting foreign investment in the sector.
- Local production of medical equipment has not been able to keep up with the increase in demand. As such, 90% of medical equipment for the country is imported.
- Overcrowding in public hospitals and a shortage of staff are other current challenges faced by the healthcare sector in Vietnam.
Proposed next steps:
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We recommend further research to attempt to identify or calculate the amount spent per year on private health insurance in Vietnam and Thailand.
Additionally, we recommend further research to identify 2-3 motivating factors for purchasing private health insurance in each Singapore, Malaysia, Thailand and Vietnam. We also recommend further research to create a basic demographic profile of consumers of private health insurance in each of these countries, including household income, family make up (single, married, with/without children), age, and occupation.