Are lower private hospital Shield claims on the cards?

Integrated Shield Plan (IP) premiums have risen almost every year, and for good reason. Medical inflation post-Covid has been driven by manpower costs, utilities and a dozen other pressures that show no sign of easing. But something is quietly changing behind the scenes. IHH Healthcare, which owns Gleneagles, Mount Elizabeth and Parkway and commands 60 to 70 per cent of private hospital IP claims, has partnered with two insurers to try to bring costs under control.

In this episode of WealthBT, a BT Correspondents podcast, Genevieve Cua speaks with Jeffrey Law, chief commercial officer of IHH Healthcare Singapore, about what this partnership actually involves, how effective it has been after two years and whether tighter cost oversight could come with unintended consequences for policyholders.

Why listen

• How IHH’s iXchange platform screens claims before and after treatment  From pre-admission financial counselling to post-discharge bill reconciliation, Law explains the mechanics of a process designed to catch inconsistencies and standardise care without restricting it.

• Why it took nearly two years to bring insurers on board  Genuine friction existed between insurers, hospitals and specialists as costs climbed. Law is candid about the trust deficit that had to be overcome first.

• Whether cost management inevitably means restricting patient benefits  Law pushes back directly on this concern and explains where he draws the line between appropriate oversight and interfering with clinical decisions.

• Whether cost management inevitably means restricting patient benefits  Law pushes back directly on this concern and explains where he draws the line between appropriate oversight and interfering with clinical decisions.

• Why hospital panels are a much tougher problem than specialist panels  With only seven or eight private hospitals in Singapore, the math simply does not work the same way it does for specialists. Law explains what that means for access going forward.

Premium increases that reach double digits year after year are not sustainable for anyone. This conversation explains what is actually being done about it. Listen now.

Discover more episodes at bt.sg/podcasts. Got feedback? Email us at btpodcasts@sph.com.sg.

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Written and hosted by: Genevieve Cua (gen@sph.com.sg)

With Jeffrey Law, chief commercial officer of IHH Healthcare Singapore

Edited by: Nicole Teo & Claressa Monteiro

Produced by: Genevieve Cua, Howie Lim & Chai Pei Chieh

A podcast by BT Podcasts, The Business Times, SPH Media

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