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Although health insurance may seem like a relatively simple process, changes in country, governance, policies, laws, insurance agents, and healthcare acts make it a complicated affair. In the case of countries like China and Japan, the majority of its population is covered under its universal healthcare system or insurance program. The government spends a lot of money on healthcare reforms in an attempt to bring the healthcare cost down and reduce insurance frauds with better healthcare reimbursement plans. A large chunk of this healthcare cost is spent in the sourcing and procurement of medical devices. The government tries to reduce the cost burden to the healthcare facilities by reimbursing a part of the cost of medical devices. But procurement processes for these medical devices is complicated as the reimbursement rates cannot be easily calculated.
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Why Should Why Should Medical Device Manufacturers be Concerned about the Reimbursement Scenario?
Gaining an understanding of the reimbursement scenario simplifies and speeds up the regulatory approval process. The manufacturers should have a thorough knowledge of medical device classification to benchmark imported medical products with domestic products. In some cases, it is essential to modify products to suit the local requirements and to comply with reimbursement standards. Since the government has made the procurement of imported devices unfavorable, foreign players can look for mergers and acquisitions to increase their survival chances and enjoy reimbursement benefits. For more insights on the challenges faced by foreign medical devices suppliers in tackling the reimbursement scenario in japan and china, read the complete article.
How Infiniti Research Equips Foreign Medical Equipment Suppliers to Tackle the Issue:
A lot of information is available regarding the medical reimbursement scenario in China and Japan, but it is either outdated, irrelevant, or impractical. The existing reports usually focus on a general overview of the medical reimbursement scenario excluding the intricacies and don’t offer scope for regulatory changes. Infiniti Research addresses all these problems and provides a systematic solution for medical device manufacturers to provide product-wise reimbursement information. Research experts at Infiniti Research also assess the reimbursement scenario for each device and start by building models from scratch, making realistic assumptions on inputs from physicians and industry insiders. The models are then validated from KOLs, other doctors, insurance agencies, hospital departments, and regulatory bodies.
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About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us