The COVID-19 outbreak significantly disrupted China’s healthcare system in the first half of 2020 as expected. However, China’s healthcare system is on the path to normalization, with the crisis driving the healthcare system to the forefront of the government’s agenda. While the moderate stimulus measures implemented by the government will not reverse all of the economic impact on the Chinese population, reform efforts to drive greater standardization and centralization across the country will drive higher public healthcare spending over the medium term.
In addition, COVID-19 has driven accelerated adoption of digital health in China, reinforced by government support for reimbursement for online drug prescriptions and online consultations. The Chinese government, in alliance with local technology players, are seeking to deepen the development of digital health by bolstering smart hospital initiatives, supporting greater interoperability, and supporting efforts to enhance online disease management.
Healthcare companies must pay close attention to central government initiatives for the healthcare system, including for standardizing reimbursement rates and medical fees, accelerating centralized reimbursement, and mandating investments in digitization. Healthcare companies should prepare for growing domestic competition driven by industrial policy and the COVID-19 response.
Our experts recently held a webinar focused around China and its foundation for healthcare reform in 2021, including topics such as:
Watch the full webinar presentation below:
As part of our FrontierView subscription offering, we offer in-depth monthly monitoring, broken down by China’s major cities and provinces. Contact us for more information.
The business environment today requires you to process information about your markets, industry, and company in real-time and translate the information to power business decisions. We are thrilled to launch a solution to solve this challenge. FrontierView Mobile puts the right information at the right time, at your fingertips! Visit FrontierView’s website to learn more about the mobile application and the complete FrontierView solution suite. Download the app for iOS or Android to start monitoring now.