Legislation could help protect clinics and ensure payment for services rendered. Should managed care companies be regulated?
The Singapore Medical Association, which represents the majority of doctors, wants managed care companies to be regulated. They should be licensed under “suitable legislation” such as the Private Hospitals and Medical Clinics Act, SMA has proposed to governing body Singapore Medical Council.
Our CEO, Dr Low Lee Yong was interviewed for this article which appeared in TODAY newspaper on 21 Feb 2011.
The following is an excerpt taken from the Today’s article:
There could be minimum financial and operational guidelines governing registration of managed care companies or third-party administrators, suggested Dr Low Lee Yong, chief executive of MHC Asia, which processes more than 1 million outpatient visits annually for companies and insurers as a third-party administrator.
But questions remain over what regulation can achieve. Industry players say doctors have the freedom not to sign managed care contracts and that market forces determine how much companies or insurers are willing to pay doctors.
“Even without rules in place, doctors should perform their due diligence and check that new managed care players are financially and operationally sound,” said Dr Low.