- Advertisement -
ISLAMABAD, Aug 7 (APP):The Securities and Exchange Commission of Pakistan (SECP) has released a comprehensive report titled “Healthcare Ecosystem in Pakistan.” With a special focus on the role of health insurance, the report highlights the state of the healthcare ecosystem, relevant stakeholders, market dynamics, and performance, along with key challenges hindering the optimization of healthcare delivery, said a release issued here on Thursday.
Despite healthcare being a priority area for the Government of Pakistan—as enshrined in Article 38 of the Constitution of Pakistan and recognized as one of the United Nations’ (UN) Sustainable Development Goals—Pakistan ranks among the highest in out-of-pocket expenditures, according to the WHO Global Health Expenditure Database.
At 47%, Pakistan’s out-of-pocket spending far exceeds that of Sri Lanka (40%), Malaysia (38%), and China and Indonesia (both at 33%).
The development of the health insurance sector is one of the operational outcomes of the SECP’s five-year strategic plan, “Journey to an Insured Pakistan,” launched in December 2023.
The report identifies various challenges and specific bottlenecks impeding the growth of the health insurance sector.
Drawing from international best practices, it offers a strategic roadmap centred on key reform areas, including product innovation and inclusivity, conduct and administration, pricing and underwriting, oversight and monitoring, and creating a value-based health insurance ecosystem with enhanced private-sector participation.
In his message, SECP Chairperson Akif Saeed emphasized the need for sector-wide integration, particularly the amalgamation of primary healthcare with universal health coverage through the participation of both public and private sectors.
Commissioner Insurance Mujtaba A. Lodhi further asserted that a broad-based, holistic national-level strategy—with the ownership of all relevant stakeholders—is essential for sustainable and comprehensive reforms in the sector.