China's commitment to making healthcare more affordable has yielded impressive results. Through strategic drug price negotiations, the country has saved patients over 880 billion yuan (approximately $112.4 billion) as of October 2024, according to the National Healthcare Security Administration (NHSA).
At a recent press conference in Beijing, the NHSA revealed that drugs covered under China's medical insurance via these price negotiations have been accessed more than 830 million times. This surge in accessibility highlights the success of initiatives aimed at reducing the financial burden on patients.
The cornerstone of this achievement lies in China's multifaceted approach, which includes bulk procurement and price negotiation programs. By leveraging the purchasing power of healthcare insurance authorities and basing pricing on national medical insurance usage volumes, China has effectively managed to lower drug costs without compromising quality.
Another significant factor contributing to this progress is the annual update system for the medical insurance drug catalog, introduced in 2018. This system has accelerated access to innovative medications, ensuring that new and effective drugs are promptly included in the coverage. As a result, insured individuals benefit sooner from advancements in medical science.
Adding to the momentum, the NHSA announced the inclusion of 91 new drugs to the national medical insurance list, bringing the total to 3,159 medications. This expansion significantly enhances coverage for chronic diseases, rare conditions, and pediatric medications, ensuring a more comprehensive healthcare system.
These efforts collectively demonstrate China's dedication to improving healthcare affordability and accessibility, setting a benchmark for other nations to follow.
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China's drug price negotiation program saves billions for patients
cgtn.com
