It is an initiative by the Government of Malaysia to boost the productivity of Private Healthcare companies in Malaysia. The global healthcare industry is among the most dynamic and rapidly growing industries in the world economy. Demand for healthcare is likely to expand in the future based on the stimulated demographic shifts such as the increase in the number of elderly people, extended longevity; and a rise in lifestyle diseases. Hence, the consumers’ awareness of the importance of healthcare services has grown and accessibility to obtain these services has also improved. To boost productivity and economic growth of private healthcare, the Malaysia Productivity Corporation (MPC) supported by the Private Healthcare Productivity Nexus (PHPN) will introduce initiatives that cover three (3) key areas:
Regulation,
Technology and Innovation, and
Workforce and Performance
To speed up the application process to set up a new private hospital, new guidelines and online permit applications will be introduced. The improvements will be ready later this year and are expected to shorten the application process to be less than 100 days. Better Regulation
Reducing the regulatory burden (and layers of approvals), private healthcare will soon benefit from improved regulation in advertisement practices. This upgrade is expected to make RM2.1 billion in healthcare travel revenue for the country, and boost the economy in sectors such as accommodation, transportation, food and beverages and retail. Technology and Innovation
In this area, the initiative brings forward Public-Private Partnership (PPP), a business model that enables public and private hospitals to share resources and facilities. It’s a win-win scenario: the private sector can participate more and public facilities can be improved! Workforce and Performance
A hospital is as good as the people behind it. To help solve the shortage of medical specialists in the country, the initiative will also identify, and help selected private hospitals to be specialty training centres in high-demand areas of medicine. To help support this, a standard framework will be developed for private hospitals as specialty training centres. For more information on the Private Healthcare Productivity Nexus (PHPN), visit https://www.wayup.my/nexus/private-healthcare.
