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Knowing your healthcare options is essential as an expat in Hong Kong. From public and private hospitals to Traditional Chinese Medicine (TCM) clinics, you’re spoiled for choice when it comes to medical care in the SAR. But one question expats often ask is: how efficient is Hong Kong’s healthcare system?
Our friends at Pacific Prime Hong Kong are here to help you understand the local healthcare system, how it ranks worldwide, and what that means for your insurance.
How Hong Kong’s healthcare system ranks worldwide
Additionally, the World Health Organization (WHO) ranks Hong Kong’s healthcare system as the 19th best in the world. It’s worth noting that Japan and Taiwan were two other Asian countries that were also included in the top 20 of the WHO ranking, indicating that the region has some of the world’s most efficient healthcare systems.
Healthcare costs in Hong Kong are also surprisingly lower than in some major countries.
This is in contrast to the US, which ranked 30th with a care system score of 72.7 and has continuously earned the number one spot for the most expensive international private medical insurance (IPMI) premiums in Pacific Prime’s annual Cost of International Health Insurance Report.
Why the healthcare system in HK is so efficient
Hong Kong’s healthcare efficiency is due to three key metrics used to develop the index and ranking: life expectancy, relative health expenditure, and absolute health expenditure. Bloomberg’s index weighs these metrics at 60%, 30%, and 10%, respectively.
Hong Kong has a life expectancy of 78.39 years, healthcare spending is 7.78% of GDP, and an average of USD $2,279 is spent on healthcare per year. Conversely, the US has a life expectancy of 78.7 years, healthcare spending is 16.8% of GDP, and an average of USD $9,536 is spent on healthcare per year.
The subsidization of public healthcare and the government’s active management of the healthcare industry also contribute to the SAR’s healthcare efficiency.
How Hong Kong’s healthcare system affects health insurance
The healthcare system in Hong Kong is efficient, especially in terms of the metrics used in the Bloomberg Index. But there are still other factors expats in HK must consider, such as long wait times and high caseloads in public hospitals.
While the HK Government’s actions offset the high cost of care at private hospitals, these can still be expensive. It’s advisable to secure a comprehensive health insurance plan so you can access the private healthcare system as an expat or medical tourist in Hong Kong with peace of mind.