“Can Globalization Work for Health Services?” discussed at IFC-Johns Hopkins Health Conference, Istanbul
Andrew Jack, Health Reporter at the Financial Times, London, moderated the opening panel at the IFC-Johns Hopkins Health Conference, Istanbul, March 19, titled “Can Globalization Work for Health Services? Opportunities and Challenges.”
Abrar Mir, Co-Founder and Managing Partner, Quadria Capital, Singapore said that increasing affluence and a rising disease burden were driving health care in Asia. There is more privatization of the sector with assets increasingly being taken over by corporates especially in countries like Indonesia and the Philippines. This liberalization “far outstrips anything we have seen in Europe,” Mir added.
During a discussion on various health care business models, Michael Flemming, CEO, Life Healthcare, South Africa, said “we need to look at regulation and manage efficiency and input cost.” He added that there is a definite co-relation between wellness and health care costs.
According to James Wheaton, Director of Strategy, BUPA, UK, we should be asking ourselves the question, “what does quality health care look like and what are the wellness models?”
Mir said that Quadria encourages low cost sustainable delivery models.
In response to a question from the audience, Dr. Lim Cheok Peng, Managing Director, IHH Healthcare Berhad, Malaysia, said that Asian companies were attracting more medical tourism than in the West because “we are cheaper!”
Contact: Ludi Joseph, IFC