Muscat, The 12th Middle East International Healthcare Insurance Conference, hosted by the Sultanate, represented by the Capital Market Authority (CMA) for the second consecutive year, started under the title “Evolution Strategies to Make Compulsory Health Insurance Sustainable and Successful at the Sheraton Oman Hotel.

The opening of the 2-day conference was sponsored by Dr. Ali bin Masoud al- Sunaidy, Minister of Commerce and Industry.

“The health insurance sector will contribute to attracting knowledge, raising the level of preparedness, improving and providing services, health insurance products and treatment services, raising the contribution of these sectors to the gross output, recycling capital and finding suitable job opportunities for citizens,” said Abdullah bin Salim al- Salami, CEO of CMA.

He added that CMA is to bid a tender for the development of e-link mechanism in the coming days, which will link the insurance companies and private health institutions, and link them with regulatory bodies, such as the Ministry of Health and CMA.

He said,” This system will create an interactive database of health insurance data, which will rely on medical coding techniques, Diagnosis-Related Groups (DRG) and insurance, thus contributing to fair pricing and overcoming the current problems of claims and reimbursement mechanisms.”

He added that the conference comes in line with the efforts of the Capital Market Authority (CMA) to prepare the necessary laws and regulations to implement mandatory health insurance in the Sultanate in response to the directives of the Council of Ministers , to highlight this type of insurance and how to best manage it to benefit from the development of the level of health services, which became an urgent necessity in terms of economic, investment and social aspects, noting that CMA relies heavily on the role of insurance institutions in providing innovative and diversified insurance products, in addition to offering competitive advantages, various options and high quality services aimed at increasing the umbrella of health insurance and meeting market needs.

The conference aims at presenting a range of working papers and presentations to identify the future visions of health insurance and to identify the regulatory and supervisory role to ensure the provision of high quality health insurance services, to encourage investment in the private health services sector and to benefit from the tremendous and steady progress at the local and international levels in quality standards, information security and data privacy, as well as the models and experiences of many countries in the area of health insurance through the review of lessons learned and challenges that have faced the application of the health insurance system.

The conference was attended by a number of undersecretaries, officials from the concerned parties and a wide international participation of personnel involved and interested in the development of health services, insurance and reinsurance companies.

Source: Oman News Agency