There are a wide range of both public and private hospitals in Hong Kong that expats moving into the city can choose from. Both types of hospitals have highly trained doctors who offer care both in Chinese and in English.
Many expats will wonder with the amount of health care found in Hong Kong, is if the healthcare provided is efficient.
The Bloomberg Healthcare Efficiency Index introduced in 2012 by Bloomberg ranks 55 countries on the efficiency of their healthcare. Since 2012, the index has shown that there are my Asian countries, as well as Hong Kong, that have been ranked highly.
The most recent ranking, on September 2016 has placed Hong Kong on the top spot of the list with a rating of 89.9 out of 100.
The US is ranked 50th on the index, even with most expensive health insurance costs.
How Does Hong Kong Have Efficient Health Care?
Although the pricing of private Hong Kong hospitals and US hospitals be very similar, there are certain factors that give Hong Kong the upper hand.
There are three major factors that are used when ranking countries. These are:
- Life expectancy: The amount of time on average a person in a particular location will expect to live for.
- Relative health expenditure: The relation between the GDP of a location against the amount that is spent on its healthcare.
- Absolute health expenditure: The spending of each person on average on healthcare.
Relative Health Expenditure percentage x total GDP.
Life expectancy is weighed at 60%, relative health expenditure is weighed at 30%, and absolute health expenditure is weighed at 10%.
Hong Kong, according to the index has an average life expectancy of 84 years, healthcare has made up 5.4% of the total GDP of the SAR, and around 2000USD will be spent on average each year on healthcare.
The US has a 79 year average life expectancy, 17.14% of their healthcare makes up for their total GDP, an average person in the US will spend 9400USD a year on their healthcare.
Hong Kong has a much lower set of numbers as the government carries out a high level of subsidisation on public health care. As well as the subsidisation, the government also takes a massive role in the management of the healthcare industry.
In conclusion, Hong Kong’s healthcare is one of the most efficient in terms of statistics. The index however does not provide information on factors such as wait times, doctor-patient meeting time (from high work case load).
The government’s actions however may affect the rating of the higher cost found with the private hospitals.
Health insurance will allow expats to receive treatment in the private healthcare system, which allows them to enjoy short wait times, more time with doctors, and a generally less stressful experience.
Feel free to talk to us at Major Compare to help with understanding and learn about your options for health insurance.