Medical inflation continues to outpace general inflation. The 2019 Medical Trends Around the World survey results detail how health conditions, supplier factors and consumer habits are driving costs.
From January to March we surveyed 204 insurers globally. The highest cause of claims costs remain cancer and diseases of the circulatory system with top risk factors continuing to be: metabolic and cardiovascular, dietary and emotional/mental. Key highlights from this year’s annual survey include:
The average global medical trend rate observed in 2018 was 9.7%, three times the general rate - with a similar increase expected for 2019, and even higher rates for 2020.
The number of insurers investing in quality focused care, that provides the right care at the right time in the right setting, has more than doubled.
78% of insurers globally are considering or have developed virtual health consultations.
Non-communicable deseases, largely related to lifestyle choices, continue to drive claims by cost and frequency.
Medical Trends Around the World - Asia and Singapore
This year’s research surveyed insurers across 59 countries, excluding the United States.
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