Weekly Newsletter: January 12, 2018

January 24, 2018

Speaker: Rotarian Stevie Erard
Topic: Healthcare in China

Recently inducted member Stevie Erard gave his Rotarian maiden speech this week. He works for Pacific Prime, an insurance broker, where he heads a team of 14 people, having set up the Beijing office since 2015, and introduced the Chinese health insurance market to members and guests of the Rotary Club of Beijing.

After briefly presenting his employer, Rtn Stevie illustrated the considerable disparities in quality as well as costs that exist between the four main categories of hospitals in China: public, public AAA, private, and luxury. Treatments in the case of routine pregnancies or surgeries can easily cost ten times as much in a luxury hospital as they would in a regular public one. Continuing to speak of costs, Stevie showed us that the annual “International Private Medical Insurance Inflation” (IPMI) rate is way above the overall inflation rate of the global economy. This is mainly due to four factors:

1. New medical technology
2. An imbalance of healthcare resources
3. Increased compensation for healthcare professionals
4. Healthcare overutilization

While the future of the Chinese healthcare system will include more private facilities competing in a growing market that is characterized by increased care and more “e” features (mobile healthcare apps, online access, e-appointment scheduling etc.), the decisive question of how to pick your own insurance still needs to be answered by all of us individually – perhaps with the help of Stevie and his team.

       

*Left: Rtn Rene, Daniel R, Stevie and PP. Piper
*Right: Rotarians and guests enjoying the fellowship

New Year Dinner on January 23
Lunch on January 23rd has been switched to a dinner meeting. No lunch on January 23. Time and location of the dinner will be release soon. Please mark your calendar.

To download photos from this week’s luncheon please (click).

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Rotary Club of Beijing


Regular Meetings
Tuesday 12.30~14.00
Kempinski Hotel
Celine Lin
Club Administrator
+86 159 0121 4070
admin@rotaryclub-beijing.org

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