Thailand promotes “medical economy”

While public hospitals remain committed to providing universal health care, they must also generate their own income to ensure financial resilience and strengthen the sector as a whole, a Thai official said.

Bangkok (VNA) – The so-called "medical economy" championed by the Thai government is being positioned as a new growth engine for the country, described as a potential game changer for state-owned hospitals struggling under mounting financial pressure.

As reported by the Bangkok Post, under Minister Pattana Promphat, the Ministry of Public Health of Thailand is steering the sector toward a more diversified revenue model, reducing its heavy reliance on government budgets and funding from the National Health Security Office. The move comes as many public hospitals face growing debt, largely attributed to rising costs under the 30-THB universal healthcare scheme.

Pattana said the ministry's long-standing dependence on a single funding source was no longer sustainable amid economic volatility and an ageing population.

While public hospitals remain committed to providing universal health care, they must also generate their own income to ensure financial resilience and strengthen the sector as a whole, he noted.

The ministry, he said, has untapped capacity to expand into medical businesses, particularly through partnerships and advanced services. Potential initiatives include high-tech and intelligent medical treatment, the development of medical engineering systems, and the creation of hubs to attract international investment. Increased investment in research and development, particularly in medicines and vaccines, is also being encouraged.

One step already underway is a collaboration with insurance companies, allowing policyholders to access treatment at state-owned hospitals at lower costs than private hospital packages.

The scheme has been rolled out at 28 major public hospitals nationwide and is expected to generate more than 8 billion THB (255.37 million USD) in revenue./.

VNA