Vietnam, US sign MoU on realising health insurance policies

VSS and USABC sign a MoU on realizing health insurance policies (Photo: Vietnamplus)

Hanoi (VNA) - The Vietnam Social Security (VSS) and the US-ASEAN Business Council (USABC) on March 9 inked a Memorandum of Understanding (MoU) on realising health insurance policies during a USABC delegation’s working visit to Vietnam.

USABC is a non-profit organization based in Washington, D.C. that represents 175 member corporations operating globally, with the majority on the list of 500 leading US companies voted by Fortune magazine. USABC member companies operate in the most diverse, dynamic and influential economic sectors in the US.

USABC supports member companies doing business in Southeast Asia, contributing to fostering economic relations between the US and countries in the region.

Since 2019, VSS and USABC have shared experience in implementing health insurance policies and consulting experts in the procurement and safe use of medicines during health checkups and treatment covered by insurance. However, their collaboration remains modest, so the potential and opportunities for cooperation between the two sides have not been fully tapped to support the Vietnamese social security sector to well implement health insurance policies.

Therefore, within the framework of the high-level USABC delegation's visit to Vietnam in 2022, the two sides proposed the signing of a Memorandum of Understanding to concretize cooperation contents in the field of health insurance.

The MoU is expected to contribute to the perfection and development of a sustainable, modern universal health insurance system in Vietnam.

The signing of the MoU aims to specify the scope of cooperation in health insurance, facilitating frequent exchanges between VSS and US partners towards the sustainable development of the health insurance system in Vietnam.

USABC President and CEO Ted Osius said the US business community highly valued efforts and achievements by the Vietnamese Government, people and firms in fighting COVID-19 and protecting people’s health. He also commended the resumption of production activities to catch up with the global economic recovery.

Every year, USABC organizes high-level business delegations to visit Vietnam and other Southeast Asian countries, according to Ted Osius.

The group met with senior Vietnamese leaders to report on major achievements in business activities and give macro policy recommendations to help Vietnam develop a stronger economy. The delegation also had working sessions with leaders of ministries, departments and sectors to discuss specific solutions to help improve the country’s investment and business environment, he said.

During the recent working sessions, the Prime Minister, the National Assembly Chairman and leaders of ministries and agencies of Vietnam expressed their desire to continue to promote cooperation between the two sides, especially in the field of investment and trade. This is also the wish of the member businesses of the council with the commitment to further enhancing investment cooperation with Vietnam, he added.

The MoU will be valid for five years from the date of signing. Under the agreement, the sides will bolster cooperation in health insurance, particularly in the development of sustainable universal health insurance coverage; assessing the quality of medical equipment and services covered by health insurance; and health insurance payment verification.

They also seek potential fields of cooperation such as digital application, social welfare consultation, and investment fund.

At the event, the sides shared experience in payment models for treatment of cancer and acute non-communicable diseases and solutions for Vietnamese patients to access modern medical treatment.

In particular, USABC will assist VSS in assessing the universal health insurance system. This includes the development of financial indicators and models, the promotion of research and shared experience to improve and maintain the stability and sustainability of the health insurance fund. It also includes the ability to evaluate the processes and methods related to health insurance payment for pharmaceuticals, medical equipment and medical supplies.

In addition, the council will also support the building of technical assistance and management capacity improvement programmes for the VSS staff and share the best practices on the unified management model of pharmaceuticals and products directly related to health./.