GREAT BAY--Minister of Public Health, Social Development and Labor (VSA) Richinel Brug has submitted a new cost containment and financial sustainability plan for the social health insurance system to the Board of Financial Supervision (CFT), following a joint Cabinet meeting with the Ministry of Finance and CFT last week.
Minister Brug described the session as constructive and collaborative, and said this way of working together in the open is the direction the country needs for long term financial stability in health care.
“In October, I instructed SZV to develop a comprehensive cost containment and financial sustainability plan. The goal was very clear: we must urgently reduce health care costs while protecting the quality of care,” Minister Brug said. “SZV has now complied with this instruction, and after reviewing the plan, I submitted it to CFT.”
According to the Minister, the plan that has now been delivered outlines several key actions aimed at stabilizing SZV’s finances while improving how care is delivered and monitored. The main elements include:
- Reducing administrative costsLowering dependency on consultants and outsourced audit services, and investing instead in building in-house capacity.
- Automating major SZV processesStreamlining workflows, strengthening monitoring, and cutting operational expenses over time through increased automation.
- Managing health care costs more effectivelyIntroducing stricter controls on medical referrals abroad, reviewing the business case of the new hospital, and reducing fraud through digital tools such as QR based verification.
- Enhancing revenuesImproving employer compliance, strengthening collection efforts, and using data analytics to track payment behavior and address arrears more quickly.
- Strengthening preventative careSupporting pilot projects with general practitioners that target diabetes, hypertension and obesity, with the aim of reducing long term costs by improving health outcomes.
“The plan is detailed, structured, and addresses both immediate and long term challenges,” Minister Brug stated. “It is exactly the kind of strategic work we need to ensure that SZV remains financially viable in the years to come.”
He added that he is committed to close cooperation with all partners involved.
“I look forward to continuing the collaboration with SZV, the Ministry of Finance and CFT as we take the next steps to strengthen and safeguard our health care system for the benefit of all residents,” the Minister said.
https://tribune-site.webflow.io//articles/vsa-minister-brug-sends-szv-cost-containment-plan-to-cft
