Private hospital fees reach record high in 2024: A breakdown of common surgery and daily hospital room charges!
Health2024-10-21
7 Mins Read
Medical advancements and increasing demand for healthcare have led to a rise in medical costs. A recent Global Medical Trends Survey Report 2024, released by an international risk management consultancy, reveals that the average medical cost inflation in Hong Kong rose from 7.53% in 2022 to 8.27% in 2023, with a projected increase to 8.36% in 2024.
Unfortunately, citizens’ income levels have not kept pace with medical inflation, and with the ageing population exacerbating the issue, the future burden of healthcare is expected to grow. As medical costs continue to rise annually, many people opt for the relatively affordable services of public hospitals. However, with years-long waiting times in public facilities, private hospital care becomes a viable consideration for many, though it is generally acknowledged to be several times more expensive than public hospitals. In this article, we provide a comprehensive comparison of room charges at 13 private hospitals in Hong Kong for your reference.
AXA's Medical Insurance Series
AXA cares about your thoughts, and our series of medical insurance plans addresses your needs comprehensively. Along with providing protection, we prioritise the most pressing concerns on your mind. By putting you at the center of our health coverage, we uphold our leadership in the industry.
Comparison of hospital room charges across 13 private hospitals in Hong Kong
Generally, private hospital rooms are categorised into three types: standard, semi-private, and private rooms. Even within the same category, charges vary significantly across different hospitals. Below is a comparison of room charges at 13 private hospitals:
In addition to these, there are specialised wards, such as those for newborns, children, and maternity, with daily charges ranging from HKD 690 to HKD 13,000.
【AXA's Medical Insurance Series】
Multiple medical coverage options tailored to meet your needs.
Comparison of intensive care unit (ICU) charges
If, unfortunately, a patient’s condition deteriorates and requires admission to an Intensive Care Unit (ICU), the costs are significantly higher than standard hospital rooms. Below is a comparison of ICU charges at various private hospitals:
How to combat rising healthcare costs
1. Make the most of your medical insurance
One of the best ways to combat the rising cost of healthcare is by purchasing medical insurance. Insurance companies will make compensation on a reimbursement basis, and choosing the right insurance plan is an important step in managing your healthcare costs. Here are some key factors to consider when selecting a medical insurance plan:
- Coverage: Opt for a plan that offers comprehensive coverage to ensure the plan covers the types of medical services you may need, including inpatient, surgical, and consultation fees. Also, it’s important to regularly review your current medical coverage to ensure it’s adequate and suitable, so you can address any gaps in protection. AXA's Medical Insurance Series, for example, are designed to cater to clients' specific needs and budgets. They range from coverage for standard hospital wards to high-end private rooms and provide comprehensive reimbursement for medical expenses, from consultation to inpatient surgeries, ensuring you receive timely and efficient healthcare services.
- Benefit limits and deductibles: Review the policy limits and deductibles in the insurance plan. Choose coverage that fits your needs and ensure you understand any deductible requirements.
- Network hospitals and providers: Make sure the plan covers hospitals and healthcare providers you frequent, particularly those in Hong Kong or Mainland China. AXA's medical network spans over 2,0001 hospitals in Hong Kong and Mainland China and includes more than 10,000 global healthcare providers2. It also features over 500 experienced network doctors3,4 and covers more than 30 medical and surgical specialties4,5.
- Coverage duration and renewal terms: Understand the policy’s coverage period and renewal terms to ensure long-term stability and continuity of protection.
- Additional services: Some insurance plans offer extra services such as nurse hotlines, health check-ups, and preventive care services. These can add value to your policy. AXA, for instance, offer a second medical opinion service, helping clients make more informed decisions when facing complex medical choices by providing access to expert opinions.
【AXA's Medical Insurance Series】
Multiple medical coverage options tailored to meet your needs.
2. Establish an emergency medical fund
Creating an emergency medical fund is another key strategy to cope with rising healthcare costs. The primary purposes of an emergency medical fund are:
- Handling unexpected medical expenses: In the event of an unexpected medical emergency, an emergency fund can provide immediate financial support, preventing delays in treatment due to a lack of funds.
- Reducing financial pressure: By saving and planning ahead, an emergency medical fund can help reduce the financial burden caused by medical expenses, ensuring financial stability for your family.
- Providing extra coverage: An emergency fund can act as a supplement to medical insurance, covering expenses not included in your policy or excess costs beyond your coverage limit.
3. Overseas medical treatment
The high costs and long waiting times in private hospitals have led many people to seek treatment in other regions. In recent years, Mainland China’s cost-effective and efficient healthcare services have attracted many to travel northbound for treatment. It’s essential to check whether your medical insurance covers treatment in other regions, particularly in Mainland China and Hong Kong. Ensure your policy includes support services such as nurse hotlines and cashless arrangements.
Are private hospital costs causing widespread concern among the public?
Demographic changes have driven up costs, making rising healthcare expenses an ongoing issue. Many families and individuals face tremendous financial challenges due to the high cost of medical care. The significant costs of surgery and daily hospitalisation in private hospitals put immense financial pressure on people, especially when long-term care or emergency situations arise.
To combat local healthcare inflation, it is crucial to adopt effective strategies, and insurance is one of the best methods to fight against healthcare inflation. Selecting a reputable insurance company with a broad medical network and good value for money is key. Industry recognition can serve as an important reference when choosing an insurance provider. AXA has won the 10 Life 5-Star Insurance Award for 2024 in both the ‘Voluntary Health Insurance’ and ‘High-End Medical Insurance’ categories. AXA is the only company to have received a 5-star rating for its voluntary health insurance plan for three consecutive years6, showcasing its excellence in health insurance and leadership in the field. It provides you with the market’s only 5-star healthcare protection experience.
Key features of AXA Medical Insurance Series
Leading healthcare coverage in Hong Kong:
- Affordable premiums: Enjoy quality medical coverage for as low as HKD 8 per day7.
Top-tier medical network:
- Wherever you are, your medical coverage goes with you: AXA's medical network spans over 2,0001 hospitals in Hong Kong and Mainland China and includes more than 10,000 global healthcare providers2.
- Over 500 network doctors3,4: A wide range of medical services catered by a network of more than 500 experienced doctors.
- Cover more than 30 medical and surgical specialties4,5: Meeting the diverse needs of the patients.
- Cashless arrangement8: Simply present your eHealth Card at a network doctor upon admission to enjoy deposit-free hospitalisation. Eligible medical expenses are handled with a hassle-free cashless arrangement at discharge.
- 7 Premier Hospitals: 7 private hospitals in Hong Kong under the AXA Signature Network, ensuring high-quality medical services.
1. Eligible AXA clients can access medical services at designated network hospitals in mainland China. The list of network hospitals is subject to change from time to time.
2. Only applicable to designated medical plans and benefit levels. The list of hospital service providers is subject to change from time to time.
3. Network Doctors and Network healthcare facilities are independent third parties and are not agents of AXA. AXA shall not have any obligation or liability whatsoever in relation to the medical services provided by Network Doctors and Network healthcare facilities, and shall not be responsible for any act or failure to act on the part of Network Doctors and Network healthcare facilities.
4. The list of Network Doctors and Network healthcare facilities are subject to change from time to time at AXA’s sole discretion without prior notice. Hence, the Network Doctors’ number of years experience and post-fellow specialist training may vary.
5. The number of medical and surgical specialties may vary. Please login to Emma by AXA or other channels made available by AXA or call AXA Customer Care Hotline on (852) 2802 2812/(853) 8799 2812 for the latest list of Network directory.
6. Source: 10Life Insurance Comparison Platform. The term "market exclusive" refers to AXA's WiseGuard Pro Medical Insurance Plan, which is the only VHIS plan to win the 10Life 5-Star Insurance Award for three consecutive years across all room categories (general ward, semi-private room, and standard private room). Among these, the "Regular" and "Enhanced" coverage levels were rated as "5-Star Voluntary Medical Insurance" in the 10Life 5-Star Insurance Award 2024, while the "Premier" and "Noble" coverage levels were rated as "5-Star High-End Medical Insurance." Data as of January 15, 2024.
7. Terms & conditions apply, please refer to the relevant product brochure and provisions for details. The premium shown above is based on the annual premium for AXA WiseGuard Pro Medical Insurance Plan at the "Standard" benefit level (HKD 50,000 annual deductible). Calculated for a 30-year-old non-smoking male insured residing in Hong Kong or Macau under the basic plan.
8. The availability of the cashless arrangement is subject to the (a) applicable benefit limits, deductible (if any) and exclusions under the relevant terms and benefits of the policy; and (b) acceptance of the cashless arrangement by Network healthcare facilities. The approval of the cashless arrangement is subject to the final decision of AXA. If applicable, the cashless arrangement is available to Network healthcare facilities in Hong Kong and mainland China. The provision of the cashless arrangement from AXA or Network Doctors or Network healthcare facilities shall not be deemed as an admission of our liability to pay and/or reimburse the policy holder under the policy or a waiver of any breach of the terms and benefits of the policy. The final claim decision will be determined by the medical information, and the benefits shall be payable subject to the applicable benefit limits of the chosen benefit level.
The above information is for reference only, and all actual charges are subject to the respective hospital's fee schedule. For more information, please visit https://apps.orphf.gov.hk/Public/Info/Hospitals.aspx.
The information and materials provided are of a general nature and do not constitute medical or health advice from AXA Hong Kong, and are provided on an "as is" and "as available" basis, without any type of express or implied representation and/or warranty. While AXA Hong Kong has taken reasonable care in providing such information and materials, they are not tailored to your specific investment objectives, financial situation, health or medical condition, or specific needs. AXA Hong Kong and its related or holding companies accept no responsibility or liability for the information and materials provided regarding infringement, security, accuracy, completeness, adequacy, reasonableness, fitness for purpose, or the absence of computer viruses. AXA Hong Kong and its associated companies and holding companies will not accept any legal liability for any loss, damage, cost, or other expense arising from any errors, inaccuracies, or omissions related to the information and materials, whether in whole or in part, and whether direct or indirect, to the extent permitted by law.
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AXA's Medical Insurance Series
AXA cares about your thoughts, and our series of medical insurance plans addresses your needs comprehensively. Along with providing protection, we prioritise the most pressing concerns on your mind. By putting you at the center of our health coverage, we uphold our leadership in the industry.
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