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(Medical-NewsWire.com, August 15, 2012 ) San Francisco, CA -- International health care group Bupa has warned that the rising cost of private health care is taking health insurance in the UK to unaffordable levels.
With almost no competition among private health care hospitals, the cost of treatment has been rising continuously over the last few years. Such a trend can potentially lead to medical cover becoming too expensive for the general public.
Numbers of customers at Bupa’s UK insurance division in first six months of the year have reduced by five perfect as a result of an increased cost of health insurance coupled with the country’s tough economic conditions.
Finance market further added that Bupa is expected to talk with some of the leading health care providers in the country to keep medical insurance cost to minimum levels. However, since some parts of the UK are covered by more than one private hospital, the insurer may face several direct and hidden obstacles.
As the UK’s private health sector is largely controlled by 5 main organizations, the Office for Fair Trading has decided to refer the sector to the Competition Commission for further investigation. The Commission is expected to present its findings by the end of 2014.
John Fingleton, the OFT’s Chief Executive, said: ‘The private healthcare sector is likely to continue to be of growing importance to the nation’s population and economy and so it is important that the market works well.”
“Yet private patients and their GPs face difficulties selecting private healthcare providers on the basis of quality or value for money, and this may ultimately result in patients paying higher prices, or receiving lower quality care.”
Bupa’s CEO Stuart Fletcher is convinced that the cost of private healthcare in the country is almost 80 percent more than that in Australia.
Some local health insurance providers including Passport2Health have already come up with a new healthcare plan to help the people get access to affordable medical services in Europe. It will be interesting to see if the government can work out a method to provide permanent and low cost medical cover to low income people.
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Source: EmailWire.Com 
Source: EmailWire.com
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