Over half (55%) of respondents in Macau cite high medical costs as a major obstacle to achieving "medical freedom", according to the results of a survey by Prudential Hong Kong (Macau Branch). In addition, the respondents anticipate needing about an average of 16 years of their household income to ensure medical freedom.
The new Medical Freedom Survey report was released yesterday by Prudential (Macau Branch) amid the ongoing development of Macau’s “Big Health” industry, which has significantly increased health awareness among its residents. “Big Health” is one of four diversified development strategies of the Macau government and covers the entire continuum of health services, including medical care, health management, and wellness.
The concerns voiced by respondents include high medical costs, a restricted medical network, and insufficient access to quality healthcare.
Nearly half (49%) of Macau respondents fear steep rises in medical expenses. Their concerns stem from expectations of medical inflation: Macau respondents foresee an 18.2% rise in medical costs over the next decade, higher than the 14.3% expected in mainland Greater Bay Area (GBA) cities and 17.7% in Hong Kong.
Over half (56%) of Macau respondents plan to use government aid to cope with rising medical costs over the next decade, compared to 31% of overall GBA respondents.
The Survey shows that 86% of the total number of GBA respondents define “medical freedom” as the liberty to freely choose medical resources, such as hospitals, doctors and medicine, while 85% interpret it as receiving prompt and adequate medical aid, and 82% see it as managing medical bills with ease. In Macau, 98% of residents have concerns about attaining medical freedom, exceeding the overall GBA (94%), mainland GBA cities (92%), and Hong Kong (93%).
Average of 16 years of household income needed to ensure medical freedom
Given soaring healthcare costs, GBA respondents overall believe that attaining medical freedom requires MOP5.7m ($710,000). Among them, Macau respondents anticipate needing roughly MOP$5.6m, equivalent to about 16 years of their household income. Similarly, respondents in mainland GBA cities and Hong Kong project a threshold of around MOP4.7m and MOP6.9m, respectively.
Macau respondents value services such as Chinese medicine, second medical opinions, and global drug searches. However, only 33%, 29%, and 17% of their current medical insurance plans encompass these services, respectively — much lower than coverage in respondents in mainland GBA cities and Hong Kong. This points to a significant gap between the medical needs of Macau residents and their existing insurance plans.
Mr Edward Dai, general manager of Prudential (Macau Branch), said, “Thanks to government subsidies for healthcare services, Macau residents are more inclined to utilise public resources for their future medical expenses compared to residents in mainland GBA cities and Hong Kong. However, given medical inflation and significant gaps in local medical coverage, they still face numerous obstacles to achieving medical freedom, with an alarming 98% expressing concerns in realising it.”
Prudential conducted the survey in May 2024 through online questionnaires and street interviews with 750 individuals aged between 18-54, including 300 respondents from Hong Kong, 150 from Macau, and 300 from mainland GBA cities, namely, Guangzhou, Shenzhen, Dongguan, Foshan, Huizhou, Zhongshan, Zhuhai, Jiangmen and Zhaoqing.