Future of Health Insurance in Saudi Arabia

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Future of Health Insurance in Saudi Arabia

            In Saudi Arabia, health insurance covers the expenses of medical and surgical treatment care. Insurers wholly or partly finance an individual's risk of medical costs by spreading it over a large number of people. Health insurance can compensate the insured for charges incurred because of medical complications, or directly pay the care facility. Coverage offers policyholders with care from selected healthcare providers. Insurers show an opportunity for growth and the possibility to impact the national financial state; however, the sector will face the challenges of transition to value-based care.

The coverage division depicts growth opportunity that involves shifting the focus to meaningful small data based on care providers’ specialty through innovation. Walker (2019) postulates information experts predict that due to data explosion along the care cycle the insurance sector will avoid the use of ‘big data’ to increase the digitization of workflows. Innovation alone cannot guarantee the growth of insurance firms in Saudi Arabia; however, it holds the largest share of responsibility towards growth (Kingdom of Saudi Arabia, 2019). To provide better health coverage, insurance companies should adopt the integration of complementing technology such as artificial intelligence. The use of innovation will allow healthcare payers to highlight the significance of specialty-specific solutions to explore self-care program, billing inconsistencies, clinical trial eligibility, treatment variability, and drug use.

The health insurance sector will face the challenge of slow transition to value-based care because this situation will reduce the number of...