BOC launches cross-border healthcare payment platform in Greater Bay Area
Bank of China has launched an International Healthcare Financial Services Platform in the Greater Bay Area, enabling patients to receive treatment at partner hospitals without upfront payment while insurers settle bills directly. Fifteen mainland hospitals and nine insurers have joined the platform
Bank of China (3988) has launched the International Healthcare Financial Services Platform in the Greater Bay Area, offering one-stop services that include cross-border yuan settlement and transfer of medical records.
As a growing number of Hongkongers have sought cross-border medical care on the mainland in recent years, the platform allows patients to receive treatment at partner hospitals without upfront payment, with insurers settling the bills directly with hospitals, the bank said.
The platform integrates financial services such as banking guarantees, cross-border remittance and consolidated reconciliation, allowing cross-border healthcare services to go beyond traditional boundaries, according to the bank.
"More and more patients are seeking treatment in Guangdong, but direct billing through their insurers has not been possible. This platform clears the bottleneck, smoothing the way for cross-border medical care," said Wu Deqing, director of Guangzhou Concord Medical Centre at Guangdong Provincial People's Hospital.
Currently, 15 hospitals, including Guangdong Provincial People's Hospital, Zhongshan Ophthalmic Center of Sun Yat-sen University and Nanfang Hospital of Southern Medical University, have joined the platform.
Nine mainland insurers have reached cooperation with the BOC platform, with several Hong Kong and Macao insurers expressing interest in partnership.