Insurance, Takaful Industry Publishes Reference Price Guide For Private Healthcare Services
KUALA LUMPUR, Jan 23 (Bernama) -- The insurance and takaful industry has published a reference guide on price ranges for common private healthcare services in Malaysia.
The reference guide is a joint initiative of the Life Insurance Association of Malaysia (LIAM), the Malaysian Takaful Association (MTA) and the General Insurance Association of Malaysia (PIAM) under the Reset strategy of the Joint Ministerial Committee on Private Healthcare Costs (JMCPHC).
In a joint statement today, the associations said the reference guide provides an overview of indicative price ranges typically charged by private healthcare providers for common services, based on insurance and takaful claims data for 2024.
“It is intended as an informational resource to help consumers better understand common healthcare costs, facilitate more informed discussions with healthcare providers and plan for potential out-of-pocket costs.
“Improving public understanding of healthcare charges is one of the steps towards promoting more sustainable healthcare financing, supporting greater price transparency and empowering consumers to make more informed decisions,” they said.
They said the published price ranges are not fixed or recommended prices, and actual charges may vary depending on factors such as a patient’s medical condition, treatment complexity and provider practices.
LIAM chief executive officer (CEO) Mark O’Dell said the publication reflects the industry’s broader commitment to transparency and consumer education.
“By providing indicative price ranges, we aim to empower policyholders with better cost visibility to support informed healthcare and financial planning decisions, while recognising that actual charges may vary based on individual conditions,” he said.
MTA CEO Mohd Radzuan Mohamed said the publication reflects the industry’s commitment to promoting a more sustainable and responsible healthcare financing ecosystem.
“Cost transparency is not about controlling prices, but about building shared understanding among patients, providers, and payers so that healthcare remains accessible and takaful protection remains sustainable for the long term,” he said.
PIAM CEO Chua Kim Soon said indicative medical pricing ranges can help reduce consumers’ financial anxiety by providing clearer visibility of potential treatment costs upfront.
“This empowers consumers to make informed decisions and engage more actively in discussions about their care.
“It is one of the several initiatives by the insurance industry to raise medical cost awareness and support a sustainable healthcare system for Malaysians,” he said.
The reference guide is publicly accessible on the respective associations’ websites from Jan 22, 2026.
-- BERNAMA