Egypts UHIA revenues grow 36% in FY 2020/2021: Maait

ArabFinance: Revenues of Egypts Universal Healthcare Insurance Agency (UHIA) leveled up 36% during fiscal year (FY) 2020/2021, Ahram Online cited Minister of Finance and UHIA head Mohamed Maait.

The agencys investment returns recorded hiked 129% over the same year.

Maait added that Egypt has an advanced strategy for the safe investment in the universal healthcare insurance system that brings in the maximum returns without affecting the liquidity needed for the system.

Egypt's treasury shouldered EGP 39.3 million in FY 2020/2021 in the form of subscription fees for the people who were unable to afford them, with an increase of 449% on FY 2019/2020.

Additionally, the UHIA paid EGP 988 million to Egypts General Authority of Healthcare (GAH) as the value of the medical services extended to the system's beneficiaries in Port Said, where the system was first applied.

In July 2019, Egypt launched the first phase of the system in Port Said. The system witnessed some setbacks because of the pandemic outbreak, but it resumed on 23 July 2021 in Ismailia, South Sinai, Luxor, Aswan, and Suez.

Maait noted that the divs are a positive indicator that shows the state's ability to keep the required financial inflows into the system to ensure its successful continuation nationwide.

The cost of the medical services offered under the system has been updated for the third time to keep up with the changing prices taking place in the market and ensure the quality of the services offered.

The minister further noted that the UHIA financial position is solid, stating that the system can be applied gradually in other governorates in line with the presidential directives to speed up its application countrywide. It can be applied across all governorates in 10 years time.

The UHIAs system includes 2,850 medical services and the agency is working on expanding the list of hospitals, medical labs, and pharmacies working under its umbrella.

A recent report published by Oxford Business Group (OBG) stated that despite the ongoing COVID-19 crisis, Egypts healthcare sector has significant potential in the medium and long terms.

While the global spread of COVID-19 has placed an exceptional strain on the countrys health systems and infrastructure, the pandemic provides Egypt with an opportunity to streamline reforms, and locate and strengthen weak spots in its health system," the report highlighted.