Events
On March 30, 2022, the office of the national medical insurance administration and the general office of the National Health Commission jointly issued the opinions on the supporting measures for the centralized procurement and use of high-value medical consumables (artificial joints) organized by the state. In combination with the characteristics of the procurement, distribution, use and accompanying services of artificial joints, the opinions on the network connection of centralized procurement platform, prepayment of medical insurance fund, medical insurance payment policy, medical service price adjustment New suggestions and measures are put forward in terms of incentive and restraint of medical institutions to ensure the smooth implementation of the results of centralized mining of artificial joints.
Comments
The selection results of artificial joint centralized mining have been gradually implemented, and the implementation of the work has been steadily promoted. Previously, in September 2021, the joint procurement office of high-value medical consumables organized by the state announced the successful results of centralized belt procurement of artificial joints organized by the state, which made it clear that all regions of the alliance will start to implement from March to April 2022. It is expected that the centralized purchase of artificial joint products in the future will promote the return of product prices to a reasonable level, reduce the burden of patients, reduce enterprise transaction costs, purify the circulation environment, guide medical institutions to standardize the use, and better ensure the needs of patients. The introduction of detailed measures such as medical insurance payment in this document will further ensure the smooth implementation of the winning results.
Limit the online listing of non selected varieties and the payment price of medical insurance, and guide the overall market price adjustment. This document makes it clear that if the non selected artificial joint products contain the components of the selected products, they can be linked according to the selected price. For other components, the linked price high line can be reasonably set in combination with the actual transaction price. For products exceeding the price high line, certain restrictions shall be imposed when linking, so as to guide relevant enterprises to adjust the price to a reasonable level step by step. If the non winning artificial joint belongs to the payment scope of the medical insurance fund, the payment standard shall be gradually adjusted within two years to not exceed the maximum winning price of the selected products in the same group. At the same time, semi hip prosthesis and single condylar prosthesis products will be hung according to the principle of matching performance and price with reference to the winning price of a full set of hip and knee products. It is expected that the prices of joint products that have not won the bid or are not included in the volume procurement will also be gradually adjusted to a reasonable range under the promotion of policies.
Implement the prepayment policy of medical insurance fund to ensure the payment settlement of manufacturers. The document requires that after the medical institution signs the purchase agreement with the selected enterprise, the medical insurance fund shall be prepaid to the medical institution at no less than 30% of the annual agreed purchase amount. The medical institution shall settle the payment with the enterprise in time, and the settlement time shall not exceed the end of the next month when the consumables are used. In addition, on the premise of implementing the main responsibility of payment for goods in medical institutions, medical insurance funds are encouraged to settle accounts directly with pharmaceutical enterprises. In the future, the efficiency of medical insurance fund settlement and enterprise loan settlement is expected to be further improved. The policy clearly supports and ensures that the production enterprises of the bid winning products have good cash flow in the settlement process
We will improve the incentive policy for surplus retention and reserve the space for dynamic adjustment of medical service prices. This time, the medical insurance bureau will clearly implement the incentive policies for medical institutions, improve the rules for the retention of medical insurance fund balance, and transfer the incentive and assessment to medical personnel. The implementation of the incentive policy is expected to enhance the enthusiasm of medical institutions and medical personnel to promote the implementation of the policy and ensure the smooth progress of the results of centralized procurement. At the same time, the document specifically proposes that if public medical institutions use intelligent systems such as “surgery Siasun Robot&Automation Co.Ltd(300024) ” to assist surgical operation, they can be charged a certain proportion based on the price of “artificial joint replacement” according to the actual function of the intelligent system. The price adjustment mechanism has reserved additional market space for the use of innovative products in the industry, and the application of innovative products such as surgery Siasun Robot&Automation Co.Ltd(300024) is expected to be further accelerated.
Investment advice
After the implementation of the policy document of the medical insurance bureau on the procurement of artificial joint belt, the price adjustment of most artificial joint products in China will be completed. The decline of product terminal price will directly compress the falsely high profit space in the past distribution model, but manufacturers are expected to maintain a reasonable profit space, which is conducive to standardizing the procurement and use of consumables and improving the industry ecology. It is suggested to pay attention to the core competitive enterprises with complete product pipelines, strong R & D strength and certain brand strength in the orthopedic track.
Risk tips
Risk of changes in medical insurance fee control policies; Risk of product bid renewal failure; The procurement volume of medical structure is lower than the expected risk.
