Republic of Korea’s national health insurance system is a public insurance system that covers all Korean citizens and applies an individual insurer system. Thus all medical devices that have been approved by the MFDS as being covered under the national health insurance system are required to be assessed by the Korean Health Insurance Review and Assessment Board (HIRA) and are subsequently classified into categories such as “consumables” or “medical practice” etc. and then assessed a Maximum Reimbursement Price (MRP) that will become the market price of the product in the Korean market. When a medical institution uses the product and/or medical practices to treat patients, the National Health Insurance System will then reimburse the cost at the MRP price.

We can provide strategy and methods for maximizing the assigned MRP price for our clients’ products based on the characteristics and advantages of such products;