Pricing & Reimbursement

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;

We provide detailed service on pricing and reimbursement as follows:

  • Advice on reimbursement and medical care benefits for clients’ products based on new health technology assessments and the National Health Insurance Act and its applicable administrative rules;
  • Provide an assessment on expected MRP reimbursement price for the client’s product by conducting market surveys as well as share information on the market;
  • Provide consulting services to maximize the MRP price of the client’s product by assessing the product under local standards/requirements for reimbursement/pricing;
  • Submit application for MRP and provide relevant communication with HIRA/NECA/Ministry of Health & Welfare as well as other stakeholders;
  • Expertise in MRP qualification of SaMD and other digital healthcare products.