Media Release

Dr. Felix Lee, Co-Chief Executive Officer of The GBA Healthcare Group (left), and Dr. Kenneth Tsang, Regional Chief Executive Officer of IHH Healthcare North Asia and Chief Executive Officer of Gleneagles (right), signed a strategic collaborative agreement to foster the development of value-based care in the Greater Bay Area

(24 May 2024 – Hong Kong) The GBA Healthcare Group (“GBAH”) and Gleneagles Hospital Hong Kong (“Gleneagles”) signed a strategic collaborative agreement today to foster the development of value-based care (“VBC”) in the Greater Bay Area (“GBA”).

Gleneagles is now one of the partner hospitals of The GBA Integrated Value Based Care Partnership Ecosystem established by GBAH. Leveraging their respective experience and resources in healthcare, both parties will jointly provide cross-border high-quality health care covering general and specialist outpatient and inpatient services, as well as health insurance services, and foster mutual recognition of cross-border medical data. Gleneagles and GBAH will work together towards offering trustworthy, affordable and accessible healthcare services for residents in the GBA.

With the aging society and rapidly growing number of patients with chronic diseases, the traditional disease-centred healthcare delivery model is facing challenges. In collaboration with selected high-quality public and private hospitals, community health centers, clinics, insurers, reinsurers and technology companies, GBAH initiated the establishment of "The GBA Integrated Value Based Care Partnership Ecosystem". This partnership ecosystem, which is centred around people’s health promotion and disease prevention through integrating healthcare resources across Hong Kong and the Mainland cities of the GBA, aims to improve the overall health of society, whilst making healthcare services more sustainable by reducing overall medical costs.

Value-based care is characterised by the following features:

• Health-Centric Approach: Prioritises maintaining and improving health rather than merely treating diseases.
• Outcome-Based Billing: Charges are determined by patient health outcomes instead of the quantity of services provided.
• Cost-Effective Services: Delivers the most efficient healthcare services while ensuring enhanced patient health outcomes.

For the different stakeholders in the healthcare system, value-based care provides distinct advantages:

• For Payers: VBC manages costs and minimises risks by offering health insurance products that emphasize disease prevention;
• For Providers: VBC enables healthcare providers to focus on delivering the most beneficial services for patient health without the pressure of over- or under-servicing; and
• For Patients: VBC allows patients to access superior treatment and preventive care at a reduced cost.

By harmonising the financial incentives for payers, healthcare providers, and patients, VBC aims to enhance overall public health and lower total healthcare expenditures.

Dr. Felix Lee, Co-Chief Executive Officer of The GBA Healthcare Group, said, “GBAH focuses on developing an innovative value-based care model within the Greater Bay Area. We strive to provide trustworthy and affordable healthcare services by integrating quality healthcare resources in the GBA to achieve better healthcare experience, enhanced patients’ health, and more controllable medical costs. We share the same vision with Gleneagles, a private hospital in Hong Kong with strong specialist capabilities and excellent services, to improve the overall health being of our customers and patients. We are excited to join hands with Gleneagles in delivering one-stop cross-border health management plans for residents in the GBA, offering comprehensive services from appointment to treatment, from outpatient to inpatient services and in developing VBC payment solutions together.”

Dr. Kenneth Tsang, Regional Chief Executive Officer of IHH Healthcare North Asia and Chief Executive Officer of Gleneagles Hospital Hong Kong, said, “Gleneagles has been striving to provide high-quality and personalised healthcare services to patients in Hong Kong and the Mainland and fueling the integration of cross-border healthcare services and medical data through collaborating with different partners in the GBA. We are pleased to become a value-based care partner of GBAH to jointly promote health-centred medical model. Riding on the rich healthcare resources and strong network of GBAH, we look forward to creating more synergies to meet the medical needs of residents in the GBA and provide them with more excellent choice of cross-border healthcare services.”

GBAH and Gleneagles will kick start the collaboration in cross-border medical data exchange, mutual recognition of data for electronic health records, imaging records, laboratory tests and check-ups.  The two parties will also explore offering chronic disease management services, fostering in-depth development of medical partnership and co-create a viable GBA value-based care model together.