Core Points - The National Healthcare Security Administration (NHSA) has initiated the "dual directory" reform, establishing a new commercial insurance (commercial health insurance) innovative drug directory to support pharmaceutical innovation [1][6] - This year's adjustment marks the 8th time since the NHSA's establishment and is the first time a commercial insurance innovative drug directory has been added outside the basic medical insurance directory [1] - A total of 534 drugs passed the formal review for the basic medical insurance directory, while 121 drug generic names passed for the commercial insurance innovative drug directory, including high-priced innovative drugs like CAR-T [1][3] Group 1 - The establishment of the commercial insurance innovative drug directory provides a new independent application channel for high-priced innovative drugs [3][4] - The commercial insurance innovative drug directory targets drugs that exceed the basic medical insurance scope, are highly innovative, and meet significant clinical needs, such as high-priced cancer drugs and gene therapies [3][5] - The NHSA's support for innovative drugs includes financial backing through the inclusion of more innovative drugs in the insurance directory, as well as empowering the pharmaceutical industry and commercial insurance companies through data sharing and other reforms [6][7] Group 2 - The commercial insurance innovative drug directory is seen as a potential opportunity for pharmaceutical companies, allowing them to gain a first-mover advantage in a new market [2][5] - The NHSA has received 718 applications for the basic medical insurance directory, with a significant increase in the number of drugs passing the formal review compared to previous years [3][4] - The commercial insurance innovative drug directory is expected to alleviate some of the financial burdens on the basic medical insurance system, allowing for a more diversified payment system for innovative drugs [7][9] Group 3 - The innovative drug market in China is rapidly developing, with domestic companies exploring overseas business development and partnerships to expand their market reach [8] - There is a growing concern about the homogenization of innovative drugs, leading to increased price competition and the need for differentiation in drug offerings [9] - The NHSA emphasizes the importance of supporting true innovation and differentiated innovation in the pharmaceutical industry, ensuring that new drugs provide additional clinical benefits and meet unmet medical needs [9]

Core Viewpoint - The National Medical Insurance Administration emphasizes the importance of enhancing the quality of medical insurance services during the "14th Five-Year Plan" period, focusing on improving access and affordability for the public [1][3]. Group 1: Medical Insurance Coverage and Expenditure - The national basic medical insurance coverage rate has remained stable at around 95%, with a cumulative expenditure of 12.13 trillion yuan, averaging an annual growth rate of 9.1% [1]. - By 2024, the number of people covered by basic medical insurance is expected to reach 1.327 billion [1]. - Nearly 200 billion medical insurance reimbursements have been enjoyed by approximately 200 million people from 2021 to 2024 [1]. Group 2: Support for Specific Demographics - Measures have been taken to enhance support for the elderly and children, including the establishment of a long-term care insurance system, with 190 million participants by the end of 2024 [2]. - The cumulative expenditure for maternity insurance has reached 438.3 billion yuan, benefiting over 96 million people [2]. Group 3: Reducing Medical Costs - Policies have reduced the financial burden on rural low-income populations by over 650 billion yuan during the "14th Five-Year Plan" [3]. - The long-term care insurance has benefited over 2 million disabled individuals, reducing care service costs by over 50 billion yuan [3]. - Direct settlement for cross-provincial medical treatment has reduced the need for out-of-pocket expenses by 590 billion yuan [3]. Group 4: Technological Advancements in Medical Insurance - A unified national medical insurance information platform has been established, significantly improving management efficiency [4]. - The number of people using medical insurance codes has exceeded 1.236 billion, facilitating direct payment for medical services [4]. - The number of direct settlements for cross-provincial medical treatment has increased from 5.37 million in 2020 to 23.8 million in 2024, a 44-fold increase [4]. Group 5: Fund Management and Security - By the end of 2024, the cumulative balance of the medical insurance fund is expected to reach 3.86 trillion yuan [5]. - The administration has recovered 104.5 billion yuan through enhanced fund management and monitoring [5]. - Innovative regulatory measures have been implemented to combat fraud, including the use of big data analysis to identify irregularities [6]. Group 6: Support for Innovative Drugs - Expenditure on innovative drugs has increased significantly, with spending in 2024 being 3.9 times that of 2020, reflecting an annual growth rate of 40% [8]. - A total of 402 new drugs have been added to the medical insurance catalog since the beginning of the "14th Five-Year Plan" [8]. - The establishment of a commercial health insurance catalog for innovative drugs has seen over 100 drugs submitted for approval [9]. Group 7: Future Directions - The National Medical Insurance Administration aims to continue managing the medical insurance fund effectively while supporting the development of the pharmaceutical industry [9]. - The focus will be on providing efficient, safe, and accessible medical products and services to the public, contributing to the overall health of the nation [9].

Core Viewpoint - The National Healthcare Security Administration (NHSA) has emphasized the importance of deepening healthcare reform during the "14th Five-Year Plan" period, focusing on the integration of healthcare services with economic and social development [1][2]. Group 1: Healthcare Fund Management - The NHSA has managed a total healthcare fund expenditure of 12.13 trillion yuan, with an average annual growth rate of 9.1% since the beginning of the "14th Five-Year Plan" [2]. - The healthcare fund has significantly supported the pharmaceutical industry, with expenditures on innovative drugs projected to reach 3.9 times the 2020 level by 2024, reflecting an annual growth rate of 40% [2]. Group 2: Reforms and Innovations - The NHSA has implemented a prepayment system for healthcare funds and promoted real-time settlement reforms, covering 357 regions nationwide, with a total of 594.8 billion yuan disbursed since 2025 [1][2]. - The introduction of the "dual directory" reform, including a new commercial health insurance innovative drug directory, aims to support pharmaceutical innovation, with over 100 drugs currently under application [2][3]. Group 3: Integration with Commercial Insurance - The NHSA has facilitated the integration of healthcare insurance with commercial insurance, resulting in over 27 million claims in Shandong province alone benefiting from a "one-stop settlement" service in 2024, enhancing the competitiveness of related insurance products [1][2]. Group 4: Future Directions - The NHSA plans to continue managing healthcare funds effectively while injecting strong momentum into the pharmaceutical industry, aiming to provide more efficient, safe, and accessible medical products and services [3]. - The basic medical insurance coverage rate has remained stable at around 95%, with 1.327 billion people insured in 2024, and annual medical assistance benefiting approximately 8 million people [3].