Core Viewpoint - Hainan Province has innovatively implemented a direct settlement system for medical insurance funds, significantly reducing the payment cycle for pharmaceutical companies from an average of one year to less than 30 days, thereby addressing the long-standing issue of slow payment in the pharmaceutical industry [2][3][4]. Group 1: Direct Settlement Implementation - The direct settlement system allows pharmaceutical companies to receive payments quickly, as demonstrated by a case where a company received 32,691.2 yuan within a month instead of the previous one-year wait [2]. - The initiative has expanded the direct settlement scope to include all drugs and consumables purchased through the provincial medical procurement platform, enhancing the stability of drug supply and meeting public healthcare needs [2][3]. - Since the launch of the online payment system on December 2, 2024, Hainan has directly settled approximately 2.409 billion yuan for 481 pharmaceutical companies, further reducing the average payment cycle to 30 days [4]. Group 2: Financial Relief for Hospitals - To alleviate the financial pressure on hospitals, Hainan has implemented a system of monthly pre-settlement, allowing hospitals to receive 90% of their declared medical expenses the day after submission [6]. - A prepayment management mechanism has been established, enabling eligible hospitals to apply for an additional month's worth of medical expenses on top of the monthly pre-settlement [6]. - The new system simplifies the reconciliation process for hospitals, which previously had to coordinate with 19 different agencies, now only needing to interface with the Hainan Medical Insurance Service Center [6].