Palace: Private sector commits to bring in cheaper meds, ease nurse shortage

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MANILA, Philippines — The private sector has committed to bringing in cheaper medicines and addressing the shortage of nurses in the country, Malacañang said Friday.

The Office of the Press Secretary (OPS) said the Private Sector Advisory Council (PSAC) made the commitment during its meeting with President Ferdinand “Bongbong” Marcos Jr. on Thursday.

“It is important to all those involved in the discussions that progress in the healthcare sector should be inclusive. PSAC will help assist the government to ensure all recommendations presented to our president will be implemented and will reach our kababayans,” PSAC convenor and Aboitiz Group President and CEO Sabin M. Aboitiz said.

“We are co-creating solutions to help address the pressing healthcare concerns of the Filipinos. We are glad that we had the opportunity to present updates and recommendations to the President on critical issues in healthcare, including addressing health human resource shortages, which is not only a local issue, but a global crisis,” PSAC Health Sector Lead Paolo Borromeo also said.

Apart from bringing in cheaper medicine, the PSAC also said it would help strengthen the Philippine Health Insurance Corporation (PhilHealth) by providing a third-party assessment that will address operational gaps in claims filing, membership application, digitalization and actuarial valuation, among others.

The OPS said the private sector also vowed to work with the Food and Drug Administration (FDA) to upgrade its systems to obtain accreditation with various international regulatory bodies and raise awareness about the value of generic drugs.

Among those present in the PSAC healthcare sector group meeting were Aboitiz, Borromeo, Filipino-American molecular biologist and priest Dr. Nicanor Austriaco, Metro Pacific Hospital Holdings Inc. CEO Dr. Harish Pillai and Unilab President and CEO Clinton Campos Hess.

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