Digital therapeutics (DTx) is reportedly set to be covered under health insurance in South Korea soon, according to insiders.
DTx are used to treat disorders such as insomnia and depression through software and smartphone applications; however, like its drug, shot, or bioelectric counterparts, DTx is still designed to require a doctor’s prescription. This makes its marketability close to zero if not covered by health insurance.
According to a report from Korea Bizwire, several sources said that the enactment bill for DTx health insurance guidelines has passed the sub-committee of the health insurance policy deliberation committee under the Korean Ministry of Health and Welfare.
The bill that passed the sub-committee included guidelines that allow for the temporary enrolment of DTx in the health insurance system, giving employers the option to choose whether DTx is available for selective coverage of 10%, with patients covering the remaining 90%.
The country’s insomnia treatment software like Aimmed’s Somzz and WELT’s WELT-I have received authorization but are not yet eligible for health insurance coverage. With the bill passing the sub-committee, a DTx product covered by health insurance is expected to release as early as next month.
Elsewhere in the country, the Financial Supervisory Service (FSS) of South Korea and several other financial authorities are looking to put a stop on the insurance industry’s frenzied competition for sales of short-term whole life insurance policies.
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