Health insurance coverage for Digital therapeutics (DTx) in South Korea appears to be imminent, according to insiders.
DTx serves as a software and smartphone application-based treatment for various disorders, including insomnia and depression. However, just like traditional drugs, shots, or bioelectric treatments, DTx also requires a doctor's prescription. Without insurance coverage, its marketability is severely limited.
Reports from Korea Bizwire indicate that the enactment bill for DTx health insurance guidelines has successfully passed the sub-committee of the health insurance policy deliberation committee under the Korean Ministry of Health and Welfare.
The bill's provisions include guidelines for the temporary enrolment of DTx into the health insurance system, giving employers the flexibility to decide whether they will offer selective coverage, covering 10% of the treatment costs, while patients would be responsible for the remaining 90%.
Currently, South Korea's insomnia treatment software, such as Aimmed's Somzz and WELT's WELT-I, have been authorised but are not yet eligible for health insurance coverage. However, with the bill's successful passage in the sub-committee, it is anticipated that a DTx product covered by health insurance could be available as early as next month.
In a separate matter, the Financial Supervisory Service (FSS) of South Korea and other financial authorities are taking measures to address the intense competition among insurance companies concerning sales of short-term whole life insurance policies.
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