Shandong Technology and Business University Reports Findings in Sustainability Research (Innovation and financial sustainability in China’s long-term care insurance: An empirical analysis of the Nantong pilot): Sustainability Research

2022 DEC 22 (NewsRx) -- By a News Reporter-Staff News Editor at Daily China News -- New research on Sustainability Research is the subject of a report. According to news reporting out of Yantai, People’s Republic of China, by NewsRx editors, research stated, “Against a backdrop of aging and declining birthrates, the demand for long-term care insurance (LTCI) systems in various countries throughout the world continues to rise. Most traditional LTCI systems only cover a limited group of people, which cannot solve the problem of nursing needs among other groups, and, further, it makes financial sustainability very difficult to achieve.”

Our news journalists obtained a quote from the research from Shandong Technology and Business University, “This article aims to explore how Nantong successfully achieves both ‘full coverage’ and ‘financial sustainability’ through institutional innovation. Institutional innovation logic and financial sustainability of LTCI system in Nantong, one prefecture-level city with the highest degree of aging in China. Through field interviews and research, this article examines the LTCI system in Nantong, exploring its logic and its successful realization of institutional innovation, which combines international and local experience. The study further uses quantitative methods to measure the system’s financial sustainability. From the seventh national population census bulletin, the 13th Five-Year population development plan, the Nantong Municipal Bureau of Statistics and Nantong Statistical Yearbook 2020 from Nantong government. And from the authors’ field survey data in the Medical Insurance Bureau of Nantong. The findings reveal that the Nantong model effectively disperses institutional risks by means of horizontal and vertical transfer payments, diversified financing, and service outsourcing, achieving its dual goals of full coverage and financial sustainability in the long run. Nantong Model has interrupted the path dependence of traditional dual systems and the philosophy of fragmented institutional construction. Nantong’s path-breaking institutional construction paradigm has important theoretical and practical value.”

According to the news editors, the research concluded: “The experience of Nantong may prove valuable and instructive, for not only other cities in China but also developing countries across the globe.”

For more information on this research see: Innovation and financial sustainability in China’s long-term care insurance: An empirical analysis of the Nantong pilot. Frontiers in Public Health, 2022;10:1024491. Frontiers in Public Health can be contacted at: Frontiers Media Sa, Avenue Du Tribunal Federal 34, Lausanne, Ch-1015, Switzerland.

Our news journalists report that additional information may be obtained by contacting Yajun Li, Dept. of Public Administration, Shandong Technology and Business University, Yantai, People’s Republic of China.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.3389/fpubh.2022.1024491. This DOI is a link to an online electronic document that is either free or for purchase, and can be your direct source for a journal article and its citation.

Publisher contact information for the journal Frontiers in Public Health is: Frontiers Media Sa, Avenue Du Tribunal Federal 34, Lausanne, Ch-1015, Switzerland.

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