He said during the recent Standing Finance Committee (SFC) that there are more persons in the elderly bracket, and with that comes the issue of an increase in the cost of healthcare.

According to the SFC report, Mr Smith stated “that the biggest strength is a committed, educated and highly competent staff. However, there are some structural issues with financing which has to do with the base formula for funding the BVIHSA through the National Health Insurance (NHI) scheme.”

Mr Smith also mentioned that the initial scheme was developed many years ago and the NHI scheme’s “formula needs to align with present circumstances.”

Chairman of the British Virgin Islands Health Services Authority (BVIHSA) Mr Moleto A. Smith has lamented that there is an insufficient balance of healthy persons in the Virgin Islands (VI).

'Substantial amount of underlying risk factors'

The SFC report summarised his words stating: “The demographics of the BVI indicated that there is a higher number of elderly. He said that as we age the cost of health care increases. The Chairman noted that insurance schemes are supported by balancing and leveraging risk and that it is based on numbers. He said that as it stands, there is not a sufficient balance of healthy people because our demographics have a substantial amount of underlying risk factors for high rates of diabetes, hypertension and behavioural and mental issues.”

The BVIHSA’s Chairman also said the present physical infrastructure does not support the type of healthy lifestyles that would lower the risk factors and noted that addressing those factors in collaboration with NHI as well as support from the Ministry is “a high priority.”

Mr Smith stated that there are plans to strengthen the internal controls of the BVIHSA by conducting a comprehensive needs assessment and he hopes to have it commenced by or before this month.