JAKARTA – The healthcare sector is expected to experience significant impacts from the implementation of the Standard Inpatient Class (KRIS) system starting in June 2025, alongside ongoing discussions on the premium adjustments for the National Health Insurance (JKN).

Ismail Fakhri Suweleh and Wilastita Muthia Sofi, analysts at BRI Danareksa Sekuritas, believe that the KRIS system and the government's Coordination of Benefits (CoB) scheme could potentially boost hospital revenues. “However, there are risks in executing these government policies,” they added.

In addition, the Indonesian government is planning to change the JKN payment mechanism to hospitals, shifting from the INA-CBG (Indonesian Case-Based Groups) model to the iDRG (Indonesian Diagnosis-Related Group) model. The Ministry of Health claims that this new system will provide more detailed services, aligning with the characteristics of patients' cases and healthcare costs in Indonesia.

Considering these factors, BRI Danareksa Sekuritas maintains an overweight rating on the healthcare sector.

“The hospital profitability in Indonesia continues to improve in a market that remains underserved,” argued Suweleh and Wilasita in the report.

Healthcare sector stocks highlighted by BRI Danareksa Sekuritas include PT Mitra Keluarga Tbk (MIKA), PT Siloam Internationals Hospitals Tbk (SILO), and PT Medikaloka Hermina Tbk (HEAL).

All of the shares mentioned above received a BUY recommendation, with target prices of IDR 3,400 for MIKA, IDR 3,300 for SILO, and IDR 2,000 for HEAL. (KR/ZH)