PETALING JAYA: The delay in the issuance of the 2026 Annual Practicing Certificates (APC) for doctors by the Malaysian Medical Council (MMC) is seen to have a limited impact on operators of private hospital in the country, analysts say.
The two main listed private hospital companies in the country are KPJ Healthcare Bhd
and IHH Healthcare Bhd, which continue to see stability in their share prices.
The delay also highlights potential weaknesses in the present regulatory systems which may eventually impact industry players if not handled well moving forward, analysts said.
As such, private healthcare companies can leverage their scale to move from reactive compliance to proactive governance through several steps, said MBSB Research.
This includes data-sharing integration with the relevant authorities for a more seamless integration and the negotiation of centralised agreements with third-party administrators and insurers to ensure that any potential payments are not clawed back or denied if a doctor has fulfilled all requirements but is merely waiting for the physical certificate from MMC, the research house said.
It also suggested that private hospital players should use platforms such as through the Association of Private Hospitals Malaysia to request that Bank Negara Malaysia issues formal directives to insurers to ensure the industry isn’t affected by any insurance denials due to administrative reasons.
“The APC delays have created significant administrative and legal challenges within the healthcare system. It is estimated that over 14,000 doctors were left without a valid APC when the year began.
“The MMC attributed the delay to a sharp increase in applications and issues with late supporting documents,” the research house said.
“We believe that resolving the APC issue is crucial to ensure the sustainability of the healthcare sector with the beginning of the Malaysia Year in Medical Tourism 2026 campaigh.
“The APC crisis serves as a stark reminder of the friction that can occur when legacy laws meet modern digital systems,” it added.
While the immediate threat has been neutralised by an amnesty, MBSB Research said the episode has fundamentally shifted the conversation around medical regulation in Malaysia.
The ultimate resolution of the crisis is not merely about clearing a backlog of certificates but represents a reset of the relationship between the regulator, the practitioners and the public-listed healthcare industry, it noted.
“By the Jan 31 deadline, we expect that Malaysia’s healthcare system will emerge with a more modern, transparent and resilient regulatory framework.
“This obstacle has paved the way for a digital-first era in medical licensing, ensuring that administrative failure can never again compromises patient care or professional livelihood,” the research house said.
