International Business & Economy Is Singapore’s Healthcare System Better Than Other Countries?

Is Singapore’s Healthcare System Better Than Other Countries?

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Whether you believe it or not, Singapore’s healthcare system is not only one of the best in the world statistically, but it’s also envied worldwide for its efficiency and low cost. Whoa! No need to toss rotten tomatoes at me and brandish pitchforks! It’s true!

In fact, even Forbes and Slate have reported how even the United States looks at Singapore as a healthcare model to follow.

And if you look at the infographic below (taken from Bloomberg’s Most Efficient Health Care statistics), you’ll see why other countries hold Singapore’s healthcare system in such high regard:

Should Singaporeans Complain About Healthcare?

Why then do people complain so much about the healthcare system? Simple – people feel the government is being too stingy efficient with healthcare spending. At only 4.4% of GDP, you’ll find no argument there.

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But on the other hand, the government subsidizes up to 80% of your healthcare expenses and forces you to save for future health-related expenses through your CPF (Medisave) – limiting your out-of-pocket expenses.

So who’s right?

Well… that might not matter much in the coming decades, because regardless of your opinion, costs will skyrocket for everyone involved. All you have to do is look at the infographic’s last statistic – the rapid ageing of Singapore’s population.

Once Singapore starts going “grey,” citizens will need to pay higher taxes and Medishield contributions to cover increasing medical costs while the government will have no choice but to up its GDP spending to meet the growing demand for healthcare services.

Only time will tell if Singapore can hold onto its status as one of the world’s most efficient healthcare systems. Stay tuned with us on Facebook as we keep you up to date on developments in Singapore’s healthcare system.

What do you think about these healthcare statistics? Do they change your mind about Singapore’s healthcare system? Share your comments here!

Image Credits:
Fotos GOVBA

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