When Singapore is mentioned, there are many things that come to mind — good security, a well-developed infrastructure network and high-class education system. However, there is one prominent industry in Singapore that has gained global recognition and praise, namely, the healthcare industry and medical tourism.
It is not unusual to see foreigners flying in from other countries to seek medical treatments in Singapore, whether be it for surgical, outpatient or other kinds of services. This is especially so for people with chronic or rare health conditions that require specialised treatment or expertise. Over the years, the Singapore government has invested a significant amount in healthcare, whether be it in terms of hospital facilities, new types of medication and medical technology. As such, this has facilitated the creation of a medical hub whereby medical services are readily available and accessible to both locals and foreigners. Coupled with the cluster of renown medical professionals and practitioners, it is no surprise that Singapore remains as one of the top choices for medical tourism.
In addition, if you have sufficient funds to spare, you can even opt for personalised dining options and enhanced hospital room facilities such as a rain shower or entertainment surround sound system. Thus, giving a whole new meaning to the phrase, ‘living in the lap of luxury’. Or in this case, receiving top-notch and luxurious medical care.
So, what makes the Singapore Healthcare system so successful and how can you benefit from it? There are plenty of reasons which we will share with you below.
Why Singapore’s Healthcare System Works
As the average age of Singaporeans increase, it is predicted that there will be an increase in the number of people requiring healthcare services as well. Along with other factors such as stress and lifestyle choices, there is an increased probability of people developing long-term health problems, which is why there is a need for more advanced yet reasonably priced medical treatment options.
To deal with this demand for healthcare, the Singapore government is not only dedicating more funding to the medical sector but implementing various financial schemes as well. Hence, this has brought about various healthcare benefits to Singapore citizens and permanent residents. With that in mind, let us now have an in-depth look and uncover the secret behind Singapore’s great healthcare system.
Good Selection Of Public And Private Healthcare Options
Singapore offers a wide range of public and private healthcare options for people to choose from, depending on their budget, needs and preference. Public sector-based healthcare institutions such as polyclinics and public hospitals absorb part of the medical expenses for patients, hence making them more affordable. However, do note that this medical subsidy only applies to Singaporeans and permanent residents. So, even if you are working and living in Singapore, you are not be entitled to this subsidised rate unless you are a permanent resident. Asides from that, public healthcare institutions also receive government funding and grants for research purposes, thus allowing them to explore innovative treatment methods to deal with complex medical cases. On the other hand, if you wish to cut down on waiting time and prefer a more specialised, one-to-one service, private healthcare providers are also an option. However, if you are a Singaporean or Singaporean resident, do note that they tend to be a bit pricier as compared to the public sector healthcare institutions. Whereas if you are a foreigner, both types of healthcare options are pretty much the same for you, in terms of price.
Presence of Financial Schemes And Subsidies
The healthcare system in Singapore is set in such a way that Singaporean citizens and permanent residents are equipped with a mandatory medical insurance plan that covers various medical expenses such as hospitalisation or outpatient visits. Known as Medishield or Medishield Life, this basic plan helps individuals to better prepare for potential healthcare costs that they might incur, in the circumstance that they fall sick. At the same time, it also helps to reduce overall medical costs. But do note that you will only be able to enjoy subsidised medical costs through Medishield, provided that your medical treatment adheres to the requirements of the plan. Asides from Medishield, which is accumulated through the deduction of a certain percentage of the individual’s salary every month, there is also a portion of healthcare costs that are subsidized by the government. This is especially so for people from the lower income group who will require assistance in terms of medical expenses. As such, there are various financial schemes in place that will help them in getting the medical attention that they need.
Promotion Of Competition For Higher Service Quality And Efficiency
The Singapore Government plays an important role in the promotion of competition among healthcare providers, so as to bring about better service quality and efficiency. At the same time, they also aid in the regulation of the number of healthcare services so that it will not result in a surplus, which will then affect healthcare costs. All in all, Singapore is one of the leading countries in terms of healthcare and provides various healthcare benefits for its citizens and permanent residents, hence making it a great place to settle down in the long term. As such, it is not unusual to find many people from other countries who choose to move to Singapore permanently with their families. However, the process of the application to become a Singapore permanent resident can be rather complex and tedious, therefore you are advised to get professional help when submitting the necessary documents for your application.