The healthcare system in Singapore is overlooked by the ministry of health that falls under the government of Singapore. The system is government-operated but public-funded provided through several schemes. Some examples of such schemes include Medishield Life, Medisave, Medifund. Some private players are in the sector too. It is the reason why a simple search for a clinic near me gives several results.
Ranking Singapore’s healthcare system
It is safe to say that Singapore has a widespread and efficient system of healthcare facilities. In 2000, WHO ranked the nations in terms of their healthcare systems. Singapore came in 6th place. This rank highlights the efficiency of the Singaporean system. In 2014, Singapore secured 1st place in the ranking by Boomerang.
The Economist Intelligence Unit honored Singapore with 1st place among the 166 countries ranked in terms of the healthcare system. Boomerang proclaimed that Singapore is the 4th healthiest country on the planet. It is why a search for a clinic near me gives several results reflecting the same.
Recent data on life expectancy in Singapore
In 2019, Singapore officially had the longest life expectancy in the world – 84.8 years owing to the smooth healthcare system. Females in Singapore have an average life of 87.6 years (75.8 years with good health). Males in Singapore have an average life of 81.9 years (72.5 years with good health).
When taking life expectancy and the amount spent on healthcare, Singapore will have one of the most efficient healthcare systems in the world in 2020. It was declared that including the conditions and data of the COVID-19 outbreak. It showed that Singapore was quick to respond and kept the health of its citizens on the top of the priority list.
Looking into the economics
According to Watson Towers (a consulting firm), Singapore’s healthcare system is one of the most successful ones in terms of health outcomes of the community and financial numbers. The system owes this ranking to the vigorous opening of medical saving accounts, government regulation for the good, and cost-sharing.
The system revamps it regularly, adjusting policies and practices to suit the public interest and well-being. When it comes to the private players, the government doesn’t regulate them directly. However, it overlooks the costing system to ensure that the facilities to everyone. The cost in the private sector is largely dependent on the market call.