People the world over visit Singapore for various reasons including trade, education, tourism, and healthcare. Amazingly, healthcare in Singapore is considered one of the best in the world. Below are some of the things that make Singapore’s healthcare unique.
Healthcare Standard in Singapore is Exceptionally High
Unlike most countries, Singapore’s public healthcare maintains a very high level of excellence. Generally, all the healthcare systems are run on a semi-private system. This encourages all centers to observe the highest standards regardless if they are government run or privately owned.
As a result, locals and people from other countries rely on Singapore for access to the best healthcare possible. Migrant workers in the country are also required to get 6 monthly medical examination. The medical examination can include screens for pregnancy and infectious diseases like tuberculosis, HIV, and syphilis.
Cost of Treatment is Significantly Reduced
Even the most costly medical procedures would cost less in Singapore. On average, patients can expect to pay just a third of the price they would expect to pay in the United States and other countries in the west. Private hospitals in Singapore tend to charge more than public hospitals for the same services.
However, many foreigners opt for private hospitals as the queues are minimal. Understandably, cost can also vary depending on the requirements. Typically, the wards are divided by class in Singapore hospitals. The best rooms are comparable to a five-star hotel. However, average rooms are still cheaper compared to hospitals in the U.S.
Singapore Has Some World-Renowned Specialty Clinics
One of the reasons people the world over travel to Singapore is their world-class specialty clinics and specialists. In the country, it is easy to find reputable clinics that specialize in the following:
- Skincare
- Cancer
- Cardiology
- Orthopedics
- Sports Injuries
- Eye Treatment
Quick Overview of Singapore’s Healthcare System
The universal healthcare system of Singapore is based on private and public facilities. Permanent residents and citizens are entitled to healthcare services that are subsidized because they are contributing to Singapore’s three M’s. The three M’s are Medifund, Medishield, and Medisave.
The Medisave program is a forced savings plan. This is 7 to 9 percent of the working person’s wage. Most people use their Medisave accounts to pay for routine healthcare. The plan can encourage people to save and use their money accordingly. It also helps them become more responsible with their money.
Medishield is similar to a nationwide catastrophic insurance program. The premiums set are based on age and the deductibles are reasonable. Unlike 6 monthly medical examination which are required, you have the option to opt out of Medishield. However, many consider Medishield to provide great value.
The third M stands for Medifund. Medifund is backed up by a three billion dollar endowment. The government uses the income of the investment fund to pay the medical bills of those that are in financial need. The hospital boards that administer Medifund will decide on how a financial need is quantified.
In Singapore, permanent residents and citizens are covered by the country’s healthcare programs. However, unlike other expat destinations like Europe, Singapore permanent residents have a certain kind of status that can only be achieved after many years of residency. An application to the Ministry of Manpower will also be required.
