Singapore’s Healthcare System

Check out this article in Forbes about Singapore’s Healthcare System.   Here are some highlights:

  • Pricing is extremely transparent.
  • Singapore spends 4.9% of its gross domestic product on healthcare. The European Union and Canada spend double. The United States spends more than triple at 17%.
  • Singapore is the most cost-efficient healthcare system in the world.
  • Singapore has minimized the role of health insurance. Instead of mandatory health insurance plans, Singapore has established mandatory health savings accounts called Medisave. Depending on age, individuals contribute 8-10.5% of wages into their Medisave accounts until the money pot is considered full. At that time, the savings spill into other pots to help save for other goals like retirement or housing. The Medisave money can only be used for health expenses, but it is tax free, interest bearing and inheritable.
  • What about those who do not earn enough to save large sums of money for even the most basic healthcare expenses? The government created a comprehensive safety net using an endowment fund called Medifund.

There are OTHER countries that are doing healthcare right and who do not have a national or socialized system.  When the ignorant think we can copy Norway or England or whatever then counter with Singapore.  It actually works better.

Douglas Farrago MD

Douglas Farrago MD is a full-time practicing family doc in Forest, Va. He started Forest Direct Primary Care where he takes no insurance and bills patients a monthly fee. He is board certified in the specialty of Family Practice. He is the inventor of a product called the Knee Saver which is currently in the Baseball Hall of Fame. The Knee Saver and its knock-offs are worn by many major league baseball catchers. He is also the inventor of the CryoHelmet used by athletes for head injuries as well as migraine sufferers. Dr. Farrago is the author of four books, two of which are the top two most popular DPC books. From 2001 – 2011, Dr. Farrago was the editor and creator of the Placebo Journal which ran for 10 full years. Described as the Mad Magazine for doctors, he and the Placebo Journal were featured in the Washington Post, US News and World Report, the AP, and the NY Times. Dr. Farrago is also the editor of the blog Authentic Medicine which was born out of concern about where the direction of healthcare is heading and the belief that the wrong people are in charge. This blog has been going daily for more than 15 years Article about Dr. Farrago in Doximity Email Dr. Farrago – [email protected] 

  2 comments for “Singapore’s Healthcare System

  1. Tom Horiagon MD MOccH
    December 31, 2016 at 11:07 pm

    OK. If the Singapore system is an exemplar like you claim, then let’s dig a little deeper. I am willing to state that the assertions in Forbes are BS. Any takers? For real money?

  2. hawgguy
    December 28, 2016 at 6:48 pm

    Transparency and skin in the game are both great forces for cost containment. Right now we have neither. We spend other people’s money (insurance company or government) and neither doctors nor patients have much of a clue exactly how much we are spending.

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