{"id":47,"date":"2016-10-20T06:26:35","date_gmt":"2016-10-19T22:26:35","guid":{"rendered":"http:\/\/www.pacificprime.sg\/blog\/?p=47"},"modified":"2023-08-04T16:59:33","modified_gmt":"2023-08-04T08:59:33","slug":"singapore-healthcare-efficiency","status":"publish","type":"post","link":"https:\/\/www.pacificprime.sg\/blog\/singapore-healthcare-efficiency\/","title":{"rendered":"Singapore healthcare ranks as 2nd most efficient worldwide"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">People in Singapore, no matter who they are, will have to visit a medical professional sooner or later. Fortunately, when it comes to Singapore healthcare, Singaporeans are generally spoiled for choice when it comes time to finding a doctor. Between the affordable and effective public healthcare system, the exemplary private hospitals, the plethora of medical clinics to be found, and the ubiquitous presence of <a href=\"https:\/\/www.pacificprime.sg\/blog\/2017\/02\/03\/traditional-chinese-medicine-insurance\/\" target=\"_blank\" rel=\"noopener\">Traditional Chinese Medicine<\/a> providers all over Singapore, the options are seemingly boundless. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">And not only are there numerous medical facilities to use, but there is also a great tradition of highly trained medical practitioners in the city that can offer services in any number of languages thanks to the international nature of the area. With all of this in mind, native Singaporeans are generally satisfied with the healthcare system in the city-state, however, new expats in the city may take some convincing. If you happen to come across one of these individuals, or you happen to be one yourself, you\u2019ll be happy to know that a 3<\/span><span style=\"font-weight: 400;\">rd<\/span><span style=\"font-weight: 400;\"> party has recently confirmed the efficiency of the healthcare that Singapore offers.<\/span><\/p>\n<style type=\"text\/css\"><!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--><\/style>\n<p><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:573,&quot;3&quot;:[null,0],&quot;5&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;6&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;7&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;8&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;12&quot;:0}\"><div class='code-block code-block-5' style='margin: 8px 0; clear: both;'>\n<p><a href=\"https:\/\/www.pacificprime.sg\/compare-quotes\/step-one\/?campSource=PPSG-Blog&utm_source=blog&utm_medium=cta_banner&utm_campaign=banner&utm_content=quote?campSource=PPSG-Blog&utm_source=blog&utm_medium=content_banner&utm_campaign=banner&utm_content=general\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-778\" src=\"https:\/\/www.pacificprime.sg\/blog\/wp-content\/uploads\/2024\/07\/Blog-Banner_Singapore_1.jpg\" width=\"1138\" height=\"493\" \/><\/a><\/p><\/div>\n<\/span><\/p>\n<h2><b>Singapore acknowledged<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The <\/span><i><span style=\"font-weight: 400;\">Bloomberg Health-Care Efficiency Index<\/span><\/i><span style=\"font-weight: 400;\"> has become a publication that many now look forward to following its first annual release in 2012. This report aims to analyze and rank the healthcare found in 55 countries based on how efficient it is deemed to be. Ever since the report was created, many countries around the Asia Pacific region have ranked highly on the list. Singapore, in particular, has performed extremely well in the rankings, regularly battling for the top spot with its Chinese contemporary, Hong Kong.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The most up to date iteration of the report, which came on in September 2016, has Singapore-listed as the 2<\/span><span style=\"font-weight: 400;\">nd<\/span><span style=\"font-weight: 400;\"> most efficient healthcare system globally. That\u2019s right, it seems that Hong Kong got the better of Singapore for the time being, as it currently sits in the top spot. While Singapore had an efficiency rating of 84.2 out of 100, Hong Kong managed to come out on top with a score of 89.9. In the 3<\/span><span style=\"font-weight: 400;\">rd<\/span><span style=\"font-weight: 400;\"> spot with a score of 72.2 was Spain, so you can see how Singapore and Hong Kong stand head and shoulders above the rest in the rankings.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Digging further into the rankings, six different countries in the Asia-Pacific region were included in the rankings, including South Korea (which came in 4<\/span><span style=\"font-weight: 400;\">th<\/span><span style=\"font-weight: 400;\"> overall) and Japan (5<\/span><span style=\"font-weight: 400;\">th<\/span><span style=\"font-weight: 400;\">). China also made the top 20, coming in at #19. Pacific Prime would also like to note that the UAE came in 9<\/span><span style=\"font-weight: 400;\">th<\/span><span style=\"font-weight: 400;\"> place, as, while not in Asia, this country has proven to be a bellwether for major insurance trends.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Regarding countries that underperformed based on the amount of money that is spent on healthcare, the United States ended up ranking a paltry 50<\/span><span style=\"font-weight: 400;\">th<\/span><span style=\"font-weight: 400;\"> out of 55 nations.<\/span><\/p>\n<h2><b>Defining Efficiency<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Okay, so according to Bloomberg, Singapore is the 2<\/span><span style=\"font-weight: 400;\">nd<\/span><span style=\"font-weight: 400;\"> most efficient healthcare system in the world. What does that mean? What makes Singapore less efficient than Hong Kong and more efficient that the United States when it comes to healthcare? It isn\u2019t the costs, as <a href=\"https:\/\/www.pacificprime.sg\/blog\/2018\/10\/12\/what-is-the-cost-of-singapore-health-insurance-in-2018\/\" target=\"_blank\" rel=\"noopener\">costs for private hospitals<\/a> in Singapore can be even greater than some American hospitals.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">No, efficiency in the Bloomberg report is actually defined quite specifically based on 3 major factors. These factors are:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Relative health expenditure \u2013 This is the\u00a0amount spent in a given country on medical care vis-\u00e0-vis the country\u2019s total Gross Domestic Product (GDP). This factor accounts for 30% of the rating.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Absolute health expenditure \u2013 This is the amount, on average, that people in each country spend on medical costs. To arrive at this number, Bloomberg took each country\u2019s total GDP and multiplied it by relative health expenditure. This factor was weighted to account for 10% of the rating.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Life expectancy \u2013 This is the age that a given person in a country is expected to live on average. This factor accounted for 60% of the rating.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">For Singapore, the reported life expectancy clocked in at 84.2 years of age, relative health expenditure accounted for 4.92% of the city-state\u2019s GDP, and absolute health expenditure ended up being US$2,752.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The world\u2019s largest economy, the United States, on the other hand, has a life expectancy of 78.94 years, a relative health expenditure of a whopping 17.14% (which happens to be the highest percentage of the countries ranked), and an absolute health expenditure of US$9,403.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So how does Singapore keep their expenditure costs so low? Well, the government takes a very active role in shaping the medical system, controlling costs for treatment, pharmaceuticals and more. One example of this is the introduction of <a href=\"https:\/\/www.pacificprime.sg\/blog\/2017\/06\/19\/electronic-medical-records-singapore\/\" target=\"_blank\" rel=\"noopener\">electronic medical records<\/a>, which will allow every citizen to access their medical details by 2021. As well, many Singaporeans are heavily subsidized by the government, so they do not have to pay high costs as long as they remain inside of the public system.<\/span><\/p>\n<h2><b>Health insurance implications<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">By all accounts, Bloomberg has it right when they rate Singapore\u2019s healthcare system as being highly efficient, as most people in the city would likely attest. However, as outlined above, the rankings were determined based on only 3 different factors. To truly figure out how efficient a healthcare system is, it will take looking at the topic with quite a bit more depth. After all, it\u2019s not like Singapore\u2019s healthcare system doesn\u2019t have issues, such as long wait times at public health facilities.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As well, the numbers related to costs in Singapore-listed in the Bloomberg report will not apply to many expatriates living in the city, as they will not have access to the public healthcare system here. As such, they will be limited only to private medical facilities and the substantially higher costs that come with them.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">What will be more efficient for people using private hospitals and clinics are the shorter wait times, highly trained doctors, and increased time spent by doctors with patients. In other words, for expats in Singapore, your care is as efficient as you are willing to pay for. Fortunately, expats and Singaporean natives alike can access the highest quality care without breaking the bank by purchasing a private health insurance policy like those available through\u00a0<\/span><a href=\"https:\/\/www.pacificprime.sg\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Pacific Prime Singapore<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">What\u2019s more, the <a href=\"https:\/\/www.pacificprime.sg\/plans\/individual-health-insurance\/\" target=\"_blank\" rel=\"noopener\">international health insurance plans<\/a> that we offer will not only provide medical coverage in Singapore\u00a0but in hospitals all over the world too. Talk to one of our <a href=\"https:\/\/www.pacificprime.sg\/about-us\/advisors\/\" target=\"_blank\" rel=\"noopener\">insurance advisors<\/a> today to find out how you can maximize the efficiency of the Singapore health system for your family, as well as in countries around the globe. They can help by comparing plans available from major insurers, and give you a free price quotation.<\/span><\/p>\n<style type=\"text\/css\"><!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--><\/style>\n<p><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:573,&quot;3&quot;:[null,0],&quot;5&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;6&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;7&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;8&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;12&quot;:0}\"><div class='code-block code-block-6' style='margin: 8px 0; clear: both;'>\n<p><a href=\"https:\/\/www.pacificprime.sg\/compare-quotes\/step-one\/?campSource=PPSG-Blog&utm_source=blog&utm_medium=cta_banner&utm_campaign=banner&utm_content=quote\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-781\" src=\"https:\/\/www.pacificprime.sg\/blog\/wp-content\/uploads\/2019\/06\/PPSG_Gen_02.jpg\" alt=\"Get an Insurance quote banner\" width=\"1138\" height=\"493\" \/><\/a><\/p><\/div>\n<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>People in Singapore, no matter who they are, will have to visit a medical professional sooner or later. Fortunately, when it comes to Singapore healthcare, Singaporeans are generally spoiled for choice when it comes time to finding a doctor. Between the affordable and effective public healthcare system, the exemplary private hospitals, the plethora of medical &#8230;<\/p>\n","protected":false},"author":33,"featured_media":46,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[5],"tags":[770,768,28,27,40,41,29,30,45],"class_list":["post-47","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-health","tag-ban_gen","tag-cta_gen","tag-health-care-efficiency-in-singapore","tag-health-care-in-singapore","tag-international-health-insurance","tag-international-medical-insurance","tag-ranking-of-singapores-health-care","tag-singapore-health-insurance","tag-singapore-medical-insurance"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Singapore healthcare ranks as 2nd most efficient worldwide<\/title>\n<meta name=\"description\" content=\"Singapore healthcare has the second most effective health care in the world. Pacific Prime Singapore looks at this ranking and the implication on insurance\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.pacificprime.sg\/blog\/singapore-healthcare-efficiency\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Singapore healthcare ranks as 2nd most efficient worldwide\" \/>\n<meta property=\"og:description\" content=\"Singapore healthcare has the second most effective health care in the world. Pacific Prime Singapore looks at this ranking and the implication on insurance\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.pacificprime.sg\/blog\/singapore-healthcare-efficiency\/\" \/>\n<meta property=\"og:site_name\" content=\"Pacific Prime Singapore&#039;s Blog\" \/>\n<meta property=\"article:published_time\" content=\"2016-10-19T22:26:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-04T08:59:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.pacificprime.sg\/blog\/wp-content\/uploads\/2016\/10\/PPSG_Oct20_blog.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"300\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Martin Lee\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Martin Lee\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Singapore healthcare ranks as 2nd most efficient worldwide","description":"Singapore healthcare has the second most effective health care in the world. 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He writes articles and blog posts, creates infographics and videos, translates between Chinese and English, and more. Skilled at explaining complicated concepts in layman\u2019s terms, Martin believes the gold standard of translation is attained when the translated text is not only accurate, but also reads like an original text. Martin holds a degree in Economics from the University of London, UK. Since joining Pacific Prime, Martin has become even more aware of the gap between the true value of insurance products and most people\u2019s appreciation of it, and developed a passion for demystifying and simplifying matters, so that more people get the protection they need at a cost they can easily afford. In his free time, Martin attends concerts of various genres, and plays the violin with piano accompaniment he pre-recorded himself or played live by his niece.","url":"https:\/\/www.pacificprime.sg\/blog\/author\/martin-lee\/"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.pacificprime.sg\/blog\/wp-json\/wp\/v2\/posts\/47"}],"collection":[{"href":"https:\/\/www.pacificprime.sg\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pacificprime.sg\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pacificprime.sg\/blog\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pacificprime.sg\/blog\/wp-json\/wp\/v2\/comments?post=47"}],"version-history":[{"count":11,"href":"https:\/\/www.pacificprime.sg\/blog\/wp-json\/wp\/v2\/posts\/47\/revisions"}],"predecessor-version":[{"id":3783,"href":"https:\/\/www.pacificprime.sg\/blog\/wp-json\/wp\/v2\/posts\/47\/revisions\/3783"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pacificprime.sg\/blog\/wp-json\/wp\/v2\/media\/46"}],"wp:attachment":[{"href":"https:\/\/www.pacificprime.sg\/blog\/wp-json\/wp\/v2\/media?parent=47"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pacificprime.sg\/blog\/wp-json\/wp\/v2\/categories?post=47"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pacificprime.sg\/blog\/wp-json\/wp\/v2\/tags?post=47"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}