Singapore tops in global healthcare efficiency ranking: Survey
SINGAPORE – The Republic came out tops in a global healthcare efficiency ranking, beating previous incumbent Hong Kong to first place as the Singapore Government continues to increase its expenditure on medical services and the ecosystem to cope with an ageing population.
According to Bloomberg’s Most Efficient Health Care 2014 ranking, Singapore had an efficiency score of 78.6, above Hong Kong’s 77.5 and Italy’s 76.3. The annual ranking tracks factors such as life expectancy, cost of healthcare as a percentage of gross domestic product and total medical expenditure per person.
The list included 51 countries, which had to meet the criteria of having populations of at least 5 million, GDP per capita of at least US$5,000 (S$6,340) and life expectancy of at least 70 years.
In a separate report on the rankings on Thursday (Sep 18), Bloomberg highlighted the Singapore Government’s increasing healthcare spending on medical services to support an ageing population. The Government also subsidises some medical fees, though citizens can choose to pay more for premium treatment and service.
Mr Jeremy Lin, head of Oliver Wyman & Co’s Asia Pacific health and life sciences practice, told Bloomberg: “I describe Singapore’s system as the least imperfect in the world. If Singapore can successfully balance the increased funding availability with prudent measures to curb inappropriate and over-consumption which society as a whole accepts and supports, the future would be very promising.”
Comparing Singapore and Hong Kong, the report noted that healthcare cost per capita for the Republic rose 13 per cent on-year to US$2,426 while Hong Kong saw an increase of 38 per cent to US$1,944 over the same period.
A representative for Hong Kong’s Secretary for Food and Health Ko Wing-man told the news agency: “The higher health expenditure is a result of the increase in both government spending as well as expenses of the private sector.”
Associate Professor of Health Policy and Management at the Lee Kuan Yew School of Public Policy in Singapore Phua Kai Hong – citing preliminary findings from his own studies of the two economies – told Bloomberg that Hong Kong has higher rates of utilisation as well as more public medical expenditure, compared to Singapore, which is more targeted in its healthcare spending.
Singapore’s good showing in this year’s ranking could be due primarily to “preventative care”, said Associate Professor Tilak Abeysinghe at the National University of Singapore. “The Government takes a very, very active role of telling people to live healthily,” he was quoted as saying by Bloomberg.
Source: Channel News Asia
Published: 19 Sep 2014
