The Edge Singapore
With one of the world’s most rapidly ageing populations and an ever-increasing burden of chronic illness, Singapore faces a healthcare cliff edge. Reflecting the demographics, healthcare expenditure has risen steadily to about 4.5 per cent of GDP. Singapore now faces an inflection point in its healthcare journey, with important choices to be made in tackling increasing demand in the face of escalating costs. Value-based healthcare (VBHC) can be a powerful tool to address this issue.
VBHC offers enormous potential within Singapore’s healthcare ecosystem but remains a challenging concept to execute—particularly at scale. In a guest column for The Edge Singapore, Sumit Sharma and Anurag Agrawal explain how VBHC can enable a healthier healthcare industry that unlocks holistic benefits for patients, clinicians, and institutions, if correctly implemented.