Cutting Healthcare Waste: a Win-Win for Providers, Payers, patients (The Business Times)

By FARHANA NAKHOODA | May 18, 2021

CONSUMERS are undoubtedly feeling the pinch with healthcare costs on the rise. MediShield Life premiums rose last year to ensure that the fund remains solvent and sustainable.

An ongoing debate between the Life Insurance Association Singapore (LIA) and the Singapore Medical Association (SMA) revolves ultimately around a lack of data, which obscures the reasons for rising healthcare costs. The SMA claimed that insurers had been unfair to medical professionals with their exclusive Integrated Shield Plan (IP) medical panels while LIA contended that having more doctors on IP panels may lead to even higher insurance premiums.

At the crux of the heated debate lies a single question – what is the true cost of healthcare?… View full Business Times Article