The Singapore healthcare system can be considered a successful system in relation to its efficiency and provision of world class services to Singaporean residents. One of the major factors that have contributed to the success of the Singapore Healthcare system has been how healthcare cost is managed. This paper seeks to evaluate how Singapore manages its healthcare cost. We compare how health cost is managed in Singapore, with that of the United States and Germany. The study found out that Singapore manages its healthcare cost through multiple protection schemes that are supplemented with private health insurance to cater for individual health cost. Individuals are the major contributors of the healthcare cost in Singapore. There are government subsidies to supplement these contributions. The needy and poor are able to be afforded various healthcare services, but only after allowing those who are capable of paying to do so. However, the major problem facing the Singapore healthcare system is the increase in the number of insurance claims.

There are different approaches to healthcare that countries can emulate in their quest of improving the efficiency and lowering the cost of healthcare among its citizens. There is France healthcare multi-payer system that is high-performing and is ranked among the best healthcare system on the rankings provided by the World Health Organization (WHO). There is also the single-payer system that is successful in Canada, a reflection of simplicity, or the hybrid approach that works well in Germany . Moreover, the Scandinavian countries healthcare systems that have been excellent over the years. There is the National Health Services (NHS) of the United Kingdom and the similar social security system in Thailand.

Research Journal of Economics welcomes submissions with in the field of Economic Research. Unsolicited manuscripts including research article, reviews, commentaries, opinion articles, short communications, editorials, Letter to Editor and others will also be considered for publication and should be submitted either online or through mail.

You may submit your paper as an attachment at economics@scitecjournals.com or economics@scholarlypub.com

Online Submission:

Submit your Manuscript online https://www.scholarscentral.org/submissions/research-economics.html or by mailing to us at economics@scholarlypub.com

Author Information: Complete names and affiliation of all authors, including contact details of corresponding author (Telephone, Fax and E-mail address).

Best Regards,
Adam Smith,
Editorial Manager,
Research Journal of Economics