What are healthcare companies in Singapore?
The healthcare companies in Singapore include companies that produce medical goods, like drugs and medical devices, and corporations that provide medical services, like insurance or hospital administration.
Healthcare companies in Singapore contain both public and personal healthcare facilities with both offering top quality medical aid but generally different levels of service and luxury.
How do healthcare companies in Singapore work?
Public healthcare
Public healthcare companies in Singapore are funded by taxes, which only cover about one-fourth of Singapore’s total health costs. Individuals and their employers buy the remainder within the sort of mandatory life assurance schemes and deductions from the compulsory savings plan, or the Central Provident Fund (CPF). The essential structure of the Lion City’s public insurance system is made around Medishield, Medisave, and Medifund.
Unlike the healthcare system in many socialist nations, Singaporeans cannot walk into a clinic or hospital and receive treatment for free of charge. Instead, Singapore imposes user fees for all healthcare services – a policy designed to scale back overuse of non-necessary medical services.
Private healthcare
Non-public hospitals tend to be smaller; offering more private rooms and care that’s not only adequate but also luxurious – if you’re willing to pay. In private hospitals, patients won’t need to wait quite as long for popular procedures, and personal patients can also enjoy what some describe as better customer service.
How many healthcare companies are there in Singapore?
Tan Tock Seng Hospital
Tan Tock Seng Hospital (TTSH) is the flagship hospital of the National Healthcare Group and a part of Singapore’s Public Healthcare System. As a pioneering hospital with strong roots within the community for over 176 years, TTSH is recognised as the People’s Hospital, serving a resident population of 1.4 Million living in Central Singapore.
Together, with 70 community partners and 80 community health posts, it brings care beyond the hospital into the community as an integrated care organisation – Central Health.
As a healthcare leader in population health, systems innovation, health technologies and workforce transformation, the host of TTSH is among the largest purpose-built innovation healthcare companies in Singapore – the Ng Teng Fong Centre for Healthcare Innovation (CHI) and its Co-Learning Network of 37 local and international partners.
Founded Year: 1990
KK Women’s and Children’s Hospital
KK Women’s and Children’s Hospital has evolved over the decades, since its founding in 1858, into a pacesetter in Obstetrics, Gynaecology, Paediatrics and Neonatology. Today, the 830-bed hospital may be a referral centre providing tertiary services to manage high-risk conditions in women and youngsters.
As a tutorial Medical Centre, KKH believes that world-class clinical training and research are imperative in raising the quality of care. Hence, the Hospital has adopted a culture of innovation because it achieves world-class clinical leadership.
As KKH continually raises the bar on clinical excellence, the company is sensitive to their patients’ needs for a pleasing hospital experience – one where they receive seamless service and luxuriate in the heat of compassionate care during a healing environment.
Founded Year: 1989
Changi General Hospital
Changi General Hospital (CGH) is a tutorial clinic with over 1,000 beds serving a community of quite 1 million people in eastern Singapore. With a good range of medical specialties and services, it’s helmed by an experienced and skilled team of healthcare professionals who consistently deliver positive health outcomes and look after patients.
The Medical Centre houses a spread of outpatient centres, with quite 130 consultation rooms for specialist outpatient care and operation rooms. It’s designed to enable multi-disciplinary consultation and facilities integrated specialist outpatient care.
GH believes in delivering the simplest patient care with passion and empathy. To enhance look after patients, CGH has adopted a proactive integrated care approach. CGH aims to deliver better, seamless and Integrated Medical services by partnering with healthcare providers within the east and innovating by adopting new medical technologies and systems.
Founded Year: 1989
Revenue: >100M
Institute of Mental Health/Woodbridge Hospital
The Institute of psychological state (IMH) may be a 2,000-bed acute tertiary mental hospital situated on a 23-hectare campus at Buangkok Green Medical Park. Set amidst serene surroundings, IMH offers a comprehensive range of psychiatric, rehabilitative and counselling services for youngsters, adolescents, adults, and therefore the elderly.
IMH’s tradition of care started in 1928. They were the primary psychiatric hospital in Singapore, starting with some 1,000 patients. Since then, many advances are made in treatment, training, and research. IMH is provided with modern facilities, with 50 wards for inpatients and 7 Specialist Outpatient Clinics.
IMH also plays a key role in training subsequent generations of psychological state professionals in Singapore. They train psychiatrists and psychological state professionals through the NHG-AHPL Residency Programme for psychiatry and through collaborations with the local tertiary institutions.
Founded Year: 2000
Revenue: 5M-10M
Singapore General Hospital is one of the biggest healthcare companies in Singapore
Singapore General Hospital (SGH) is the first and largest hospital in Singapore. It provides affordable specialist care for patients, training for doctors and other healthcare professionals, and conducts research to bring better care to its patients.
SGH provides a comprehensive range of medical services within one complex. There are 5 National Specialist Centres co-located on SGH Campus, facilitating a multi-disciplinary approach to treatment. SGH practises team-based care, provided by clinicians, nurses also as allied health professionals.
SGH seeks to bring its patients new and better care and therapies through clinical research, which is actively administered by clinicians and scientists from medical, nursing and allied health departments. The hospital leverages its multi-disciplinary capabilities, depth of specialization, an outsized patient base and its research affiliations with renowned centres locally and globally.
Founded Year: 1987
Conclusion
You are close to entering the Singapore healthcare system as a healthcare professional at an important time. Many of you’ll reminisce at this point as an inflection point because the landscape of our healthcare system is changing rapidly, and upon graduation, you’ll be at the forefront of those changes. Our healthcare sector has been lauded as probably amongst the best globally. One such measure is our anticipation which stands at 82.8 years on average now, making it among the very best in the world. We expect this to extend further. But we’ve another leading statistic – the share of our population aged 65 and above is predicted to double to twenty by 2030. meaning one in every five of you during this auditorium.
This is not a replacement phenomenon. Developed countries everywhere on the planet are aging. What makes things here slightly more acute is our low birthrate. consistent with the planet Bank, Singapore’s Total birthrate in 2014 is 1.25, making it 196 out of the 200 countries ranked. Here we are near the rock bottom of the table!
But we would like us to understand what an increased lifespan implies. It means more Singaporeans are going to be living longer with chronic conditions. for instance, the number of persons aged 65 and above with dementia is projected to quite double from about 20,000 today, to quite 50,000 in 2020. The aging population will increase the healthcare needs of the state significantly, and that we need to be prepared well beforehand to satisfy these needs.
