Its Health Care is First Class, Cheap and Market-Driven

We’re talking about Singapore, which has had medical savings (Medisave) accounts for 25 years:

At the high end of accommodation, a patient can choose the Raffles/Victory suite for about $1,438 per night. That price includes a 24-hour private nurse, a refrigerator stocked with drinks, and an adjoining living room to entertain. At the other end of the scale, a bed in a six-person room goes for just $99… A knee replacement surgery runs between U.S. $12,000 and $14,000. Spinal fusion runs between $10,500 and $14,000, and a heart bypass (coronary artery bypass graft) from $23,000 to $26,500. Conservatively speaking, these prices are less than a third of what the same procedure would cost in the U.S.

Full Wall Street Journal editorial by William McGurn.

Comments (5)

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  1. Joe S. says:

    I have been aware of the Singapore health care system for some time, and there are one or two very good studies on it at the NCPA site. There is too much regulation and the use of the accounts is way too restrictive, but overall this is one of the most interesting health care systems in the world. Like Switzerland, it is a successful sytem that liberals never talk about.

  2. Tom H. says:

    I believe the Medisave account contributions are mandatory — a required 6% of wages (3% from the employee and 3% from the employer). Third party catastrophic insurance may also be mandatory.

  3. Brian W. says:

    Perhaps a Congressional junket to Singapore is in order to find out what’s going on over there…

  4. Stephen C. says:

    Singapore is also an active participant in the international medical tourism market.

  5. Larry C. says:

    Great idea, Brian. Let’s send them all to Singapore — for a long, long time.