Article Synopsis :
Singapore healthcare system beats that of the United States in terms of efficiency, affordability and quality, according to the Global Longevity Governance Landscape from Aging Analytics.
This report uses big data across 50 countries to make comparisons about the relative efficiency of local healthcare systems.
Land of the sick
Though the US spends more than four times per person than Singapore. Citizens of Singapore also pay three times the level of out of pocket expenses than Americans as a percentage of current healthcare expenditure.
Healthcare in Singapore is relatively cheap, whereas in the US, administration is responsible for around one quarter of healthcare financing, more than in any other country.
Drugs are also more expensive in the US, as Medicare was denied the right to negotiate drug prices.
Different socio-economic groups in the US show considerable gaps in terms of life expectancy and health-adjusted life expectancy (HALE).
Cardiovascular disease is the main non-communicable disease that causes premature deaths. It is influenced by the ‘modifiable risk factors’ of tobacco, alcohol, unhealthy diets, and physical inactivity.
Singapore has an enviable reputation for its healthcare system. Governments are pooling data to better understand how the experience of Singaporean citizens might be replicated elsewhere.
Big data focusing on healthy longevity
The report is part of ongoing projects between Aging Analytics and a number of governments in order to focus on providing deep industry analytics and benchmarking of national policies and government influence on the development of a longevity industry.
Analytics Agency is working with a number of government departments and public sector bodies and authorities in the UK, Singapore, Switzerland, Israel and the US to develop compelling data and strategies to be deployed within healthcare modernisation and reforms and frontier-technology sectors that include longevity, artificial intelligence (AI) and precision health.
The ultimate target is the development of healthy longevity, and the government agencies can see how these technologies, support by analytics are likely to transform the delivery of healthcare in the coming years.
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Digital Insurer's CommentsIf insurtech has shown us anything, it is that you don’t have to spend more to deliver a better healthcare system if you spend smarter.
The study of longevity and the data analytics that research generates opens up a world of possibilities, many of which we cannot know today.
It is an exciting and rapidly developing part of the industry that will play an increasingly major role in shaping social policy across the globe
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