Singapore Expects the Cost of Healthcare to Increase up 9.8 per cent

Healthcare costs in the city are projected to increase massively.

FREMONT, CA:According to the WTW 2023 Global Medical Trends Survey, healthcare costs in the Lion City are projected to rise 9.8 per cent in 2023 as global inflation keeps rising and healthcare utilisation rises. Widespread inflation and rising healthcare demand are working together to bring anticipated rises in global healthcare benefit costs to their highest level in almost 15 years. WTW predicts that the region's healthcare consumption and expenses will rise as countries continue to open their borders and relax health regulations.

257 top insurers from 55 areas were interviewed for the survey between July and September 2022. Singapore's medical tourism sector revived with a significant surge of foreign patients seeking postponed elective treatment as one of the first few Asian nations to reopen.

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