The Singapore Government will be revamping its healthcare subsidy system to ensure that those who need financial help the most get more of it. This is heartening news as it would provide greater support for low-income families to improve their health outcomes.
While increased subsidies make healthcare more affordable, it is also important to consider whether it is a viable solution in the long run.
Government spending has increased from 40 per cent in 2013 to 46 per cent in 2018, and is expected to continue rising. In order to fund this increase in budget, the government may need to cut expenses in other areas or even consider options such as raising taxes or tapping into our hard-earned reserves.
With rising healthcare costs, a growing ageing population and a diminishing healthcare workforce, we would eventually hit an impasse.
We believe that technology can help alleviate all of these pain points.
Rather than allocating a greater budget towards the subsidy system, it would make greater economic sense to invest in technological innovations to drive down healthcare expenses. Treat the cause, rather than the “symptoms”.
If we can optimise the operations of healthcare facilities and predict their patient utilisation patterns, it will cut down 15% of the current work hours, which can equate up to 9 hours of free time.
Famili is founded for this sole purpose. We create tools to reduce the strain on healthcare professionals so that they can maximise their full potential by working on higher-order tasks.
We aim to revolutionise the current healthcare operations by empowering our users to make data-driven decisions, conduct sophisticated analytics, and refine operations.
Want to learn more about partnering with Famili? We’d love to have that conversation.