The Policy Monitor
Singapore spends only 4% of its GDP on healthcare but sets-up world-class medical institutions spending 70 % less than Canada and 50% less than the United States. Innovative cost-saving features and health savings have conveyed the small island’s motto of good governance.
Health is understood as a subject of ‘Market Failure’. But because it is the subject of social welfare there is need of an intermediary mechanism for active intervention. One such important mechanism would be regulation.
Ayushman Bharat is the new route for ‘Strategic bargaining’ from Private Healthcare Providers. At the same time, the effectiveness of the private sector has to be measured against the parameters of access, quality, equity and efficiency