Singapore advised to boost medical tourism in the country

Analysts are pointing out that Singapore should leverage its advanced medical capabilities to boost its medical tourism sector.

Experts say that the city-state’s various hospitals and the wide range of treatments on hand can attract high-net-worth travellers for whom cost is no bar to premium medical services.

Currently, Singapore is seen as not asserting itself in a highly competitive sector where the likes of Thailand and Vietnam are taking the lead and offering professional procedures for reasonable rates.

Based on the most recent Global Market Insights report, Singapore is missing out on cashing in on a highly lucrative sector currently valued at US$51.5 billion and stands to grow by 12.7 percent per annum.

Where Singapore could excel

It should be noted that the Singaporean medical sector’s primary strengths lie in state-of-the-art treatments that are unavailable in many of its Southeast Asian neighbours’ hospitals.

In recent years, these have included revolutionary modalities like proton therapy as offered at the Goh Cheng Liang Proton Therapy Centre at the National Cancer Centre Singapore, as well as advanced treatments in the fields of cardiology and organ transplants.

Interestingly, Singapore has also become a go-to destination for fertility treatments in the face of both lower birth rates and a rapidly ageing populace.

KK Women’s and Children’s Hospital is one of the institutions at the forefront of such modalities, reporting a success rate of over 35 percent for its in-vitro fertilisation procedure.

At the same time, the high percentage of English-speaking medical professionals in Singapore is seen as another potential draw for western patients heading to Asia for treatment.

So, what’s the problem?

Unfortunately, Singapore chose to veer away from medical tourism around a decade ago.

The shift was driven by public criticism regarding the way vital services were prioritising non-citizens rather than Singaporeans.

As recently as October 2023, the country’s health officials remain vocal against the sector, citing its adverse effects on public healthcare.

Singaporean health minister Ong Ye Kung went so far as to say:  “Citizens began to notice the disparity in service levels between what they were experiencing and what the medical tourists experienced, and were not happy.”

Possible solutions

Some experts opine that a flexible pricing strategy geared specifically towards key patient demographics could be the answer.

This may be done by offering premium rates for potentially complicated procedures and keeping prices flexible for routine checkups, regular treatments, or follow-up procedures.

Partnerships with insurance companies as well as travel agencies specialising in medical tourism are also seen as a potential boon to the sector.

Also, the country’s robust regulatory framework may be instrumental in drawing in additional foreign investments into the healthcare sector, as well as medical tourism.

Furthermore, the medical sector could seek advice and support from the likes of the Singapore Tourism Board to promote the country’s medical services overseas.