Madam, – Gerry Burke (July 2nd) is of the opinion that our health system is on a dangerous course as a result of a “privatisation frenzy”.
He also quotes statistics of a 9 per cent increase in health spending a year and that these increases in costs are unsustainable.
However an increase in spending is not necessarily solely due to an increase in costs.
While I agree that privatisation is not always the answer it can go a long way towards removing the inefficiencies in healthcare services while giving patients greater choice.
In Singapore individuals tax liabilities were reduced by a specified sum and put into a savings account each year. The government contributes to the accounts of those on low incomes who don’t pay tax. The money builds up over time and can be spent on whatever medical care the individual deems necessary and desirable.
If, on retirement, there is money left in the account it can be put towards a pension and on death is paid into the account of someone you have nominated There is also catastrophe insurance which would cover the larger expenses.
This system has reduced the waste of resources so much so that the amount spent by citizens in Singapore on healthcare only covers the administration costs in the United States. – Yours, etc,