SINGAPORE (Mar 18): The biggest reason for rising healthcare costs is the existing fee-for-service (FFS) model that encourages higher pricing and consumption of healthcare services. A paradigm shift towards a value-based model in healthcare, which rewards the efficient use of resources and deters excessive utilisation while prioritising patient is required to counteract this issue.

Under the existing model,

1             There are financial incentives for healthcare providers to deliver more services and increase fees;

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