21 Jun '11, 3am

Rethinking healthcare financing in Singapore: Part 3

Health care costs have been spiraling in many developed nations. They are driven primarily by hospital fees, physicians’ remuneration, and pharmaceutical expenses. In order for healthcare expenditure, both public and private, to remain under control steps must be taken to manage the costs of the above three areas. In the third and final part of this series, we propose measures on how this can be done. One, the Government should require drug companies to license their patents to the state for a fee. The government can then manufacture these drugs for the people at sell them at a controlled rate. Compulsory licensing allows a country to circumvent unfair patent laws in order to combat serious diseases (eg. AIDS) and epidemics by providing affordable medicines to the people. In this way expensive proprietary drugs can be prescribed without ballooning pharmaceutical costs. Thi...

Full article: http://www.temasekreview.com/2011/06/21/rethinking-health...

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