Singapore pushes longevity economy without higher healthcare costs
What's new: Singapore is streamlining clinical-trial reviews and warning that overtreatment and generous insurance riders can inflate bills.
Singapore is seeking to grow a “longevity economy” around an aging population while avoiding unnecessary healthcare spending, Health Minister Ong Ye Kung said on July 25. Speaking at The Business Times Longevity Forum, Ong pointed to biomedical sciences, nutrition and artificial intelligence as key growth areas as the country becomes a super-aged society. He warned that overly generous insurance riders and excessive tests or procedures can drive up costs without improving outcomes. Ong said Singapore is also taking steps to attract more clinical trials by simplifying contract reviews across public institutions, using a standard budget template and adding a fast-track ethics review lane at SingHealth.