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Concierge Medicine is Where Wealth and Health Collide

June 15, 2023 Vault@268

The COVID-19 worldwide emergency designation was lifted by the World Health Organisation on May 5, 2023, more than three years after it was first declared. The pandemic has highlighted the vulnerabilities of a global economy and challenged leaders and citizens alike. The countries should now manage the virus and reflect on lessons learned during the pandemic.

In order to promote economic growth, Singapore's "Hub" plan aims to boost economic growth by leveraging high-value sectors such as biotechnology, clean energy, aerospace, precision engineering, financial services, and information and communications services. With more than 30 international pharmaceutical businesses and more than 50 biomedical research institutes, Singapore boasts a thriving biomedical industry. Singapore is a regional powerhouse for medical tourism because it is also home to top-notch hospitals and medical facilities. Singapore is a great place to retire because of its top-notch governance and business-friendly environment. The health and safety of their loved ones is the one aspect of their lives that the wealthy value more than their legacy and the preservation of their fortune.

Healthcare and wealth management share a few pillars in common; for these sectors to continue to enjoy growth, stability and good governance are essential. A stable Singapore serves as a bedrock for a myriad of industries, and with the nation-state continuing to enjoy the attention and focus of health-conscious individuals, the country can expand its offerings to serve these families and individuals.

Private hospitals like Raffles Hospital and IHH Group, which run Mount Elizabeth hospitals, have seen their patient composition calibrated back to pre-covid numbers since Singapore fully lifted travel restrictions in February 2023, with non-residents of Singapore making up anywhere between 25% and 30% of their patient load. This sends a strong signal that Singapore continues to be the health hub of choice for the affluent of the region and beyond.

As Singapore continues to be the health hub of Asia, the local economy enjoys growth in adjacent sectors such as wealth management and business services. Families and individuals are encouraged to consider Singapore as a hub for their wealth management needs. One of the key strategies of the region’s elite wealthy families is universal life insurance policies. This flexible and adaptable policy often comes with private healthcare coverage. Singapore has been a destination to meet the medical and healthy needs of universal life policyholders and their families.

With frequent visits to Singapore throughout the year, the storage of important reports and other documents is now even more convenient for those seeking diversification and mitigation of risks. Vault@268 Orchard Road is a fully autonomous safe deposit box facility conveniently located near Paragon Medical Centre, Mount Elizabeth Hospital, Raffles Medical @ Shaw Centre Orchard and Gleneagles Hospital. The 24hr access and biometric security system have been popular with non-residents making trips to and from Singapore for medical treatments and follow-ups as they can easily store and retrieve medical documents and reports for their follow-ups and check-ups, giving them peace of mind whenever they travel to Singapore without fear of forgetting something back home.

Store your medical reports and insurance documents in a safe deposit box conveniently located in the Central Business District, and access it anytime. Trust the company that keeps your valuable information protected and private. Register your private vault today - 67377 268, vault@268.com.sg!