NTUC Income and healthcare firm DaVita have formed a joint venture that will operate kidney dialysis centres in Singapore. These centres will serve as Income’s preferred healthcare facilities, akin to its panel of private specialists.
The joint venture, which also includes NTUC Health, will be the first one in Singapore to bring together an insurer, healthcare provider, and community care provider, the firms said in a statement. It plans to open two dialysis centres by mid-2019 to serve patients, including non-policyholders of IncomeShield.
Data from the National Kidney Foundation showed that Singapore currently ranks fourth in the world for prevalence of kidney failure and first for diabetes-induced kidney failure, a condition that becomes more prevalent as age progresses. Furthermore, the average age of kidney failure patients in Singapore is above 60, hence NTUC Health’s participation providing expertise in senior care.
“With this industry-first collaboration, Income goes beyond its role as payer to become an enabler in the healthcare ecosystem,” said Andrew Yeo, general manager for life and health insurance at Income. “Similar to medical panels which are known to be effective in calibrating and managing the fees of healthcare providers, Income aims to achieve more via a value-based and outcome-driven approach that will underpin our panel of healthcare facilities, starting with the dialysis centres. Our latest effort is aligned with recommendations by the Health Insurance Task Force, which encourage all stakeholders in Singapore’s healthcare ecosystem to play a more active role in ensuring that healthcare and health insurance remain accessible and sustainable in Singapore.”
