Is Cost-Effective Healthcare Compatible with Publicly Financed Academic Medical Centres?

Abstract

Probably more than any country, Singapore has made significant investment into the biomedical enterprise as a proportion of its economy and size. This focus recently witnessed a shift towards a greater emphasis on translational and clinical development. Key to the realisation of this strategy will be Academic Medical Centres (AMCs), as a principal tool to developing and applying useful products for the market and further improving health outcomes. Here, we explore the principal value proposition of the AMC to Singapore society and its healthcare system. We question if the values inherent within academic medicine —that of inquiry, innovation, pedagogy and clinical exceptionalism—can be compatible with the seemingly paradoxical mandate of providing cost-effective or rationed healthcare. Key words: Academic Medical Centre, Cost-effective healthcare