Cancer Treatment – The delicate balance
In recent years, the medical field has witnessed significant advancements, particularly in cancer treatment. One such breakthrough is Proton Beam Therapy (PBT), a precision radiation tool that offers a higher level of safety and effectiveness compared to conventional radiation therapy. However, as with many innovations, we are now at a crossroads where the availability of superior treatments clashes with the need to manage medical costs. This tension raises important ethical considerations and questions about the greater good.
What is Proton Beam Therapy?
Proton Beam Therapy (PBT) is a type of radiation treatment that precisely targets cancer cells. Unlike traditional radiation therapy, which can damage healthy tissues, PBT is more accurate. This means it can focus on the tumor and cause fewer side effects, like secondary cancers. It is especially useful for treating tumours located in sensitive areas of the body such as the brain, spinal cord, and head and neck.
But here comes the Cost Challenge
The main issue with PBT is that it is very expensive. The cost of PBT can be up to three times higher than regular radiation therapy. This situation raises 2 important questions:
- Should cutting-edge treatments be available to everyone, regardless of cost?
- How do we balance providing the best care with managing healthcare expenses?
If we make PBT available to everyone, healthcare costs will rise. This could (WOULD) lead to higher insurance premiums, making healthcare less affordable for many people.
To prevent this, MOH restricts the subsidies on PBT and it has drawn up a list in which the treatment can be used for. The same list & restrictions apply for our integrated shield plan, which also only covers PBT up to $100,000 per year.
So yes, this is a classic case of ‘greater good requiring sacrifices from all of us’.
Important: The information and opinions in this article are for general information purposes only. They should not be relied on as professional financial advice. Readers should seek unbiased financial advice that is customised to their specific financial objectives, situations & needs. This advertisement or publication has not been reviewed by the Monetary Authority of Singapore.
Published By:
Lim Zhiwen Yvonne
I believe that “Worrying is not planning and Hope is not a good strategy”, and that the purpose of Financial Planning is to allow us to lead fulfilling lives while being financially wise.
As such, my role as a Certified Financial Planner CFP® is to help my clients build those sound financial strategies and design action plans that put them on track to their financial goals so that they can live the best possible life for themselves.
This is done via a systematic approach of ongoing cash flow management & asset allocation, as well as investment management, estate planning, and tax optimization.
I also ascertain that I stay up-to-date with industry trends and policies changes to ensure that my clients benefit from the latest strategies and opportunities available.
Over the years, I have developed a specialty in comprehensive financial planning for busy legal professionals & educators. I also particularly like assisting working mothers & young families to achieve their long term financial goals. Working with one of the largest financial advisory (FA) firm in Singapore also frees me from product pressures and allows me to only recommend solutions that suit my client’s needs. And client’s interest, is always the core of my FA business.
Being a wealth planner is my dream career and this is what I hope to do for a long time.
Other than financial planning & investment, I love to travel, read, bake and I am an adrenaline enthusiast. I am most looking forward to the day my children join me on my adventures.
CONTACT US
- 150 Beach Road #12-01/08, Gateway West Singapore 189720
- +65 62221889
- +65 62221019
- feedback@fa.com.sg
