Prudential Singapore rolls out cashless medical service at two private hospitals

SINGAPORE (Nov 5): Prudential Singapore has rolled out a service allowing its customers to receive cashless medical services when seeking treatment from participating specialists at Raffles Hospital and Mount Alvernia Hospital.

Capped at $30,000, the feature and will be available to Singaporeans and Permanent Residents holding the PRUExtra Premier policy, a private hospital integrated shield plan rider.

Under the move, Prudential will settle its customer’s medical expenses directly with the two hospitals, thereby allowing them to admit and discharge themselves without payment.

“The majority of our PRUExtra Premier customers will no longer need to fork out cash deposits when they seek treatments at our two partner hospitals and its participating doctors,” says Dr Sidharth Kachroo, Prudential Singapore’s head of Medical Portfolio Management.

Dr James Lam Kian Ming, CEO of Mount Alvernia Hospital, notes that being admitted in the hospital for certain medical procedures “can be an emotionally stressful experience for both the patients and the family members”.

“This will minimise the financial stress on our patients and the family members, and allow our patients to focus on getting well,” he adds.

Meanwhile, Dr Kenneth Wu, general manager of Raffles Hospital, says the strategic partnership will help “meet evolving healthcare needs”.

Prudential Singapore’s latest move is in line with its commitment to ensure that quality healthcare is made affordable and accessible to its clients.

In 2017, Prudential Singapore had introduced a claims-based pricing approach to the same PruExtra Premier policy. The scheme, the first of its kind, was aimed at motivating customers to stay healthy and be more prudent with their use of healthcare services.

“Singapore’s rapidly-ageing population and growing rates of multi-morbidity are contributing to a growing demand for healthcare services. To ensure Singaporeans have access to affordable medical services and insurance in the long term, both healthcare payers and providers have an important role to play,” says Kachroo.