Cigna Singapore has partnered with iXchange, the Third-Party Administrator arm of IHH Healthcare Singapore, to introduce a groundbreaking value-based healthcare contract. This collaboration marks a shift from traditional volume-based metrics to value-driven outcomes, addressing the challenges of rising healthcare costs and increased service utilisation in Singapore.
The new contract will see IHH SG hospitals, alongside IXPL and Cigna, focusing on delivering value-based outcomes for patients. Key services will include Guarantee of Payment provision, cost control for episodes of care, and panel management, all designed to prioritise quality and efficiency over sheer volume.
Raymond Ng, CEO of Cigna Singapore, highlighted the importance of this partnership in managing inflationary pressures and rising utilisation that have been driving up insurance premiums. “By aligning our goals with healthcare providers, we aim to deliver more sustainable outcomes for our policyholders,” he stated.
Cigna members will benefit from enhanced access to a comprehensive network of trusted medical providers through iXchange. The collaboration will also streamline inpatient admissions and claims processing, ensuring fairness and transparency in billing.
The initiative will integrate hospitals, independent specialists, and payors through data-driven platforms, fostering continuous improvement and equitable outcomes. Loh Chek Chai, CEO of iXchange, emphasised the partnership’s role in creating a transparent and sustainable healthcare ecosystem, stating, “This strategic partnership with Cigna Singapore exemplifies how engagement, mutual understanding, and active collaboration can benefit all stakeholders.”
This collaboration is expected to set a precedent for future healthcare contracts, focusing on sustainable financing and high-quality care.
