Sunday, November 10, 2013

Medishield Life will face big challenges

 expect that Medishield Life will encounter some of the following problems:

1. It aims to cover everyone for a lifetime, and to include pre-existing illnesses. Judging from the experience of Medicare in America, it could become very costly. 

2. The key challenge is to manage the expectation of health care for the aged - a challenge that America, with their decades of experience, was not able to solve. Singapore will face the same challenges.

3. Asking everyone to pay for the cost of Medishield Life through insurance premiums will not be easy. The cost will be unaffordable.

4. Making it compulsory to solve Medishield Life will not work. Many people will not heave the money to pay the premium. Those who have, will complain about the cost.

5. We need an "out of the box" solution to manage the expectation of health care for the elderly - especially when the cost is paid by insurance, or by the government (like in America). I am not aware of any successful system to manage it well. But, it can be found, by an innovative approach.

Are you able to think "out of the box" ?

Are you prepared to try something idfferent, and to take risk? Do you look heyond the obvious answer? Try this quiz. 

Theer is no "right" or "wrong" answer to these questions. I have selected what I think are the answers that are innovative and out of the box. Check your score on this scale. And you will see an explanation.

Get a project leader to implement change

William Lim said:
People are unwilling to make changes, including myself. But some policies are outdated and need modification, the leaders who need to endorse the changes for the better of Singaporean. How can this mindset to be changed? Changing of Government is no use, the question is how to change their mindset?

They are scared of failure. They are scared that failure meant loss of job.
We need a system to allow them to try and learn. But, even if you tell them, they will not take the risk, because their mindset is - I don't trust what you say.
So, they will NEVER CHANGE.
The only way is to appoint another person to manage a specific change project. Put this person in charge. Let the person handle the project. If the project fails, the person will disappear from the scene. Anyway, this person was not part of the organization in the first place.
This is the only way to make change.

Students want better grade

Most graduates want to get top grades, so they stand a better chance to be employed by the banks and large companies. 

But, only 10% will be able to get top grades. Those who failed to get the top grades pressure the professor or the school to give them a better grade. They even accuse the professor of being unfair in the grading. 

This attitude is harmful. There can only be 10% who can get top grades, and the professor is trying his or her best to be as fair as possible to all students. 

What is the solution?

Insurance company repudiate liability

Under an agreement among the insurance companies, the insurer can repudiate liability under a motor insurance policy if its policyholder does not report an accident. This allows the insurer to avoid paying the third party claim, even though its insured vehicle cause the accident, and require the third party to take a legal case against the driver, which is time consuming, costly and risky. The third party had no choice but to claim against its own policy and risk losing the no claim bonus. This is not satisfactory.

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