Cardiologists in Singapore: Costs and other information

Heart disease is becoming more prevalent with the various health and lifestyle changes in the body. Singapore is one of the best countries to consider for a trained and certified cardiologist.

Cardiologists in Singapore are found in both private and public hospitals, with each having different costs, depending on the treatment. Cardiologists aim to diagnose and treat heart conditions and disorders. Severe cases are referred to cardiac surgeons, who consider the patient and check whether they are eligible for surgery.

But what causes heart disease?

Various factors cause heart diseases across people of all ages:

  • Lack of physical exercise

Inactivity can lead to heart disease as the body is not operational in a way that aids a healthy heart. A dormant lifestyle makes the arteries clog up with fat deposits which block the heart vessels.

  • Smoking

Smoking damages the arteries and leads to heart blockages, in addition it raised both cholesterol and blood pressure

  • High cholesterol

High cholesterol is part genetic and part lifestyle. High levels of LDL cholesterol enter the artery walls and lead to blockages, angina, heart attacks and strokes.

  • High blood pressure

High blood pressure is mainly a lifestyle disease. It damages the arteries and leads to heart attack and stroke.

Costs of a cardiologist in Singapore

Patients seeking cardiologists in Singapore need to book appointments before reaching the country. Private hospitals do not require appointments to be booked months in advance. Public hospitals have a long waiting time for consultations, with some requiring the patient to wait upto six weeks to get a slot booked for consultation.

Cardiologists in private clinics cost roughly $200 to $500 for the first consultation. This is followed up by medications and subsequent consultations which can make the costs from $800 to $1200. Public hospitals can cost $250 to $400 depending on the qualification of the cardiologist.

Cardiology treatment in Singapore offers residents the option of subsidized care. The patient should however be a citizen of Singapore or a permanent resident, with a referral letter from a health officer.

What to consider when looking for a cardiologist in Singapore

The numerous cardiologists in Singapore may make foreigners and residents alike become overwhelmed by the choice they have to make. There are a few pointers to consider when looking for a cardiologist in Singapore:

  • Fully equipped clinic

When choosing the right cardiologist, you would want one with a fully equipped clinic, as they will be able to diagnose and treat the right ailment and offer specialized services. These clinics can offer specialized and comprehensive assessments for all cardiac conditions. A fully equipped clinic will consider the patient’s history for previous cardiac-related illnesses, and assist the cardiologist in deriving possible treatments and management options.

  • Cardiologist credentials

The cardiologists in Singapore undergo extensive training to ensure they are the best in their craft. As a result, cardiologists finish medical school and gain extensive experience that is widely sought after worldwide. Before booking a consultation with your cardiologist of choice, it is best to check on their certification levels. Checking their patient success rates is also vital in ensuring that you access the best cardiologist.

  • Location

Checking the location of the clinic is important. A clinic that is easily accessible and available for walk-ins or emergencies will be a much viable option for both foreigners and residents.

  • Convenience

Different cardiologists have their unique way of running their clinics. Some are available seven days a week and can be requested for emergency services on call, while others require prior booking and consultation. Patients who require diagnostic testing and screening are also given their results on the same day. It is important to consider these aspects before booking a specific cardiologist. Other cardiologists also offer same-day bookings which are extremely convenient for specialized and referral cases.

  • Adoption of the latest technology

The clinic needs to have the latest technology in place, with the cardiologist being able to incorporate modern technology into treatments. By using the latest technology advancements, the right treatment options are identified, with minimal turnaround time and maximum efficiency. The age of tele-consultation has enabled the influence of technology to influence the interaction between doctor and patient. Cardiologists are also embracing holistic cardiology care and services which combine the influence of modern medicine and holistic influences to give patients maximum health care. Clinics that engage with the patients before their arrival promise efficiency and a personalized healthcare system.

  • Personalized medical care

When seeking the right cardiologist, it is best to get one who is passionate about their patients and aims to give their patients the best personalized care available. A cardiologist who seeks to understand the patient’s needs and listen to their ailments will be in a better position to understand the minute details that define their condition. In doing so, the cardiologist can advise the patient on the right treatment plan according to their needs. The medical staff should also be friendly and receptive to the patient’s concerns and queries. This in turn assists the patient to open up and gain confidence, making them more receptive to treatment.

  • Payment plans

It is advisable to consider the payment plans for the cardiology treatment before booking an appointment. Foreigners are advised to call in advance and enquire whether their insurance plans will cover their treatment before booking an appointment and traveling to Singapore. This prevents disappointment and helps the patient prepare before their treatment. Residents of Singapore can also check their eligibility for insurance cover, to see the treatment areas that are covered.

 

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How to regain your confidence at the workplace

a woman presenting at the workplace

Confidence can be a massive word for those with low self-esteem. “I don’t think I can do it” is probably an incredibly evocative sentence that urges your mind and body to take flight.

However, as much as we choose not to admit it, it’s impossible to run away from our fears forever. This is why it’s essential to learn how to transit from fear to confidence. Constantly worrying about not being able to do a task right can cripple one’s true abilities at work. That’s the last thing you want to do if you’re building your career!

Thankfully, not all hope is lost. Here are some things you can do to regain your confidence at the workplace.

Weigh the cons

To accurately weigh the cons of an action, you have to sit yourself down and think through the threats. Ask yourself what you consider to be the worst-case scenario.

For example, you may be keen on running for a new project at work but lack the confidence to give a presentation. You’re concerned with the reactions of people since you don’t identify yourself as a star presenter. Yes, you may stutter and have some inconsiderate colleagues laugh at you. But hey, that first step forward is commendable!

In all honesty, even if you were to get rejected for your proposal, it’s not a big deal. Take the feedback positively and wait for the next opportunity to recommend something. Always remember that no one wins in life all the time. But when you fall, learn how to stand right back up. When life throws you lemons, use them to make sweet lemonade.

Celebrate small wins
celebrating small accomplishments at work

Image Credits: medium.com

We’re sure most of us have played e-games before. Whether on an app or website, have you realised that the first few levels are always the easiest?

This strategy used by game designers is incredibly genius because it’s their way to get you hooked on the game. First, your confidence is boosted from level one since they are absurdly easy to get past. As you get used to the game tools, they slowly get a little harder to navigate.

Using the same methodology, start with small goals that are easy to succeed. If you do not know where to start, speak with a trusted colleague or leader to set little assignments for yourself. When you succeed in those tasks, celebrate! Every small win is praiseworthy, and most importantly, they help build your confidence surely.

Confront your fears like a boss

Do you know that you can reduce anxiety by engaging in stressful activities? To get over your unease, you’ve got to confront your fears like a boss.

That is to say, if you’re afraid of teaching, put yourself in a situation where you have to teach. By doing so, ​​your motivational system will find out that there is actually nothing to fear, and your panic will subside over time.

And, of course, practice makes perfect. Not everyone is born with a natural gift of a particular talent. While some may be charismatically good at public speaking, most people have to devote hours of practice before giving a speech.

Just like how the Chinese saying goes, “台上一分钟, 台下十年功”. If you’ve prepared extensively for that one minute of glory on stage, your effort and confidence will shine through eventually.

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Budgeting 101: How to Be Financially Ready for Your Parents’ Care Needs

old asian couple

Budgeting is not that easy, especially for those who are low-income earners. It can be frustrating when most of your salary goes to your bills. This is why it’s important to know how to be financially responsible. Managing your money is the best way for you to survive and even gain the opportunity to invest in things that will improve your overall quality of life.

This includes investing in our parents’ care options. Indeed, aging can be a complicated process. There are seniors who live with or suffer from medical conditions that require special attention, support, and assistance from equipped facilities. In that case, being the children or the family members that look after them, it’s crucial for us to be financially prepared to help them live more comfortably and happily.

In this blog post, we’ll be giving you tips on how to be financially ready for your elderly parents’ care needs.

Why do you need to invest in senior care? 

Saving up for your parents’ care options is important due to many reasons.

For instance, you don’t have enough time to care for them. Maybe you have a family of your own who needs looking after or you have a full-time job to tend to. Or, let’s say you can take care of them personally. However, you do not have the right care facilities in your home or your living environment is not the place for them to get better.

All these factors and so much more are to be considered for investing in senior care services.

There are plenty of senior care options made available such as Nursing Homes, Assisted Living, Independent Living, Memory Care, Respite Care, and In-Home Care. All these are developments made to provide seniors with access to professional nursing care, assistance, and medical care.

How much does senior care cost? 

Choosing the right care option for your aging parents can be overwhelming at the beginning. But the best thing you can do is to have them assessed to determine their level of need. Knowing which senior care is best for them will also help you figure out how much budget you will be needing.

To know how much, you need money you need to save up, you first need to know how much you are saving for. It’s important to be familiar with the costs of the various senior care options even when the possibility of availing them for your parents is still far away.

Remember, proper anticipation will lead to less frustration.

Here are the estimated costs of each senior care option:

  • Nursing homes: Nursing homes are clinic-like senior care facilities that provide professional nursing care 24/7. A higher level of assistance is needed by its care recipients. The rates of Nursing Homes may vary depending on whether your loved one needs only short-term or long-term care and if they’ll be staying in a shared room or private room.

General cost ranges from $1,200 to $3500 per month (if it’s a shared bedroom) and $4,000 to $6,500 per month (if it’s a private single-bedroom)

  • Assisted Living: Assisted Living facilities offer a wide range of services for the elderly who require less demanding care services. This includes assistance with activities of daily living (ADLs), transportation, daily meals, planned activities, and many more.

General cost ranges from $2,300 to $4,500 depending on the services and facilities availed by the care recipient. 

  • Independent Living: This is the optimal choice for seniors who want to make the most out of their retirement years and require only assistance with more complex day-to-day tasks such as housekeeping, laundry, and others.

General cost ranges from $1,900 to $4,100 depending on the services and facilities availed by the care recipient. 

  • Memory Care: This facility focuses on providing care, treatment, and support to seniors that are living with dementia or other forms of memory impairment. There are various programs instituted to help reduce the progression of their diseases such as therapy and planned activities.

General cost ranges from $2,500 to $5,000 depending on the needs and facilities availed by the care recipient. 

  • Respite Care: This care service is provided to the elderly whose own caregivers decide to take a much-needed break. This was established to help caregivers give importance to their physical and mental health as well.

General cost ranges from $100 to $150 per day.

  • In-home Care: This is personal care and assistance provided to seniors who desire to remain in their respective homes. Although this sets a more comfortable and familiar environment for them, it does not have the complete set of senior care amenities and features that you would commonly find in actual facilities.

The nationwide cost for this is around $22 per hour. 

How to budget finances for senior care costs? 

Senior care services may seem to be heavy on the pocket. However, that is the reality. Besides, these care services are a worthy investment (still depending on the care service provider of course) because they will help your aging parents enjoy a more comfortable, secure, and happy life—the kind of life that doesn’t end in suffering or experience further problems.

Here are valuable tips that you can follow to be financially ready for your parents’ care needs:

  1. Discuss budgeting with your parents

Some aging adults refuse to believe that they’ll be needing long-term care, even the ones living with chronic illnesses. Some of them may be skeptical or just do not like the idea of moving into a facility surrounded by strangers. However, you have to make them understand how important this is to them and to you.

Team up with them in terms of budgeting. Surely, some of their budgets will also go into their care needs so it’s extremely essential for all of you to be in the know. This is to discipline them as well and prevent any overspending on unnecessary things.

  1. Be organized. Create a monthly expense sheet. 

List your expenses every month. Knowing where your money is going will help you track down every penny better. You wouldn’t end up scratching your head and wondering where a huge amount of your salary flew off to. This will also help you see your budget from a larger viewpoint, making it easier for you to control yourself and the way you spend. Also, teach this to your parents.

  1. Choose insurance policies and plans wisely

Having life and health insurance is very important for every individual. This ensures that you don’t have to worry about expenses if you accidentally pass away or get severely ill. The insurance companies and the money you have invested in them will help you pay for the costs. However, it’s important to choose the right plan that will not be too costly for you. Insurance premiums can be paid for through various installment plans such as monthly, quarterly, or even semi-annually. Assess your cash flow and choose the plan which resonates most with you.

  1. Turn to government subsidies, financial assistance, and schemes

The great thing about this is you and your family alone. The government extends a reaching hand towards the senior community and has implemented various subsidies and financial support towards low-income earners. Furthermore, senior care facilities also have in-house financial assistance that can help lessen the load of your spending. Keep yourself familiar with these programs so that you can apply on behalf of your aging parents.

  1. Set a financial system

Again, learn how to be organized. Manage the inflow and outflow of your funds. As you receive your salary, properly disseminate them in the various bills you have to pay and set aside some of it for your savings and other investments, including your parents’ care needs. This will help you save up a huge budget that you can use to pay for the best kind of care for your parents.

 

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Your Ultimate Guide To Financial Literacy: What It Is & How To Improve It

DEFINITION

Financial literacy is the ability to understand and efficiently use various financial skills including financial management, investing, and budgeting. Financially literate consumers not only manage their money with confidence, but also have a better chance of handling the inevitable ups and downs of their financial lives.

It is the foundation of your relationship with money, which enables you to create a lifelong journey of learning. It will help you understand how to prevent and manage financial issues as they arise. The earlier you start, the better off you will be.

On that note, here are the advantages of financial literacy.

UNDERSTAND HOW MUCH YOU SPEND & EARN

When cultivating financial literacy, establishing a budget can give you a clear understanding of your expenses and income. Once you have a budget in place, you will be able to track your spending and revisit your spending plan regularly. With the variety of budgeting methods such as 50/30/20 plan, you can choose one that suits you best.

PAY OFF & AVOID DEBTS

Searching for the lowest interest rates when comparing loan terms can help you save a substantial amount of money over time. If you already have debt, financial literacy can help you select the best methods to eliminate your debt. You can pay off your credit card balances each month, so you do not get trapped by the interest charges. You can look for a credible expert such as a credit counselor if necessary.

WORK TOWARDS FINANCIAL SECURITY

Saving for retirement will enable you to secure your future. As you become more financially literate, you will be able to examine how much you need to save to obtain your retirement plan. You will be able to carve your action plan too.

WAYS TO BOOST YOUR FINANCIAL LITERACY

1. SET A BUDGET

Track your earnings and expenses each month by using an Excel Spreadsheet, a ledger, or a budgeting application. Your budget should include your incomes (e.g., investments and paychecks), fixed expenses (e.g., rent and utilities), variable expenses (e.g., shopping and travel), and your savings.

2. PAY YOUR BILLS ON TIME

Stay on top of your monthly bills by making sure that payments arrive on time. Consider taking advantage of automatic payments or signing-up for payment reminders (i.e., by email, SMS, or phone call).

Image Credits: unsplash.com

3. BUILD YOUR SAVINGS

Building your savings will help you reach your financial goals. Decide how much you want to contribute each month and stick to it.

4. CHECK YOUR CREDIT SCORE

You can request your credit report from Singapore’s credit bureaus. Companies assess your creditworthiness by looking at the credit score. Having a good credit score has its perks such as helping you obtain the best interest rates on loans and credit cards.

5. MANAGE YOUR DEBTS

Utilize your budget to manage your debt. You can devise a plan to reduce your monthly spending and increase your monthly repayment. Develop a debt-reduction plan such as paying for the loan with the highest interest rate first. If your debt is excessive and overwhelming, you can contact lenders to re-negotiate repayment or find a debt-counselling program.

Sources: 1 & 2

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Endowus Singapore Retirement Report 2021: Almost 50% of Singaporeans have not started retirement planning

Singapore residents crossing the road

Do you know that though CPF members’ total balance has increased from roughly S$125 billion in 2006 to S$474 billion in March 2021, only 63.6% of active CPF members who turned 55 could set aside their Full Retirement Sum (FRS) or Basic Retirement Sum last year?

Hence, to better understand Singaporeans’ attitudes towards retirement, Endowus has worked with YouGov Singapore to develop the Endowus Singapore Retirement Report 2021. The survey took place in May this year with a sample size of 1099 adults, reflecting our tiny red dot’s adult profile population.

Here are its findings.

39% of Singaporeans are worried about retirement inadequacy

The survey revealed that about 1 in 3 Singaporeans are worried about retirement inadequacy. However, the results varied between the genders. Twice as many men than women confidently agreed that they hold sufficient money for retirement.

Almost 50% of people have not started planning for retirement

While 53% of Singaporeans are planning to use or are currently using CPF to fund their retirement, almost 50% of people have not started retirement planning. This is especially true for the younger age group under 35.

Lower-incomers are less likely to plan for their retirement with CPF
younger Singapore residents

Image Credits: The Jakarta Post

Another worrying factor is that those earning below S$3,000 are less likely to plan for their retirement with CPF when compared to those with incomes above S$6,000 per month. This thus also means that lower-incomers are not making full use of their CPF. It also lowers their chances of achieving the FRS for financial stability at retirement.

Only 25% are currently investing their CPF

The report also showed that close to 70% lack confidence in investing their own CPF monies. That is why only 25% are currently investing their CPF. However, most Singaporeans seek higher returns and ranked it as the most critical criteria for CPF investing.

30% are asking for tools on CPF investing knowledge

There seems to be a gap in using CPF around financial decisions; as such, a third of Singaporeans are requesting tools to help them understand the impact of their financial decisions around their CPF. Some are also appealing for resources to aid them in estimating retirement income from their CPF.

To that, Samuel Rhee, Chairman and Chief Investment Officer of Endowus, agrees. He said, “Considering these shifting time horizons and other uncertainties, more education may be needed to help Singaporeans make better use of their CPF, especially earlier in life, when savers have more time to take advantage of asset growth.”

What about you? Have you started retirement planning? Ponder over these things if you want to be on track to building your retirement fund. For the full Endowus Singapore Retirement Report 2021, please head to endowus.com/insights/singapore-retirement-report-2021.

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