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The risks you face in ‘commoditising’ healthcare


With the growing need for a more efficient healthcare system to ensure sustainable economic growth, technology-enabled care solutions may help fill the gap.

With the growing need for a more efficient healthcare system to ensure sustainable economic growth, technology-enabled care solutions may help fill the gap.

Countries around the world have recognised the need for a robust healthcare system for sustainable growth and development. Recent data shows that the US spends about 17.2% of its GDP on healthcare, while the average spending by Canada, Germany, Australia, the UK, Japan, Sweden, France, the Netherlands, Switzerland and Denmark was around 10.7% of their GDP in 2016.

Meanwhile, the average healthcare expenditure by emerging markets is about 6% of GDP. Malaysia’s healthcare spend is around 4% of GDP in 2015. The drivers for higher healthcare expenditures are an increasing population, longer life expectancy and growing affluence, which create long-term demand for higher quality healthcare.

Corporate News , Anthony , Dass , economist

   

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