There is no doubt that due to the recent outbreak of Coronavirus the World is facing many challenges and so are various Countries. In fact, the Pandemic has left Countries to revise and reform their allocation of funds on Healthcare. Thus ensuring every citizen gets access to quality healthcare. We all are aware of the fact that healthcare plays an important role in catering to the quality services which any Nation needs be it of goods and services.
Healthcare is the maintenance or improvement of health via the diagnosis, prevention, or treatment of disease, injury, and other physical or Mental Deterioration. Healthcare includes medicine, physical therapy, nursing, dentistry, psychology, occupational therapy, and more.
Access to Healthcare is primarily dependent on economic and social factors and varies across countries, municipalities, and individuals.
The World Health Organization(WHO) has defined a well-functioning healthcare system as a steady financing mechanism, a properly-trained and adequately- paid workforce and, well-maintained facilities and access to reliable information to base decisions on. Owing to this current Pandemic Developed countries are spending more.
Here goes the list of top 5 countries spending most on Healthcare:
1. United States of America(USA)
The United States of America currently ranks highest in Healthcare spending among the developed nations of the world. According to the data released by the Organization for Economic and Development ( OECD) in 2019, the U.S Rate was a staggering $11,072 per capita.
However, researchers determined that the higher overall healthcare spending in the U.S is mainly due to higher prices – including higher drug prices, higher salaries for Doctors and Nurses, higher hospital administration costs, and higher prices for many medical services. The U.S continues to spend the most healthcare per person, even though health outcomes and quality of care is not often ranked highest.
2. Switzerland
The Switzerland healthcare system achieves good outcomes but at relatively high spending. Health spending per capita and as a share of GDP is the second highest across the OECD. Though the share of generalists is comparatively low the number of doctors per capita is much higher than the OECD average in Switzerland.
A better balance between generalists and Specialists may be needed to respond to the needs arising from the growing burden of chronic conditions and population aging.
3. Norway
The expenditure on health in Norway increased annually during the period from 2009 to 2019 thus making it stand at the third position when compared to other developed countries.
The largest expenditure on health was in the general government, which was around 302.5 billion Norwegian kroner in 2019.
Norway’s healthcare system is semi-decentralized. We can certainly say that overall its population enjoys good health status; life expectancy of 81.53 years is above the EU average of 80.14, and the gap between overall life expectancy and healthy life years is around half the EU average. However, according to OECD Norway should strengthen primary care to address healthcare needs more efficiently.
4. Germany
The German healthcare system is characterized by high levels of human and physical resources guaranteeing good access to care with a low direct financial burden for patients.
The total health Spending of Germany is among the highest in the EU and is expected to grow. On a per-capita basis, all categories of health spending are above the respective Averages with spending on pharmaceuticals and medical devices almost 60% higher than average. Over recent years Long- Term Care(LTC) has grown more Strongly than all other expenditure categories. Source- OECD.
Comprehensively, almost two-thirds of the German population ( 65%) report being in good health, less than the EU as a whole (70%) and less than most other Western European Countries.
5. Austria
Austria has a social health insurance system. Expenditure on Health per capita was almost EUR 3 900 in 2017, about EUR 1 000 higher than the EU average. Expenditure growth has recently been similar to the EU average in absolute terms as a share of GDP.
Overall, healthcare coverage is near-universal, and accessibility of services is generally good. Austria is among the countries with the lowest self-reported unmet medical needs in the EU.
The main imbalances are occurring between generalists and specialists, and between rural and urban areas. Source- OECD
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