Global Healthcare In Crisis - Efficient and Effective Delivery of Healthcare Dollars
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Global healthcare spending is rising rapidly. Several countries like the UK have more efficient systems that rein in costs through measures like drug caps. However, countries like Canada and the US experience significant waste, including $11-25 billion annually in Canada from issues like fraud, mismanagement, and expired medical supplies. The WHO also lacks transparency and oversight of its programs and funding. Governments must address root causes like drug costs, prioritize front-line services over administration, and reduce waste to improve sustainable healthcare delivery.
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Global Healthcare In Crisis - Efficient and Effective Delivery of Healthcare Dollars
- 1. Global Healthcare Crisis - Funding PAUL YOUNG CPA CGA MAY 8, 2020
- 2. Paul Young - Bio • CPA, CGA • Financial Solutions • SME – Risk Management • SME – Close, Consolidate and Reporting • SME – Public Policy • SME – Financial Solutions • SME – Supply Chain Management • SME – Business Strategy and Restructuring Contact information: Paul_Young_CGA@Hotmail.com
- 3. Agenda Global Healthcare spending Efficient Healthcare Countries OECD and Healthcare USA – Healthcare Waste Canada and Healthcare Waste Medical Supplies / Canada Global Healthcare Delivery and Cost
- 4. Introduction Healthcare is key area for government as it is large government expenditures Too many people do not grasp there are issues with healthcare delivery
- 6. Efficient Healthcare Country Ranking Source - http://worldpopulationreview.com/countries/best-healthcare-in-the-world/
- 7. OECD and Healthcare Funding SOURCE – FRASER INSTITUTE
- 8. USA Waste and Healthcare Source - https://www.cfo.com/health- benefits/2019/10/annual-waste-in- u-s-healthcare-system-nears-1- trillion/?utm_campaign=CFODailyAl ert&utm_nooverride=1&utm_source =CFO- email&utm_medium=email&utm_co ntent=CFODailyAlert_Tuesday_2019- 10-22&utm_term=health-benefits
- 9. Canada and Healthcare Source - https://www.cihi.ca/en/canadas-drug-spending-growth-outpaces-that-for-hospitals-and-doctors or https://www.cbc.ca/news/canada/london/ontario-hallway-healthcare-1.4923954 or https://theconversation.com/how-healthy-is-the- canadian-health-care-system-82674 or https://www.conferenceboard.ca/CASHC/research/2012/inconvenient_truths.aspx • Canada needs to review its drug programs. Drug Costs continues to rise - In 2018, $14.4 billion (42.7%) of prescribed drug spending is expected to be financed by the public sector, while the remainder will be financed by private insurance and individuals paying out of pocket. Drug spending is just part of the expected $253.5 billion in total health spending in Canada this year. • Hospitals (28.3%), drugs (15.7%) and physician services (15.1%) are expected to continue to account for the largest shares of health dollars (close to 60% of total health spending). The remaining 41% will be spent on other health care goods and services, including long-term care facilities and allied health professionals. • Fraud or about 12B per year https://www.claimsecure.com/en/whats-new- blog/2019/march/11/fighting-fraud-waste-and- abuse-for-a-healthy-business/ • Miss management and waste – Let’s say about 5% to 10% is waste (est.) then the value could be $11B to 25B per year. Could you imagine how dollars could be stretched?
- 10. Global Delivery of Healthcare Source - https://globalnews.ca/news/3599458/canadas-health-care-system-lower-performing-compared-to-its-peers-study/ or https://www.theguardian.com/commentisfree/2018/feb/05/americans-uk-health-system-trump-nhs or https://www.ons.gov.uk/peoplepopulationandcommunity/healthandsocialcare/healthcaresystem/bulletins/ukhealthaccounts/2017 • United Kingdom has many programs that are used to reign in costs of healthcare, i.e. prescriptions drug caps - https://theconversation.com/why-the-us-has- higher-drug-prices-than-other-countries-111256 • Australia has one of the most efficient healthcare system - https://theconversation.com/australias-health- system-is-enviable-but-theres-room-for- improvement-81332
- 11. WHO and Oversight @PattyHajdu I bet you will sweep off this video, right? Why has Bruce refused to testify? @emilia_suze @MichelleRempel @SenatorHousakos @JustinTrudeau you are the PM of Canada as such you should be safeguarding assets including how taxpayer’s money is spent outside of Canada. You should be demanding more oversight from the @WHO https://www.slideshare.net/paulyoungcga/reforming-both-the- united-nations-and-who @ShannonStubbsMP @emilia_suze @tedcruz @realDonaldTrump
- 12. Member Countries Source - https://www.who.int/countries/en/ No Taiwan WHO praises China, but refuses to discuss Taiwan https://www.who.int/bulletin/volumes/85/07- 100107/en/index1.html
- 14. Oversight and Performance Audits Source – WHO • Internal audits in the past have show issues with effectiveness of programs and/or oversight • All donors should be asking for more performance audits as part of assessing the effectiveness of WHO programs • An annual audited risk management report should be provided including assessing global risk, crisis management, etc. • More work needs to be done in terms of using data sciences and analytics as part of managing various programs with WHO
- 15. Medical Supplies and Canada Expiration of masks - https://ca.reuters.com/article/domesticNews/idCAKBN20W2OG Both CPC and Liberals ignored the AG reports in 2011 - https://www.oag- bvg.gc.ca/internet/English/parl_oag_201106_06_e_35374.html Issues with drug plans - https://www.theglobeandmail.com/news/national/auditors-report-slams-bc- drug-plan/article18158842/ Globalization and Pharmacare - https://www.nytimes.com/2020/03/11/business/economy/coronavirus-china-trump-drugs.html Pharmacare poorly constructed policy - https://business.financialpost.com/news/election- 2019/voters-beware-national-pharmacare-is-unnecessary-bad-for-privately-insured-canadians-and- costly-for-taxpayers
- 16. Training and Development If you like to learn more about trade and/or other subjects as part of your professional learning and development then feel free to review my material on https://www.udemy.com/ (search Paul Young CPA CGA) These subjects address how to fixed issues with housing and/or systemic issues related to economy including government policies
- 17. Summary Too many governments are throwing money at they symptoms which never fixed the root cause when it comes to poor delivery of healthcare The rise of drug costs is becoming an issue. Government need to look at all aspects of drugs including procurement, approval, private insurance vs public funding, etc. National Pharmacare should never be based on the proper business cases - https://www.slideshare.net/paulyoungcga/can- canada-be-successful-at-pharmacare All governments around the world need to put more focus on front-line services and less emphasis on administration Governments are not getting value for money for healthcare - https://www.slideshare.net/paulyoungcga/healthcare -crisis-canada-august-2019 Waste, fraud and other miss management need to be reduced.