VITAL SCIENCE: SUPPLY CHAIN TRUTH TO KEEP HEALTHCARE GROWING
Australia’s healthcare sector needs to keep growing – but can it? In 2017, national healthcare spending rose past 10% of Australia’s GDP for the first time ever, prompting concerns of a coming funding crisis for the country’s hospitals and clinics.
Such concerns echo back as far as 2010, when a Treasury report suggested healthcare spending as a percentage of GDP would double between then and 2050. Government and private sector leaders both acknowledge that today’s healthcare funding models may not prove sustainable without significant reform, particularly when considering projected growth in demand from an increasing and ageing population.