Global Health Coverage trends

In my last blog, I had touched upon the importance of having a healthy team especially during a downturn. In this let me cover some aspects of health coverage available to citizens globally .
How does Health Coverage work globally?
The days when healthcare sectors operate in silos must end. New solutions are emerging from beyond traditional boundaries and innovative business models are being formed as healthcare becomes globalized. In a world in which economies are globally interdependent and the productivity of nations relies on the health of its citizens, the sustainability of the world’s health systems is a national competitive issue and a global economic imperative.
Different countries follow different systems of financing the healthcare for its citizens. For citizens in most of the countries in Europe like United Kingdom, Sweden etc ,healthcare is free and taken care by the Government. The Government has created wide network of clinics, hospitals and pharmacies to take care of its people. Citizens in these countries are not used to paying for their health needs and believe that it is the Government’s responsibility to take care of their health. Typically in such countries, the income tax levels are very high as well. At the outset, this kind of system looks like ideal and don’t we wish it was the same here! However citizens of such nations are not very happy with their set up as it is characterized by lack of qualified professionals and long waiting time for simplest of treatments. Also they cannot afford to approach private service providers in their country as the fees charged by private hospitals are exorbitant.
Whereas in countries like the United States, healthcare is pre-dominantly driven by Health Management Organisations (HMO) which is a combination of Health Insurance Company and a chain of service providers. Healthcare is very expensive in such nations and every person is advised to take health insurance cover and they say; only God can save a person without the insurance cover. Also unlike in India, the insurance premiums are very high. Most business organizations in such countries help their employees by absorbing a portion of the health insurance premiums.
As health care costs skyrocket, patients in the developed world are looking overseas for medical treatment. Medical Tourism is a developing concept whereby people from world over visit a country for their medical and relaxation needs. India and many other Asian countries are capitalizing on its low costs and highly trained doctors to appeal to these "medical tourists." Even with airfare, the cost of coming to India for surgery can be markedly cheaper, and the quality of services is often better than that found in the United States and UK. The availability of multiple treatment options like Ayurveda & Sidha is an added advantage. Indeed, many patients are pleased at the prospect of combining their tummy tucks with a trip to the Taj Mahal.

In summary, healthcare costs are rising all over the world. Unfortunately higher costs over a longer period of time lead to increase in the costs of healthcare. The costs can be controlled only if there is greater importance given to proactive and preventive care by adopting wellness management.
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