The pace of spending in healthcare has been slowed down in Canada, according to a recent report. The report comes from Canadian Institute for Health Information on health expenditures. The report suggesting this is expected to reach $ 207 billion by 2012. “The country spending on healthcare as a share of the economy” – Dr. Michael Rachlis, a healthcare policy consultant from Toronto commented on this report. The proportion of GDP (Gross Domestic Product) is expected to reach 11.6 percent this year to be spent on healthcare while it was on 11.9 percent by 2010.
That is why; managing health-related price inflation in terms of core medical products and services, doctors, nurses and other healthcare professionals will be a challenge for the nation. In this way, the growth of expenditures on physicians, hospitals, and drugs will be slowed down but the largest share will be contributed for the health industry. This year, the lowest rate of growth has been shown since the late 1990s. The hospitals will grow up by 3.1 percent and physicians by 3.6 percent on spending.
Aging grows like a glacier
The report has accounted the growth rate of up to 0.9 percent of spending from 2000 to 2010. This was more significant change in Maritimes and Quebec. “Aging is like a glacier and not a tsunami, so we have lots of time to be prepared and adapt health system” Rachlis said. Spending in healthcare for seniors is increase with age according to the reports. Canada was on the top for spending on healthcare.