Healthcare costs are directly impacting every country’s budget as well corporate and industries. It is quite difficult for both developed and emerging nations to provide cost-effective healthcare to all the citizens and to develop healthcare infrastructures.
According to the World Health Organization (WHO), most of the countries in the UN have been spending around 9.9% of their GDP on healthcare. In the new Healthcare Policy 2017, the Indian government has increased the public health spending to 2.5% of the GDP. In India, the healthcare infrastructure is concentrated in fewer cities, which caters to around 28 to 30% of the population. There are no adequate healthcare facilities in the rural India, where the majority of the population is residing. As the doctor-patient ratio in India is at 1:1700 compared to the WTO’s standard of 1:1000. And, it is not economically viable for the government to develop the healthcare infrastructure in all the villages and blocks in short span of time. It would take many years to accomplish such tasks in the country.
The healthcare is expensive in both developed and emerging countries. It is a quite difficult task for the governments to make healthcare cheaper and provide healthcare facilities to all the citizens and this goal will remain unfulfilled. Hence, the governments and various organizations associated with the healthcare sector are following an alternative path, i.e., Preventive Healthcare, which focuses on the prevention of the health ailment rather providing treatment.
The rising health costs are also affecting the business world. In the case of large-scale industries, the health of employees has been a big challenge. Despite providing the various measures, it remains a big challenge. In the case of SMEs and small businesses too, the health issues of the employees will have a direct impact on the productivity of the enterprise.
Technology will play a major role in providing affordable healthcare solutions. Countries have the opportunity to control the healthcare costs by providing preventive healthcare solutions at the grassroots population. The latest technology enables devices could be used to gather the data of the people to know the status of the health conditions. Various channels like corporate employers, telecom carriers, banks, and others could be used for this purpose. The vast data of the people along with their data will help to provide medication and treatment reducing the healthcare cost.
The healthcare costs can also be reduced by the educating the people on the healthcare devices and their use. The main objective of the move is to help people to manage their own health. The date of the people could be used on a repository portal, which would be used for forecasting and data visualization.
The technologies like big-data and analytics in healthcare could transform the healthcare sector globally. The use of e-medical records and telemedicine will be useful for reducing the healthcare costs and providing healthcare access to all the citizens.
Preventive healthcare measures will not only reduce the healthcare cost in the country but will also be big blessed for the corporate world. It would be easy for the companies to keep track details and health condition of their employees. Various analyses and reports on the health of employees could save millions of dollars in the corporate world.
Preventive healthcare solutions would be very effective for the children and women healthcare. In the schools, a consistency process of monitoring health of children would reduce the greater risk ailments. This will also help to reduce the infant mortality rate and maternal mortality rate in the emerging countries where the access to medication is limited.
By leveraging the latest technology and implementing the preventive healthcare measures, countries could control their healthcare costs and expenses. On the contrary, the corporate world could focus on the preventive healthcare to reduce healthcare costs.