Health spending to reach $242 bn this year

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Health spending across the country is climbing slowly and steadily and costs an average of $200 more person or $6,604 per capita this year, according to a report by the Canadian Institute for Health Information.

It forecasts total health spending for the year to increase almost four per cent which makes it to 11.5 per cent of Canada’s gross domestic product.

The Institute says the growth rate is slightly higher than the annual average of 3.2 per cent that has been recorded since 2010.

The report says total health spending per person is expected to vary across the country, from $7,378 in Newfoundland and Labrador and $7,329 in Alberta to $6,367 in Ontario and $6,321 in British Columbia.

Hospitals, at 28.3 per cent, are expected to eat up use the largest share of health dollars in 2017 as they have since 1997, followed by drugs at 16.4 per cent and physician services at 15.4 per cent.

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Drug spending is expected to grow the fastest, reaching an estimated 5.2 per cent this year. Physician spending growth is forecast to grow 4.4 per cent and spending on hospitals is estimated to grow by 2.9 per cent.

With seniors making up a growing number of Canadians, health care costs are expected to rise phenomenally over the coming years. Health care costs will gobble up more tax dollars and that is bad news and little can be done about it. – CINEWS

 

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