What are the Ways to Overcome Global Health Issues
Posted: Aug 10, 2022
Global health has become changing dramatically. All the countries have spent more time and money on their people's health to get rid of infectious diseases like Covid-19. Although, the demand for better health is increasing day by day as people’s income grows. To overcome these demands many countries are in a constant race to secure sufficient and sustainable financing for the health sector. Even the wealthiest nations are also struggling to keep up with the increasing costs of healthcare services.
Many countries or organizations conduct several health summits like dhealthsummit, to discuss managing global health issues. This health summit will help you to share the ideas and thoughts about the newer innovations by the health and technology leaders. Everyone agrees that the health of the people is more important, but they don’t know where to find sufficient resources to pay for it. Money can buy health only if it is well spent equitably and efficiently.
The following are some effective ways to overcome global health issues.
Economic Growth and Transition of the Countries:
Countries that demonstrate their economic growth tend to spend more on the health care systems. In countries with medium or high-level economic growth, the healthcare system's growth spending can stimulate the economy. Also, in some countries, health spending is growing more faster than the country’s economy.
Economic slowdown makes the countries rely solely on their economic financial capacity in order to maintain and scale up the health care services. When the low-income countries developed into middle-income countries, their levels of official development assistance and exposing them to risks of financial instability. This process is known as the health financing transition. Some countries continue to rely on donors in order to maximize the financing for the health sector by leveraging the private sector.
Financing for Health:
Many countries are planning to raise the funds to provide health services. This reduces the inequality in the ability to pay and ensures financial protection against poverty. It starts with generating enough domestic revenue, which can be pooled into the insurance fund to buy the services for the people's needs. When poling is weak, people have to pay for healthcare out of their own pocket.
Countries raising and spending the money for improving health are very essential to do so. Lower and lower-middle-income countries use around 63% to 78% of their potential to raise their revenue. Countries like India, Indonesia, and Myanmar have allocated 6% of their government resources to health, which is less when compared to many African countries. Whereas, Singapore and Vietnam have increased their government health spending to 14.1% and 14.2% respectively.
Resources for health can be raised by generating more government revenues through the effective collection of taxes and combating tax evasion. Wealthy countries raise more revenue as a share of their GDP and in that taxes are the largest share of their country’s domestic income. Whereas, in low-income countries, the tax represents less than 15% of their country’s GDP. From the above, you can easily understand the effective ways to overcome global health issue problems.
Ricky is a graduate of computer science engineering, a writer and marketing consultant. he continues to study on Nano technology and its resulting benefits to achieving almost there.