Interactive: Visualizing Healthcare Spending by Country
Connect with us

Healthcare

Visualizing Healthcare Spending by Country

Published

on

How Much Do OECD Countries Spend on Healthcare?

When you start feeling ill, the first line of defense is typically to have a doctor assess the symptoms—but how much you end up paying for a visit differs greatly by region.

Today’s interactive visualization was created by HealthDataViz consultant Lindsay Betzendahl, who also founded #ProjectHealthViz. The data considers how healthcare spending by country stacks up across the 36 Organization for Economic Cooperation (OECD) members, and how it has changed since 2010.

One thing is clear—the United States comes in first place in each category, but that’s not necessarily a good thing:

 🇺🇸 United States🌐 OECD Average
Healthcare Spending (% of GDP)16.9% (#1)8.8%
Admin Costs as % of Health Spend8.3% (#1)*~3%
Per Capita Prices (Current PPPs, USD)$10,586 (#1)$3,992

*Although Costa Rica’s figure was higher in 2016, more recent data is not yet available.

Let’s look at each individual cost category, to see what else we can learn.

What Portion of GDP Goes Towards Health?

Population health is a strong determinant in quality of life. As such, how much a country spends on healthcare as a percentage of gross domestic product (GDP) can be an important indicator.

The U.S. spends 16.9% of GDP on its healthcare, nearly double the OECD average of 8.8%. That’s also over 4 percentage points (p.p.) above Switzerland, which ranks second with 12.2% healthcare spending by GDP.

The problem? While Switzerland consistently ranks as having one of the best healthcare systems in the world, the U.S. lags behind—which means that expenditures are not always translating into better health outcomes for patients.

Where’s the Money Going?

Looking after the health of millions of people is a lot of work, and this is where spending on healthcare administration and financing comes into play. Funds are allocated to medical resource providers, who manage everything from health records to salaries and insurance bills.

The U.S. spends about 8.3% of its total healthcare expenditures on these complex costs today, which is a marginal increase from 7.5% in 2010. Interestingly, Costa Rica’s healthcare spending on the same metric was even higher in 2016, at 9.5% of the total.

On the bright side, Mexico has been making strides in the past few years: administrative spending plunged from 10.3% in 2013, down to 4.6% in 2017.

Globally, advancements in health-tech are helping to reduce costs by streamlining tedious processes. However, it’s still not enough—and these immense costs trickle down to patients.

How Much Does Each Person Shell Out?

Over the past eight years, a majority of OECD countries have seen their healthcare spending per capita climb, with Luxembourg and Greece being the only exceptions. The average OECD country’s spend was $3,992 per capita in 2018, up from $3,080 in 2010—nearly a 30% increase.

However, the U.S. experiences the most dramatic sticker shock by far. At $10,586 per head, the U.S. average is already more than double the OECD average. What’s more, this is a 33.3% increase from $7,939 in healthcare spending per capita in 2010.

As the U.S. healthcare reform debate around prices and quality of care rages on, it’s important to remember that healthy people are the backbone of any country’s long-term economic growth.

Subscribe to Visual Capitalist

Subscribe to Visual Capitalist
Click for Comments

Healthcare

Visualized: The Global Syringe Shortage Threatening Vaccine Efforts

Published

on

The following content is sponsored by NuGen Medical Devices

The Global Syringe Shortage Threatening Vaccine Efforts

Routine vaccination saves millions of lives every single year, according to the World Health Organization (WHO).

But even though global vaccination coverage is improving, closing the gap in immunization has led to skyrocketing demand for syringes—which is forecast to result in a major shortage that could make matters worse.

In the above infographic from NuGen Medical Devices, we explore the factors leading to the syringe shortage and take a look at the company’s innovative needle-free solution that could play an important role in closing the immunization gap.

The Immunization Gap

Even before the COVID-19 pandemic, millions of people around the world struggled to get access to routine vaccinations.

In fact, as of 2019 more than 19 million children around the world were considered to be “zero-dose” which means that they did not receive any routine vaccinations.

Moreover, when the COVID-19 pandemic hit, global immunization dropped even further with 25 million children missing out on routine vaccines in 2021 alone.

Why is Immunization So Important?

Vaccinations prevent against over 20 life-threatening diseases and save between 2-3 million deaths per year, making them—as the WHO describes—the foundation of healthcare systems and an indisputable human right.

As countries work through a backlog of vaccinations to close the immunization gap that has worsened since the pandemic, demand for syringes has significantly increased.

The Result: A Global Syringe Deficit

In 2022, the WHO warned that we could see a shortage of up to 2 billion syringes if manufacturing can’t keep up. This could result in the severe disruption to routine vaccinations and promote unsafe recycling of syringes in order to administer vaccines.

But the issue goes far beyond a supply shortage of syringes. COVID-19 has brought conventional syringe vaccines into sharp focus, with many criticizing the challenges associated with them.

The Challenge
Vaccine Hesitancy:
1 in 10 Americans have an extreme fear of needles and therefore will avoid vaccination.
Affordability:
The cost of essential syringe vaccination makes them inaccessible for people living in low and middle income countries.
Cost of Logistics:
Geographical constrains, a lack of infrastructure, and the need to keep vaccines at sub-zero temperatures prevent them from reaching those who need it the most.
Biohazardous Waste:
7.8 billion needles are discarded in the U.S. every year.
The Solution
Reduce Fear:
Needle-free devices remove the fear of syringes.
Reduce Costs:
Needle-free devices are lower in cost per injection compared to conventional needles.
Minimizes Cold Chain:
NuGen MD’s next generation powder injectables minimize the need for a cold chain (keeping vaccines at sub-zero temperatures) entirely.
Sustainable Needles:
Needle-free technology reduces environmental waste significantly.

With conventional needles facing so many challenges, it’s no surprise that investors are taking interest in viable alternatives. What’s more, these alternatives don’t just apply to vaccinations, they can also work for people with diabetes, dentists, and pet care.

Enter Needle-free Devices from NuGen MD

Needle-free devices have the potential to bridge the gap in immunization amid the global syringe shortage, solve some of the key challenges limiting vaccine uptake, and more importantly, benefit the lives of millions of people.

How Do They Work?

NuGen’s needle-free devices use a simple spring-loaded mechanism which uses pressure to release the liquid drug and penetrate the skin. In less than one-tenth of a second, the drug is dispensed more safely and evenly compared to needle syringes. It’s also virtually painless and leaves no mark on the skin.

>>>Interested in investing in NuGen Medical Devices? To learn more about their plans to pioneer the future of needle-free drug delivery, click this link now.

Subscribe to Visual Capitalist
Click for Comments

You may also like

Subscribe

Continue Reading

Subscribe

Popular