| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

Home 
 
 News
 Irish
 Irish Economy
 EU Economy
 US Economy
 UK Economy
 Global Economy
 International
 Property
 Innovation
 
 Analysis/Comment
 
 Asia Economy

RSS FEED


How to use our RSS feed

Follow Finfacts on Twitter

 
Web Finfacts

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management system.

Welcome

Finfacts is Ireland's leading business information site and you are in its business news section.

Links

Finfacts Homepage

Irish Share Prices

Euribor Daily Rates

Irish Economy

Global Income Per Capita

Global Cost of Living

Irish Tax - Income/Corporate

Global News

Bloomberg News

CNN Money

Cnet Tech News

Newspapers

Irish Independent

Irish Times

Irish Examiner

New York Times

Financial Times

Technology News

 

Feedback

 

Content Management by interactivetools.com.

News : Irish Economy Last Updated: Jul 2, 2014 - 9:44 AM


Irish health spending among highest of developed world; Consultants best paid
By Michael Hennigan, Finfacts founder and editor
Jul 1, 2014 - 6:36 AM

Email this article
 Printer friendly page

Health spending has started to rise again after stagnating or even falling in many of the 34 OECD countries (which includes all the world's developed economies) during the crisis. But the pace of growth remains well below pre-crisis rates, especially in Europe, according to OECD Health Statistics 2014. Irish spending is among the highest of the developed world and medics are among highest paid.

In Europe, health spending continued to fall in 2012 in Greece, Italy, Portugal and Spain, as well as in the Czech Republic and Hungary. In Greece, health spending in real terms was 25% lower in 2012 than in 2009, primarily driven by cuts in public spending. 

By contrast, outside Europe, Chile and Mexico saw strong growth in health spending in 2012, at 6.5% and 8.5% respectively, largely due to further efforts towards universal coverage and access to healthcare. Health spending in Korea has continued to grow at an annual rate of 6% since 2009, mainly driven by increases in private spending. 

In the United States, health spending grew by 2.1% in 2012, above the OECD average but similar to growth rates in 2010 and 2011.

Overall health spending accounted for 9.3% of GDP on average across OECD countries in 2012, little changed from 9.2% in 2011, but up from 8.6% before the crisis. 

Total Irish health spending accounted for 8.9% of GDP in 2012, slightly less than the OECD average of 9.3% but Ireland's rate as a ratio of GNP (gross national product which mainly excludes the profits of active foreign-owned affiliates in the economy) was 10.9% - - with the US at 16.9% of GDP, Netherlands 11.8%; France 11.6%; Switzerland 11.4%; Germany 11.3%; Austria 11.1%; Denmark 11% and Canada at 10.9%.

The UK and Norway were at the OECD average of 9.3%. Finland's ratio was 9.1%.

Monday's report says that while spending on hospital and outpatient care grew in many countries in 2012, almost two-thirds of OECD countries have experienced real falls in pharmaceutical spending since 2009. Reductions have been driven by price cuts, often through negotiations with manufacturers, and a growing share of the generic market. This share has increased due to patent expirations for a number of high-volume and high-cost brand name drugs, and policies to promote the use of cheaper generic drugs. 

The share of the generic market grew on average by 20% between 2008 and 2012 to reach 24% of the total pharmaceutical expenditure. The increase was particularly steep in Spain (+ 100%), France (+60%), Denmark (+44%) and the United Kingdom (+28%).

The market share of generics in Ireland nearly doubled since 2008, to reach 13% by 2012, although the OECD notes that this still remains below the generic share in most other OECD countries. This compares with Germany's 76% share and the UK's 75% share.

In 2012, life expectancy in Ireland stood at 81.0 years, almost one year above the OECD average (80.2).

The proportion of daily smokers in Ireland has decreased over the past decade, from 33% in 1998 to 29% in 2007 (latest year available), but this remains well above the OECD average (21% in 2012).

Alcohol consumption in Ireland is among the highest in OECD countries, with a consumption of 11.6 litres of alcohol per adult in 2012. Although alcohol consumption in Ireland has declined over the past decade, it still remains well above the OECD average (9.0 litres).

The public sector is the main source of health funding in nearly all OECD countries. In Ireland, 68% of health spending was funded by public sources in 2012, slightly less than the average of 72% in OECD countries.

Health expenditure per capita in 2012 was $3890 (purchasing power parity - - PPP- based).

The average pay of medical specialists/ consultants in 2013 was €177,000 compared with €91,000 in Germany in 2010 and €72,000 in Italy in 2013 while the Finnish level was €71,000 in 2012.

On a dollar PPP basis, Irish salaries with Luxembourg were at the highest in the world.

The Paris based Organisation for Economic Co-operation and Development is a think-tank for 34 mainly developed countries. OECD member countries are: Australia, Austria, Belgium, Canada, Chile, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Israel, Italy, Japan, Korea, Luxembourg, Mexico, the Netherlands, New Zealand, Norway, Poland, Portugal, the Slovak Republic, Slovenia, Spain, Sweden, Switzerland, Turkey, the United Kingdom and the United States. The European Commission takes part in the work of the OECD.

Related Articles
Related Articles


© Copyright 2011 by Finfacts.com

Top of Page

Irish Economy
Latest Headlines
Finfacts launches new news site
Irish Farmers & Milk Prices: 'Shackles' off in April; Demanding safety-net in August
Irish pension managed funds returns at over 12% year-to-date in 2015
Irish chartered accountants' salary packages surge 13% in 12 months
Irish services PMI fastest rate since late 2006; Official data up only 2.4% in 12 months
Irish Economy: Tax €893m above target in year to July — €653m from corporation tax
Fact and Fiction: Time to review Ireland's economic statistics?
Irish M&A deals H1 2015: Dutch or UK firm acquires Irish firm for €32.6bn - they are both American
Irish manufacturing PMI strong in July
Irish Economy: Fall in GNP in Q1 2015; GDP rises
Irish Economy 2015: Central Bank lauds strong recovery; Time to start paying down debt
Irish Budget 2016: Ibec demands 20 tax cuts, spending and investment rises
Low pay in Ireland; Lowest social security & corporate taxes in Europe
Ireland vs Greece: Enda Kenny's false claims on growth, taxes and debt
Irish standard of living in 2014 below Euro Area average, Italian level; Prices 5th highest in EU28
Irish goods exports rose a record 30% in April - due to fake tax-related transactions
Mexican tall ship to sail into Dublin on June 17th
Irish industrial production up 20% in first four months of 2015; Construction down 2.6% in first quarter
Irish Economy 2015: ESRI slams return to boom-time pro-cyclical fiscal policy
Irish pension fund returns in average range 1.6% - 1.8% in May 2015
Irish service sector PMI remains strong; Tax avoidance clouds data
Ireland: Official unemployment rate at 9.8% in May; Broad rate at 19% — 440,000 people
Ireland: Fiscal Council warns of dodgy forecasts, no plan; OECD warns of new property bubble
Irish Public Finances: Tax revenue in first five months of 2015 €734m ahead of target
No simple measure of economic progress in Ireland: GDP & GNP defective
Irish manufacturing PMI rises in May; Production up unbelievable 45% in year to March!
ESRI says data volatility hinders Irish economic forecasting; Tax avoidance taboo cause
Ireland at 16 in international competitiveness ranking; US, Singapore and Hong Kong on top
Irish Economy 2015: Sectors to add 200,000 jobs?; Broad jobless rate at 19%
Irish Export Performance: Myths and reality - Ireland is a poor exporter
Irish Economy: 41,300 jobs added in 12 months to Q1 2015 - Construction up 19,600
China-Ireland: Economic relationship on a slow burn
Estonia, Austria, France, Ireland head global alcohol rankings
Irish Exchequer Returns: Tax receipts under target in April but ahead in year
Irish service sector PMI rose in April
Irish manufacturing PMI remained strong in April- includes overseas manufacturing
Irish Live Register + 90,000 activation scheme numbers at 439,000 in April
Ireland: Coalition drops 2018 full-employment target
Ireland Spring Statement: Noonan promises 200,000 net new jobs by 2018
Irish Economy 2015: Retail sales volume up 1.4% in month of March