The Asia-Pacific (APAC) region is home to 60 per cent of the world’s population and, like most regions, it is undergoing significant demographic shift with increased life expectancy, ageing population and increased disease burden as a result of demographic shift, changes in lifestyle and growing healthcare cost.
- One in four people in APAC will be over 60 years old by 2050
- Health expenditure is rising but government funding has stalled, and personal spending is filling the gap
- Universal health coverage (UHC) is expected to represent a US$2 trillion investment over the next 10 years
UHC is about ensuring that all individuals and communities have access to the healthcare they need without suffering financial hardship. UHC is based on three key principles equity in access to essential services, quality of healthcare and financial risk protection. To deliver on these principles, personal responsibility for health and well-being and new models of care will be a strong determining factor in how countries respond to increase disease burden and rising cost of healthcare.
Rising healthcare cost is not sustainable. Attempts to raise income tax or reduce coverage benefits have proven to exacerbate the sustainability of the healthcare of the future. The recent coronavirus disease (COVID-19) pandemic has unveiled the fragility of the global healthcare systems and the opportunity to transform into a more sustainable healthcare financing and delivery systems.