Australia (Commonwealth)_Today, I wanted to share some thoughts and concerns regarding the state of our healthcare system here in Australia. It’s essential that we take further action to ensure that healthcare remains affordable and accessible to all, avoiding the path that the United States has taken, which has resulted in significant challenges, particularly in areas like maternal mortality.
I believe that while the pursuit of profit can incentivize innovation and positive change, we must be cautious about allowing our healthcare system to be driven solely by the pursuit of financial gain. There are inherent dangers in such a system, as explored by Martin Wolf, the chief economics commentator at the Financial Times, in his book “The Crisis of Democratic Capitalism.”
Unfortunately, in the US and elsewhere, some individuals believe that unconstrained free enterprise is the only way to build a healthy economy. However, this mindset can lead to a disconnect between personal success and the well-being of the community as a whole. Throughout history, we have seen this pattern repeat itself, where the pursuit of wealth by the already wealthy can result in the control of community rules to advance personal interests at the expense of others.
In the case of the US healthcare system, it has become a prime target for profit-seeking entities, resulting in a situation where doctors, hospitals, insurance companies, and pharmaceutical businesses extract significant rents from the system. This has led to worse health outcomes despite high levels of spending. It must be cautious not to allow the healthcare system to drift in a similar direction.
Over time, Australians have witnessed a progressive disconnect between the funding, costs, and prices of healthcare in Australia. The government’s contribution and the prices that individuals can afford to pay have become decoupled from the actual cost of healthcare provision. This has resulted in primary care becoming inaccessible for many less affluent individuals and specialist doctors charging exorbitant fees that are detached from reasonable rates.
Additionally, there are instances where large healthcare businesses and private equity firms prioritize profit over patient and employee interests. This shift in focus can lead to a loss of professional autonomy for doctors and detrimental effects on the overall quality of care.
To address these concerns, it is crucial for the government to take comprehensive and sustainable measures. We need practical solutions that acknowledge the importance of public health and preventive care. General practitioners should be recognized as equally important as specialists in a viable healthcare system. Moreover, it is necessary to consider the entire healthcare system as an interconnected and codependent entity, encompassing primary care, aged care, disability services, and hospitals. Government initiatives, such as the mid-term review of the National Health Reform Agreement Addendum, provide an opportunity to look beyond hospital funding and create a holistic approach to healthcare.
Let us learn from the past and present, understand identity as a society, and work together to create a sustainable and equitable healthcare system. Failure to do so would leave Australians vulnerable to self-serving influences and compromise the provision of quality healthcare. I believe that by engaging in open dialogue and promoting awareness, Australians can make a positive difference in shaping the future of healthcare in Australia.
