Is healthcare spending blowout a myth?
Federal government claims that Medicare spending is unsustainable are under fire, with figures showing the rise in health costs is slowing dramatically
The average increase in the government’s health spending over the past decade has been 4% a year. But between 2013/14 to 2014/15 that increase was just 2.4%.
The amount that Australia as a whole spends on health – including cash from governments, patients and health insurers – was 9.7% of GDP in 2014.
The Australian Institute of Health and Welfare (AIHW), which compiled the figures, says this compares with 9.4% of GDP in New Zealand, 9