2024, Volume 26, Issue 4
Strategic Study of CAE doi: 10.15302/J-SSCAE-2024.02.008
Current Status, Problems, and Countermeasures of Health Investment in China
1. School of Population Medicine and Public Health, Chinese Academy of Medical Sciences & Peking Union Medical College,Beijing 100730, China
2. School of Information Science and Technology, Tsinghua University, Beijing 100084, China
3. Gillings School of Global Public Health, University of North Carolina at Chapel Hill, North Carolina 27516, USA
4. School of Economics, Zhejiang University, Hangzhou 310058, China
5. School of Public Policy and Management, Tsinghua University, Beijing 100084, China
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Abstract
This study aims to highlight the significance of health investment in China’s economic development and propose effective development strategies. To achieve this goal, this study first conducts horizontal and vertical comparisons in terms of total amount and structure of health investment, and adopts a macroeconomic model to systematically calculate and analyze the economic returns of health investment. The results demonstrate that health investment significantly contributes to national economic growth and population welfare improvement. According to calculations of the macroeconomic model, major diseases are projected to incur a 2% loss in GDP annually over the next 30 years. Based on these findings, the study proposes the following recommendations: (1) shifting perspectives on investing in health to strengthen the role of health investment as a key driver in economic development; (2) gradually increasing health expenditure, optimizing the investment structure, and encouraging participation from the private sector and the commercial insurance industry; (3) innovating medical and health management mechanisms, establishing medical and health science funds, and promoting the concept of population medicine. This study emphasizes the importance of health investment and provides empirical evidence for the sustainable development of the health sector in China and globally.
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