Finding Canada's Healthcare Equilibrium

Abstract

Economic equilibrium, in which demand for health services is in balance with supply, is an elusive phenomenon in advanced healthcare systems worldwide, yet some countries have come closer to economic stasis than Canada. In 2008, the Euro-Canada Health Consumer Index ranked Canada 30th out of 30 countries studied for value for money. Wait times were Canada's weakest spot, and, in terms of system design, context, and economics, there was clear evidence that Canada's healthcare system was out of equilibrium. Canadians can learn from Austria. If Canada expects better value for its healthcare dollar, then cost drivers need to be addressed in a design overhaul. Only then will Canada approach equilibrium.