OECD urges European countries to reconsider attitude to health spending

The Organisation for Economic Cooperation and Development (OECD) has released a report, Health at a Glance: Europe 2020, which urges European countries to consider health spending as an investment, rather than a cost.

The report sets out how the COVID-19 pandemic demonstrates that European governments have not taken this approach to policy and that, as a consequence, the weaknesses of health systems have been revealed.

Spain’s healthcare spending is below the European average, and Farmaindustria agrees with the OECD’s stance that further investment is needed to ensure that the health system provides access to a range of quality and efficient services. Spain’s healthcare spending fell to 6% of GDP prior to the pandemic, but Farmaindustria agrees on the need to increase this to at least 7%.

The OECD report’s analysis explains that

“As the crisis has developed, the need for resources to be deployed quickly across the health sector has become apparent. Capacities for examinations, diagnoses and hospital treatments need to be increased.”

Humberto Arnés, director general of Farmaindustria, said that

“[This crisis] has demonstrated that health is an investment, and a very profitable investment for society. This should be the foundation on which financial needs are assessed.”

Read the Farmaindustria article for further information.

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Published 15. December 2020 in News, News EU, News UK, Press Release