Saturday, January 28, 2017

The UK's NHS is in terrible shape and getting worse fast. Great news for the private health industry

In my latest book, This I Know, I explain how the failure of successive governments to take the hard decisions has resulted in the slow implosion of the NHS and the provision of publicly funded care. What is so sad is that this nightmare situation could have been avoided if the right, and obvious,  decisions had been taken over the last couple of decades. The media, especially the BBC, scream that it all about 'resources' (money). That's wrong, so wrong. Best to get used to fact that things will get a lot worse.

Still out of every disaster comes an opportunity. The provision of privately paid for health and care is going to prosper. Think I am exaggerating? Have a look at this report from McKinsey. 

This gives you a flavour of the conclusions.

Revenues in the global market for private health insurance—already €1.3 trillion—are expected to double by 2025. The demand for healthcare services, and hence health insurance, is increasing because of population aging and the growing prevalence of chronic disease, as well as rising incomes in the developing world. At the same time, pressure on public finances is prompting many governments to impose healthcare-spending cuts or seek out private payors as intermediaries to better manage spending and outcomes.
The accelerating demand for private health services is only one of the opportunities that I identify in This I Know. If you want to know about the others you will have to buy the book that is published by Amazon in paper and Kindle versions and should be available in most countries.

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