WHO experts call for changing the financing of health system towards One Health for All
As COVID-19 continues to spread around the world, the consequences stemming from the pandemic are not distributed equally. The World Health Organization (WHO) Council on the Economics of Health For All called for the change in the financing of health system towards One Health for All, reports Strategy2050.kz citing the World Health Organization.
“The COVID-19 pandemic has brought into focus the stark reality of the large and growing inequities across the globe in access to health care and health products: for every 100 people in high-income countries, 133 doses of COVID-19 vaccine have been administered, while in low-income countries, only 4 doses per 100 people have been administered, Yet, to date, the world continues to follow the same economic paradigm that doesn’t change the underlying finance structure and applies outdated thinking on economic development, which stands in the way of Health For All,” said WHO experts.
They put hopes on the upcoming G20 Summit scheduled to take place in Rome from October 29 until October 31 and gather ministers of health and finance, heads of states, and governments.
Investments should be mobilized towards health focusing on more finance and better finance. Experts suggested three ways to achieve this quite ambitious goal.
First is creating fiscal space, which could be done through “easing artificial constraints imposed by outdated economic assumptions and reversing the harmful effects of reforms that lead to big health cuts, allowing spending and investments towards Health For All to increase significantly.”
Countries should also focus their economic activities on creating a “conducive regulatory, tax, industrial policy, and investment environment.”
The third action requires governments to ensure their public and private finance are managed by regulating the functioning and financing of private health markets through measures that crowd in and direct private finance towards improving health outcomes globally and equitably.
“While health systems are under-resourced, more finance is not the only solution. The work of the Council stresses the need to reform and redirect finance in radical ways so that the objective is Health For All is designed into the financial structures, the conditionality, and the partnerships between business and the state,” said Professor Mariana Mazzucato, Chair of the Council.