Linked Header

Monday, February 24, 2014

Cost Cutting In Healthcare Will Continue

The C-E-O at Horizon Health John McGarry has been given the mandate to reduce the cost of healthcare which was increasing year by year above the rate of inflation and swallowing up a greater percentage of the provincial budget. 

McGarry tells CHSJ News the revamping of healthcare will be the norm from now on because the provincial government wants it to run more like a business and, as such, there will be destabilisation among the workers in healthcare.

McGarry says the technology is there to allow lots of things to occur at a distance which will restrain costs. He estimates if 2 per cent in cost efficiencies can be found in the system each year and growth can be limited to 4 per cent, the system should be sustainable with an annual increase in funding of 2 per cent. 

One of the messages to be delivered to the Big Data conference getting underway today at the Trade and Convention Centre is that improved patient outcomes and increased cost effectiveness is within our reach with the intelligent application of data science to healthcare.